Yes. You have to have margin account to short sell.

Because you have already hedge it, as your capital is in USD, which is converted earlier.

My W8BEn is still on the way mailing to firstrade.
I just talked to them through phone, they mentioned they need 1 working day to activate my account.
Anyone know using normal how long will a mail take to go to New York?

Covered 300 @ FAS 84.02, market isn't as bearish.. as I thought. Small profit.

Lucky didn't short C..

Will wait for close to see direction.

This post has been edited by danmooncake: Sep 21 2009, 11:03 PM

Nice swing for C.

AIG is just too "expensive" for me to get. 100shares already 4,000

Basis is the price you bought??

C look pretty resilient so far. Those cheap ass looking to buy at $3.5 will have to wait much longer perhaps no chance at all.

This post has been edited by danmooncake: Sep 22 2009, 12:59 AM

I think i can start to trade by today.

C will go up. luckily you did not short. I will buy soon.

By the way, how can we get the earlier information like AIG and FAS?

Those with limited bullets to buy financial stocks like: AXP, C, BAC, JPM, WFC, MS, GS, etc..
but wish to get into financial sector as part of your portfolio can buy XLF instead.

XLF is an ETF for financial. It is cheaper, safer (less volatile) and for longer term (not meant for trade but for investors).

The US financials have been beaten down badly and if economy recovering, XLF will look forward to double its value again.
Look at XLF chart... it is beautiful.

Good luck!

This post has been edited by danmooncake: Sep 22 2009, 01:21 AM

Anyone on the AIG boat? Its up 18% now.

i used nationwide to mail to them,it took about 5 working days.

AIG is really not making any sense right now. Even the faintest idea of the Feds being favorable about them restructuring their debt is sending it to the moon.

On the other hand. C looks like a dog

Investors are happy if the US govt can get out and the US govt is also happy if they can get out.
Unlike Malaysia, US govt doesn't want to be running a business and there isn't such a thing
call GLC. When the govt is out, investors will pour money into the company and let it run competitively.

This is perhaps 180 degree from the mentality in Malaysia, where someone in the govt wants to control everything.. hence we got few foreign investors.

Anyway, IMO, C performed well today in the down market. Up 4%.

This post has been edited by danmooncake: Sep 22 2009, 04:33 AM

The funds are capitalising on greed. What i meant by dog is C performance in relation to AIG. Even when C came up with its interest to release itself from the rescue funds, it didnt stir the hornet's nest.

Actually i am curious to know, how many of us here has AIG? I am certainly not 1 of them. I even missed the Citi dip 4 days ago

Using nationwide will be about RM65. (it estimates to be 3 days delivery)
while normal registered mail will be about RM9. (use about 15 days to deliver)
I used normal registered mail one week+ back.

I feel like firstrade is really not so cust-oriented (takes so long to activate the account).
I applied for OptionsExpress and it took me only one working day to get everything done (i can email scanned copies).
Of course the fee is $6.95 vs $14.95.
For long term, I might change to Sogo, as I do not really need mutual fund and bond. ( we have 1-Malaysia here)

---

Added on September 22, 2009, 9:46 amSogotrade no margin account?

Ok.. ok.. have a nice sleep.

---

Added on September 22, 2009, 9:52 amSogo has to use regular mail to request cheque withdrawal?

This post has been edited by epalbee3: Sep 22 2009, 09:52 AM

Seems like traders are predicting a fall in crude oil prices due to oversupply.

Oil Options Hit Highs as Verleger Predicts 44% Plunge

Will LVS shoot up to $70 by next year end? Any thought?

Shorters, remember not to miss out NASDAQ:STEC, the bubble is weakening.

see NYSE:MGM, between 2005-2008, there is clearly a "casino bubble", its fun if you ride on a bubble at the bottom. Second bubble might form again, but it will not be as high as the first one (historically).

Remeber tech stock bubble?
some examples
NASDAQ:CSCO (1998-2001)
NASDAQ:INTC (1998-2001)

This post has been edited by klfong: Sep 22 2009, 04:59 PM

Besides Etrade.com, which brokerage firm has bank account with brokerage account combined?

I have account with Etrade.

I am asking this becoz it would be easier to transfer money using ACH (USA interbank transfer).

How you open US account?