Stock market blues...

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Stock market blues...

Postby glorkar » Fri Nov 19, 2010 1:19 pm

I haven't been in the game too long. Don't necessarily know when to hold and when to sell. I ended up buying 200 shares of GM for about $0.60 a share before they bankrupted. Changed to MTLQQ. Forgot about it. Now I read it is going to be absolutely worthless. Zero. Zip. Zilch. So I sold it for a whopping $0.18 a share. Hey, got about $30 back in the account :shrugs:
Don't think I'm gonna get any of the new GM stock either. Any hot tips out there for what company to invest in next?
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Re: Stock market blues...

Postby RVRoadTrip » Fri Nov 19, 2010 1:38 pm

The only stock I ever had was given to me, 3 shares of Circle K. I sold them for whatever the market was when I got them. Buying stocks is a form of gambling IMO. You gambled on the GM stock and lost, other put their life savings in stocks and some win, some lose. I don't have enough money to worry about stocks, portfolios or the eTrade baby. I think that's a good thing in itself. ;)
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Re: Stock market blues...

Postby BlindTyldak » Fri Nov 19, 2010 11:34 pm

My biggest suggestion would be if you are new to the game, go mutual funds so that you can diversify with a single investment rather than putting all your eggs in one basket. I used to work for Franklin Templeton and in my own very biased opinion ( ;) ) they're a solid option for beginners. In today's market I like their European fund, Class A.

If you still want to go with single companies, consider researching the companies that make the PARTS for hybrid and electric cars (but not the car stock themselves). Green options are getting to be a wise buy, and if you go with the part manufacturers, if the auto company fails, they can always make something else so you don't stand to lose your shirt before you can sell.
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