Lets talk stocks

[racinmike77]

Im thinking of playing with the market a little. What do you guys use to trade? Scottrade, E-trade, maybe a personal broker? What do you think is a good buy right now? The 401K is doing well but I cant touch that and the savings account at the bank just doesnt yeild the gains I would like.

 

[SmokeShow]

good mutual fund with a strong track record of good growth over say a 10-20 year period. IMO, you'll most likely be better off playing in the stock market as a long term thing rather than short term "get rich quick" deal. You either just get lucky on the short term stuff OR have to spend a great deal of time learning and studying what to do and when on day trading.

 

[racinmike77]

can you get out of mutual funds like stocks or are you locked in for a certain amount of time like a CD?

 

[Diesel Pilot]

I have a Scottrade account that I treat like a higher risk savings account.

I usually buy mostly blue chip stuff that I know won't get too crazy and if I do buy something risky it's usually just with smaller amounts.

If you want to maximize returns while staying somewhat safe, do a mutual like Mitch said. You can get in and out easily but watch the management fees, sometimes they can cut into any gains you realize.

 

[paint94979]

talked to a good friend of mine today... he has been trading Bank of America a fair amount lately... he bought a little over 2,000 shares at 12$ figured he'd short it and make a little profit. Well B of A shot up to 16$ and he lost over 10,000$ within a day pretty sick... lets just say he isn't doing too well right now

 

[Turbo Buick 6]

Never put any money in stock that you don't want to loose. In this day and age even savings bonds are high risk IMO. I invest my $ in gold....the whole country could go under and I'll still have something thats worth something.

 

[dmaxvaz]

Never put any money in stock that you don't want to loose. In this day and age even savings bonds are high risk IMO. I invest my $ in gold....the whole country could go under and I'll still have something thats worth something.

x2

 

[jrkrace]

Been there, done that....

I sold 90% of my stocks about 9 months ago and quickly put everything into a CD at my local bank. I cannot trust any market that rises and falls when some bigwig farts.

 

[Bako_Dmax]

I use scottrade. I bought ford A while back @ 2.71 its now trading @ $8.44 since Ive sold some of my shares now Im riding free money for the long haul.