Anonymous Poster
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Can you say Global Crossing, the company thia figured out how to screw stockholders by making their stock unsaleable till after it hit the skids?
stock
- Thread starter heehaw
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Gary_in_Indiana
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I have accounts with Datek and Ameritrade and don't have anything negative to say about either one. I'm sure there might be someone better in one way or another and have no doubt at all there are some a lot worse.
Ameritrade
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chim
Elite Member
Datek has been great to deal with. It's pretty simple to do. The hard part is picking the right stock..............chim
cstocks
Platinum Member
I have two accounts with Datek and one with Scottrade. I have never had any problems with either one. I actually have two accounts at Datek. One is my regular account for buying and selling securities and the other is where I have my Roth IRA.
I do have one minor complaint with Scottrade and it has nothing to do with the quality of their service. My complaint is that if I sit idle for too long I get timed out and have to log in again before I can proceed. I know they do this for my protection but I don't like the delay involved having to log back on before I can make a trade.
Other than that I like Scottrade as much or more than Datek. I like the way Scottrade has their system set up and their market orders are a little cheaper than Datek. Datek charges $9.99 for market or limit orders. Scottrade charges $7 for market orders and $12 for limit orders.
Chris
I do have one minor complaint with Scottrade and it has nothing to do with the quality of their service. My complaint is that if I sit idle for too long I get timed out and have to log in again before I can proceed. I know they do this for my protection but I don't like the delay involved having to log back on before I can make a trade.
Other than that I like Scottrade as much or more than Datek. I like the way Scottrade has their system set up and their market orders are a little cheaper than Datek. Datek charges $9.99 for market or limit orders. Scottrade charges $7 for market orders and $12 for limit orders.
Chris
rancar
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Worldcom gets delisted tomorrow, Friday, 7/5/02....then it may be a bit more difficult to buy and sell this issue. As other poster mentioned, this company is loaded with problems and only getting worse day by day. You're taking a real gamble on this one but if you're right and the company survives you may have a 10 or 20 bagger profit return, at minimum. /w3tcompact/icons/smile.gif There is a reason this issue fell from $60+ to $.06 over the past two years. These reasons shouldn't be so readily discounted. Unless if things improve dramatically, the market (which is always right) is discounting and forecasting WCOM's bankruptcy.
TerryinMD
Veteran Member
All -
The WorldCom debacle.... only too familar. /w3tcompact/icons/eyes.gif
As far as WorldCom going under completely - no way!! They have too many valuable assests and customers to go under. Take a look at the reports that are circulating concerning the internet portions of the company. It's all about the Internet backbone. Forget about the long distance and web hosting stuff... it will be sold off in short order. The beauty of the Internet portion of the business is that it is built out and does not need much investment for foreseeable future. Some minor new investment, but not a big build out. Take $250 bucks and buy a thousand shares. The stock will probably go up another .10-.15 cents in the next couple of months. Sell it off and make a hundred or so dollars. If it goes south, then you can write off the loss. $250 is manageable.
I'm considering it myself... even though they laid me off last week. /w3tcompact/icons/shocked.gif
Terry
The WorldCom debacle.... only too familar. /w3tcompact/icons/eyes.gif
As far as WorldCom going under completely - no way!! They have too many valuable assests and customers to go under. Take a look at the reports that are circulating concerning the internet portions of the company. It's all about the Internet backbone. Forget about the long distance and web hosting stuff... it will be sold off in short order. The beauty of the Internet portion of the business is that it is built out and does not need much investment for foreseeable future. Some minor new investment, but not a big build out. Take $250 bucks and buy a thousand shares. The stock will probably go up another .10-.15 cents in the next couple of months. Sell it off and make a hundred or so dollars. If it goes south, then you can write off the loss. $250 is manageable.
I'm considering it myself... even though they laid me off last week. /w3tcompact/icons/shocked.gif
Terry
DocHeb
Veteran Member
IMHO - The portions of this company that are valuable and have value will be sold off, and the sales proceeds will not go beyond their debts ----- i.e. shareholders will get nothing.
HeeHaw - I have experience with <A target="_blank" HREF=https://www.buyandhold.com/>Buy & Hold</A>. I think for smaller accounts and small block (less than 100 share) trading they are easy to deal with. I have a small account with them for my kids. If you really like trading, and do so often, you can save on commisions. However, if you're a long term, minimal-trading investor the monthly charges will get you.
HeeHaw - I have experience with <A target="_blank" HREF=https://www.buyandhold.com/>Buy & Hold</A>. I think for smaller accounts and small block (less than 100 share) trading they are easy to deal with. I have a small account with them for my kids. If you really like trading, and do so often, you can save on commisions. However, if you're a long term, minimal-trading investor the monthly charges will get you.
micromike
Silver Member
I've been investing for quite a few years and online for several years. Right now I trade with Ameritrade and am very happy with the service.
As far as WCOM(E) What you saw over the past few days is called a "dead cat bounce." If you got in at .06 you made some money (provided you sold yesterday or today). If you didn't, it is probably very risky now. But then again, maybe not! Am I starting to sound like an analyst? I wouldn't bet on it now, but feel free...
Take your time and don't invest money you can't afford to lose.
Oh, and here's a tip.... The market is going to crash again in late August or early September of 2002. It will make what has happened over the past two years look like a cake walk. The market will then trade sideways for a time, it's difficult to say how long. So if you are really wanting to invest, wait until the market crashes again and then pick up some bargins.
Good luck and have fun.
Mike
As far as WCOM(E) What you saw over the past few days is called a "dead cat bounce." If you got in at .06 you made some money (provided you sold yesterday or today). If you didn't, it is probably very risky now. But then again, maybe not! Am I starting to sound like an analyst? I wouldn't bet on it now, but feel free...
