I found that Ameritrade reps often make up answers. I am learning to trade better, but not taking profit often enough because I have to cover commissions, or I will take a position that is too large to "cover commissions".

I am hoping that the $6 max round trip on freetrade will improve my mindset and my profitibility.

In edit - It just occurred to me that I prefer a correct e-mail response to a made up telephone response.

False alarm - just got this e-mail reply.

Dear Valued Freetrade Client:

The wire receipt and the creation of the wire "crossed in the mail",
the call has been removed this morning and the account will be reset.

Sincerely,

Client Services
Freetrade by Ameritrade

_________________________

My current opinion on Freetrade - platform is very awkward but fills seem to be good.

With freetrade you can't talk to anyone, only e-mail.

I have one in.

The thing that confuses me is that unless I go over my regular margin, how can they prove that it was my intent to day trade?

The PR indicated that he'd planned himself out of a position. Just looks like extreme cost cutting to me.

Reg T Help - I think I am screwed here... Deposited funds in my new Freetrade acct and bailed on a MLNM position E.O.D. becuase there were too many blocks sold at 9.50. This generated a 8,000 reg T call even though I never went over my available funds for regular margin.

I think I understand now what I did wrong, I should not have used ANY of those funds on the first day of deposit.

This Reg T thing sucks. I think it is just a way to get rid of as many daytraders as possible.

Biotech - looking at the 4yr weekly chart:

http://www.bigcharts.com/custom/datek-com/datek-rt2.asp?osymb=btk&symb=btk&time=4yr&freq...

Bollinger band tightening significantly. Momentum showing very neutral. MACD neutral with a positive bias (to borrow a FED term :).

I would guess this means an opportunity for a strong break to the upside with general market strength. But my lack of experience makes this a just a guess.

Augie? Other chartsters?

Completely O.T. I picked up some 78's at a thrift store last week. Several Spike Jones, some Sinatra, Crosby, one Caruso in almost pristine condition, and one Marian Anderson.

I want to ship some of them from Colorado to Illinois, does anyone have any suggestions?

duplicate

O.T. I think it is a sad commentary on our system that an ethical man can't function well as President. He has gotten more done outside of the political system than within it.

ISIS - getting blasted. 500,000 went at 6.12 - is this OMG all over again?

I sold some of my OMG today as I am switching to freetrade and can't transfer stock. Hoping to buy back lower. What would your target be for a buy order tomorrow? I'm going to be on a plane for most of the day and will have to put the order in before 11am.

Pure speculation - but could some of the extreme shorting that we have seen in this market be terrorist activity? God knows some of them have the bucks to do it.

If so, wouldn't the Fed be engaging in anti-terrorist activity if they attacked the short attackers?

IMO - not an improbable scenario.

Could you post a link for us learners?

Thanks

Is Friday a full day of trading??

What is your current experience with freetrade - have opened the account but not funded it yet. I am thinking that the smaller toll will help me experiment with shorts & longs and take profits more freely.

You're a real tease aren't you? :)

My account is all f****d up because I listend to all of the talk about OMG on this board... If I had stuck with my biotechs I'd be up another 20-40%.

Oh well, life is just an educaitonal process, isn't it? And in the end, you can't take anything but the Knowing with you.

Peace,
Paula

Because Joe6pk would loose interest and the MM's wouldn't have anyone to pick on any more.

I am thinking SEPR might be be breaking out.

OK wave fans -

http://www.siliconinvestor.com/research/chart.gsp?lotemp=&period=240&chart1=ma&s=OMG&...

I see three distinct selling waves here, diminishing in force.
Does reversal come next?

I sold half at 16.9. Holding on the other half because of the blocks gone at higher levels.

I missed it - didn't see your post in time.

Am watching for a rebound.

Block buying arount $18 has me hoping there will be one.

Yes, but I'd like a more experienced opinion on the pre-market vs post-opening expectancies...

Gee, I'm just sitting on my hands and watching it go UP!!

Big problem this AM - I have to figure out when to sell my MDCO trading shares. I'm not experienced enough to know if I should consider premarket or wait...HELP !!!

Level II from etrade has a click on block listing. Their Market trader software is nice.

Three block trades today in OMG totalling 380,000. About 500,000 in block trades today and volume should be under 2mil at close.

Lowest volume day since the big dump and it looks like the big boys are moving in (out?).

Contact an insurance agent on the heatlh ins. There are less expesnive temporary policies that will cover unexpected events but not routine health care.

Make sure it is an agent in the area you will be staying as some policies are geographically limited.

Wouldn't that be a reflection of things like just-in-time inventory and computerized analysis of inventory and production?

Best & Worst chart -

http://host.wallstreetcity.com/wsc2/Industry_Group_Report.html?Range=4&Symbol=.DBI&Button=BE...

It struck me that NEOT was at the top of the heap this week and GNLB close to the bottom. Not too long ago it was just the opposite.

