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Brianfo
11-12-2008, 07:17 AM
I would like to buy some stocks with the status of our economy now, I see pretty good value in some of the stocks. My stupid questions is, How do I go about doing that? Is it easy to do on-line? Do I need to find a broker? Any responses would be greatly appreciated.

petegz28
11-12-2008, 07:49 AM
Open an account with Scottrade. You can do everything online. Enter the symbol, amount of shares and press buy.

Hog Farmer
11-12-2008, 07:56 AM
You can go to someplace like www.etrade.com (http://www.etrade.com) and set up an account. Then you can go balls to the wall buying and selling at your convenience. there are other sites out there, try google.

Mr. Laz
11-12-2008, 09:55 AM
study,study,study ....... and then study some more


yes ... it's very easy online to buy stocks

PhillyChiefFan
11-12-2008, 10:56 AM
study,study,study ....... and then study some more


yes ... it's very easy online to buy stocks

Sometimes too easy.

Be careful with what you buy, and know the company and industry they work in. Advice is one thing but I agree with Laz, do your homework before you buy into a company.

Go to www.investopedia.com and look at their tutorials, they have A LOT of information. Morningstar is another great source, as well as cnnmoney.com.

People can earn a lot of money in stocks, but you have to be willing to ride out the turmoil (i.e. NOW) and steadily invest over the years, and don't freak out the second the stock market falls.

It is a GREAT time to invest. A lot of companies with solid balance sheets and cash flow statements are very undervalued.

blueballs
11-12-2008, 11:13 AM
I would like a nice beef or chicken stock
without all the sodium
this isn't a Fire Me Boy thread -my bad

oldandslow
11-12-2008, 11:16 AM
Sometimes too easy.

Be careful with what you buy, and know the company and industry they work in. Advice is one thing but I agree with Laz, do your homework before you buy into a company.

Go to www.investopedia.com and look at their tutorials, they have A LOT of information. Morningstar is another great source, as well as cnnmoney.com.

People can earn a lot of money in stocks, but you have to be willing to ride out the turmoil (i.e. NOW) and steadily invest over the years, and don't freak out the second the stock market falls.

It is a GREAT time to invest. A lot of companies with solid balance sheets and cash flow statements are very undervalued.

...or maybe not.

The bulls will always tell you "it's a great time to invest."

Me, I am a great big, ol' grizzly bear.

This market isn't at its bottom yet, imo, and it's gonna take many years to recover.

Just think, if you would have invested 2 years ago, you could have lost 40% (what was the record price - 14,500 or something like that) of your capital with no respite in site.

I invest...but rarely in the NYSE and certainly not by day trading.

Mr. Laz
11-12-2008, 11:49 AM
i agree ..... the market isn't at it's bottom yet




i still expect to see a 6+ for the DJIA at some point

Mr. Flopnuts
11-12-2008, 11:52 AM
I think a stupid football board is the perfect place to get advice on something of this nature. I'd start with google and work my way up from there. Or, you'll get lucky and one of the 2 or 3 gurus from this board on this subject will see this thread, take you seriously, and give you some real advice. Whatever you do, good luck!

King_Chief_Fan
11-12-2008, 12:09 PM
...or maybe not.

The bulls will always tell you "it's a great time to invest."

Me, I am a great big, ol' grizzly bear.

This market isn't at its bottom yet, imo, and it's gonna take many years to recover.

Just think, if you would have invested 2 years ago, you could have lost 40% (what was the record price - 14,500 or something like that) of your capital with no respite in site.

I invest...but rarely in the NYSE and certainly not by day trading.

after losing considerable amount of $$ (like everyone else) I changed my investments to cash securities, income fund type. I am not seeing any big return, but I have stopped the bleeding until the market turns around.
I can't wait that long as I hope to retire in about 5 years.

PhillyChiefFan
11-12-2008, 01:18 PM
Make no mistake, I am not a day trader either, and I too believe the market will go lower. However, if he is a new investor and is willing to invest via dollar cost averaging, even if it isn't at the bottom he would still stand a very good chance of making money when the market swings upwards.

My 401k is shot to sh*t, and my IRA isn't much better. But I'm diversified, and still contributing to them, moreso now then months past when the markets were teatering on the edge.

IMHO if you are new to investing it is best not to try to time the market by waiting for the bottom. Of course you wish that you invest the day the market hits its lowest point but it's tough to judge, especially for a rookie investor.

I am viewing this as a chance to buy quality companies that will rebound, at a much lower price. Buying what I can without overextending myself, and hoping to ride out the storm until better days.

PhillyChiefFan
11-12-2008, 01:20 PM
i agree ..... the market isn't at it's bottom yet




i still expect to see a 6+ for the DJIA at some point

Sad isn't it? 14,000 just a year or so ago, and its been reduced to what it is now.

