MillionaireMoneyBlog.com

May Snapshot Update

With the start of a new month is a new snapshot of my progress.  Since the last snapshot I posted I gained 16%.  This is mostly a mix of equity gains and additional additions to my brokerage accounts.  Recently I sold my Activision (ATVI) options since they were hitting resistance levels and then picked up some Palm Inc. (PALM)  I am thinking with the new Palm Pre coming out soon the short term should be fairly positive.  I think with Sprint being the exclusive retailer they will see some nice 3rd quarter gains as well.

Tags: amex, atvi, options, palm, s, Snapshot, starwood, tcf bank

Buy and Hold is Bulls**t!!

Tags: bear market, bonds, dividend, Dow, GDP, Investment, mutual fund, Nasdaq, recession, S&P 500, stock

Interactive Brokers Stock Brokerage Review

In continuation of MMB’s best stock broker for active traders, we will be looking at Interactive Brokers.

Interactive Brokers is a broker targeted to active traders and those that have a better clue to what they are doing. The broker actually conducts trades for many professionals, and you can also trade in many foreign exchanges.

With Interactive Brokers, you can trade stocks, options, futures, FOREX, bonds and funds.

Pricing Structure - There are various types of pricing structures, but because everything is done in-house commissions are cheap. They are basically grouped into separate categories: take a look at the full breakdown here, and depends on your frequency, volume, and price.

Tags: brokerage, commission, forex, interactive brokers, options, Reviews, stocks, trades

$50 giveaway for reading THIS post!

Today I was just looking for a savings account to park some of my paychecks, while I didn’t find the rate I’m looking for, I did end up finding a $50 free promo at a bank for opening an Checking Account.  The bank throwing this promotion is TCF Bank - check it out!!

Another great thing about this bank is that they are open 7 days a week, who knows I may even keep this account open for more then just the Free Money!

Best thing - no direct deposit or number of purchases are required.

Tags: banking, checking, Free Money, TCF

Uptick Rule Explained

The uptick rule is a former financial regulation that was eliminated by the SEC, effective July 6, 2007.

Established after the great crash of 1929, the uptick rule was designed to restrict short selling by permitting short sales only following a trade where the traded price was higher than the previously traded price (uptick). Let’s take a stock that was trading at $100 per share with the last two trades at $99.75 and $99.50, respectively. If you wanted to go short on that stock, you would need to wait for the uptick — until the stock went up from $99.50 to $99.75, for example. Then you could go short.

Tags: Bear Sterns, Cox, Madoff, SEC, short sale, uptick rule