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Purchasing NYSE stock - 6/25/2009 2:53:57 PM
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Mark0
Posts: 98
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I felt led to buy stock a couple weeks ago. It was GM and because it was classified as a penny stock it was harder to buy than a handgun (lots of waiting time). Right now stocks are still depressed. I wonder if anyone else has had any unction to purchase stock at this time.
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RE: Purchasing NYSE stock - 6/26/2009 1:52:33 PM
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blessedinnyc
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From: NYC by way of Chicago
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quote:
ORIGINAL: Mark0
I felt led to buy stock a couple weeks ago. It was GM and because it was classified as a penny stock it was harder to buy than a handgun (lots of waiting time). Right now stocks are still depressed. I wonder if anyone else has had any unction to purchase stock at this time.
I am buying, but I'm shopping for a good deal.
A lot of energy companies look pretty cheap relative to the price of oil right now. You can pick up a pretty solid 4%-5% yield that won't get cut if oil prices stay above $35-$40/barrel. Or, you can buy into a tax-efficient oil trust whose dividends will adjust as oil prices rise and fall and get closer to 7%.
If the economy ever recovers to the point that the DJIA gets back above 10K without serious changes in how we get energy, oil prices will be back up at $150/barrel. You might as well pick up some decent yielding oil stocks and use that dividend check to help pay for gas.
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RE: Purchasing NYSE stock - 6/26/2009 9:18:21 PM
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Mark0
Posts: 98
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Thanx for the tip Blessed. I'll pray about it. I think in time the market will rise, though probably not fast. Problem is if you wait till then it'll be too late. I think the children of this world are wiser (regarding the matters of this world) than the children of light in their own generation Luke 16:8. I think they may actuall prosper for a time. I don't know.
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RE: Purchasing NYSE stock - 6/30/2009 11:52:37 AM
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kernsfamily
Posts: 842
Joined: 4/26/2006
From: Dallas (originally Detroit)
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quote:
ORIGINAL: Mark0
I felt led to buy stock a couple weeks ago. It was GM and because it was classified as a penny stock it was harder to buy than a handgun (lots of waiting time). Right now stocks are still depressed. I wonder if anyone else has had any unction to purchase stock at this time.
yes....stocks are still depressed and "low".....
isn't that when you're supposed to buy? you know the saying, "Buy Low, Sell High"?
I don't buy stocks from single companies....but, I am shoveling money into my 401(k), as my money is now buying more that it typically would.
And, putting it into my Roth IRA, as well....mutual funds....
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Proud dad of 3 great girls....Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Purchasing NYSE stock - 6/30/2009 12:13:03 PM
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LizzieJ.
Posts: 257
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My husband deals with options. Someone pays him to be put into the stock.
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RE: Purchasing NYSE stock - 6/30/2009 3:39:44 PM
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blessedinnyc
Posts: 2993
Joined: 10/12/2007
From: NYC by way of Chicago
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I am not allowed to comment on specific securities, but I would just note that some oil ETFs ("spiders") invest in a large number of companies, while others invest specifically in the commodity- crude oil futures.
I don't like investing in crude oil. It doesn't pay a dividend. It has to be stored or I have to pay for storage in the form of contango if it's a future. I'd much rather own a trust or an oil company that can store the oil for free as it sits in the ground. Assuming constant oil prices, most commodity ETFs will lose value. That is why commodity ETFs are usually recommended more for experienced short-term traders than individual investors.
A diversified oil major or an oil equity ETF (one that invests in oil companies) is probably a better investment for a typical investor.
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RE: Purchasing NYSE stock - 7/1/2009 7:42:44 AM
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LizzieJ.
Posts: 257
Joined: 6/30/2009
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quote:
I felt led to buy stock a couple weeks ago. It was GM and because it was classified as a penny stock it was harder to buy than a handgun (lots of waiting time). Right now stocks are still depressed. I wonder if anyone else has had any unction to purchase stock at this time.
I wanted to clarify something. My husband does not feel God led to deal in options. It's an action based on math.
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RE: Purchasing NYSE stock - 7/5/2009 6:04:56 PM
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tomfeen
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Not a very exciting topic....but, not reading mutual fund prospectuses can cost you a lot of money.
At the top of the market (14000 Dow) many people I've been exposed to argued with me that "above average risk", "extreme currency risks", "International monetary hazards", "foreign stock risks" really didn't mean a thing.
"Get with the new finance!!! You are not with it unless you invest in all the "sectors" even in Asia."
"Low Cap Stocks aren't risky."
"Don't leave money on the table."
I think you will find that many of those who have suffered badly with their 401(K)'s were fully invested in those type of funds. Our church and cemetery were invested in high risk and are paying the price today.
Read the prospectus and believe what is says. The market doesn't always go up regardless of what your neighbor thinks.
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RE: Purchasing NYSE stock - 7/12/2009 10:56:12 PM
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tomfeen
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Yes, they do ...if their investment committee thinks it is a good idea and their professional investment advisor thinks it is a good idea.
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sundaysermons.net
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RE: Purchasing NYSE stock - 8/8/2009 5:03:16 PM
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clydewolf
Posts: 35
Joined: 8/6/2009
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quote:
ORIGINAL: Mark0
I felt led to buy stock a couple weeks ago. It was GM and because it was classified as a penny stock it was harder to buy than a handgun (lots of waiting time). Right now stocks are still depressed. I wonder if anyone else has had any unction to purchase stock at this time.
Mark0,
The stock you are looking at for a few cents per share is useless. There is virtually no value. The simbol for the "old GM is GMGMQ.
GM has reorganized on July 10,2009, is a privately held company.
The new owners of General Motors are:
- US Government 60%
- Canadian Government and Ontario Government 12% each
- UAW Retiree Health Plan trust fund 12.5%
- Bond Holders 10%
Not quite 100% and I do not know about the remaining 3.5%.
At this time the "old gm" stock has no value and never will have value.
The old gm is traded on pink sheets.
The New GM is not traded on any stock exchange.
Here is more information from the New York Times:
http://www.nytimes.com/2009/07/11/business/11shares.html?_r=3
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