PhillyChiefFan
11-12-2008, 01:23 PM
Also, I'm assuming the OP will invest for the long run. Most of my stocks I have held for almost 10 years now, I would never say that day trading is the way to go. Stats prove otherwise. The market will cream you if you are constantly trying to time the market and dipping in and out of positions.

Silock
11-12-2008, 01:26 PM
It's easy to do online.

Invest in stocks that pay good dividends (high yielding stocks that aren't likely to cut their dividends). You'll have to do research to figure out which ones these are. So, you'll need to buy some books and figure out what you're doing. The good news is that you'll have plenty of time to read about how to invest while you're waiting for your money to get cleared into your trading account anyway.

Silock
11-12-2008, 01:27 PM
...or maybe not.

The bulls will always tell you "it's a great time to invest."

Me, I am a great big, ol' grizzly bear.

This market isn't at its bottom yet, imo, and it's gonna take many years to recover.

Just think, if you would have invested 2 years ago, you could have lost 40% (what was the record price - 14,500 or something like that) of your capital with no respite in site.

I invest...but rarely in the NYSE and certainly not by day trading.

I agree that it will take a while to recover, but I don't think it will be THAT long (certainly longer than many are predicting, though).

oldandslow
11-12-2008, 01:47 PM
I agree that it will take a while to recover, but I don't think it will be THAT long (certainly longer than many are predicting, though).

Last major economic crisis that had devaluation at its base took longer than 10 years (1929-1939) and then it took WW II if we believe the New Deal didn't do very much.

Oil is 60 bucks and dropping, my house is worth less today than 5-10 years ago, etc, etc, etc.

They keep pumping money into the economy to try to make it go and its all sputters.

I am not saying this is the great depression, but before we are all said and done, it could get damn close.

googlegoogle
11-12-2008, 01:53 PM
pretty good start-> fool.com/

easy chart. not bad. everything on one page. ->yahoo/finance is good.

ok with charts and layout -> finance.google.com/finance

moneycentral.msn.com/investor/home.asp

moneycentral.msn.com/investor/finder/predefstocks.aspx

Silock
11-12-2008, 02:21 PM
Last major economic crisis that had devaluation at its base took longer than 10 years (1929-1939) and then it took WW II if we believe the New Deal didn't do very much.

Oil is 60 bucks and dropping, my house is worth less today than 5-10 years ago, etc, etc, etc.

They keep pumping money into the economy to try to make it go and its all sputters.

I am not saying this is the great depression, but before we are all said and done, it could get damn close.

Maybe, but this isn't the Great Depression. I think we've escaped depression and are just going for major recession, which was a long time coming anyway.

eazyb81
11-12-2008, 03:45 PM
Also, I'm assuming the OP will invest for the long run. Most of my stocks I have held for almost 10 years now, I would never say that day trading is the way to go. Stats prove otherwise. The market will cream you if you are constantly trying to time the market and dipping in and out of positions.

Actually day traders have been the only ones making money over the last few months, which is why the theory that the "buy and hold" strategy is dead has been gaining steam, or at least a shred of legitimacy.

If you are determined to make money right now, buying the dips and selling the rallies is probably the only way to do it, there's just too much volatility in every sector to win doing something else. I'm actually positive over the last month using that strategy. However, the large majority of people have jobs where it's simply not possible to day trade, so in that case I would suggest taking advantage of the new lows of a few great companies you love and hold them for the long term. Don't just go on brand names though, do your own research. The landscape of our economy could be drastically different in a year or two.

Stewie
11-12-2008, 03:55 PM
Actually day traders have been the only ones making money over the last few months, which is why the theory that the "buy and hold" strategy is dead has been gaining steam, or at least a shred of legitimacy.

If you are determined to make money right now, buying the dips and selling the rallies is probably the only way to do it, there's just too much volatility in every sector to win doing something else. I'm actually positive over the last month using that strategy. However, the large majority of people have jobs where it's simply not possible to day trade, so in that case I would suggest taking advantage of the new lows of a few great companies you love and hold them for the long term. Don't just go on brand names though, do your own research. The landscape of our economy could be drastically different in a year or two.

Day traders have margin accounts. They play both sides of the market and can get their ass handed to them in a heartbeat. The majority of day traders are horrible failures.

Brianfo, if you want to test the waters with a couple hundred dollars, that's fine. I've used Scottrade for over 10 years and they've been great. The reason I picked them over the others is that I can walk into an office and talk with a human being.

