Kirk,
Okay, thank you much. What about a little education on Index/mutuals for me now. Bought
after the close or when, please explain a bit.
Mutual funds are bought n sold at the closing price. You place an order for say $2000 of Fund X and it might close at $20/share so you get 100 shares. Funds keep a cash balance, even index funds, to handle trading. The big Index funds with low expenses discourage day trading so they can keep a very low cash reserve and thus more accurately track the index.
Trading costs money for commissions and people to execute and record the trades, so the really low index funds really don't want you trading. That is why we got SPY, MDY, et. al. to satisfy the market for day trading on index(s). With the super discount brokers, you can get pretty low expenses day trading. SPY, MDY, etc trade real time and are great for traders trying to get the last point in a swing. In the whole scheme of life, the last point doesn't really matter for critical mass so buying at the closing price is fine for most long term investors.
Caution. Trading, especially on margin, without having a clue is a sure way to wave bye-bye to your money. Hillary is the only successful example I can think of.
regards
Kirk out
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