Max, my uncle seems to feel the same way you do about
the markets. He went to cash about a month or two ago.
except for his gold stocks.
There is always a opportunity to make money in the markets.
It's just easier sometimes then others.
I traded OPEN from 1 5/8 to 2 1/8. I remember talking about
how risky it was to keep stocks overnight anymore.
I was 45% in cash until I bought the IPO GEEK when it opened.
One week kept it from a double IMO.
<<< SAN FRANCISCO (CBS.MW) -- Shares of Charles Schwab rose Friday, a day after the brokerage posted an online notice that it's restricting trades on hot new IPOs via its Internet brokerage unit.
Schwab plans to restrict trading in certain stocks on the first day those stocks begin to trade on the exchange, or hit the secondary market, after going public.
The restrictions affect online investors only. Schwab customers are being asked to phone in to place their orders in the affected stocks.
Schwab said it's restricting trading to aid customers and the brokerage. It alerted customers in a note posted on the site late Thursday.
Slow to the draw
Online traders "may not be able to keep up with various prices," said spokesman Dan Hubbard. The rush to trade the hot IPOs was causing a crush of multiple orders and cancellations as prices bounced all over the charts.
Schwab on Thursday blocked Internet trading in Infinity Broadcasting (INF) and AboveNet Communications (ABOV). Online trading in the two stocks resumed Friday, officials said.
All told, Schwab has restricted trading in 12 stocks at one point or another in the last two weeks.
"We view this as a responsible action on behalf of the company and the customers and will consider it going forward," Hubbard said. "We had some people that would prefer to trade through the Web, but, by and large, the feedback has been positive."
Online volume
Schwab's daily online volume represents more than 50 percent of the brokerage's total trades.
Stocks in which Schwab has restricted trading at one point since Nov. 30 include Yahoo! (YHOO), Cyberian Outpost (COOL), Books-A-Million (BAMM), Open Market (OMKT), Onsale (ONSL), Didax (AMEN), Navarre (NAVR), Ticketmaster Online CitySearch (TMCS), uBid (UBID) and Internet America (GEEK).
Schwab also said it would restrict the first day of secondary trading in Infospace.com and Pacific Internet.>>>>
I noticed that I am in or have been in 5 of the 10 stocks they
have trading restrictions on. What's that mean? :-)
Figure it all out and make some money.
I always hear "you can't time the market" well you can about
as well as you can pick "hot" stocks. Tough job but someone
has to do it. I'll leave it up to you. :^)
KZAP |
