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Stock market
calrugerfan
Member Posts: 18,209 ✭
Stock Market
Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be another ENRON.
Please review any holdings you might have in the following stocks: American Can, Interstate Water,National Gas and Northern Tissue.
I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue reached a new bottom today and millions were wiped clean.
It's a though market out there. Be careful......
[:D] [:D] [:D] [:D] [:D] [:D] [:D]
When a worm wants to relax,does he go fishing?
ATF,Eagle Guns
Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be another ENRON.
Please review any holdings you might have in the following stocks: American Can, Interstate Water,National Gas and Northern Tissue.
I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue reached a new bottom today and millions were wiped clean.
It's a though market out there. Be careful......
[:D] [:D] [:D] [:D] [:D] [:D] [:D]
When a worm wants to relax,does he go fishing?
ATF,Eagle Guns
Comments
AP
Stocks Plunge; Dow Falls More Than 400
Thursday July 26, 3:26 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks Plunge on Lending Worries, Taking Dow Industrials Briefly Down More Than 400
NEW YORK (AP) -- Wall Street suffered its biggest plunge of the year Thursday, leading global markets lower as investors fled stocks amid increasing uneasiness about the mortgage and corporate lending markets. The Dow Jones industrials briefly fell nearly 450 points, while Treasury yields plunged as investors moved money into bonds.
Investors who had been able to shrug off discomfort about subprime mortgage problems and a more difficult environment for corporate borrowing appeared to finally succumb to those concerns after another disappointing home sales report from the Commerce Department early Thursday. The Dow surpassed the 416 points it lost on Feb. 27 after a nearly 10 percent decline in Chinese stock markets.
Feeding the selling were concerns that higher corporate borrowing costs will curb the rapid pace of takeovers that have driven major indexes this year. Investors also feared the sluggish environment for home sales and continued defaults in subprime loans would spur debt defaults and weigh on corporate earnings.
While stocks skidded lower, investors poured money into the safe haven of the bond market. The soaring price of Treasurys pulled yields lower, and the rate on the 10-year note plunged to 4.79 percent from late Wednesday's 4.90 percent.
"Worries that have been out there for the past couple of years are coming to a head right now," said investment strategist Edward Yardeni, president of Yardeni Research Inc. "It's show time.."
Thursday's trading was the latest and most extreme in a series of frenetic sessions over the past month -- many also accompanied by triple-digit swings in the Dow -- as investors sold on worries about the subprime fallout or bought on optimism that there wouldn't be any widespread problems caused by mortgage failures. Many analysts have described the back-and-forth trading as overwrought and based more on gut emotion than careful consideration of market and economic fundamentals.
That was their feeling again Thursday.
"The rally in bonds at this point looks a little bit overdone," said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles. "If you're going to park money temporarily then cash I think is the way to be but I think that we're going to form a bottom. I think people are going to be legging back into the market."
In late afternoon trading, the Dow plunged 323.28, or 2.35 percent, to 13,461.79. Its intraday drop of 449.77 was the Dow's largest one-day point decline since it lost 684.81 on Sept. 17, 2001, the first day of trading after the 9/11 terror attacks.
Broader market indicators also fell. The Nasdaq composite index tumbled 58.04, 2.19 percent, to 2,590.13, while the Standard & Poor's 500 skidded 36.71, or 2.42 percent, to 1,481.38.
The declines triggered a global sell-off in stocks, causing minor losses in Europe to accelerate rapidly along with the Dow's drop. In Europe, Britain's FTSE 100 closed down 3.15 percent, Germany's DAX index dropped 2.39 percent, and France's CAC-40 fell 2.78 percent.
Markets were closed in Asia before the rout got under way. Japan's Nikke stock average closed up 0.88 percent and the Shanghai stock market composite added 0.52 percent to an all-time high.
Wall Street also found more immediate reasons to sell during the session. Among them was disappointing home sales figures released by the Commerce Department, which further eroded confidence in the housing industry's ability to rebound.
