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Devon Energy Corporation Message Board

  • jim_southflorida jim_southflorida Mar 22, 2005 4:45 PM Flag


    Will be re entering DVN tomorrow IF it goes under $46.00. Nine of the ten E&P's that I follow were down today, led by CHK (I'll be buying tomorrow if it hits $21.60) & CNQ. They were the weakest. CL will probably continue to correct tomorrow. NG held up fairly well today. The market place, in general, was in a 'selling' mood the whole of the afternoon. Would'nt be surprised to see it continue tomorrow, especially in the E&P's. These corrections in the E&P sector, as we all know, are becoming common place. The last one was on March 10th, just 9 trading days ago. Quite a game & it continues. Good luck to all longs (investors & traders).

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    • Jim - Thanks for your advice. And thanks to all for their good advice. I'll read up and make a decision soon. Once again, thanks to all. Best regards from the Brownhornet.

    • Hornet, thanks for the welcome back comment.
      I see you received pleanty of suggestions re the broker situation. I use BrownCo...very good service, cheap, & has the verly lowest margin rates, if you use margin at all. The bottom line is that it is imperative you switch over to one of the firms recommended. You will be paying $5.00-$22.00 no matter which one you use. The $22.00 is BrownCo's high (broker assisted) & the $5.00 is the low for either on line or by touch tone phone (market order), the lowest. It's $10.00 for a limit order. These prices are good on up to 5000 shares. You cannot trade paying $450.00 a trade. The broker will be making more money than you. Take the time & look into it & make the change, if you want to trade, & save a ton of money. Good luck to you, no matter what you decide.

    • Earlier I wrote "I bought more stock dollar wise than I have in the past three years". I noticed that in listing those buys, in my haste, I forgot my 1k CNQ to go along with my 1k APC / 2k DVN & 4K CHK. A boatfull.
      Please take a up a collection for me if I get wiped out. Thanks & luck to all.

    • Discount brokers charge in the range of $7-$20 per trade if you put in your own trades online. I make limit trades for 1000's of shares for $11.

    • Semidutch - Thanks for your reply. Harrisdirect sounds like a viable alternative to UBS. I could certainly meet the 100k criteria. I just have to get off of my duff, and find out the best way to trade. Once again, thanks for your input. Best of luck to you. The Brownhornet.

    • Wholdcroft - Thanks for your input. As I said in my previous post, I would love to trade more, but the prices from my broker seem high to me. I'm going to have to shop around, and get educated. Best regards and good luck from the Brownhornet. Schwab sounds like a reasonable alternative. Once again, thanks for the advice.

    • I am using Harrisdirect for nearly all the portfolios that I manage. However, I would ONLY recommend them if you have more than $100K in your portfolio, the level at which you get their Marketspeed software. In any case, unless you depend on a broker for advice, you are always better off with an internet broker, even Harrisdirect. Instead of $450, you will always be paying less than $20!

    • Brownhornet -

      If your question was for Jim directly, I apologize for butting in. I have accounts with Schwab, Scottrade and Fidelity. Fidelity would be the most expensive for the trade you mentioned and Scottrade would be the least expensive.

      Having said that, I prefer Schwab at $12.95 plus SEC fee. I've been a Schwab customer since the late '80s. I am not a Schwab employee/owner but if they would like to compensate me for this endorsement, please write...

    • Jim - Welcome back into the fray. As you know, I'm long on these stocks, but I would love to make trades everyday. One of the hang-ups I have is the commissions I pay every time I buy or sell. I'm currently using UBS. Should I be looking at Harris-Direct, or should I be using an online broker? Any input would be appreciated. On 1,000 share transactions, I'm paying in the vicinity of $450.00. As long as I'm holding, that's OK, but when the shit hits the fan, 450.00 is significant. Best regards from the Brownhornet.

    • No one can argue with your approach - trading for the moment will be the only way to make money - i think, though we will have to settle for smaller gains on these trdes until the summer - 50.00 oil surely will be tested on the downside - if there is going to be any weakness at all, it will be this quarter.

      Good luck

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