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I'd like to study a few stocks tonight and I really like my swing setup as it is right now, I want to see PILL through to tomorrow at least and I've taken profit on my other holdings in order to do so.
I had something a little more explicit in mind, like a ticker to study tonight.
Thinking about giving up my virginity tommorow and tyring a short if the market starts to slip.
Would appreciate any and all suggestions that would make this first experience an enjoyable one...
PILL has had a large gap between the bid & ask all day, they've brought down the ask to try and muscle out the daytraders so now is a good time to get in for a swing. Good financials but they brought it down anyhow.
Larger Bios seem to be stabilizing and smaller ones moving up. They ran the stops on STEM today and ORCH which has been totally dead has started to move.
Wondering if there are internet problems.. IHUB came up with a DNS error and my e-trade level II was still running.
GNSS crossed at 10.93 making me wonder if that broker is off line also.
I do think there is some electronic terrorism going on.
I trade mostly biotech so I'm a fish out of water here. Only taking it one day at a time. Sometimes I can save a bad entry by holding overnight, but that's on a stock I know better.
Anyone else having problems with Ameritrade level II?
I followed you in and didn't do very well at the entry - should I consider holding some or all overnight?
I don't like the fact that their limit orders are $12.
Not comfortable placing market orders, I went through that with Scottrade.
I think we need to start a broker review thread....
In edit - there is already an area to comment, maybe we just need to give it some more traffic.
http://www.investorshub.com/boards/boards.asp?cat_id=131
My usual bios are very stable today - ALKS, MLNM, XOMA, MDCO. No AM spike and they didn't get run down hard either. Is this generally a good or a bad sign? My guess would be that they are stabilizing for an upward move but I really don't have enough experience to know.
Check PILL for a swing trade to hold overnight. Gee, they did the same thing LAST QUARTER and it was back up in two days.
Just made $450 in six minutes on CYTC - gee this can be fun!!
My worst trade today was $20 profit after commissions -
Up over a grand from trading and more from appreciation today.
I hope this keeps up for a while :)
Thank you - I guess I'll keep searching :)
Spoke again to AFTRADER to clarify a point. Fees are pro-rated on partial fills.
I mentioned that there were others on this board needing to switch and he indicated that he would consider giving us a GROUP RATE - mentioned possible commisions as low as $5 depending on volume.
PM me if you are interested in switchin brokers and I will work on this.
Attn dissatisfied Ameritrade customers - a friend recommended AFTRADER.com and I just called them.
They answered the phone on the FIRST RING!!!
Very amenable, knew the friend that referred me. Good margin rates, no share limit, $9.95 flat, and hinted that he would work with me on commission if I traded enough.
Check it out and PM me with your reaction. Maybe if we get a colaition of traders from this board we can get a n additional break on the commisions.
Credit counselling isn't all that bad. When you've caught up, the negatives should disappear. Bad stuff stays on for eight years, sucessful counselling should be gone in 3-5.
Daytrading or swing trading (which is what I am trying to do) is incredibly difficult. I've spent well over 40hrs a week for several years studying charts and trying to get to the intuitive level of interpreting them so I can trade effectively. I've developed a system for automatically downloading thousands of charts daily so I can scan them more effectively.
I've lost my shirt...
My only rational reason for continuing is that it has been a very difficult market and I feel I am learning. I will be inheriting some money in a few years and by then I hope to know what I am doing.
Best of luck to you in all.
Yes, they take the whole commission with a partial fill. It's in the fine print on the commission page.
I'm checking out IB also, but want to know if the fee goes down on larger orders - .005 on a 5,000 share order would not be a good thing.
OK, do we gap up tommorrow or gap down and then rally?
My biotechs are holding pretty well, most staying in a trading range.
If he doesn't get eaten by another whale..
Ameritrade seems to be taking orders but not processing them, CINN also crossed MLNM at the same time. Anyone aware of a problem out there?
Right, forgot about that... That will help, but I still want the old system back.
I almost never place market orders - I always place limit orders at market or a penny or two above if I really want a stock.
The non-pro rating thing is what is probably going to make me change brokers. Just wanted a stock with 100 showing by MM at my price, if I got a fill for 500 I would be happy, but 100 would have not made the trade worthwhile. Many times before I would place a limit order when 100 was showing and get 500 or 1000.
DATEK vs Ameritrade -
It is definitely the activity screen refresh.
Just had a trade go off in two parts within seconds but the second part did not refresh.
DATEK vs Ameritrade - It may just be that the activity screen is not refreshing promptly.
A few modest pullbacks in biotech this AM, but many stocks continued a strong move up. Pullbacks just seemed to be headfakes for the MM's to try to get some inventory.
Unless contitions deteriorate, the rally seems to continue in biotech.
Please can the noise.
Interactive Brokers.. info needed but can't get through to cust. service.
Can someone tell me what their commission structure is? Site is ambiguous. Does it continue at .005/shr on a trade of several thousand shares?
Is there difficulty getting through on the phone once an account is established?
I need to dump Ameritrade because front loading the commission will really hurt if you get a partial fill.
Have you noticed that Ameritrade is no longer pro rating commissions for partial fills?
"The only thing that has changed over the past 10 years is that we have had an historic bubble that drove the market to valuation levels that have never been seen before. "
So you don't believe that the access to more real time information and charts by the average investor is going to affect the market?
You don't believe that computer analysis by trading firms and automated trading is going to affect the market?
You don't belive that the unprecedented shorting taking place in this market is going to screw up some of those patterns?
I believe all three of these factors, and probably more that I haven't mention, can screw up long range technical analysis.
The problem I have is basing any assumptions on the "past 100 years of stock market history"...
Surely the market has changed more in the last 10 years than it did the previous 90.
A good BIO swing play ALKS. Blocks have been going down all week at $5.70+ 75,000 @5.75 today. Also has good long term potential.
I posted this earlier but misdirected it,
Zeev, when you have time could you explain what just happened with MERQ? What was the basis for your call, does the stock do this every quarter?
Zeev, when you have time could you explain what just happened with MERQ? What was the basis for your call, does the stock do this every quarter?
The most battered of the bios (ORCH,STEM,BTRN,RZYM, and many more) seem to be hitting bottom and starting to reverse. STEM traded up to $.63 today but 96,000 traded just under .54 after close so it seems there are still some big bag holders that are in trouble.
STEM will be a good play when the sector reverses just because of the name recognition... They'll pump the heck out of it.
I am not sure about Scottrade's policies.
No, they actually purchased a stock at market for me when I did not get a fill. I was credited with the difference the next day. I think there will be a comparable adjustment in this situation, that is if the order was actually hung up and the stock was available at that price.