Question for Woof, or those familiar with the Stock Market.

Dawoofdaddy · Jan 24, 2006

You can buy stocks in pre-market trading shortly after 8am.

However, you often have to use limit orders and if taking large positions in individual stocks, will have to raise price as market makers will raise the asking price.

Usually Cramer stocks will jump in after hours PM trading and then often trade higher in pre-market following day.

I listen to Jims themes and picks, but he has a very large following now and probably some fade value in some of those stocks as MM are probably keen to what he will be touting during his evening show.

I do not "trade" via his picks, but do listen to his intermediate and longer term projections. Alot of people think he is a loudmouthed maniac, but reality is that he is a very sharp investor and knows all the big boys who make markets move.

Not much room for error playing stock market steam like sports. Be careful betting big amounts when starting to follow stock market or you will very quickly blow out.

I am currently in Asia, but will answer any other questions you may have when I return.

bigbet1234 · Jan 24, 2006

Thanks Woof. Yea, i was told you were in Asia. Have a safe trip.

I am trying to get a feel right now, no big money invested, but I will give it a shot.

Todays release I knew would be huge, REDF, said they are the google of india, shit went up damn near 20% after market:nopityA:

BB

DAWOOFDADDY said:
You can buy stocks in pre-market trading shortly after 8am.

However, you often have to use limit orders and if taking large positions in individual stocks, will have to raise price as market makers will raise the asking price.

Usually Cramer stocks will jump in after hours PM trading and then often trade higher in pre-market following day.

I listen to Jims themes and picks, but he has a very large following now and probably some fade value in some of those stocks as MM are probably keen to what he will be touting during his evening show.

I do not "trade" via his picks, but do listen to his intermediate and longer term projections. Alot of people think he is a loudmouthed maniac, but reality is that he is a very sharp investor and knows all the big boys who make markets move.

Not much room for error playing stock market steam like sports. Be careful betting big amounts when starting to follow stock market or you will very quickly blow out.

I am currently in Asia, but will answer any other questions you may have when I return.

bigbet1234 · Jan 26, 2006

Last two days his releases have hit the 20% mark. I am thinking of waiting for the hype, then shorting it later is the best option now.

Although, I am not familar with shorting, so research has to be done.

BB

SHACK · Jan 27, 2006

BB - Be careful with this strategy. I have noticed you will get the best next day spillover on his plays from stocks you have never heard of. don't mess with the Wal Marts, Time Warners, Nokias of the world when he plugs them. The small stocks are the runners for next day spillover if you do get in at a decent price after hours. Good luck. I usually just TIVO his show and watch later or go to his website after the show to see what stocks he pluged. If your selective and price cautious you may be able to get 1 or 2 winnners a week, depending on your entry point.

YourAllAmerican · Jan 27, 2006

Be very, very careful shorting stocks. It's not something for novice traders. You can lose a lot of money in a big hurry shorting the wrong stock, and margin calls guarantee it's not always in your hands when you buy to cover.

I'd suggest trading for quite a while before you short your first stock. You want to really understand just how little we can predict the movement of the market on any given day before you get into this advanced trading strategy.

Trying to time the market in general is difficult as hell. A lot of people say it just can't be done, not with any degree of consistency. It's your money, so you should do with it what you see fit, but I'll stress again the wisdom of starting with very small lots.

bigbet1234 · Jan 27, 2006

SHACK:

Yeah, I'm just getting a feel for it right now. I notice the smaller price stocks($8 and under) get the most steam when he releases them. I will stay clear of the Wal-marts and such.

I am simply looking to get a deal in the after-market, then dumping it the next day when it peaks. The only problem is getting a decent price. The last few nights his stocks have hit 20%. I just need to get in before the gap.

ALLAM:

Yeah, I wont be shorting any time soon. I am a NOVICE when it comes to stocks. Still learning, but treading lightly.

Thanks guys.

BB

Dawoofdaddy · Jan 28, 2006

Its hot and raining here so have time to add some thoughts

Short to intermediate term, a trader can equally lose money shorting a stock as going long a stock.

Before you take a position, have an idea what your goals are and WRITE THEM DOWN. Do your best to adhere, but easier said than done.

Have downside limits which you are going to cover and walk away, no matter how painful. Point is to NOT TAKE BIG LOSSES.

When you have met your profit goal, use stops as much as possible to protect most of the profits and raise stop accordingly if stock continues higher.

If you have a horrible few day stretch, take a day or two to relax...and equally, when you hit a few homeruns, pull a few crumbs off the table and put in a separate cash account.

Ultimately one must remember: one has to do what works best for them, and not listen to the countless mantras (which are useless) out there...such as "buy low, sell high, buy and hold, stocks always go up long term".

Has anyone ever heard "short when overbought and cover when a bargain"? How about "bursting bubbles blow up wallets"?

Its just as likely to buy a 10,000 pound bowling ball as it is to short the next nasa space launch.

I have probably made as much money "trading" via short sales as I have trading long side (although other than month to month I dont keep such records). I merely give the quarterly data to my accountant and he tells me quarterly and annually what I have made.

The overwhelming % of my portfolio is held via long term (2-5+ year) and intermediate (6mo-2 year) positions.

However my short term trading is as likely to go long or short any particular stock. It makes no difference to me whatsoever...nor should it.

Wall Street has never widely discussed shorting stocks, so expect to get strange stares if you discuss shorting with average type investors/brokers. They somewhat deem it to being unpatriotic, which is ridiculous.

Best of luck to you and do your homework and have good money management skills before doing any short term trading. There will be good days and bad days...dont try to make money EVERY day, for it doesnt matter anyhow...what you earn intermediate and long term is what does.

Expect to get whacked several times as nobody earns serious profits from this game without first paying their tuition. Those that survive the initial tidal waves, earn their stripes and then do well for themselves.

If you have the time, post whatever positions you are condisering and maybe some of us may be able to give our thoughts.

:smoker2:

SHACK · Jan 29, 2006

Good luck BB, but be selective and let us know how it is going. There are a million people watching his show so it will be tough to buy at a good price in after hours. You would probably be better off playing middles in hoops as his show is on the hour leading up to the start of the east coast games. Stick with what you know bro, no free lunch there, trust me.

Wrigley · Jan 29, 2006

The street.com now tracks all of cramers stocks performances that he talks about on Mad Money

http://madmoney.thestreet.com/

Wrigley · Jan 29, 2006

Cramer recommend a BUY on the stock NMTI said it could go to a $100 it closed at around $17 Friday after cramer mention it on mad money it jumped to $22. Most people will not get the $17 price which he will use in determing his gain on the street.com it will open much higher Monday.

-----------------------------------
Cramer on NMTI

"I have a $17 stock for you that, if everything goes right, could easily trade up to $100 per share," Jim Cramer told viewers of his "Mad Money" TV show Friday.
The stock is NMT Medical (NMTI:Nasdaq - news - research - Cramer's Take).
It's not a buy-and-hold play, he said, but if you're willing to take some risk it could possibly make you some money fast off of people who suffer from severe migraines.
There's a heart defect called patent foramen ovale (PFO) that affects one in five people and has been connected with an increased likelihood that a person will have migraines, Cramer said. If you close the hole in the heart caused by the defect, it could have a profound impact.
NMT Medical has an implantable, stent-like device called CardioSEAL that could help plug this hole and is already being used to help with strokes, he said. And right now the company is trial testing the device to prove its effectiveness. If the trial works, I think you'll be hearing about it and paying $100 a share, Cramer said. But, he cautioned, the stock could go below $10 if the trial testing don't work out for the company