I am not an experienced trader, only a 24 year old planning on starting grad school in a few months.
I opened a scottrade account a little while back and have been slowly building up my balance, saving a couple hundred from each paycheck.
My first buy was China Mobile (CHL on the nyse). I got it at 79 and change. My rationale is that the cell phone market will not get any smaller anytime soon in China, and from the research I did, it seems CHL has the lion's share of that market.
Also, its stock was over 110 a few months ago, then dipped to 70 when pretty much everything was going down.
Anyone have any thoughts on how long I should hold onto it? Like I said I am not very experienced in this, so I will appreciate any feedback. Thanks and good luck with your plays everyone.
I opened a scottrade account a little while back and have been slowly building up my balance, saving a couple hundred from each paycheck.
My first buy was China Mobile (CHL on the nyse). I got it at 79 and change. My rationale is that the cell phone market will not get any smaller anytime soon in China, and from the research I did, it seems CHL has the lion's share of that market.
Also, its stock was over 110 a few months ago, then dipped to 70 when pretty much everything was going down.
Anyone have any thoughts on how long I should hold onto it? Like I said I am not very experienced in this, so I will appreciate any feedback. Thanks and good luck with your plays everyone.
