Just some quick thoughts on the market that opened this morning. I’m watching it somewhat closely so that I can find my first trade which I will do this week. Not quite ready to do it yet, but soon.
Two stocks I’m watching today. The first is ETrade. Still not interested in buying more of it at this point, just want to watch. But it had a big announcement today that Citadel investment has invested 
$2.55B. For that money, Citadel got a lot from Etrade, including 17% of the company. The deal looks bad from a shareholder perspective, but it’s good that a large fund is taking a stake in Etrade. These funds don’t do this to lose money. They do it to make lots of money, so it does give some hope to Etrade investors. Still don’t buy the stock here though.
Dell actually looks very interesting to me. Again, I don’t think I buy here, but there is probably going to be some action here after the bell. Dell is going to have a conference call today, something they haven’t done in a while. Michael Dell has retaken the helm and PC sales have been strong for the last quarter. I think Dell surprises to the upside. It has been strong as of late, but I think with strong numbers, Dell can push through the $30 resistance which has held it down for years (much like MSFT temporarily pushed through its resistance). I think it has $4 of upside, maybe $1 of downside. Not bad. Will know what you should do here in about 3 hours.
Dell missed, and the stock is down in after markets. I really didn’t think they would miss this quarter, but that is why this game is so dangerous, you just never know. Interested to see what happens in the morning when the markets open. Dell is still a big name, might have a negative effect on the market.
All your talk of the stock market and making money makes me wish I could invest… Only problem: mother. She flat out refuses to let me, despite the fact that I turned $10,000 into $20,000 in a “Stock Market Game” at school, based on actual market prices (but obviously not actual money). The prize was a 100 Grand bar
Don’t worry about it. If you are young, which I am assuming you are, just wait until you become 18 and go do it on your own, with your own money. It’s much more rewarding that way anyway.
Hi Terrence,
I’ve been trading dell pretty actively on my investopedia.com account and even though there’s a chance that it’s not going to break above $30, the MACD curve looks bullish. There was a candlestick with long upper and lower shadows today though so I’ll have to wait for confirmation of any downturn tomorrow…
Alrighty, so Dell opened today at $3 under yesterday’s close….
Yeah, the action was much worse than I thought. Then again, Dell’s announcement was much worse than I thought it would be. The Stock has been going up steadily for a while, so it’s not surprising it would retreat.
I just wanted to add to the above comment made by Anonymous. If you invest, it’s better to risk your own money, especially if your investment doesn’t turn out the way you predicted. You can avoid a lot of potential resentment which could end your relationship with the person who lent you the money to invest. Best to be a pioneer using your own wagon.