Posted by hank,
Wed Oct 31 23:33:00 UTC 2007
It’s time to raise the taxes on the rich in this country. I can’t believe that Warren Buffett only pays 17.7% on his $46 million. Why am I stuck paying 20-30%? That’s stupid. I hope the next president realizes this and fights to lower taxes drastically for anyone making sub-upper-level-executive salaries.
I started trading options about a week ago, and made a little profit on Boeing. Redhat started taking off today, and I might buy a call on that. Watch Redhat!
Tags: stocks
Posted by hank,
Mon Oct 08 12:54:00 UTC 2007
It looks like Redhat is about to rally
Stock up if it goes past $21! It could really zoom. The support is built up long term. I signed up for an options account with Scottrade today. It will allow me to:
- Buy puts and calls to open
- Write covered calls
It’s too bad they don’t offer naked put writing and selling to close. I would have liked to play the game of just trading pure options without ever exercising them.
Tags: stocks
Posted by hank,
Sat Oct 06 00:48:00 UTC 2007
After looking through hundreds of stocks, I think I might check this one out:
It looks technically promising. We’ll see how that turns out.
Tags: stocks
Posted by hardwarehank,
Thu Dec 21 05:37:35 UTC 2006
Yesterday I sold IAAC for a proft of 7.8%. Today, as the chart shows, it fell 30%. I’m sorry for anyone who got owned, but I called the top. ;)
Tags: stocks
Posted by hardwarehank,
Fri Oct 20 00:19:22 UTC 2006
So, lately I have been studying the art of selling short in the stock market.
It’s amazingly difficult to grasp the concept of what I am doing by the
definition given by most people, so I will explain it in a way almost everyone
can understand.
Your brokerage has lots of customers who are investing in almost every stock
on the market today collectively. When you elect to sell a stock short, your
brokerage sells it for you (effectively selling someone elses shares of it)
and keeps a record of the price. If the stock goes up, you lose money because
they have to buy it back at a higher cost, and you must pay the difference. They can even force you to buy it back if it goes up by a fairly large percentage.
If it goes dows, like we’re wanting, you buy to cover, which is basically
telling the brokerage to buy back the shares you sold short. Since they are
buying them back at a lower price, they give you the difference minus a
percentage of interest for the time it took the stock to fall. The interest
rates are such that you cannot hold onto the loan for more than a couple years
generally (about 10%/year right now).
Time to go!
Tags: stocks
Posted by hardwarehank,
Sun Sep 10 09:21:21 UTC 2006
Scottrade will give you 3 free trades for signing up. Just go to
and sign up. You’ll
get your trades as soon as you deposit $500. So far, Scottrade beats Etrade
hands down. The trades are so much cheaper, and I just walked into my local
branch a couple days ago, and they were very professional. They don’t charge
you for account transfers like Etrade does (they charge $60), and they didn’t
let me deposit money and invest it only to lock it to ‘protect me’. Thanks,
now you froze my money. I feel so protected. If it had been stolen, I
wouldn’t be able to get it back. Scottrade validated my account in person
without me having to fax documents to a fax number that doesn’t always work.
Etrade has a computer system running their fax number, and either it is buggy,
or the people running it are incompetant. I’ve faxed in my documentation to
reactivate my account about 5 times, and they still will not release my
account. So, today’s message is: Don’t Use Etrade
Tags: stocks
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