The Commerce Department reported that sales of new homes fell 6.6 percent last month to a seasonally adjusted annual rate of 834,000 units, more than triple what had been expected and the largest percentage drop since sales fell by 12.7 percent in January.
This boosted anxiety after quarterly results from home builders including Pulte Homes Inc. and D.R. Horton Inc. were squeezed by a sluggish environment from home sales and continued defaults in subprime loans.
"Wall Street continues to walk a wall of worry," said Ryan Larson, a senior equity trader at Voyageur Asset Management. "The housing market continues to be a story, and nobody knows when it will rebound. But, the real concerns are about credit and oil pushing higher."
Also stunting stocks was a disappointing durable goods report released by the Commerce Department. Though sales of big-ticket items increased by 1.4 percent last month to a seasonally adjusted $217.07 billion, durable goods excluding transportation equipment had an unexpected drop.
The Labor Department reported that jobless claims fell by 2,000 to 301,000 in the week ended July 21, slightly better than analysts' expectations.
Investors also reacted negatively as oil prices climbed to almost $77 per barrel during the session, stoking the market's worries about inflation. However, crude pared gains in the afternoon when a barrel of light sweet crude fell $1.09 at $74.79.
It all led to a frantic day for stock traders.
"It has been pretty volatile as of late, but now fears about a credit crunch are spreading more than they have in the past -- and that's causing this drop," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. "That's hurting the financials, and now energy companies are joining the party because oil is so high. They make up a large part of the S&P 500."
Wall Street, now at the peak of second-quarter earnings season, has been extremely volatile lately -- a signature of typically slower trading that has been heightened by record runs in major market indexes. On Thursday, declining issues beat advancers by a 14 to 1 basis on the New York Stock Exchange, where volume came to almost 1.85 billion shares in late morning trading.
Both NYSE Group Inc. and Nasdaq Stock Market Inc. reported that their electronic trading systems were functioning normally, and no problems had been reported.
Ford Motor fell 4 cents to $7.93, though it had been broadly higher during the session after it reported cost-cutting and a turnaround in its core automotive operations pushed its second-quarter to a profit. The company had posted seven quarters of losses as it grappled with sluggish sales and a major overhaul of its operations.
Dow component Exxon Mobil's disappointing second-quarter results also weighed on the overall market, even as energy prices continued to spike. Shares fell $6.03, or 6.5 percent, to $86.76 after it reported a smaller profit than analysts expected.
The Nasdaq's losses weren't as steep as other major indexes during the session due to strength from Apple Inc., which surged $6.36, or 4.6 percent, to $143.62. The iPod and iPhone maker's earnings easily surpassed Wall Street projections late Wednesday due to strong sales from its computer offerings.
Home builders sank after several disappointing reports. D.R. Horton fell 70 cents, or 4 percent, to $16.78 after it posted a fiscal third-quarter loss on charges to write down the value of unsold inventory and deposits on land.
Pulte fell $1.15 cents, or 5.5 percent, to $19.86 after it posted a second-quarter loss amid the struggling housing market.
Dow Chemical Co. dropped $2.81, or 6.2 percent, to $42.98 after second-quarter results missed expectations. The company said profit during the quarter rose 2 percent as strong international growth offset weakness in the North American housing and automotive sectors.
But it's not necessary to buy near-bankrupt companies and hope they resuscitate. That's risky business, and definitely not for the faint of heart, nor for anything but disposable money, like gambling in Vegas.
When the market is at an obvious low, though, and you're young and buying to hold your stock or put it in your 401k plan, there's no better time to buy. A market low, regardless of the reason, will eventually return to a previous high based on past experience. If the highest the market has ever been is 11,000, it may go even higher, but that's not the ideal time to buy. The ideal time to buy is when the market has been over 10,000 for a long time, and then suddenly it's back at 8,000. Because the likelihood of its returning to 10,000-11,000 is a virtual certainty in the long haul.
Of course, if you're retirement age and trying to protect your money, the thing to do is get mostly out of the stock market -- wait for a market high, then move your profits to a safe money market account. Because you can't afford to lose it anymore and wait to make it back.
