Got home from work this morning and went to sleep on some brand new pillows i picked up on the way home. Fast forward to 4:30PM i wake up to get ready for my last day of work this week and i fire up the laptop and sit down with my coffee. I am greeted by a horrid day on the market with a 3.15% drop in my portfolio and Alcoa AA taking the biggest hit at 4.28%, totaling about a $52 loss on the day, though still up 10% on my investments. Even worse is Vodafone VOD and Alcoa AA both had upgrades on the day by analysts. But this pull back is across the whole market spectrum and not sector related or on any negative news on any of my companies. The drop seems to be due to fears of rising oil costs due to unrest in Libya, yet only 5% of Libya's production comes to the US totaling about 50K barrels a day source. Further Support for this fear is the energy sector had gains in the Oil Production area. On a day like this the smart move would be to buy in now, as long as the company you are interested in has not had any negative news today. If i had spare cash in the account i would use it to either double up on AA, or to take a new position in Caterpillar CAT.
How much do you need to actually start a trading account? You doing this online? Site?
ReplyDeleteinitially i started with a deposit of $500 though the firm there wasnt a minimum deposit. Personally i think of an individual position in a stock at ~$500 this is because it minimizes the load on each individual share to earn to cover the fees used to purchase and to eventually sell it.
ReplyDelete2 weeks ago i deposited another $1000 into it to take a few more positions that i have been monitoring. The company i use is Tradeking.com though if someone knows of a better bokerage i am all ears.
I have alot of friends working in banks and they always talk about stocks. I'm gonna start with this too sooner or later, so I'll gladly follow your blog :)
ReplyDeleteThanks for the in-site. I've always been meaning to get involved in trading.
ReplyDeleteTrying to gather some money for investments. Around 3000$ should be enough?
ReplyDeleteMost definitely enough its actualy double what I have invested now. I intended my last blog entry to be some of the tried and true investment strategies but ended up talking about the large pullback. I promise the next one will be that lol for u and blogmaster flex.
ReplyDeletei just noticed your blog name, good name choice
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