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Aussie Stock Forums - Shorting a stock that goes belly up?

admin — Thu, 20 Nov 2008 10:10:15 +0000

what happen to the stock you borrow and short on some company
and that company now goes belly up..how do you repay the share ?
does your lender written it off and you dont have to pay back and thanks
for the money

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Investing With Harvey - Market Close for Wednesday, November 19, 2008

admin — Thu, 20 Nov 2008 10:09:36 +0000

Holy Sh*t! Look at them numbers!
FEDS: Come on, give dem auto-makers some of the moola and save us all from the boogey men.
We …. are now down at least 40% (even without running the numbers).

^DJI

7997.28

-427.47 (-5.07%)

^IXIC

1386.42

-96.85 (-6.53%)

^GSPC

806.58

-52.54 (-6.12%)

^NDX

1087.60

-68.15 (-5.90%)

^OEX

392.23

-24.40 (-5.86%)

^SML

222.33

-18.18 (-7.56%)

^QNET

63.04

-5.87 (-8.52%)

^VXO

79.63

+7.29 (+10.08%)

^VIX

74.26

+6.62 (+9.79%)

^VXN

74.66

+6.35 (+9.30%)

PVADX
[...]

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The Kirk Report - Bottom Fishing

admin — Thu, 20 Nov 2008 10:09:00 +0000

Fedspeak! Paulson locks horns with lawmakers over rescue fund The risk of Bernanke's cash injections It isn’t a TARP without troubled assets to cover CPI + PPI = Deflation Year's defaults soar past a quarter-trillion S&P 500's Q3 earnings fall…
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Trader Mike - November 19, 2008 Stock Market Recap

admin — Thu, 20 Nov 2008 10:08:32 +0000

This is certainly the season for the bears. They were able to break the 2008 lows on the S&P 500, Nasdaq and Russell 2000. The Dow has somehow managed to hold above its October intraday low and I’m sure everybody will be watching that level in the coming days. That Dow low holding seems to be the last hope for the bulls in the short term — and that would be nothing but hope.

The volume hasn’t been that bad but it seems that the market is just falling under its own weight. Not only is the economic & earnings news flow bad but we’ve also got these sickening congressional hearings on TV all day long. There’s really little reason for buyers to be motivated right now — they’re not even getting what’s typically considered capitulation selling.

Trend Table

No changes

Trend
Nasdaq
S&P 500
Russell 2000

Long-Term
Down
Down
Down

Intermediate
Down
Down
Down

Short-term
Down
Down
Down

(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend

*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.

Post from: Trader Mike

November 19, 2008 Stock Market Recap

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Aussie Stock Forums - CFD providers which offer Trailing Stops

admin — Tue, 18 Nov 2008 10:09:15 +0000

Just wondering if someone would be able to tell me which providers offer trailing stops, I’m currently with cmc and they do not.

Currently using cfd’s to protect against a margin call on my margin loan but spend way to much time updating orders as the market moves.

Please point me in the direction of a review site that takes this type of this into consideration if you know of any.

What I like about cmc is that for the aussie 200 index they only ask for a margin of 0.5%
IG markets have a margin requirement of nearly 30% and this is not viable for me, I believe its in the order of $1250-$2500 per contract please correct me if I’m wrong.

Cheers Guys,

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Investing With Harvey - Another Day In The Life

admin — Tue, 18 Nov 2008 10:08:48 +0000

Yahoo CEO Jerry Yang to step down…
Hillary Clinton to accept Barrack Obama’s offer of Secretary of State…
Citibank cuts another 52,000 jobs…
Markets finding new lows…
Oil down around $55 a barrel…
(I paid $1.899/gallon at Costco the other day)
Mark Cuban charge with insider trading…
Asian stocks fall again (11/18/08)…
…. Thankfully we have Ultrashort ETFs!