The people who have waited for the market to hit 8,000 and then put their money in a money market account may have prevented further paper losses in any future dips, but they have also guaranteed that they will miss at least part of the ride back to the top. In other words, they will almost certainly repurchase the same stocks higher than they sold them, losing the difference.
Since the guys who oversee 401k plans usually take 24 hours or so to get an order placed and executed, if you suddenly see the market spiking upward at the end of its slump and call your broker today to rush back into the market, chances are you'll be moving your money market funds back into the stock market at tomorrow's high, rather than riding today's elevator out of the basement.
Tricky business. When you're too old to afford deep losses, get your money out of the market WHEN IT'S HIGHER and put it into a safe place like the money market. If you sell low, you're solidifying your losses.
When you're young and buying to hold long for retirement, BUY INTO STOCK FUNDS WHEN THE MARKET SUCKS. Like now. I don't mean individual stocks, mostly, but good stock funds. However, if Disney is usually a $35 stock, and right now you can get it at $19, what's the difference if you have to wait a couple years for it to ride back to $35? Chances are, you won't have to wait that long anyway. Did you know that Disney was once at $70, and they had a stock split (doubling the amount of stock) in order to keep it at around $35? Even if the company's having a slow period, or thinking of revamping management, and the normal price has been no higher than $26 in a while, with the market at 8,000, $19 is a buy price for Disney stock.
Just thought I'd share my thinking on the matter. Don't put the rent money in a sour market because you don't know how long it will stay sour, but if you're investing for the long haul (5, 10, 20, 30 years) the old "buy low" advice holds true, regardless of the reason the market is down. Your investment dollars are more powerful at the moment because they will buy you more shares of good stocks.
- Life NRA Member
"If cowardly & dishonorable men shoot unarmed men with army guns, the evil must be prevented by the penitentiary...and not by general deprivation of constitutional privilege." - Arkansas Supreme Court, 1878
A few suckers probably bought back in so its time to shear them.
Make no attempts to adjust your portfolio, speculators and day traders are now controlling transmission [:o)]
quote:"It's hard to say which direction stocks will move, but we're expecting to see a whole lot of trading volume -- three days worth of trading all in one," said Fred Dickson, chief market strategist at D.A. Davidson & Co.
Wednesday will be particularly busy for investors since it also happens to be the last day of the month, a time when traders, hedge funds and mutual funds often square up their positions.
And for some, the day also marks the last day of the fiscal year. It's a day when many mutual fund managers will try to offset their capital gains with their losses to minimize the distributions paid out to shareholders, said Dickson.
Not to worried either about work since the place I work at now Even still had profit sharing during the last down turn. They did not lay off anybody either. Did not even cut hours.
C&P
Thoughts on Recent Equity Volatility
Recent Volatility
Through September, the S&P 500 increased 9.0% on strong domestic macro-economic data points and the really attractive corporate results (benefitting from tax cuts and favorable pricing). Since then, the market fell 1.0% during the first week in October and 4.1% last week. This week the S&P 500 has recovered and experienced the strongest single day performance since March at +2.1%. The turbulent markets have many investors scratching their heads and wondering if the recent action is the beginning of the end for the longest bull market in history. We provide some context and our outlook below.
Putting Things in Perspective
Although the 4.1% decline last week was painful, the overall market suffered a greater setback in early February, when it declined 5.1% in one week due to a spike in technical driven volatility and inflation concerns. Since the last recession, there have been 12 other weeks where the market has declined more than 4.1% as well as a similar number of weeks where the market has increased more than 4.1%. When examining metrics that compare market volatility (fear) with future growth expectations, investors have had more significant concerns about the market during ~15 other periods of time since the last recession.
