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Last post 05-09-2008, 9:11 AM by Jmelcher. 8 replies.
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  •  05-08-2008, 1:31 PM 28734

    Hey everyone

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    Hi!

    I recently graduated from college and have always wanted to get inolved in the stock market, but never really had the money to while I was in school. Right now, Im currently putting $450 into my Roth IRA, $260 in my 401K, $269 into my whole life insurance each month  but I still have about 300 left that i feel i want to play in the stock market with each month, cause i feel its a better investment than going to sit at the poker tables.

    My question is, since i have my long term investments taken care of, what should i do with the addition 300 each month? I could put it into my 401K, but I want to take some risks and possibly make some money. would you guys recommend penny stocks? or other stocks that have a chance of blowing up?

    I notice most penny stocks don't have much data, is that because they are fairly new, or they just dont record it?

    Also, I really dont know much about investing on my own yet, so any pointers or advice would be much appreciated!!!

     

     

    Thanks!!

    -JM

  •  05-08-2008, 1:55 PM 28739 in reply to 28734

    Re: Hey everyone

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    Put the $300 n your Zecco money market sweep account and earn 4.38% (currently) interest on the cash balance while you play the market with your margin dollars.

  •  05-08-2008, 2:04 PM 28742 in reply to 28734

    Re: Hey everyone

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    what are margin dollars? sorry i really dont know that much..

  •  05-08-2008, 4:35 PM 28747 in reply to 28739

    Re: Hey everyone

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    Interest on the money market sweeps is down in the 2% range now. The information on the application, unless its been updated, was correct as of August of 2007. Rates have gone down.

  •  05-08-2008, 5:59 PM 28754 in reply to 28734

    Re: Hey everyone

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    My favorite penny stock is GOVX.  Check out the member boards for Geovax Labs @ Ragingbull.com.!

  •  05-08-2008, 9:48 PM 28769 in reply to 28754

    Re: Hey everyone

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    Don't trade on margin and don't focus exclusively on penny stocks. It's great that you a few hundred dollars each month to invest. Start researching companies you might want to invest in. Check out people's portfolios on Zecco Share to get ideas for companies and then look more into them. If you have questions about someone's portfolio choices you can send them a private message through Zecco.

  •  05-09-2008, 4:52 AM 28789 in reply to 28769

    Re: Hey everyone

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    I would agree with emobrien, as newbie do not trade on margin, do not look into penny stock and do not trade options.  Learn as you go. 
    Good luck.

  •  05-09-2008, 8:20 AM 28799 in reply to 28789

    Re: Hey everyone

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    Is there a reason you bought whole life insurance? You're paying a LOT for someone so young. Is there a reason you didn't go with term life?

    BTW kudos to you for beingt a diligent saver so early. I wish I'd had your wisdom straight out of college.

  •  05-09-2008, 9:11 AM 28800 in reply to 28799

    Re: Hey everyone

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    Well, I went back and forth on the idea of the whole life insurance a lot at first. But after looking into it, it gains about 8%/year over the last 10 years, and it is also non taxed just like a Roth IRA. I guess I looked at it like it would be about 11-12% had it been taxed, so that to me seemed to make a little bit of sense to me.

    I guess it came down to that if i didnt put it there, I would struggle my force myself to invest it elsewhere.

    I've heard the term technicals when trading penny stocks, what does that mean?

    And i think I've decided to put money into energy and oil stocks... not sure how well that will work, but i dont see them going down anytime soon
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