I'm a big fan of Roths (as are most people) but just be careful you aren't over the income limit. I have a couple clients who got married last year and that put them over the limit as a married couple filing jointly and they had no idea. The wife had an autopay into her Roth form her checking account every month that was still going strong several months after they got married... That can be an awkward moment in a financial planning conversation when you have to point it out.
Good point forgot about that, just a heads up, this only applies to Roth IRAs though, if your 401k has a Roth component to it, you can still use that regardless of income... At lease for now.
Yeah, Roth 401ks are awesome if you have access to one. It's something I try to mention to businesses to put into place for happier workers.
Sold off 1/2 my position in $ATHX this morning. Being greedy here. I see the potential of this coming in around $6 before all is said and done, but I like money and profit is always nice.
$ACHN and $VTUS for the plays. It's nice making money when the market goes south. I'm just hoping this is really a correction and not DOW 4000. It could really go either way at this point in time. With some of the market movement the past few sessions it doesn't look like anyone really wants to be in any of the markets. Bonds suck, stocks suck, foreign markets suck, currencies suck. I remain optimistic for the short term, but I would not be surprised in the least if we have a weird catalyst come forward that drops the hammer and gets the ball rolling.
Got stopped out of all my $VTUS shares. Wasn't too happy to see their failed drug today. Oh well, lost a little, and ACHN still running nicely. $STXS and $NEON going into next week. $SGYP looking to hold for a month or three. Thinking of doing a blog about low level trading. I have this idea which I used to do in poker in taking a small amount of money and trying to run it into big dollars. I think it would be interesting to show people that you don't need 20-30k to be able to make some money off the market. If you were to follow a trading blog/website, what would you want out of it? Straight trade calls or more in depth conversation?
I think I'd want straight trade calls at the top in bullet point form and then an explanation down below as to the factors that go into the recommendation.
Simplicity. Just a "Here is my opinion and why, here is the company's spreadsheets." I like Motley Fool to a point. Though they have a lot of biased articles, and more and more is behind their stupid pay wall. I don't know any other site like it that's as or more reliable. Personally, I'm really looking for a $1-6 stock that has the potential to increase 500%. Few grand could make you a few tens of grands. I remember looking at Apple at $6 a share around 2005 and thinking they completely shit the bed ($535 today). Same goes for Flamel Technologies. They stuttered around $2 so I passed. Year later they topped out at $37. I want in on something like that. Biotechs seem to be the best bet. They're not common, but not that rare either.
Speaking of cheapo pharmaceutical stocks. Three, not altogether risky, but definite gamblers. Avanir has a 300% target this year. Orexigen Therapeutics has an obesity drug they've patented. This is my favorite: Mannkind Corp has an insulin inhaler (Type 1 and Type 2 diabetes) going for FDA approval in April. If it passes, this will blow the hell up. As it is its P/E ratio is not that bad. Sits at $5.64 today. I am probably going to put an order in for this in the next week. The other 2 are maybes.
My brother urged me to make a small investment in Apple at 7 dollars a share and I declined, regret it to this day, he bought a nice house in Seattle 4 years later with the proceeds. If any of you that trade have a good recommendation for a online trading website that isn't expensive and is user friendly for beginners I'd like a recommendation. I see the adds online and on tv but anyone have experience with Scottrade or something similar?
