It'll always be around but I give it 5-7 years as the primary delivery source.
As for your rural friends, I can understand why DSL isn't an option. They are probably too far away from the CO. Have they looked into Dish as an option?
A new and improved iPad3 will be out, probably by Spring 2012.
I would think they would want it out for the Christmas season. That is a popular gift item. I am wondering if the next generation will offer 4G with Verizon. Right now the Galaxy 10.1 is the only one available. I am thnking I would like the MacBook with Verizon 4G modem. I don't think I could live without a touch type keyboard.
Last I heard sat service was pretty expensive with dial uplink. You are right on the cable distance being the DSL limiting factor. Our customers in the Arctic complained to the PUC and we were forced to extend digital service via extenders. We did get subsidized as it was for Eskimo villages.
Charlie, I wonder if it is also trade patterns. Apple in June was also lifeluster as it headed through that month, falling to the 320's from it's then high 360's. Then the earnings blew everyone away and the fear of earnings being high started moving the needle up and then it jumped to 404 on the earnings news.
Re Netfkix - whe I say the DVD is the premium product I mean the movies themselves. Netflix can only deliver the latest DVD releases by mail. Tuesdays weekly releases, which are what folks will pay a premium for, aren't available streaming for awhile, after the demand/usage is pretty much exhausted.
Re Netfkix - when i say the DVD is the premium product I mean the movies itself. Netflix can only deliver the latest DVD by mail. Tuesdays weekly releases which are what folks will pay a premium for aren't available streaming for awhile.
That's because Netflix agreed to a 28 day delay in order to have access to greater content from Fox, Universal and WB. That in turn allows the studios to sell a greater number of DVD's. BTW, Vudu streams the same day as the DVD release. I'm guessing they pay a higher fee for the rights.
What it comes down to is $$$$. When the studios can make a similar or greater profit from streaming as from selling DVD's, you'll see streaming the same day.
I would think they would want it out for the Christmas season. That is a popular gift item. I am wondering if the next generation will offer 4G with Verizon. Right now the Galaxy 10.1 is the only one available. I am thnking I would like the MacBook with Verizon 4G modem. I don't think I could live without a touch type keyboard.
I love the little 11" MacBook Air. But, I want to see the next iPad3 before I get one or the other, (if either).
Well, it would be great to see the iPad3 in time for the Christmas season, but it has been continually rumored that it's going to be a Spring 2012 event. But, the recent decline in iPad2 shipments is a very good sign that the iPad3 might just be here in time for Christmas. That would be awesome! As soon as I hear anything, I'll post it here.
I do not have a lot of confidence in Netflix on a long-term basis. I think there are other players in the field that will gobble up Netflix. The share price is down again today.
BTW, I already had previously posted about the Dreamworks deal with Netflix, but your link provides extra details, thanks.
A new and improved iPad3 will be out, probably by Spring 2012.
I would think they would want it out for the Christmas season. That is a popular gift item.
I think Apple wants to stretch out the product releases to ensure something big every 3 months or so. iPhone 5 is supposed to be introduced 10/4 and that will be the big holiday season driver. Besides the iPad 2 has only been out for 6 months or so.
I see iPad 3 coming out in 2nd quarter 2012 as you note for a big earnings push at end of fiscal year.
Charlie, I wonder if it is also trade patterns. Apple in June was also lifeluster as it headed through that month, falling to the 320's from it's then high 360's. Then the earnings blew everyone away and the fear of earnings being high started moving the needle up and then it jumped to 404 on the earnings news.
Undoubtedly, trade patterns has to be a major factor here. I remember your scenario from June very well.
Yes but there were rumors several months ago that the iPad3 was going to be out sometime this fall. That is quite unlikely now.
The sales people at Best Buy seem to think it would be out at Christmas to compete against the new SS Galaxy and Amazon tablet. Both of which they claim raises the bar above the iPad2. I keep wishing something would go bad with my 6 year old Dell laptop. That would make it easier to justify something new.
The sales people at Best Buy seem to think it would be out at Christmas to compete against the new SS Galaxy and Amazon tablet.
I hope the sales people at Best Buy are more knowledgeable the the sales people at the Apple Store about the timing on the release of new Apple products.
