%^%# i just got a margin call from Datek! I have 3 business days to send $960.00(which I don't have) or they may liquidate some of my stock! I guess if the stock goes up between now and Wednesday maybe I'll be saved. Any ideas?
Unfortunately, when I loosed my job my credit went to hell, the $4000 I got for my trading capital is from my fianc?e', who would kill me if she knew what was going on. I don't have a credit card. Before CY I made $1000 on my $4000 trading capital in just over a month! Pretty good I think. Now I'm well below what I started out with, thanks to CY. This really sucks. I don't even tell friends and family any more if I made money or not from day to day. The reason I don't tell any more because I found out that if I make money, then I'm smart investor, but if I loose money then I'm a dumb gambler.
You are correct... wait it out for the stock to rise and the call to disappear or else sell some shares. I had to sell some of my ELON shares once just a week before she took off on super news. I still won big in the end. $960 is no big deal... I sold 5500 shares of AVX on Thursday at a whopping $30,000 loss! No paper loss there... that was a REAL loss. My new CY shares will recoup that loss though. Of that I'm "sure." TIM <smile>
I think we may be coming from two different realities. I'm probably the poorest trader/investor here. I only have 150 shares of CY (I bought at 53 7/16 long), but it is my entire portfolio and all of my money(I know, stupid to put all of my eggs in one basket, but I was doing quit well until I got involved with CY). I only made $4000 last year at my business (I'm self employed since I lost my CDL due to a DUI). So you have to compare my loses as a percentage to my annual income and the fact I only have 150 shares to make up any lose due to a sell off to cover the call. For every $1 CY gains I will only gain $150. Does CY have to go up $6.50 or so by Wednesday to cover the $960.00 Datek wants to cover the call? Or if only goes up a little will they leave me alone?