Your Questions About Good Money Making Stocks

Betty asks…

Is it a good way to make money in the stock market by following NYSE’s biggest gaining stocks each day?

At the beginning of each stock market open NYSE.com lists the days biggest gaining stocks. If you buy the biggest gaining stocks at the start of the day and sell them at the end of the day, is that a good way to day trade and make money?

John answers:

Best way would be to study trends such as fuel prices bottom out before winter comes and top out mid-late summer that sort of things.

As far as day trading it could be really sketchy at best because the trend is on a 24hr schedule but reading the news on recals product safety that sort of thing or what ever the news.

Ok case in point XM is doing great

Howard stern says hes signed a 5 year contract with serrius

Overnight 10’s of thousands signed up for service.

I’m willing to be XM’s stock slid nearly as much as sirrius’s went up.

Ruth asks…

Can I make good money off the stock market?

I’m very young, 24, and don’t even have a real job yet (won’t until a year from now at the earliest) but when I do get some cash I’d like to invest it, wisely, in stocks. I’d be very active about it making sure to find out all the information and education on the subject and stocks that I can.
Do you think this is a good idea?

John answers:

The earlier you get started, the better. It is not only a good idea, it is an outstanding idea. As soon as you get a job you may want to open a Roth IRA account and put1/2 your savings into it up to $4000. The other 1/2 you want to keep outside the Roth IRA in case you should need it. Why a Roth IRA? Because evey penny earned in a Roth IRA is tax free. But it is a retirement account and you can not really withdraw the money until you are 59 1/2 with certain exceptions. The reason I say “may” is because a young person might need money for certain things such as getting married and buying a house etc. That more established persons do not have to deal with.

The only caution I have based on past experience I might add is to not invest too much in more speculative companies. They have a tendency to go south in a hurry during recessions. Actually, mutual funds are one of the best options for people just starting out in my opinion despite a great deal of negative comentary towards them in recent years. Just have to be somewhat careful in which ones you pick as with any investment.

Mandy asks…

Are stocks a good way to make money?

Okay, well I am 15 and was planning to buy some cheap stocks and just make a little bit of profit. Well I was going to use ShareBuilder, is ShareBuilder legit and would I make a decent profit on stocks? Thanks, I was planning to just start with a few dollars.

John answers:

Its good your interested at a young age i was in the exact same spot as you… You must read books read every good book on trading/investing you can get. Go to google and type best investment or best trading books thats a good place to start after you read the dummies series on trading/investing. You really shouldnt put any money in until you know what your doing spend that money on books instead its a far more better investment in the long term and since your still young you have plenty of time to play the markets you have to learn first and watch cnbc its a good channel to learn trader talk and get inspired and ofcourse open a virtual account to get some practice. Howthemarketworks is what i used.

Ken asks…

What are some good stocks to buy right now, other to short sell?

One of my classes is running a small economy simulation using real stock prices and I’m wondering what some good stocks to invest in to make some money?
What are some good mutual funds to make money?
Any stocks I should try to short-sell?

If you have any ideas, even if you’re not sure, let me know.
Thanks.

John answers:

Most of these answers are trying to get you to go to their website so THEY can make money, NOT you. However, I will give a real answer:

Sirius XM (SIRI). They are at .89 (closed today). However, the 52 week range is 0.12 – 1.18. I think SIRI has a great potential. I was one of the lucky ones to buy in around 10 cents (.10) per share.

Sandra asks…

For Day Traders: What are some good stocks with high fluxuation that you can make big money on in one day?

Just want to know some stocks that are hot to trade during the trade. I have a few penny stocks: WNDXQ, DPHIQ, SIBX, IGPG. The more people that post answers and stocks the more money we make.

John answers:

Indonesia Fund (IF) has had major intraday gyrations recently but liquidity is bad, at least on odd lots. I had to wait several minutes for a market order to fill a few days ago. I have had better luck buying and selling with limit orders.

Ballard Power (BLDP) volatility has spiked to an extreme this month. FCEL, AMSC, and EMKR can generally be counted on to move somewhere every day–I just wish I could figure out which way. These aren’t penny stocks. The spreads are decent. I don’t trade them enough to comment on liquidity but market orders have always filled right away.

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