Buzzsaw
11-12-2008, 05:06 PM
Brianfo - Buying individual stocks is like gambling, you'll probably lose your money. Keep in mind that the vast majority of brokers/advisors/fund managers/etc - people with finance degrees from Ivy League schools and an army of analysts working for them - can not consistently beat the market. You'd probably be better off with a nice mutual fund. Vanguard's Target Retirement series are outstanding funds - very diverse and cheap. No need for a broker.

http://www.vanguard.com/

Send me a PM if you want more info.

Then again, people like me need people like you in order to make money, so do as you wish :D

Brianfo
11-12-2008, 05:08 PM
I think a stupid football board is the perfect place to get advice on something of this nature. I'd start with google and work my way up from there. Or, you'll get lucky and one of the 2 or 3 gurus from this board on this subject will see this thread, take you seriously, and give you some real advice. Whatever you do, good luck!

I wasn't looking for investing advice. I was asking how to go about doing it.

eazyb81
11-12-2008, 06:07 PM
Day traders have margin accounts. They play both sides of the market and can get their ass handed to them in a heartbeat. The majority of day traders are horrible failures.

No, the majority of day traders that don't know what they're doing are horrible failures and get crushed within a matter of time. The ones that do are able to stay in the game and generate returns.

chiefzilla1501
11-12-2008, 06:32 PM
I agree, buzzsaw. People think the market can be beaten on a hunch, but there are a gazillion well-trained analysts every day who have the same hunches but can confirm/deny that hunch based on painstaking research and analysis. To me, it's more than just gambling. It's like throwing your money down on a poker game with a bunch of professional poker players.

I say that because I think the only reason you'd look to trade online is to avoid the brokerage fees. That's the only reason. I would say that if you plan to trade online, invest in low-yield, high-dividend stocks. If you want to do differently, trade through an advisor, but diversify your assets. The worst mistake people can make is to throw all your money in the stock market. I'm not an investment guy--far from it--but the #1 lesson you learn in Finance is that you need to diversify your portfolio.

Personally, with the way the market is going, I agree that fixed income investments are better bets right now. If you intend to buy and hold, then you might be better off just getting some kind of Spider fund that moves with the S&P 500.

Before putting all your money in a stock market, I'd make sure you know exactly how much you want to put in the market and how much you want to put into other investments first. Your investments are too valuable to gamble it all away.



Brianfo - Buying individual stocks is like gambling, you'll probably lose your money. Keep in mind that the vast majority of brokers/advisors/fund managers/etc - people with finance degrees from Ivy League schools and an army of analysts working for them - can not consistently beat the market. You'd probably be better off with a nice mutual fund. Vanguard's Target Retirement series are outstanding funds - very diverse and cheap. No need for a broker.

http://www.vanguard.com/

Send me a PM if you want more info.

Then again, people like me need people like you in order to make money, so do as you wish :D

Elwaysux
11-12-2008, 07:01 PM
I use a company called BuyandHold. It is 6.99 a month and you get two trades a month for that. The only thing not so great is that when you sell it is hard to get all of your tax information in a great format.

MahiMike
11-12-2008, 07:14 PM
I saw a little baby doing it on tv while talking to his gf on his blackberry. Hurry and buy tonite before it goes up. Great value right now. Recommendations; VZ, MSFT, NLY, BUD

chagrin
11-12-2008, 08:26 PM
Take it for what it's worth, Family Dollar is up 42% this year, and probably a good one to look at for a while

Dr. Facebook Fever
11-12-2008, 08:31 PM
Buy stock in Charmin. People will always have to poop. And since a black guy was elected president the rednecks are going at it double time now. Good investment.

googlegoogle
11-12-2008, 08:33 PM
the thing that pisses me off about stocks is taxes.

there should be a better way or just get rid of taxing stock investments.

banyon
11-12-2008, 08:54 PM
I wasn't looking for investing advice. I was asking how to go about doing it.

I use tradeking:

http://www.tradeking.com/

If you don't have much $ to invest, it's only $5 bucks a trade. Not rally any other fees to take away your gains. I've had no complaints about them.

Silock
11-12-2008, 09:25 PM
I saw a little baby doing it on tv while talking to his gf on his blackberry. Hurry and buy tonite before it goes up. Great value right now. Recommendations; VZ, MSFT, NLY, BUD

No thanks on MSFT.

AAPL or RIMM or AMD.

Rain Man
11-12-2008, 11:47 PM
Here's some good stock-buying advice: watch me, and do the opposite of whatever I do.

As far as the mechanics, I have accounts at schwab and e-trade. Both are fine. I like e-trade's formats and displays better, but schwab's site has better research.

Stewie
11-13-2008, 06:28 AM
No, the majority of day traders that don't know what they're doing are horrible failures and get crushed within a matter of time. The ones that do are able to stay in the game and generate returns.