Our View
We believe the performance last week is best characterized as a brief panic attack that we do not think will turn into a larger downturn. Volatility in the market occurs from time to time and is actually healthy for the overall market. The S&P 500 is currently in the longest expansionary period in history and investor angst has been building in the market regarding when the domestic market will face a downturn. Multiple small potential headwinds to the market have popped up recently, such as ongoing trade tension with China and increased targeted lending rates by the Fed which could slow US growth. However, other fundamental macro-economic data has remained strong and early positive earnings reports for third quarter results is supportive of our view that the domestic market still has room to move higher. We remain focused on investing in domestic centric companies, as we believe the US should experience the most attractive near-term results and is unlikely to experience a recession in the next 12 months
LOL
I am down 6.2%
But I am still getting dividends[;)]
Dems are walking around wondering what in the hell hit them.
We are living in very historic times. Don't know if the numbers will be static, climb or fall.
Put everything together for the past year or so and what happens everyday since elections we are on one great ride be interesting what history will record
Just looked at it again, and now it's almost $9 a share.
It's looking good, and I think within 2 years will hit close to $30 a share.
There's generally a reason why they are only $.05 and it isn't good.
My neighbor created the product and sold the patent. He still owns millions of shares in the company. One good announcement from the government could make the price sky rocket. And given current political agendas, it looks like what needs to be said will soon be said.
quote:Originally posted by Ray B
There's generally a reason why they are only $.05 and it isn't good.
My neighbor created the product and sold the patent. He still owns millions of shares in the company. One good announcement from the government could make the price sky rocket. And given current political agendas, it looks like what needs to be said will soon be said.
I keep all of my nickels.
But if you were asking how to buy them, any stockbroker can do it for you. Expect to pay a higher commission and the bid/ask spread will be large. You'll probably have to pay before they will place your order with a cashier check or money order. (That alone should tell you about the risks involved).
quote:Originally posted by Ray B
There's generally a reason why they are only $.05 and it isn't good.
My neighbor created the product and sold the patent. He still owns millions of shares in the company. One good announcement from the government could make the price sky rocket. And given current political agendas, it looks like what needs to be said will soon be said.
You'd need a lot more information than that to determine if it could be something worth trading.
Generally, stocks in that price range, trading on what are known as the "pink sheets" (they're not listed on the regular exchanges) are more scam than legitimate company. Most are just "share printing machines" that raise money for those running the "company" through infinite dilution (issuing more and more shares).
In your case with your neighbor are you saying he owns "millions of shares" of his own company that created the product or are you saying he owns millions of shares of the company that bought the patent from him?
If he owns shares in a public company he controls there could be some value if unexpected patent royalties were to be paid to that company, but there are many questions that would need to be answered first. (You need to confirm any information, you might want to trade on, independently, as he may be trying to rip you off.)
You need to know exactly what the patent is, how easily it could be "worked around," when it expires, what the royalty arrangement is with the company that bought it, if the company that bought the patent is legitimate and would actually pay royalties, how many shares have been authorized and issued, etc.
I'd say it's highly unlikely there is anything legitimate that you could make money trading on, but on rare occasions there can be unrealized value in a pink sheet issue.
If you want to send me the name/symbol of the company, I'll see what I can find on it, but I doubt it's anything more than a scam to separate people (you, in this case) from your hard-earned money.
Check and see if the CEO, CFO Board members own stocks. If not, that will tell you more than enough.
Find out about the company as a whole,, what they do, where are they based? All the info you can get is helpful.
If the stocks were $80 yesterday, and 5 cents today dont expect 5c stock to become a $20 or $80 stock.
I use to buy and sell SPAB (spacehab) they owned the modules in the space shuttles. Basically in the shuttle, all "living and working areas are modules and those modules are (were) owned by spacehab(itat) and leased to NASA. Once upon a time their stocks were at around $186 a share. But for some reason I have no idea, their stocks fell to .38-.61 range. And for 2 years I would buy at .38-.42 and sell for .55-62ish. One day out of the blue the stocks were $4.50!! The keys on my computer were smoldering when I finished placing that sell order. A few weeks later they were back down to .75 and then back and fourth 75 to $3.??-$4??. And then back to .38 and poof delisted. They got dumped because they were unable to stay over $1 for so many days of the past year.