I still feel that the volitility in biotech has nothing to do with the quality of the companies. It is simply the MM's bringing them up and down to squeeze out their cut and increase inventory for the big push to come.

OMG followers - someone just printed some excellent resources on the Yahoo board and they will soon be buried in crap so I want to repost them here:

http://www.thecdi.com/index2.html

http://www.omgi.com/rd/published_papers.htm

One of the original Yahoo posts:
http://post.messages.yahoo.com/bbs?action=0&board=7079237&tid=omp&sid=7079237&mid=88....


An excerpt from the first site:
http://www.thecdi.com/october2002/article3_future


Over the past year, the big players in cobalt, OMG and Umicore have got bigger. Both companies have secured supplies and markets through joint ventures and acquisitions and collectively account for over 40% of cobalt demand and the supply of added value products.

Umicore has purchased Hall Chemicals which in 1988 was purchasing over 1000 tonnes of cobalt a year; through its trading subsidiary Sogem, it has a joint venture with Norimet to sell Norilsk cobalt. Macquarie Research has recently estimated that Norilsk has been producing around 5,000 tonnes of cobalt per annum for each of the past two years.

OMG purchased the Cawse assets which secured around 1000 tonnes of cobalt plus nickel in intermediate form; OMG has also purchased the previous Manchem carboxylate plant from Rhodia which was using around 400 tonnes of metal a few years ago.


If there is going to be a supply problem, these two companies are in good shape to weather the storm. A relatively small rise in the price will make intermediates more plentiful and enable both companies to fully utilise their refining assets. Being integrated into high value added products will also enable them to benefit from the greater margins.For other consumers, it looks as though they have to be price followers unless they can organise joint venture agreements and guaranteed off-take arrangements with new suppliers.


In view of the importance of this company and their product, how can the INSTY's possibly stay out of it?

I still haven't decided what to do. Freetrade looks like the best commission structure for me, but it is an Ameritrade company and only accepts cash deposits, not transfers.

Ameritrade fills don't seem to be too bad, I am reconsidering my initial negative impression, but they are definitely posting different from DATEK. I have had to start going up a penny or two above the ask to avoid partial fills and in a quickly moving market the system seems to hold on to the order long enough to get price improvement rather than grabbing the shares that are a penny higher.

Once a stock went sub $5 in the past, it was the kiss of death.. I just wonder if that applies these days given how many stocks are trading there now : )

SEPR - a good example of a quick dip below $5.

It would be nice to have a "recommend this post" feature.

* hint * * hint *

ALKS - they're running the stops and it's on the brink of filling a gap on the way back up. CHECK IT OUT.

My garden got a double whammy this year too - the drought and obsession with learning the market.

Mostly I'm following the charts within the sectors looking for swings. Haven't caught AVN or VRTX. Too many good companies out there to know them all.

I think biotech (with the possible exception of IMCL :( is more excitement that "hype" on the news.

I beleive most of the companies have very dedicated scientists that are out to improve the world we live in and make money at the same time.

How much of that was due to the drought?

Curing cancer is to bioengineering as water powered textile mills were to the industrial revolution.

IMGN is still working on MAB cancer cure.

Bacteria will be used to refine gold more economically. Gold is not a rare mineral, only rare in forms that can be mined economically.

Gold and Petroleum will both be seriously devalued within 20 years. Petroleum will probably be displaced by little gas producing bug farms that store energy to fuel cells.

There will be big distribution run in both of these areas before they go down for the count. Don't be a bag holder.

The by-products of bio-engineering will be environmentally benign. The world will go this route out of necessity as current forms of manufacturing are too toxic to support an increasing population.

Strange thought: What would be the market reaction to AG's death?

Still don't know what PMs means.

You may be right about the five years, but I think it will be less than that. In the mean time there will be some incredible swings as the MM's try to suck up all of the shares.

In edit - Precious Metal - got it. I am leery of that area as I think bio engineering will cause serious devaluation within 20 years. I believe that is why the national treasuries are selling off their gold. I'm in the jewelry business and most of my inventory is in silver so if the actual commodity spikes, I'm in!

PM stocks?? Yes I am selling constantly, rotating the winners into new posistions. I ususally buy around 2000 shares at a time, sell half on a pop and let the rest run for a while. Still, I have vacated several of my posistions (BCRD was one :) as they seem to be topping out. Selling a stock I like is getting easier because I keep getting opportunities to get back in on a swing.

SEPR has been an incredible swing trade. ALKS was great until it quit swinging and started just ramping up. I actually made less money from that stock because it was going up so nicely.

I watch mostly biotechs and it does seem like the sector is firming up a bit so who knows, I may actually be able to buy and hold for a while at some point.

Unfortunately, my parents won't buy anything but CD's and Treasuries. I'm sure there are a lot of depression-era survivors that are this way.

I broached the subject of buying a few stocks today (my account has doubled in the last few weeks) and my mother refused to even consider it. She says she won't worry about stocks, but then she worries about declining interest rates.

Very depressing...