I was talking about Joe Sixpack "daytrader" getting crushed. Ya know, the ones that see the trading software commercials and buy into the scam? Buying and selling stocks in the same day doesn't make you a daytrader. It makes you think you're something you're not.

The SEC has special rules for real/professional daytraders. They usually fall under the guise of pattern day traders and their accounts are regulated by the SEC via their broker(s). It's a whole different ballgame.

PhillyChiefFan
11-13-2008, 07:25 AM
Actually day traders have been the only ones making money over the last few months, which is why the theory that the "buy and hold" strategy is dead has been gaining steam, or at least a shred of legitimacy.

If you are determined to make money right now, buying the dips and selling the rallies is probably the only way to do it, there's just too much volatility in every sector to win doing something else. I'm actually positive over the last month using that strategy. However, the large majority of people have jobs where it's simply not possible to day trade, so in that case I would suggest taking advantage of the new lows of a few great companies you love and hold them for the long term. Don't just go on brand names though, do your own research. The landscape of our economy could be drastically different in a year or two.

Very true, and I'm glad someone is doing well. That is a good story considering today's volitility! To clarify my statement, I don't mean just brand names, but I personally don't like to invest in a company that I know nothing about from experience, or an industry I am not versed in.

There is a big difference between Ford and Apple, both are well known companies but as anyone now could tell you, their balances sheets are worlds apart.

If you can day trade and you are good at it, and obviously you are, that is an excellent strategy for you. For a beginner, such as the OP, I would agree with the last part of your post.

Research is key the key, IMHO, to making money even in down markets. Just most people are either uninformed or too lazy to research a company's financials, trends, etc.

PhillyChiefFan
11-13-2008, 07:27 AM
Honest question, as I am not a day trader, how much do your returns suffer due to trading costs? Is it significant, or do the returns you receive far exceed your costs?

eazyb81
11-13-2008, 09:15 AM
If anyone is interested in learning more about investing, I highly recommend reading any or all of these books:

Common Stocks and Uncommon Profits by Philip Fisher
The Intelligent Investor by Benjamin Graham
One Up on Wall Street by Peter Lynch
Beating the Street by Peter Lynch
How to Pick Stocks by Fred Frailey

Ultra Peanut
11-13-2008, 09:18 AM
DON'T BUY BLUTH!!!!!!

eazyb81
11-13-2008, 09:19 AM
Research is key the key, IMHO, to making money even in down markets. Just most people are either uninformed or too lazy to research a company's financials, trends, etc.

Exactly. Like I said, most people don't have the time or inclination to put in the research necessary to win in this game. But if someone does have the time and finds the research interesting, you can do well, although even investment geniuses are getting their ass handed to them in this market. I am hardly a genius and while I am up over the last month, I am down double digits YTD just like everyone else.

beach tribe
11-13-2008, 09:42 AM
If anyone is interested in learning more about investing, I highly recommend reading any or all of these books:

Common Stocks and Uncommon Profits by Philip Fisher
The Intelligent Investor by Benjamin Graham
One Up on Wall Street by Peter Lynch
Beating the Street by Peter Lynch
How to Pick Stocks by Fred Frailey

I'm going to buy these books. Does everyone pretty much agree that this is a good time to get in, or should I wait a little while longer. I'm not going to do anything extreme, but I want to get in, and get some experience, and a feel for the whole thing. How much would be nough to do something like that. I really don't know much at all about it all. could I learn anything with $500 dollars or no, and this would be after I've done a lot of studying.

Stewie
11-13-2008, 04:17 PM
If anyone is interested in learning more about investing, I highly recommend reading any or all of these books:

Common Stocks and Uncommon Profits by Philip Fisher
The Intelligent Investor by Benjamin Graham
One Up on Wall Street by Peter Lynch
Beating the Street by Peter Lynch
How to Pick Stocks by Fred Frailey

Selling books is much easier than trading stocks. It falls under the heading of "Mining the miner."

I certainly wouldn't apply any of the above books to today's market or trading. eazy is right, it's all about trading. That means understanding MACD, fibonacci, Williams %R, etc. If you don't know these terms stay the hell away from the market in the near future. It's all technical indicators that are driving the market. That's why the Dow shot up today for no apparent reason. There were lots of "buy" signals for traders. Those signals will change tomorrow or Monday.

beach tribe
11-13-2008, 04:18 PM
Selling books is much easier than trading stocks. It falls under the heading of "Mining the miner."

I certainly wouldn't apply any of the above books to today's market or trading. eazy is right, it's all about trading. That means understand MACD, fibonacci, Williams %R, etc.

Noted.

Stewie
11-13-2008, 04:21 PM
Noted.

I edited my post for what it's worth.