Stocks I'm peeping out today. $SCYX, $UMRX, $CLSN, $BIOC, IBIO
All news and/or BECW long plays. Haven't checked out the Guru watchlists yet as that's the point. Make my own choices based on catalysts, technical indicators, support/resistance, previous day. etc. I will now go take a look at what the Guru's are watching and why.
Because of PDT rule I would choose one of these to play.
I just funded my eTrade account to prepare for when I do start to trade though I was told that eTrade is not good for pennystock trading? Read it was in Tim's book and blogs so a bit confused on that will have to get more information.
Till next time.
@Rick14 Ah, Thank you for that information I was not aware.
Cash account isn't subject to PDT, but you can only trade with settled cash. Cash usually takes 3 days to settle after a trade.
@dckeener - I see. So any profits I make in a trade wouldn't be able to be reinvested into other trades until it has settled. So indirectly my trading would be limited until the account has grown some anyway.
@QuestEons The entire traded amount is held as unsettled, you could reinvest it if you want. eTrade will give you a warning about selling the trade with unsettled cash. They (eTrade) has been pretty good about settling the trade within 2 days. I like it because it keeps me from over trading. It's not as restrictive as the PDT rule obviously but if you are disciplined about it you'll be fine while you learn and trade. Hopefully one of these days I will start to profit more than I am...but I
Join now or log in to leave a comment