RLTromble > Blogs

User Avatar
Brokerage Account

Member since: Sep 08

Favorite Links

Fed meetings take things down

I just opened my account with TK last week and still waiting for my ach to go through. That being the case, the only thing I can do now is paper trade leaving me with an itchy buy finger (not a good thing).

Here  as of late I have been watching a stock called  Electro Energy (EEEI), in short they make batteries. When I first market it as a buy it was at $.10, that same day it hit $.20 a share, next day it hit 25, after that 30. During this time I had noticed a cylce, it would close high and open lower then the day before. If the cycle had continued today it should have came close to %.35, it didn't. What it did do was open low  at $.26 and fall to $.23. So what happened?

Capital hill...for hours today there was a meeting between the Fed chairman Bernanke and the SBC. The out come of the meeting didn't seem favorable, or at least as far as I could tell. The result, a big drop in stock prices. As for little EEEI, it just went flat and didn't move much at all.

Honestly, I think EEEI will take a small hit tomorrow and drop down to 15. But I will have to wait and see.

Add to del.icio.us Digg on Digg.com Submit to reddit.com
Bookmark It!

Edited by RLTromble at 09/24/08 12:15 AM
User Avatar
User Avatar Brokerage Account

EnglishTeach

Member since: Mar 06

Trades Not Shared
Trade Notes 0
Blog Posts 60

Age: 40's
UNITED STATES
EnglishTeach
penny stocks (just say "No").   ...my two cents, (or three, or four, or five...)
User Avatar
User Avatar Brokerage Account

RLTromble

Member since: Sep 08

Trades 11
Trade Notes 5
Blog Posts 10
Chef/cook
Age: 20's
Avon, Indiana
RLTromble
I know they are risky, but I just wanted to test the waters with something small.
User Avatar
User Avatar Brokerage Account

Haymore

Member since: Jan 08

5 Day -13.65%
15 Day -16.03%
1 Month -2.54%
3 Month -45.08%
6 Month -70.55%
As of: 11/22/08
Trades 582
Trade Notes 36
Blog Posts 24
Semi-retired business owner
Age: 60's
Arizona
Haymore

They are out of $$$$  that is why the stock tanked.

http://biz.yahoo.com/iw/080916/0434440.html 

User Avatar
User Avatar Brokerage Account

RLTromble

Member since: Sep 08

Trades 11
Trade Notes 5
Blog Posts 10
Chef/cook
Age: 20's
Avon, Indiana
RLTromble
I wonder why they are still being traded then?
User Avatar
User Avatar Brokerage Account

Haymore

Member since: Jan 08

5 Day -13.65%
15 Day -16.03%
1 Month -2.54%
3 Month -45.08%
6 Month -70.55%
As of: 11/22/08
Trades 582
Trade Notes 36
Blog Posts 24
Semi-retired business owner
Age: 60's
Arizona
Haymore

There are stocks traded on companies that have filed bankruptcy, companies with negitive net worth and companies that have less than $1,000 in assets that have market values (total shares times share price) in the millions. The fact that it trades is NO GUARANTEE of worth. 

Before you start with real money go over the beginning investor group (I notice you have already been there) and read ALL the posts.  Pick out some of the books mentioned in the posts at your nearest library and read, reread, study what the book says.  Then and only then should you start investing/trading.

The content and stock or option symbols on this page are for educational and informational purposes only and should not be considered a recommendation or solicitation to invest in a particular security or type of security. Your use of the TradeKing Community is conditioned to your acceptance of all TradeKing Disclosures and of the TradeKing Community Terms of Service. © 2008 TradeKing.
Testimonials may not be representative of the experience of other clients and are not indicative of future performance or success.