I hope the sales people at Best Buy are more knowledgeable the the sales people at the Apple Store about the timing on the release of new Apple products.
There's something funny about that.
But... just maybe the Apple store employees are not so "out of it" afterall... maybe we should give more credit to those "geniuses" at the AAPL stores, as perhaps they are better at confidentiality.
I think the JOBS way was surprise. He loved presenting the latest and greatest. Keep everybody wondering. I think I like the MacBook Air better than the tablets.
I think I like the MacBook Air better than the tablets.
The keyboard is so convenient, and the Mac keyboards have a very nice feel.
The touchscreen is so nice for surfing the web, and for most apps, but the touchscreen keyboard sucks by comparison of a physical / tactile keyboard
If they evolve the MacBook Air to have a touchscreen and a fold-away keyboard (hybrid, as some manufacturers are already introducing), it would be a smashing success, IMO. I would race over to the Apple store and buy it immediately. No hesitation.
That said, I also love the MAcBook Air. But, the next iPad is going to be very good, and the optional keyboard case might make it the better choice. So, I'm going to wait and see.
I think it was your buying and selling huge blocks of AAPL that ran it up and down.
LOL.
No... I didn't mess with AAPL at all. Due to my diligent trading last week, I now own it cheap enough to just hold it and wait. I'm not going to screw with it unless it goes into the 380's.
It was actually AMZN that I was buying and selling in huge blocks today! I took advantage of it's large decline, and now own it at the low... so I'm showing a gain, even though the share price was off 2.45% in a day that most stocks rallied. Due to its large intra-day swings, I was able to flip it several times today... and I picked up several $K in the process. It's not as simple as it sounds, and it doesn't happen all that often... but the stock's behavior was perfect for it, so I took advantage of the opportunity.
I watched closely and saw my 1,000 shares of AMZN go to the moon this morning, as the world awaits the new Kindle Fire (as I think it will be called).
I have seen us go into the fourth day of sizeable gains.
Many of my positions have gained ridiculous percentage gains in a very short time.
I could easily be wrong here, but I think the market may be drunk, and gotten ahead of itself.
After some solid thought about this during pre-market, I decided if the market soared at the open, I would take full advantage of it.
Well... the market soared at the open... so, I sold 95% of all my positions at the market high this morning (including AAPL!), rang the register, and I am now about to relax and catch my breath, and then wait patiently for the next dip... and I will buy again when the market gets hammered again... and I totally believe it will at some point down the road.
These have been incredible gains, and I don't want to get too greedy.
EDIT: The market has already pulled back substantially from this morning's highs, and I predict that I will be glad about my latest decision to sell at the high. We will see, of course.
EDIT 2: The Amazon Kindle Fire tablet looks like a winner, IMO... due to the $199 price... but it's no iPad killer... totally different class of animal, IMO.
Tag, you have definitely tuned into the rhythm of the market in a good way and your MOJO is working. It is good to take a breather now and then, so go out and get your wife something nice !!
Tag, you have definitely tuned into the rhythm of the market in a good way and your MOJO is working. It is good to take a breather now and then, so go out and get your wife something nice !!
Thank you Houdini... honestly, I have worked so hard at this... I have made myself get up at 4 am Pacific time for pre-market trading, and I have stayed in front of the monitor almost the entire session, and I have done this for a number of weeks, with only a few exceptions. I am definitely tired from it, and am going to take a break.
I am not complaining... and I want to tell you and everyone here that I now know if a person is willing to work hard at the stock market, and approach it like a full-time job... it can be very lucrative, but it absolutely requires massive patience, self-control, courage, focus, and diligence... and a deep-down willingness to accept making a mistake, shake it off immediately, and move forward without missing a step. It is not easy to keep those all qualities constantly working at optimum, but if so, the reward is genuine.
Anyway, I hope you are doing OK. From everything I ever read in your posts about your investments, I know that you are a very smart investor/trader. As you know, the market is dangerous at this point in history... and I do not think it will EVER again be like the stock market we used to know. Due to technology, it now has the capability of making very large moves in very short periods of time... much more than at any time in history, and I expect it to get even more dramatic as an increasing number of high speed mobile devices (with trading apps and internet access) find themselves in more and more trader's and investor's hands.
