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Added on October 9, 2009, 7:13 am

zamans,

My ave is 70.  I've sold off 50% this morning at 86.5.  Now, holding 200 shares.

Bought 200@ ERX at 40 yesterday. I think I'm going sell it tonight. Too bubbly already... but I wait for more signals like the USD index.

Sold 200 ERX @ 44 premarket.
Sold 200 FAS @ 84.10 premarket

Waiting to see market direction.  Looks like profit taking about to start. 

Sold 115 C @ 4.62 (Buying price is 4.49)

115 * (4.62 - 4.49) - 6.95*2 = + 1.05 USD.

Earned USD1.05. Minor profit after one week waiting..

Can buy nasi lemak already..

Better run, the buying power is not there anymore..

How you guys see the profit taking taking over, market is weakening?
From which respect do you judge the market's condition besides its futures status?

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Added on October 9, 2009, 10:32 pmAnd how do you guys tell that buying power turns weaker now?

Really could not predict the market.. but I did earn USD 1, quite a good sign for my first US Trade.
Can't lose for the first trade.

But one thing for sure is there is not much good news available in near future..

Really could not predict the market.. but I did earn USD 1, quite a good sign for my first US Trade.
Can't lose for the first trade.

But one thing for sure is there is not much good news available in near future..

Citigroup Earnings Preview: Third Quarter 2009

    * Thursday, October 8, 2009
    * Featured, Financial Stocks
    * Add a comment

Citigroup (C: 4.63 -0.43%) is scheduled to report their third quarter 2009 results before the market opens on Thursday, October 15. Based on our analysis, we at EarningsPreviews.com are expecting Citi to report better than expected quarterly results that will exceed Wall Street’s consensus expectations.

Analyst Expectations

We are forecasting revenues of $20.95 billion and EPS of ($.20). This would represent a 40% increase in revenues from last year’s $16.68 billion in the same period. The current analyst consensus estimates calls for revenues of $20.49 billion and EPS of ($.21).

After easily exceeding Wall Street’s consensus estimates the last two quarters, we expect Citigroup to only marginally exceed the Street’s expectations this quarter. The company continues to face massive credit losses as unemployment continues to weigh on consumers. Over the last three months, another 768,000 have lost their jobs and the unemployment rate has risen from 9.5% to 9.8%. Unfortunately, improvements in the labor markets are not expected until at least 2010.

Last quarter, credit losses climbed 81% to $12.4 billion and showed further deterioration from the $10.3 billion recorded in the first quarter. While Citi’s stock has soared since dropping below $1 in March, the stock has been treading water since August as consumers remain concerned over future credit losses. We believe the stock will likely remain below $5 until there is clear evidence that these credit losses are abating.

Share Performance

Since the beginning of the year, Citigroup’s shares have fallen 31%, but are up over 300% since March. In 2008, Citi’s shares fell an amazing 76% and badly underperformed the 34% decline in the Dow Jones industrial average.

Valuation

Shares are now trading at 66x consensus 2010 EPS estimates. This is above the relative valuations of their peer group. We continue to view Citigroup as the most speculative stock within the financial sector and feel that credit losses continue to pose significant risk despite the improving economy.

Recommendation: Hold

Next week will be an interesting week for C. 

Still a manipulative trading on C.

Price stuck in the zone of 460-480 for last 3 weeks.
Perhaps the traders are waiting for the earning report.

Anyway, spend d last 4 hours searching for better broker - cheap, allow day trade. fast execution, great GUI, great support and transparent.

Will update the info here.

*P/s - 95% many of them claimed to be CHEAP but hidden cost everywhere.

If you can open US account. Transfer out from sogotrade will be cheaper way.

Btw, Any one try to transfer from sogotrade to firstrade and withdraw the money back through firsttrade method?

I think they restrict you to withdraw money for some time if they subsidize you to do so..

But after sometime, can we perform the transfer from sogo to ft?

You can. if you account has more than US$25000, then firstrade does it for free, if not Sogo may charge US$50.

After that, you may have to wait for a few months for withdrawal..

I just discovered that Sogo does not have option trading and mutual fund.

Well, all brokers have their pros and cons...

I think in term of brokerage fee with reasonable service, Sogotrade offers USD 3 per trade, but without streaming quote.
The disadvantage is they does not allow free check withdrawal, which costs about $50 per withdrawal.
The money deposit itself has cost RM25 (suppose you use maybank wire) + conversion lost + US$15 (US receiving wire fee)
The money withdrawal costs about US$ 50 + conversion lost + RM 10 (Malaysia receiving wire fee).
That means we should be ready to bear RM300 loss before we even started to trade.

I am using firstrade now with $6.95 per brokerage. I mean I have to earn more than US$13.90 in order to make a profit.

I am thinking of a cheap way, mailing the banker cheque (Postal fee RM8.00 + bank commision about RM 10 +  3 weeks waiting time).
Withdrawal using firstrade is free, which takes about 3 weeks.
But, I might run into risk of missing my postal mail, especially when they send to me, it used regular mail.

In term of using local borkerage, I guess CIMB offers US$25 per trade. If you want to buy one time off and sell it after a few years then it worth. But you know.. US market is so volatile, I don't think holding it for long term will be beneficial.