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GameStop Corp. Message Board

  • unseennc unseennc Dec 4, 2007 8:34 PM Flag

    Bank of Canada cuts rates today, BOE and ECB soon to follow

    seems like we are going to have a massive worldwide rate cutting in the next week. This should be good SHORT term for the markets. Central bankers are worried it would seem. Rule number 1 on the street do not bet against the FED. We have 4.5% of rates to cut if need be. The return of cheap money is at hand it would appear

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    • Zecco doesn't do covered calls right. They treat it like a short sell. At least they did with me. They don't have good charts but you get what you pay for. I use scottrade charts along with stockcharts.com and place trades at Zecco. I use Zecco for my IRA and will probaly keep some in ofr DIV plays. but am switching to tradeking due to the covered call thing and for a couple other reasons and since I've been trading options more and more. Nothing I think most people would care about. They are updating there site and tools so I may go back keeping all three accounts open. Also have one at Fidelity, too expensive there.

    • I know what you mean. Like most things in life, trading has it's ups and downs. I've had more downs at this point and I've lost a chuck of my capital, but I still have plenty to keep me in the game. I was definitely too caviler with my money early on. I'm actually lucky that I didn't dig a bigger hole!! I wondered about trading stocks with dividends. I wasn't sure if it would work because I assumed that many other would try to do the same thing. It does make sense that the smaller div stocks are better plays. They probably receive less attention. Zecco looks like an interesting site. Do you use it for all of your trading? I use Ameritrade, although Zecco's seems a lot cheaper. Are there any draw backs to using Zecco?

    • you might want to look at CBI it had a nice selloff. Might be a good time to jump in. Use your own DD I bought in around 55.00 again.

    • I just follow my charts once the trade is developed. I have an idea, I research the stock and I buy when my charts say oversold and sell when my charts say overbought. Sometimes the charts lie and the stock stays oversold or overbought. those are the times I have to make a decsion based on my research. If the stock is in a bull mode I will double down or let it ride for more profit hoping to get out before the correction, If I don't think the stock has the mo I sell and take the loss or a sell and take the small gain.

    • 1-2% a day is great. When I first started day trading, I had a tendency to get greedy and try to make as much as I could. I actually turned many winning days into losers rather than taking my 1-2 and calling it a day. At this point, I'm happy with that 1%.

    • Do you usually let things develop a bit before you jump in? I've been burned by trying to react too early. I know I miss some opportunities, although I'd rather that then getting ambushed.

    • Depends what week it is..lol. But so far this year has been good to me. a little luck, alot of homework, and faith in human resourcefulness and not giving into the darkside of doom and gloom are what has carried me thru these last years. Just keep plugging away and you'll learn the market. Just perserve your capital so that you can stay in the game. Zecco is really good for beginners with their free trades you can play shortterm moves without cost (except for taxes). One thing I like to do when the market is flat and not moving is trade for div. Usally if you pick the right stock the day before ex-div during an oversold condition and ride the stock up, the next day it will open lower but usally not as low as your div. therefore you get the div, usally some appreciation in the stock and all for low risk. Cons on this is it takes usally a couple weeks for the div to show up in your account, you don't get the tax break since you are not holding for more than a day or two. Also look for those that are not paying big div, the big payers like banks, telephone, utilites tend to drop hard after div. It's the ones paying 1-2% yeilds that are the best plays. And if you don't have to pay commission that $200-300 you get in div is a nice little pad. Do it 3-4 times a week and you have a nice little extra play money for earnings plays with OPM.

      That being said in a market like this it is too volitale to do this trade.

    • I realize that no one can bat 1000. All you need to do is have more winners than losers. It sounds like you are able to do that relatively consistently, so it's a benefit to get your take on the market and on individual securities. I've still got a lot to learn.

    • No don't mind but most of the trades lately have involved the same companies, JEC and CBI are new for me so I mentioned them. As far as DE, AG, CNH, GME, ATVI I've been trading them for months and they have been very good to me but FWLT, FLR also been good just don't trade them as much. FWLT will be spilting in JAN I think so I will be following that one more. But if something new comes up or I see something I have no problem sharing my views. Just be aware that I am wrong at times. Lost some money on the ERTS trade on Mon-Tues.

    • Congrats on a good day of trading. Thanks again for your recommendations and insight. I'm always interested in hearing about your trades if you don't mind sharing.

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GME
37.86-5.68(-13.05%)Nov 21 4:04 PMEST

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