Two of those I'm staying far far far away from and the third I haven't looked into. If I remember correctly, MNKD has had 3 CRL's for their Afrezza drug. I don't see them getting this approved and they really have nothing else worthwhile in the pipeline if this fails. It doesn't help that the guy running the company is your typical shithead biotech CEO. All debt, no earnings, way overpaid executive staff, does raises through stock offerings to float their poor budget. Granted, the stock will shoot up quite a bit if it is approved, but I'd much rather put money in something that doesn't have the history of failure that MNKD does. Obesity drugs are still a 50/50 proposition. Do they "work"? Kind of. Will they make money? That's still to be seen. You would think it's a slam dunk with how big of an obesity problem there is in this country, but the drugs are expensive and really only provide minimal assistance with a shitload of side effects. I'm talking MAX 15% greater weightloss when paired with proper diet and exercise. So instead of losing 50lbs you are losing 57.5 lbs. Not exactly worth the estimated 3k a year for the dosing. In this case though OREX is tied to VVUS through some means and their shares trade almost in tandem. One does well, the other does well. The problem with this is that VVUS was the one that already made the run into the $30's and then came crashing back down to the $7's. OREX isn't going to be climbing out of the spot they are in for the foreseeable future. Just a quick overview of AVNR, it doesn't look terrible, better than the above two, but it looks more like a traders stock at this point then something to invest in long term for a big return. With them, I'd play some catalyst trades. Get in a month or so before news will hit about their current pipeline and ride the wave up and dump before the news. The one big thing I have an issue with in the biotech space is when someone tries to put a drug out for pain management. It is EXTREMELY difficult to do a good study when the outcome is based on individual opinion rather than a black and white works/doesn't work. The placebo effect in those studies is so great at times, it sinks almost every new pain management drug that tries to come to market.
I have used TD Ameritrade for years, $9.99 internet trades, mobile app, good service, no issues. Members get free trades for referrals, so I would of course be delighted to have them send you stuff to peruse. Let me know! Also, I like that CJ put a few that he is watching out there....PC didn't care for them, but I think that it a lot of fun to talk stocks out in a group setting. PC, anything in CJ's price range that you DO think are worthy?
There are a ton of stocks that I would hold long term, but there is a bit of a nuance about trading. I can't just throw out some stock symbols and say, here, buy this and don't sell it until it hits such and such price target. A lot of times things I like I hop in and out of over the course of 2-3 months. Some stocks have pending catalyst dates a year in the future and you could literally sit on the sidelines waiting for something to happen for a year and your money is doing nothing for you in that time. Most of the stuff I have thrown out in posts are things I'm actively trading in. The past 6 or 7 posts I've made are stocks I've gotten into and gotten out of in the past month or so. Also, you shouldn't just toss your whole wad into a stock and say, okay I'm done. Accumulate a position over time. Buy dips. Average up. Sell off your whole position and rebuy it in the future. Play the option chain. Lots of different ways to invest in something. I'll look through some of my lists and see if I can't pinpoint a few, hold for the future stocks that have major potential for going from the $1-10 range and appreciating by 300% in the 1-2 year time frame.
Still compiling a list, but I thought I'd throw out a trade call. $ARAY I've got a good chunk I just bought today. Looking for some good cash out of this one. Maybe $13-14pps.
What exactly makes you think it'll pop and what timeline are we talking? I see a negative EPS on the high end of its 52-week range. I don't know how much companies look to expand when they're not scaling their business and interest rates certain to start rising in Q2. I don't see it, but would like to know what I'm missing.
Don't just look at fundamentals in a biotech, look at the whole picture. Big movement on the option chain. Billion dollar investment firm who bought into MAKO before it got sold for $30 a share, filed buying shares of ARAY @$10.33. They shared the same space and it's always a good bet when a firm goes from one company to another. 5 or 6 more filings coming shortly with big firms buying up shares. Good '14 revenue guidance. All around positive picture of their finances. Nothing really standing out that is going to put a roadblock in their way of making money. Depending on which way the market swings, I'd bet about 3-4 months before it tops off in the 13's. Looks like there is a gap to fill around the $9.05 range, might even fall into the high $8.80's if people get crazy, so I'm going to buy on the way down and then ride the pop back over $10. I'm holding this past $12 and I'll probably exit a portion of the position and go for broke on the rest. As always, this is just my opinion of what I see, but I could be wrong. Don't trade anything without doing your own DD and go into knowing the risks that things can turn out badly.
Grabbed some $CYTR this afternoon. Looking for a quick snipe. Probably selling it all tomorrow, but I'm looking for $6.75.