MBtrading, SogoTrade, etc are safe - they're guaranteed with and registered with SIPC.
I think OSK may told you - in ONE out some possible scenarios - NOT NECESSARILY always. It all depends which stocks you have purchased and if you've any proper paperwork in place.

Here's how the foreign broker do it. Dividends given (if any), then 15% withhold by US govt. Yes, they tax you on dividends.
Then, it is given to you in your cash account unless you've signed a DRIP (Dividend Reinvestment Income Plan) with the stock that you've purchased.


Market watch tonight:
Europe going down, Dollar going up, Equities going down a bit permarket

BP - close to getting a new CAP on oil and relief oil done. Up 3.2% premarket.

STEC - something boosting it.. perhaps upgrade. This is great if true!

Overnight, Oil crossed over $76, new range could be $76 - $80. Nice! I'm in ERX and UCO riding this up a bit.

Let's watch AA earnings after trading later. I think it will be bad for them. Too much supply of
aluminium and prices have fallen in second Qtr. Traders may short AA after earnings report even if it is good.

This post has been edited by danmooncake: Jul 12 2010, 09:11 PM

C prices are rising. Must be the Treasury dumping the shares earlier that forced it below $4.

Oh my lovely STEC. Come to papa. DMC, it just crossed 15.50, hitting high 15.72.

Let see if it can touch $16 by tomorrow. A close above that 200MA a good sign.

dumped 1/3. 1/3 let it run TS, and 1/3 keep for future

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Added on July 12, 2010, 10:43 pmSTEC upgraded to BUY




This post has been edited by zamans98: Jul 12 2010, 10:43 PM

There is gap between 14.75 and 15.31 for STEC. Hm...I think it will come to that level to fill it later.

This post has been edited by danmooncake: Jul 12 2010, 10:54 PM

As expected, after an upgrade, it raised momentarily. Now back to early $15. Still looking forward for $16 before another reversal back to $13-14 level.

Sell into the rally! Let see if it can bounce off 14.75 to fill this gap or not.
Looks like gap is filled. Not sure if STEC bulls can take it back to $15 or not. Pretty strong selling here.


Gosh.. PlayBoy stocks surged 40% because of rumor that Hefner wants to take this to private. He wanted buy out shareholders. I'm not surprise - in days of plenty of porn from Internet, Playboy Enterprise revenue is dropping like crazy.

Closing update:
Dow 10216.27 +18.24 +0.18%
Nasdaq 2198.36 1.91 +0.09%
S&P500 1078.75 +0.79 +0.07%

The indices just inched up slightly only but a lot of other stocks taken down today. STEC can't even closed above last Friday closing price, lost 2.98% despite upgrade, it closed at $14.31.

C however managed to close at 4.12, awesome! Hopefullly, it will be pumped up to close to $5 so we can take
major profits here.

Update: 4:30am
Interesting! AA actually beats street estimates. Given all than worst than expected earnings for AA, we could get a small pop at open the next session. Bulls need to push this market to SPX 1100 - get ready for the big short.

Update: 6:30am
CSX (rail transport) also got better earnings! This is going to set the stage for more uptrend move. Nice.

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Added on July 13, 2010, 8:42 pm
Update: July 13, 8:42pm
The energy sector will get a market boost from CVX tonight. Another good earnings.
Market is at the higher ceiling for Dow 10251 and SPX 1085 futures. Close to profit taking stage.

C now trading at $4.20 pre-market.

This post has been edited by danmooncake: Jul 13 2010, 08:45 PM

danmooncake, C is already hitting $4.20 in the pre market.

But one thing worries me, come Friday, will it stall and drop back to below $4?

as you know, i m in for bear..

so, i hope it won't be too green..

depends on market sentiment..

wow, the best week in 2010, and green are very promising here.

C 4.20
STEC 14.70
AA 11.32. argh. Missed it, should pick more at 9.80's 10 sessions ago
CENX rally from $9 to $10 on AA's news
GLD went up crazy to 119
LVS also hit up to 23.52
S crazy, was hoping it dropped to $4 but 2 straight session with +8% for this 2 days

Note: I'm selling STEC into strength. I believe that the BUY call effects will fade away by Friday. Any other opinion?

when intel wants to say something?

When is the result due?

