trainwreck

Backround: I am in my early twenties, have no debt, and am making pretty good money.

Question 1.

I just opened up a brokerage account and have $11,700 exactly. So my question is directed at the more experienced investors: What stocks would you buy within the next few days and at what price point. I am planning on purchasing them tomorrow!!! 7/18/07

I am just looking for 1 or 2 solid picks or possibly a bunch of small ones because i get 100 trades free per year. The market is at an high right now, should I wait a couple days for a pull back?

Question 2.

I have another 10 grand in my Roth IRA, and it is being managed by my familys financial advisor (she doesnt do shit for my account cuz its dinky). So far, I own just 2 etfs. I feel like I should have stock instead. Should I save money on the management fees and convert the account into a self directed account and just buy more stock ? If I were to do this, I would need a couple more picks. please keep in mind I am ultra aggressive. I am also thinking about converting my 401k into a self directed account and buying stock instead of mutual funds, is this such a good idea?

also, what websites do you guys read daily for your info? free or suscription, as long as its useful!

SD_S2K

www.Vanguard.com

VFINX
VTMSX

or a Target Retirement Fund such as VTIVX

I am sure a bunch of guys here will direct you to stocks and stuff, but unless you want to be a day trader and dedicate hours a week to timing the market, park your cash in the above funds and tell me how it works out in 30 years. You will be quite happy.

For the Roth, get rid of a money draining advisor and buy ETFs through an online brokerage account. ETFs are a solid way to go unless you also want to roll that over into Vanguard and pick a fund ....

my $0.02

diehards website

tritium_pie

Pure value: RAIL and CG.
(Full-disclosure: I'm heavily invested in both.)

Regarding self-directed accounts, start reading first on how to value companies, how to evaluate an income statement, balance sheet, etc.

But then, YES absolutely, I wouldn't trust anyone but myself to manage my hard-earned money. Besides, it is MUCH easier to deal with me having my timing off by a few months (since I'm a long-term value investor, it doesn't matter in the long run)... than it is to stomach someone else screwing up with MY MONEY.

$.02

cthree

Buy INTC and COP, $5500 of each at 10:30 AM tomorrow. Specific enough for you?

I'll be buying 150 shares of INTC at the open on the dip post earnings to add to the 100 I already have. I bought 50 COP this afternoon and if it's down tomorrow I'll buy 50 more (for disclosure).

I'll be selling some, maybe half depending on price, of the 20 YHOO July $30 PUTS I bought at 3:55 today for $2.80. I'm looking for YHOO to hit $25.50 tomorrow, $24.40 gets me a double on the trade

ExOdy

^I've been buying on the pull back with COP and will continue to do so if it continues to drop. Highly recommended.

ExOdy

What kind of stocks are you looking for? quick buck? long term gain? low risk?

cthree

I bought 100 INTC and 50 COP this morning as planned, I got a 24 handle on the INTC which I'm pleased with. I sold 5 of my YHOO PUTS at $3.80 and I have an order in to sell another 5 at $4.00. Selling half here will cover the cost of most of my position and I'll wait and see what I can get for the rest over the next two days. I think that no matter where YHOO closes or dips to today it will continue to get punished for it's suckyness for a few days longer.

My timing on COP was a little off, you wanted to buy it at the open, but predicting the future is an imprecise science.

Other decent deals today: GOOG, JCI.

The market has stalled here, it's not a bad time to take profits in your winners and hold off on buying much until the dust settles. Expect a rocky road through the end of next week.

trainwreck

i am looking for long term or short term, but high risk.

I was about to buy COP this morning, but i noticed it has already made its little run!

btw i get into the office and check my stuff at 9 pst.

should i still jump into COP for 87.35???

my trigger finger is getting itchy.

cthree

It's not 87.35, it's 86.64 and hopefully 0.5% is not the entirety of the run you were expecting You should put in a limit order for the price you want to pay and then let it sit for the day. If it dips, it's yours. INTC has a 24 handle again. My limit order to sell 5 more of my YHOO PUTS was filled at $4.00 :happydance:

I've got 10 left worth $4000 today's price that I paid $1750 for yesterday

trainwreck

when i checked back on COP 30 minutes later it was at 86.89 so I put in a limit order at 86.50. It didn't get filled, so i still have 11700.

BTW I did get ready to buy at 10:30 like you advised, but i got afraid at the last second to buy at the market rate cuz i am a scared n00b. I have never put 5gs on the line before. i guess i ll try again tomorrow. This time i need 2 pieces of info : the symbol and what price i should set the limit at. I'll do it as soon as i get into the office tommorrow morning.

sorry i am n00b at all this.