Market Watch Week 3, A recap

[Flipperk]

Hey guys, so tuesday is not really going to work for me, so I decided to do these at the closing bell on fridays. Give a quick recap of the week, talk about any noticable changes, news, and ect. Then possibaly seeing whats to expect next week. I can't give all the information, i will of course miss alot of news, so please if anybody has any information that I do not mention please don't hesitate to share.

***NYSE***

Well this week has been a very good week on wall street, the DOW is now inching ever so much closer to the 10,000 mark closing friday at 9820.20 and  starting out on mondays open at 9544.12. An overall gain of 276.08 points. Same story with NASDAQ opening on monday at 2069.99 and ending friday at 2132.86 a 62.87 point gain. Momentum on fridays session indicates a good startup for next week, unless news about the economy worsens over the weekend.



Honestly guys I have not really watched this week at all, been very busy with school. This weeks recap is going to be short with an overall look at the NYSE.

Sorry guys.

***Thoughts and Comments***

Im still sticking with ETFC for now, its at 1.85 with an aftermarket gain. News from Citigroup about boosting Etrade has some good news with the stock and the company. Still stand by as a strong buy with ETFC.

[Strip]

I got a C note says ETFC breaks 2.00 by close Wednesday....

 

Jackson Hewitt Tax Service (JTX) looks to have a strong upcoming week after tanking in late August-early September.

I think that is enough rope to hang myself with....

[Flipperk]

***BREAKING NEWS***

ETFC is now making its move...up close to 7% nearing the 2.00 mark.

If you want to watch this stock heres the link:

http://finance.yahoo.com/q?s=etfc

Heres some news to go along with whats going on:

http://finance.yahoo.com/q/ao?s=ETFC

http://us.rd.yahoo.com/finance/external/pssa/SIG=124tmetss/*http%3A//seekingalpha.com/article/162478-why-e-trade-is-a-must-buy?source=yahoo


Strip you may be right on this one   good call


Its offical ETFC broke 2.00 at 2:01PM CST

[Strip]

What do you make of First Busey Corporation (BUSE)?

They are trading at 5.33 after reaching a 52-Week Low of 5.14 during midday trading. It dropped 15-16% after announcing a public offering of 18 million shares. Its well below its moving average of around 6.30 and I think might have a rebound in the next few days. Its 1yr high is near $20, was in the high teens and has steadily declined since the beginning of the year.

I am unsure of the dynamics for this tho....

Strip

[Flipperk]

Im unsure of it as well, but I would watch for a small climb over the next few days.

The buy vs sell was pretty even after midday, and after a 16% loss I would expect a small buy to bring up a few precentage points.

[Strip]

I have seen some popular sources calling for Level 3 (LVLT) to make some descent gains, supposedly eclipsing $2.00 (currently ~ $1.40) a share in the weeks and months ahead.

Talks of mergers with Sprint have some people labeling this a good long buy....

Strip

[Flipperk]

Hmm...nice find


When I get done with ETFC I plan to buy into Powershares (QQQQ)

so far a 24% yield YTD

[Strip]

Long term I think that is a good buy....however.

I think QQQQ is inline for a small downturn, to me the current price increase is unsustainable. Looking at trends and market indicators I think it could occur as early as this week or the next.

Just my opinion tho, take it for what its worth.....nothing.

 

[Strip]

Just bought 500 shares of BUSE for $5.30 a share....

 

Just looks like its ready made for a good recovery, will definitely keep an eye on the after-hour trading though.

[Flipperk]

Just bought 500 shares of BUSE for $5.30 a share....

 

Just looks like its ready made for a good recovery, will definitely keep an eye on the after-hour trading though.

Good Luck  I think it will be a scarey week

Hope you put a trailing stop on it

[Strip]

Good Luck  I think it will be a scarey week

Hope you put a trailing stop on it

Yea, that was pretty much a requirement for this kind of buy.

 

[Strip]

Set it up to sell at 5.50 in the premarket and boy did I luck out, that is the high for today so far. Saw C start having a lot of activity so I jumped on that band wagon at 4.56 for 600 shares. Looks good so far but I am stuck with C for 3-4 days though, I hate the SEC and the day trade restrictions. If I were to sell it today I would get hammered for a "free ride" and being a pattern day trader.

Dont understand why a cash only account cant day trade.....

[Rondar]

So how do you day trade?  Legally that is.  I see my account sometimes warning me if I sell before something else I sold wasnt settled yet I would get turned in for the free ride also.

[Strip]

In order to day trade you must maintain $25,000 in your account according to the SEC. In margins or option trades the settlement date is one day after the trade I think. While normal cash stock purchases are settled three days after the trade. At least that's how I remember reading it a month ago, have not researched that very much. Legally your allowed up to three (four and they lock your account) day trades within five running business days. I will day trade only if the situation clearly warrants it and will often not trade if I don't have a day trade available.

What I should have said was,"Dont understand why a cash only account cant day trade with less than $25,000."

[Flipperk]

Me and you Strip on the same boat lol


bought 450 shares of C at 4.66


I saw Etrade at premarket at 2.08 and though wow what a good gain, then i saw that line do into a downward pattern and i said...sell

sold 1100 etrade shares at 2.01...took that money and bought C stuck with it till friday