I'm not sifu. There are plenty of sifu around here and elsewhere. I'm a just home gamer.
But, I dare to swim with sharks..

Guys, any recommedation for ETFC. Good play or not?

nice V shape of UNG. From -42 cts + 15, super volatile.

In 1 minutes drop 10-15cts and next up the same value.

Yeah but I'm looking at it in the long term.
Historically, the ratio between oil and gas is about 6-12 times.
Now the ratio is about 24 times probably due to the oversupply, low demand and warmer summer.
But after reading this article I'm not entirely optimistic that UNG will rise up that much.

Natural Gas ETF: Not a Good Investment

Bought some FAZ..@ 26

Swimming with sharks again...

Good luck. I swam with it the last time and it bit me.

Got out at 26.50! Phew! Managed to get back on the boat safely!
The sharks are looking eerie.

This post has been edited by danmooncake: Sep 4 2009, 04:44 AM

Any advice on how to transfer money from maybank to sogotrade?

Cheapest way is Bank Draft in USD. Send to them via Pos. Takes 1 week to arrive in US.
Take another week to clear.

What will be the best way to send them? Since I going to send the registration form this time.

Are you doing daytrading? I thought the minimum requirement to do daytrading would be having 25,000$ in account(as per SEC regulatory). So you have more than 25,000 in your account?

You can TT also. Take 6hr to arrive at your acc and can start to trade liao. But limited amount can transfer and expensive commision fee.

depends on the broker. Im using MB Trading, no restriction on day trade.
Sogo have restriction.

Actually, there is. The FINRA rules apply across the board regardless of broker.

The pattern day trader rules kick in when you buy and sell same security within
same day between 3-4 times in 5 business a day. Yes, one must maintain at last 25K
on any day as min. equities (that includes all your equities/cash).

Only if you get flagged then you are considered as one. If you didn't get flagged, then don't worry about it.

Yours truly has been flagged as pattern day trader. No big deal.



This post has been edited by danmooncake: Sep 4 2009, 12:18 PM

What happens when u get flagged?

Nothing.. it just that if you're pattern day trader, you must meet the Finra rules.
Must have 25K in your account to continue to do day trading. Otherwise cannot do day trading.

So you have 25k or more in your account?

Pre-Market

Goreng in progress, and as USUAL:

FNM, FRE, AIG. In fact, I opened up the 1hr chart, all are having the same pattern.

News on GE,

When the economy begins to turn around, one of the stocks I'd own in a Sioux City second is General Electric (GE-$12.68) even though its dividend sucks. This $170 billion revenue company traded at $42 a share in 2007. This year, GE expects to earn $1 a share with net profit margins of 6.5 percent compared with 2007 earnings of $2.28 and net profit margins of 13 percent. That's quite a flop. GE is one of the largest, most diversified companies in the galaxy with 310,000 employees in 114 countries. It's in the water-treatment business, makes jet, turbine and electric engines, sub-sea drilling systems and floating rigs. GE is in insurance, aerospace products, commercial and military maintenance for aircraft, ships, helicopters, and health care products. GE is in NBC, TV, cable and satellite, lighting, electrical equipment, power generation, security technology, business and consumer finance, etc. GE positions itself as a world leader in every market it competes in. And GE's enormous global presence allows management access to more information about the direction of economic data than its competitors, giving management dibs in emerging economies. This is an impressive company and I'm comfortable suggesting a potential $30 stock price in the coming five years.

That's not news. That's just an analyst opinion by Berko that he thinks GE could go to $30 in 5 years. GE continues to be plagued by the financial side if it can't get rid of that stupid GE Capital.
That's still anemic compare to other Dow stocks.

This post has been edited by danmooncake: Sep 4 2009, 08:46 PM