It wasn't that long ago when trading required a phone call and a discussion with a broker. Long-term investing can still be conducted that way, but trading can NOT be done that way, as it is now done at such high speeds it can make a person dizzy.
The good news for me is that the session ends at 1:00 pm Pacific time, and I can enjoy the afternoon (or take a nap... LOL). :shades:
"if a person is willing to work hard at the stock market, and approach it like a full-time job... it can be very lucrative, but it absolutely requires massive patience, self-control, courage, focus, and diligence..."
I watched closely and saw my 1,000 shares of AMZN go to the moon this morning, as the world awaits the new Kindle Fire (as I think it will be called).
They have the Kindle Fire on their website. Pre-order for Nov 15th delivery $199 with free shipping. I ordered one just for the heck of it. I am rarely first in line. I would NEVER wait outside anyplace for anything. This was just one click of the mouse. What the heck. If I don't like it Amazon is great about paying return shipping on anything you buy through them.
But... I am sad to report that even though I had it all nailed beautifully, there is always something that can happen, and here is a sad, sad story...
I attempted to put some bucks into AMZN early this morning, just to test it out. I knew it was a little risky, but I wanted to see if it was going to move up at all, and then I would pull the trigger. I was willing to take the risk. But, somehow I typed the quantity to buy incorrectly because I failed to hit the decimal key hard enough, and didn't realize it. I had to leave the computer for a little to take care of some stuff, and then shortly later I came back to see what had happened. I was in a state of SHOCK! I lost 100 times the amount I would have otherwise lost!!... which would have been pretty bad under any normal condition. Yes... I lost a bloody fortune today, as it totally tanked, and I have no idea how long it might take me to get all that money back. At the time, I did not know what to do, so I sold it and accepted my mistake, for fear (more like panic) that it could get even worse.
You want to talk about crying? One of the worst screw ups of my life.
I am embarrassed to even admit it... but I don't pretend anything around here.
Thanks Keith. I am pretty damned upset about it... still in a state of shock. I feel like an absolute idiot. I can't imagine all the work it's going to take to get that back... if it's even possible. :sick:
I guess I was feeling too good about all my hard work and the success that resulted from it. I have been punished somehow for it.
I appreciate your kind words, but I cannot tell you just how horrible I am feeling. The loss was damned big and I feel devastated about it. I have not stopped shaking for hours, and can't seem to get over it.
I know it shouldn't be bothering me so much, but it is.
Well Tag, you have shook adversity in the past, and I might add----very well---I know there isn`t any thing I can do to right the `ship` but rest assured you will....Sorry....Tony
TM, I feel your pain from a different perspective. As one that has watched and done nothing. I dabbled a little with that Scottrade Etrader and it is so fast it scares me. I can see how it would be easy to make a catastrophic error in a millisecond. My not doing anything over the summer has me down 15%, about $95k on all accounts. At my age I may never recover. It all depends on our country and world economies. So hard to guess what will happen next.
Hope you can sip a scotch and try to put it out of your mind until the morning.
. . .somehow I typed the quantity to buy incorrectly because I failed to hit the decimal key hard enough, and didn't realize it.
Wow -- what a disappointment.
However, being a neophyte (or worse) in this world, I'm wondering why you needed to buy fractions of shares, such that hundredths came into play. Why would a decimal be necessary? If you meant to buy 10 shares, why would it be necessary to enter 10.00?
Maybe that's how the software is set up, which is yet another "issue."
Oh Tag . I just got back to my computer since my last post and I am shocked along with you that this happened to you. But be comforted by the fact that you have bounced back from adversity on many occasions in the past. There is no reason why you will not bounce back again. I have great confidence that you will be making great strides in this market in the next few weeks.
Maybe that's how the software is set up, which is yet another "issue."
Yes, you are right. The software is like that. The quantity field does not recognize or accept a decimal input, but on the other hand does not reject the continuation of input. Had it done so, I would have been OK, but it ignores the entry and the next two digits are accepted.
So, even though my entry should normally be considered an inappropriate entry for that field... unnecessary and not applicable... as you pointed out... the software's acceptance of the extra digits caused me to end up with two extra zeros, and that's the reason I bought 100 times the amount I intended. As an example, instead of 150 shares... 15000 shares.
