Looking for a good stock

[lacoltfan]

Im new to trading, have about 1600 invested between ford citi and aig at this point (Im sure not many here would have made those moves, hence the new part). Anyways, probably going to be looking at getting out of those stocks on a bounce from some good news (im really hoping anyways) and am looking for a good stock or 2 that may be good for short term trading. Any suggestions from the pros (or atleast someone who is better at this than me :)

[blynch]

Hoping is not something you should do when trading or investing. Last week seemed to be your bounce, so I don't know what you are still hoping for as that was a premium opportunity to sell. I don't see any good news on the horizon.

Also $1600 will make it tough for short term trading, as $7 each way will be noticeable. Say you make 10 trades, thats $140 spent on commission alone so you have to be up almost 10% just to break even.
Despite that, I like TBT (ultrashort 20yr treasuries ETF) since logically inflation should eventually kick in. This could be a medium to long term play.

SKF and UYG are both good for day trades or short swing trades. I bought SKF late last week and sold today for a nice 17% gain. I am still bearish on financials so I will look to get back in skf on a pullback.

[kingfisher]

My best hold on to stock of any threw these times has been AZO. It was in a tie with GS at one time, but has out held and preformed GS by quite some margin. Look at the charts and see for yourself.

[ptp1600]

FAZ and FAS also come to mind.

I dont think he should trade these or the others mentioned here (with the exception of AZO and GS) though because they don't really follow regular trends and they swing wildly.

[kingfisher]

[QUOTE=ptp1600;216783]FAZ and FAS also come to mind.

I dont think he should trade these or the others mentioned here (with the exception of AZO and GS) though because they don't really follow regular trends and they swing wildly.[/QUOTE

FAZ & FAS and one you did not mention SKF gyrations will come to an end at some point, I suspect prior to this years end. Its time to start picking solid companys IMO, or you can gambel/ speculate and take your chances! The volitlety will come to an end I assure you. History repeates itself.

[ptp1600]

Well I'm not sure I want the volatility to end, double bagging in a weeks time is certainly nice.:mrgreen:

[kingfisher]

Well I'm not sure I want the volatility to end, double bagging in a weeks time is certainly nice.:mrgreen:


It matters not what you want? The market is going its own direction. I hope you are not one that is hoping or wishing?

[lacoltfan]

Hey guys, thanks for the responses, (and Im a she! lol). Some of the picks were a little out of my price range, but UYG and fas may be more in line with my budget. The money Ive invested is not needed for anything so I dont mind making the gamble on a chance it will pay off. I dont think I quite understand through the company profiles what uyg and FAS do? Can someone elaborate for me?

Thanks!

[Bolimomo]

Company profiles? UYG and FAS are EFTs - Exchange Traded Funds. In short: a pool of money from the investors to buy a basket of stocks. These 2 ETFs are specifically for financial stocks. Look them up.

IMO: these ETFs are good for trading. Not good for investing.

[ptp1600]

It matters not what you want? The market is going its own direction. I hope you are not one that is hoping or wishing?

Oh I am well aware that it doesn't care, it was just a joke =).

[timmhaan]

triple leveraged funds shouldn't even be part of this discussion. not for a newbie.