Take your time and don't invest money you can't afford to lose.
Oh, and here's a tip.... The market is going to crash again in late August or early September of 2002. It will make what has happened over the past two years look like a cake walk. The market will then trade sideways for a time, it's difficult to say how long. So if you are really wanting to invest, wait until the market crashes again and then pick up some bargins.
Good luck and have fun.
Mike
kevinro
Bronze Member
I have been using eTrade for about 3 years now, and have been happy enough with them.
WorldCOM is going to be an interesting story to watch. Unlike Enron, which had no actual assets, WorldCOM does. They handle well over 50% of the traffic for the internet, and own a whole lot of hardware that is already paid for. The problem with Enron is that the company was using flat out fraud to inflate the asset value of the company by leveraging its own stock. Worldcom did it by changing the expenses into the wrong column. Both are bad. Both are illegal.
If you can get past the emotional hurdle, and go back and restate their earnings for about the last 5 quarters, you will see that they are losing money, but they still have some valuable assets backing up the company (approximately $38 billion in plant and equipment). Losing money doesn't mean the company is worthless. Their market cap is only 2.5 billion at the moment, which is basically way too low. I wouldn't be surprised to see someone come in and buy them up!
The risks at the moment are that the company gets sued into the ground. Its creditors are not likely to foreclose on them, however, since the numbers aren't all that bad. It would be better to help them through this problem than to force a bankruptcy.
I did the same thing you did. I bought about several thousand shares at rock bottom. I give it the same odds as a hand of blackjack at the casino. Might pay off, might not. Don't bet the farm on it.
I am, however, sick of the current feverish desire of many in pounding corporations into bankruptcy. I would rather send some crooks to jail, but try to save the company. Remember, there are 61,700 people who work there, and another 25,000 investors who knew nothing of scandle, yet are paying for it. Those people need my support, not my condemnation.
Kevin
WorldCOM is going to be an interesting story to watch. Unlike Enron, which had no actual assets, WorldCOM does. They handle well over 50% of the traffic for the internet, and own a whole lot of hardware that is already paid for. The problem with Enron is that the company was using flat out fraud to inflate the asset value of the company by leveraging its own stock. Worldcom did it by changing the expenses into the wrong column. Both are bad. Both are illegal.
If you can get past the emotional hurdle, and go back and restate their earnings for about the last 5 quarters, you will see that they are losing money, but they still have some valuable assets backing up the company (approximately $38 billion in plant and equipment). Losing money doesn't mean the company is worthless. Their market cap is only 2.5 billion at the moment, which is basically way too low. I wouldn't be surprised to see someone come in and buy them up!
The risks at the moment are that the company gets sued into the ground. Its creditors are not likely to foreclose on them, however, since the numbers aren't all that bad. It would be better to help them through this problem than to force a bankruptcy.
I did the same thing you did. I bought about several thousand shares at rock bottom. I give it the same odds as a hand of blackjack at the casino. Might pay off, might not. Don't bet the farm on it.
I am, however, sick of the current feverish desire of many in pounding corporations into bankruptcy. I would rather send some crooks to jail, but try to save the company. Remember, there are 61,700 people who work there, and another 25,000 investors who knew nothing of scandle, yet are paying for it. Those people need my support, not my condemnation.
Kevin
rancar
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Mike...
<font color=blue>Oh, and here's a tip.... The market is going to crash again in late August or early September of 2002. It will make what has happened over the past two years look like a cake walk.</font color=blue>
Agreed! Yesterday's super rally was clearly impulsive. In Elliott Wave parlance, now in Primary wave 2 to the upside lasting 4 to 6 to 8 weeks. Maybe good for 10-12% minimum upside for SPX, 15-20% minimum on COMPX. Then, Primary 3 to the downside starting in August/September time frame. Primary 3s are killer waves....should cause considerable 'wealth' destruction. Fundamental 'news related' reasons for this will be combination of financial (continuing poor corporate profit picture, accounting scandles, etc) and geopolitical (possible mid-east wars with ****** vs. Syria, H****s, Hezbollah, Iraq/Iran vs. US, India vs. Pakistan, all at the same time). Would suggest anyone looking for 'long-term' investments to wait until later this year. Looking for ultimate bottom targets (just for this year) of 5,000-6,000 DOW, 700 SPX, 750 COMPX. I don't see these though as ultimate bear market lows. Bear market lows should come in late 2003/early 2004 before the next bull market is born. All rallies taking place now are bear market variety....short, sharp, which will all be given back in time until we hit ultimate bottom.
Bob
<font color=blue>Oh, and here's a tip.... The market is going to crash again in late August or early September of 2002. It will make what has happened over the past two years look like a cake walk.</font color=blue>
Agreed! Yesterday's super rally was clearly impulsive. In Elliott Wave parlance, now in Primary wave 2 to the upside lasting 4 to 6 to 8 weeks. Maybe good for 10-12% minimum upside for SPX, 15-20% minimum on COMPX. Then, Primary 3 to the downside starting in August/September time frame. Primary 3s are killer waves....should cause considerable 'wealth' destruction. Fundamental 'news related' reasons for this will be combination of financial (continuing poor corporate profit picture, accounting scandles, etc) and geopolitical (possible mid-east wars with ****** vs. Syria, H****s, Hezbollah, Iraq/Iran vs. US, India vs. Pakistan, all at the same time). Would suggest anyone looking for 'long-term' investments to wait until later this year. Looking for ultimate bottom targets (just for this year) of 5,000-6,000 DOW, 700 SPX, 750 COMPX. I don't see these though as ultimate bear market lows. Bear market lows should come in late 2003/early 2004 before the next bull market is born. All rallies taking place now are bear market variety....short, sharp, which will all be given back in time until we hit ultimate bottom.
Bob