That said, even though the software leaves a trader vulnerable.
It was my oversight, however, even though I would never have expected such a thing to be able to happen with the software. I'm not going to put any spin on it... I take full responsibility for being a total freakin' moron of epic proportion... a blithering idiot.
I appreciate everyone's encouraging words. You are true friends that I have never met, but I really know you are my friends...
This whole thing has been horrible. I have felt very sick all day, and do not know how long it will last. It just doesn't seem to get better. My heart races now and then, and I feel like throwing up. I hope it is better soon, because it is really bad.
And I guess I might as well let you all know the extent of my screw-up , because I haven't posted it...
I've been following this board for a month or so now - it's very interesting to hear about the trials and tribulations of you folks who are in the market.
I'm terribly sorry to hear about your recent issues.
However, isn't there a silver lining, in that you can write off your losses in your taxes? I know you still have 3 months to recoup those losses before the end of the year, and I have every confidence that you will work your tail off to do just that.
It would be nice if you could write off ALL your losses. That really would have helped me back in 2008. Unfortunately, there is a rather small limit that you can use in any given year.
The positions are held in a tax-deferred retirement trust. There is no tax on gains, as they are applied at withdrawal. Any early withdrawal is subject ot a 10% penalty. And, to answer your question, an account of this type has no deduction for any losses.
The positions are held in a tax-deferred retirement trust. There is no tax on gains, as they are applied at withdrawal. Any early withdrawal is subject ot a 10% penalty. And, to answer your question, an account of this type has no deduction for any losses.
Got it - appreciate the clarification.
I've been around ... watching and learning. As I work for IBM, the talk about them here has been interesting.
Guess nobody does the "buy and hold" thing anymore ... except maybe for Buffett.
Guess nobody does the "buy and hold" thing anymore ... except maybe for Buffett.
I don't think that is necessarily the case. I have owned shares of AAPL for at least 2 years now on my broker account even though I have bought and sold on several occasions on the E-Trade account. I also know that Len (ljflx) has owned AAPL for a long time now. I am holding on to all my shares of AAPL (both places) come hell or high water.
Btw, welcome aboard Michael! Please chime in with your thoughts once in a while.
Btw, welcome aboard Michael! Please chime in with your thoughts once in a while.
I might do that ... I'm not much of an investor as I only have my 401(K) and the wife is part of the state employee pension, but I do see that the topics have meandered from politics to cars (shocker! on a car-based forum no less).
I do post frequently in other forums here at Edmunds, however. Been a member for a long, long time ('96 or '97).
I have owned shares of AAPL for at least 2 years now on my broker account even though I have bought and sold on several occasions on the E-Trade account. I also know that Len (ljflx) has owned AAPL for a long time now. I am holding on to all my shares of AAPL (both places) come hell or high water.
Charlie...
Please give me your opinion here.
I waited patiently today, and I bought 500 shares of AAPL, and now own them at $381.88.
I did this with the intention of doing the unspeakable... HOLDING THEM COME HELL OR HIGHWATER.
So, do you think I should have waited, or does that seem like a pretty good price to you, as it did to me when I bought those shares?
I didn't get much sleep last night, so I am worried that I am not thinking clearly, and that I could have made another blunder on top of yesterday's mess. So, let me know your thoughts.
Len... also give me your thoughts on my purchase of 500 shares of AAPL @ $381.88.
So, do you think I should have waited, or does that seem like a pretty good price to you, as it did to me when I bought those shares?
Tag, I don't think I am saying this because I own AAPL. In other words, (I'm trying to be unbiased). But I believe you made an excellent decision buying in the low $380's. Does anyone here believe that we have seen the highs in AAPL? I very much doubt it. This is the best company in the world right now. Just try and be patient with today's purchase and keep it for a very long time (at least a year). In any case, this is my honest opinion.
Really sorry to hear about your trading mistake. I hate trading anything at the end of a quarter and the indexes have been really juxtaposed to each other for the last few days as positions are adjusted by money managers.
Amazon's Kindle extension tablet looks like a razor-razor blade sales atempt. The Times had a column of what is in the most expensive one vs the iPad and there didn't seem to be much it lacked vs the iPad except for number of apps available, camera and 3,4G. But if that were the case than the Kindle would take over the world. Looks like the iPad will be free to attack corporate America and Amazon and Apple duke it out with the consumers but Amazon seems much more interested in it as a sales vehicle rather than getting into a high tech war with Apple. The latter it could only lose IMO anyway.