The reason for the stock jump was the shuttle's destruction over Texas. Spacehab LEASED the modules to NASA. So NASA was SUPPOSE to have insurance on them. To the tune of $138M!!! Problem is, NASA failed to insure them. SPACEHAB collected some small money, but never got anything from NASA. In fact they sued NASA for failing to insure the modules and the case was thrown out of court (imagine that). If they had collected that money there is no telling where those stock would had gone.
After being delisted, they were bought out by another aerospace co in Houston and they had a new ticker symbol, the stocks were pretty stale at $1 and I quit messing with them.
Can anybody tell me anything about investing in stocks that have a current price of $0.05?
I don't buy individual stocks, only funds, as picking a single stock is like trying to pick the fastest horse in the fifth race...
Personally I do both. Right now my E-trade is a little over 50% ROI since 2009 and my 401k's are averaging 20-30%
Penny stocks are risky and can either gain or lose you a lot. I stopped messing with penny-stocks when the fees got out of hand.
the ones that have done the best for me were
TASR - Bought at $4.88 Closed yesterday @ $11.64
OLN - Bought at $12.54 and $14.87 Closed yesterday @ $23.10
RGR - Bought at $11.25 Closed yesterday @ $52.37
OLN and RGR pay dividends which I have immediately reinvested into the stock
A recent addition is MMLP (Martin Midstream) Paid $38.64 Closed yesterday @ $45.49 and have been paid dividends twice this year and the dividend has increased each quarter this year with no sign of stopping.
I am essentially making my own fund. The only regret is not buying more of those stocks than I did, but I am taking a long position and not a short term trader
Some brokerages charge $10 to trade pinks. You have to factor that in on the buy and sell. While I am no expert, I can't name a single penny stock that turned into a giant. More giants turned into penny stocks from my experience.
I made good money off of AMR back in the day when it would bounce between $3-$30. Made a couple $1k off planet hollywood stocks after they virtually went belly up. Almost like clock work 10 cent today 25 tomorrow, 10 cents the next day. I had a plan that if it followed that path for 3 months I could turn $100 into $1M. Well I didn't get to $1M but it worked well enough to clear me not quite $2k.
Of course things dont always go well. I got in on a company that was trying to upstart Broadband over power lines. Sounds like a great idea, and it's still a growing market. I dropped my $100 on it, worked it like a dog, always seem to move when I couldn't get near a computer. Coupe good trades here and there had about 8k shares just from buying and selling and poof. One day no longer traded. So You could say I lost $100 or you could say I lost what was invested in the 8k shares. About $400.
Vise Buy @ $58 currently $175
Ford Buy were $2-$8 I sold last week @ $16.08
PFE Pfizer (awesome stock incredible dividends) Bought them at $18 and sold @25. Wish I kept them now. They are $28-$29.
I had Tesla @ $10!!!! Got nervous with the bad news of the chevy volt, scared me, sold $under $20 and today they are around $80! Damn it.
Same for Trulia. Bought in @ $30 watched it bottom out in the $15's. Held my breath and let go if it @ $32 and it currently sets @48. Another damn it.
I did OK with bear sterns. I cant recall what I made on it. I bouhgt 1 day for a buck or 2 and sold for $8-$10 2 days later maybe 3 days.
My loses are huge. I had GM and lost $3k on them. Also lost $3K on Citi.
Using scale numbers for simplicity, I had $16K invested, the recession and the loss of the 2 stocks cost me 50% so I was down to $8k. Dug into visa and a few others and today my stocks are sitting at $32K. So I managed to double the initial investment despite not 1 but 2 massive losses and a recession. So I know if I can do it, anyone can!
If I have any advice at all, I would say that V is the express way to big money. I still believe it has no problem doubling over the next 2-3 years. 100% in 3 years smokes any rate the banks will ever pay.
I bought AMR (AAMRQ) at $.25, kept it about two years and it went to over $7 and I sold when it passed $6. Has dropped to $2.50 last few weeks and gone back up to $3.50 Friday. Think it will go to $5 within the next month or two. If the court approves the merger, the price will go HIGH.