Market Watch for 9/28/2009 (Week of)

[billhart22]

Now wait just one minute Bill. It seems to me that between you, me and LT, there is a heck of a lot of pixie dust floating around here!

Oh ya...55 gallon drums full, lol!

[billhart22]

I'm with ya LT...I will ride those mglg shares into the trash and take it as a loss to offset some other gains. Those guys over there are really pissed @ Magellan but stocks are a risky proposition and sometimes you get bit!!

Bill, I will sell BCLE as soon as it hits .025 or so, trying to break even. So much potential but I should've realized that gov't contract take time and alot of it and I think my money can do better elsewhere.

I'm still boggled by BEHL???

If I had BCLE at .025 I would do the same thing. I would ride MGLG into the ground also if I still had it. I would put my spurs on to ride it. They should be pissed over there. We will see what happens on the 7th of October. You know, it just might take off for at least one last gallop. If possible, it would be the time to cash out without getting greedy. Just get your money and run. I will certainly be watching it for educational purposes.

BEHL.......??? I don't get it.

[bigsandy]

Those guys are so full of shit. They are about as organized as a soup sandwich. How could they ever coordinate something like a class action law suit?

Ten to one, they will just wander off whining and buy another bummer just like they did this one!

I didn't even look at BEHL today...I will now though..Well, I looked...I won't comment.....

I am starting to dig "One Day Trips" with these stocks. Ride them up for one day and dump them. I am going to see if I can find anything of value for tomorrow, so if anybody is the least interested, then check in tonight. If I find something, I will post it, or if I don't, I will say so. Don't forget your decoder rings.

One thing that is really prevalent about these stocks is that they shoot up big time first thing in the morning. That is the time to sell high. The time to get in is prior to the bell...put your order in to take advantage of the morning spike and to get your place in line.

Hey Bill, I found my decoder ring in the trash can under my diary where i wrote 1000 times: I hate miggle, bcle and behl, I hate miggle, bcle and behl, I hate miggle, bcle and behl....lol.

I'm in man. I have some powder that I would love to double over the next couple of weeks (before oct 15th taxes are due, lol). Also, I will do some DD tonite on EXPH and report back.

[atmgeek1]

Bill, did you set up a margin account?? If so are there any restrictions with these pennies?

[billhart22]

Hey Bill, I found my decoder ring in the trash can under my diary where i wrote 1000 times: I hate miggle, bcle and behl, I hate miggle, bcle and behl, I hate miggle, bcle and behl....lol.

I'm in man. I have some powder that I would love to double over the next couple of weeks (before oct 15th taxes are due, lol). Also, I will do some DD tonite on EXPH and report back.

That's too funny!

Please do the DD on EXPH..we would really like to see it. I will see what I can scrape up for tomorrow and Friday.

[billhart22]

Bill, did you set up a margin account?? If so are there any restrictions with these pennies?

I don't have a margin account. I am not sure about the restrictions on stocks with one. I believe that you do have to let stocks still clear. I don't have the full information on the subject. If I remember, I will look tonight and see if there is any information that I can find. Anybody else here, please pipe in if you know any answers to this...

[atmgeek1]

I don't have a margin account. I am not sure about the restrictions on stocks with one. I believe that you do have to let stocks still clear. I don't have the full information on the subject. If I remember, I will look tonight and see if there is any information that I can find. Anybody else here, please pipe in if you know any answers to this...

I just printed and scanned over the margin agreement and the only thing I see is that all margin accts meet a 2K min equity requirement (25K if you are deemed to be a pattern day trader). I did not see anything with respect to funds clearing after a sale or how many times you can flip a stock daily/weekly. A while back I had a conversation with a broker and he said that you are considered a day trader if you flip a stock more than 3 times a week?? I will try and call them tomorrow

[atmgeek1]

I just printed and scanned over the margin agreement and the only thing I see is that all margin accts meet a 2K min equity requirement (25K if you are deemed to be a pattern day trader). I did not see anything with respect to funds clearing after a sale or how many times you can flip a stock daily/weekly. A while back I had a conversation with a broker and he said that you are considered a day trader if you flip a stock more than 3 times a week?? I will try and call them tomorrow

Missed one part...all margin accts meet a 2K min equity requirement (25K if you are deemed to be a pattern day trader) and have available cash equal to 50% of the amount pruchased.

[billhart22]

I just printed and scanned over the margin agreement and the only thing I see is that all margin accts meet a 2K min equity requirement (25K if you are deemed to be a pattern day trader). I did not see anything with respect to funds clearing after a sale or how many times you can flip a stock daily/weekly. A while back I had a conversation with a broker and he said that you are considered a day trader if you flip a stock more than 3 times a week?? I will try and call them tomorrow

That is exactly right! 3 times maximum in a week or you are a day trader and that takes 25K to play from then on. With that rule applying, then you would be held by clearing restrictions. So, there you go. What do you think about this?

[candleman]

Bill, did you set up a margin account?? If so are there any restrictions with these pennies?

ATM,

I use Scottrade and this is how it works with them.

It's easy to set up a margin account as long as you have a good credit score.
And there are no clearing or waiting restrictions as long as you have 25,000 dollars of stock or cash in the account.
I am able to trade in and out of stocks as many times a day as I can possibly do without any problems at all. I don't have to have cleared cash in the account to do this.

Example....buy 100 shares at 1 dollar. You have to have 107 dollars in the account to do this. And then you can sell that stock in one minute and use that 107 dollars plus whatever profit you have and buy more stock immediately. And you can do that over and over and over again.

That's how it is at Scottrade. Now, the one problem with Scottrade is that they have certain stocks they won't let you buy. It's only about a hundred or so, but several of the ones that people trade here are on that list.

I hope this helps,
Chuck