Charlie, as for AAPL - I see it running to $550+ in the next year. Hey - what did you think of the Red Sox suicide and Francona's daparture. How their pitching fell apart was incredible and now we have rain really screwing up the Yankee-Tiger series and especially the greatly anticipated Verlander-Sabathia duel. Both looked sharp in the first inning tonight too.
Yes, you are right. The software is like that. The quantity field does not recognize or accept a decimal input, but on the other hand does not reject the continuation of input. Had it done so, I would have been OK, but it ignores the entry and the next two digits are accepted.
Tag,
That is unbelievable. Who would design software that way. You can only end up trading more shares than you want to and if you made a mistake on a sell attempt there'd be a natural check and balance limiting you to what is in your account. Personally I think you need to make a legal check here as I'm sure others have gotten burned in the past. You, and I'm sure others have traded so often on that account that an input mistake was bound to happen and the fault really lies in the programming. It should have a quality control that rejects decimal point entrance and forces you to re-input rather than defaults to ignoring the decimal point.
Comments
As for your rural friends, I can understand why DSL isn't an option. They are probably too far away from the CO. Have they looked into Dish as an option?
I would think they would want it out for the Christmas season. That is a popular gift item. I am wondering if the next generation will offer 4G with Verizon. Right now the Galaxy 10.1 is the only one available. I am thnking I would like the MacBook with Verizon 4G modem. I don't think I could live without a touch type keyboard.
Re Netfkix - whe I say the DVD is the premium product I mean the movies themselves. Netflix can only deliver the latest DVD releases by mail. Tuesdays weekly releases, which are what folks will pay a premium for, aren't available streaming for awhile, after the demand/usage is pretty much exhausted.
That's because Netflix agreed to a 28 day delay in order to have access to greater content from Fox, Universal and WB. That in turn allows the studios to sell a greater number of DVD's. BTW, Vudu streams the same day as the DVD release. I'm guessing they pay a higher fee for the rights.
What it comes down to is $$$$. When the studios can make a similar or greater profit from streaming as from selling DVD's, you'll see streaming the same day.
I love the little 11" MacBook Air. But, I want to see the next iPad3 before I get one or the other, (if either).
Well, it would be great to see the iPad3 in time for the Christmas season, but it has been continually rumored that it's going to be a Spring 2012 event. But, the recent decline in iPad2 shipments is a very good sign that the iPad3 might just be here in time for Christmas. That would be awesome! As soon as I hear anything, I'll post it here.
TM
BTW, I already had previously posted about the Dreamworks deal with Netflix, but your link provides extra details, thanks.
TM
I would think they would want it out for the Christmas season. That is a popular gift item.
I think Apple wants to stretch out the product releases to ensure something big every 3 months or so. iPhone 5 is supposed to be introduced 10/4 and that will be the big holiday season driver. Besides the iPad 2 has only been out for 6 months or so.
I see iPad 3 coming out in 2nd quarter 2012 as you note for a big earnings push at end of fiscal year.
Sorry - must've missed it.
IBM, Intel to Invest $4.4 Billion in New York State Nanotechnology
Nice move in the last 2 days.
Regards,
OW
Yes but there were rumors several months ago that the iPad3 was going to be out sometime this fall. That is quite unlikely now.
That does not bother me. I will just wait a little longer for the iPad3.
Undoubtedly, trade patterns has to be a major factor here. I remember your scenario from June very well.
The sales people at Best Buy seem to think it would be out at Christmas to compete against the new SS Galaxy and Amazon tablet. Both of which they claim raises the bar above the iPad2. I keep wishing something would go bad with my 6 year old Dell laptop. That would make it easier to justify something new.
Christmas would be sweet.
TM
TM
I hope the sales people at Best Buy are more knowledgeable the the sales people at the Apple Store about the timing on the release of new Apple products.
There's something funny about that.
But... just maybe the Apple store employees are not so "out of it" afterall... maybe we should give more credit to those "geniuses" at the AAPL stores, as perhaps they are better at confidentiality.