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The Kirk Report - Market Imbroglio

admin — Tue, 18 Nov 2008 10:08:17 +0000

Obama says he will do whatever it takes on economy Obama & Pelosi may throw as much as half a trillion dollars worth of stimulus at the economy Key questions from the G-20 Summit The 6 unknowns that are roiling…
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Trader Mike - November 17, 2008 Stock Market Recap

admin — Tue, 18 Nov 2008 10:07:54 +0000

The indices have now given back all of the gains from Thursday’s rally, and then some, in the case of the Nasdaq. So we’re back on the brink of a breakdown beneath the October lows. Like last week’s selloff to these levels, the volume has dried up. Last week I thought that was probably a bullish sign and I still think that today. But with each trip to these levels I become less convinced that support will hold, despite the light volume. The fact that the indices are no longer ar eno longer showing oversold stochastic readings also lessens my expectations for support to hold. But who knows, perhaps peace & prosperity will break out in the coming days.

Trend Table

No changes

Trend
Nasdaq
S&P 500
Russell 2000

Long-Term
Down
Down
Down

Intermediate
Down
Down
Down

Short-term
Down
Down
Down

(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend

*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.

Post from: Trader Mike

November 17, 2008 Stock Market Recap

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Decisionbar Helps Me In My Everyday Trading Decisions

admin — Mon, 17 Nov 2008 11:32:04 +0000

Every market investor at one time or another tries to find what brand of stock software is the right one for you. It is a very important decision for a few reasons. You can pick from a whole host of options, from Telechart to decision bar. A lot of them are good, but even more aren’t worth even thinking about as they will hurt you more than they’ll help you. They all charge a fee, but only some cost you money. Picking the right software program for you can make the difference between making money or losing your shirt.

The reason I’m “here” really though is to talk about one brand in particular, decisonbar. Decision Bar Trader is my favorite method of trading, and I have used it personally. Decision Bar was created by a real trader Les Schwartz who many of the the so called guru’s call on for help. Les created a system that is so easy to use, and for its ease it is amazingly simple for even beginner investors and the computer illiterate. It doesn’t matter if you’re new to investing, it’s so simple after a day or two you’ll be using it like Les himself.

You can learn the system in minutes, and the methodology is a snap. The day you get the package in the mail you can crack it open, toss the disk into the computer, and be trading in minutes. Best of all you can get a 30 day risk free trial. The only thing you can’t get back is the postage. DecisionBar is applicable for everything from options to commodities. Just like I said earlier, Decisionbar can be used for any unit of time, or even for options investors.

Decision Bar does require you to have live data feed if you are day trading. I highly recommend that you use a live data feed even if you are not a day trader. There are a lot of live up to the minute options that are included in the free trial program. Decision Bar does require some thinking on your part. This isn’t a close solution. Your decision to take a trade or not trade is made easy once you understand the system.

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Aussie Stock Forums - Correct account structure for internet trading

admin — Mon, 17 Nov 2008 10:11:37 +0000

First of all. Thankyou to all who answered my other thread. I have another question.
I have joined the westpac online trading site and currently have my general savings account attached to it. This account is for day to day spending and all my income goes into it.

Now i was planning to transfer funds from my LOC into this account for any purchases but i think this may confuse things tax wise.

Just say this account already has $10,000 in it for day to day expenses and i transfer another $10,000 into it from my LOC to purchase shares costing a total of $10,000. Is this legal tax wise or is the fact that the account is also used for non investment purposes. I will no longer be able to claim all the LOC funds spent on shares at tax time due to the mixing of accounts.

I am actually in the process of opening another count only to be used for investing. This will have money put into it for trading from either the LOC or any cash i have spare. All proceeds will go into it also from share sales or dividends. Is this the best way to go.

Also one more thing.Say you put $10,000 into this account from the LOC and spend it all on shares. I assume at this stage all interest cost on the LOC would be deductible. Now what if i sold the shares and the profits went back into the account. Are the interest payments still deductible even though the shares are sold and the proceeds are sitting in the account not the LOC. If that is still ok because any proceeds will be reinvested then that is good. But what if you used the proceeds from the sale of the shares on non investment related items. Will this render the tax deductible interest payments void???

Hope that makes sense guys

Cheers.

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