We can anticipate TECHNOLOGY sector to move by 4-8% within 1-2 days from the result announcement, if its positive. U can buy KLSE stocks selling CPU, cannot remember the name.

what does it mean by AA 1 cent surprise? it is just little. why market behaves so big?

then when Moody downgraded portugal, nothing happens..
Europe stock climbed..

why?

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Added on July 13, 2010, 11:36 pmINTC should due today..


This post has been edited by epalbee3: Jul 13 2010, 11:36 PM

Hi Guys,

I love it when the market moves (doesn't matter bulls or bears but as long it moves!) and today it did.

The bulls broke out from SPX 1080 and gap up to 1090 and now got more room to go to challenge the resistance ceiling target @ 1095 (50MA) ~ 1111 (200MA). Dow has to crawl over 10370 (200MA) to claim victory.

Portugal - downgrade, perhaps nothing else is new here, therefore looking at Greece as proxy, they'll get their act together to get the debt auction off in future. The market figures US corporate earnings for now won't be affected by this single nation. It may later but not now, Europe fears are put aside.

AA - When all the doom and gloom on aluminum demand are overdone. AA moves to upside with their wonderful earnings and better outlook, coupled with CSX - rail transportation activities are strong in US.

Back to our favourite C (Citigroup), anyway, here's my plan for C
(since I hold a substantial amount of this avg $3.7).

C broke out from the $4 barrier because the supply has been overcome (Govt done selling and FINRA finalized). Now, the demand is more and we'll gradually see C moves back to $5. I will be unloading my C shares as it gradually moves up.

If you want to be long, I think it is safe to scale some in at this level ($4 ~ $4.3).
There is tremendous amount of volume for C now. $4 now is seems to be the support.

But, I'll be looking to start my short position if SPX moves closer to 1100 and 1111 and I'll stop loss if it breaks above.

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Added on July 14, 2010, 4:57 amClosing update
Dow 10363.02 +146.75 +1.44%
Nasdaq 2242.03 +43.67 +1.99%
S&P500 1095.34 +16.59 +1.54%

There you go. Bulls got green shoots.

After hours, INTC posted strong earnings with huge profits. This should help move tech sector up next day.

C closed at $4.30 (+4.62%).

This post has been edited by danmooncake: Jul 14 2010, 06:24 AM

http://finance.yahoo.com/news/Intel-posts-...1&asset=&ccode=

C 's on the move upwards .. need to monitor this carefully, missed the $5 boat last round

i m holding an average price of 3.94, however the exchange rate is not favourable, 3.35 compared to 3.22 at the moment, how do you guys get around the exchange rate issue?

Will Govt start selling next week after the earnings report and bring C's price down?

also don't know it will climb or not. but just keep observe it, anything wrong just turn back. that is how we did.

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Added on July 14, 2010, 9:19 ambut I think eventually market will get bored with all those earnings and start dropping.. remember market only has short term memory?

we was just talking about double dip last week, then this week all good news..

if the market trend goes against you, either you should run straight away or keep in refrigenerator until it is ready..

This post has been edited by epalbee3: Jul 14 2010, 09:19 AM

Just put your sell order with GTC for $5. Come back in 3 months and check again.

Anyway, why are you concern about exchange rate?

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Added on July 14, 2010, 9:46 amThat DD hasn't vanished yet. Just went into hibernation until the earnings euphoria ends.
The daily, weekly and 3 months trend are still down but the 6 months are moving sideways.

If this earnings season plus the next quarter can't pull SPX go back above 1150 or DOW above 10800, then we're still in a bear market rally.

We'll be crossing this 10000 level multiple times until it doesn't work anymore.
Just place your traps to get money both ways.

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Added on July 14, 2010, 8:33 pmTonight is crucial 1st test for the bulls. Can it retain 1095 and cross over to do the 2nd test at 1111?
I've unload and took some profits off the table here (TNA, ERX, UCO) and leaving some on the table.
Not in shorts yet but will get ready to jump in.

Premarket: Retail sales came in -0.5% versus -0.2%.

This post has been edited by danmooncake: Jul 14 2010, 09:04 PM

huh? who is GTC?

i m trading via OSK Msia, thus incurring an exchange rate difference due to the weaker USD/stronger ringgit.
Is there a better way to trade US stocks? do share.

newbie newbie here but learning