TM
Interesting.
What will happen when the market declines again?
AAPL shares could go up, since they considered a safe haven. Or they could get dragged down huge.
Whatever we think of the situation, those AAPL shares do seem to be stuck in the mud the last few days.
TM
The keyboard is so convenient, and the Mac keyboards have a very nice feel.
The touchscreen is so nice for surfing the web, and for most apps, but the touchscreen keyboard sucks by comparison of a physical / tactile keyboard
If they evolve the MacBook Air to have a touchscreen and a fold-away keyboard (hybrid, as some manufacturers are already introducing), it would be a smashing success, IMO. I would race over to the Apple store and buy it immediately. No hesitation.
That said, I also love the MAcBook Air. But, the next iPad is going to be very good, and the optional keyboard case might make it the better choice. So, I'm going to wait and see.
TM
LOL.
No... I didn't mess with AAPL at all. Due to my diligent trading last week, I now own it cheap enough to just hold it and wait. I'm not going to screw with it unless it goes into the 380's.
It was actually AMZN that I was buying and selling in huge blocks today! I took advantage of it's large decline, and now own it at the low... so I'm showing a gain, even though the share price was off 2.45% in a day that most stocks rallied. Due to its large intra-day swings, I was able to flip it several times today... and I picked up several $K in the process. It's not as simple as it sounds, and it doesn't happen all that often... but the stock's behavior was perfect for it, so I took advantage of the opportunity.
TM
Just want to check in with all of you.
I watched closely and saw my 1,000 shares of AMZN go to the moon this morning, as the world awaits the new Kindle Fire (as I think it will be called).
I have seen us go into the fourth day of sizeable gains.
Many of my positions have gained ridiculous percentage gains in a very short time.
I could easily be wrong here, but I think the market may be drunk, and gotten ahead of itself.
After some solid thought about this during pre-market, I decided if the market soared at the open, I would take full advantage of it.
Well... the market soared at the open... so, I sold 95% of all my positions at the market high this morning (including AAPL!), rang the register, and I am now about to relax and catch my breath, and then wait patiently for the next dip... and I will buy again when the market gets hammered again... and I totally believe it will at some point down the road.
These have been incredible gains, and I don't want to get too greedy.
EDIT: The market has already pulled back substantially from this morning's highs, and I predict that I will be glad about my latest decision to sell at the high. We will see, of course.
EDIT 2: The Amazon Kindle Fire tablet looks like a winner, IMO... due to the $199 price... but it's no iPad killer... totally different class of animal, IMO.
TM
2013 LX 570 2016 LS 460
Thank you Houdini... honestly, I have worked so hard at this... I have made myself get up at 4 am Pacific time for pre-market trading, and I have stayed in front of the monitor almost the entire session, and I have done this for a number of weeks, with only a few exceptions. I am definitely tired from it, and am going to take a break.
I am not complaining... and I want to tell you and everyone here that I now know if a person is willing to work hard at the stock market, and approach it like a full-time job... it can be very lucrative, but it absolutely requires massive patience, self-control, courage, focus, and diligence... and a deep-down willingness to accept making a mistake, shake it off immediately, and move forward without missing a step. It is not easy to keep those all qualities constantly working at optimum, but if so, the reward is genuine.
Anyway, I hope you are doing OK. From everything I ever read in your posts about your investments, I know that you are a very smart investor/trader. As you know, the market is dangerous at this point in history... and I do not think it will EVER again be like the stock market we used to know. Due to technology, it now has the capability of making very large moves in very short periods of time... much more than at any time in history, and I expect it to get even more dramatic as an increasing number of high speed mobile devices (with trading apps and internet access) find themselves in more and more trader's and investor's hands.
It wasn't that long ago when trading required a phone call and a discussion with a broker. Long-term investing can still be conducted that way, but trading can NOT be done that way, as it is now done at such high speeds it can make a person dizzy.
The good news for me is that the session ends at 1:00 pm Pacific time, and I can enjoy the afternoon (or take a nap... LOL). :shades:
TM
You forgot to mention HUGE brass ones...
They have the Kindle Fire on their website. Pre-order for Nov 15th delivery $199 with free shipping. I ordered one just for the heck of it. I am rarely first in line. I would NEVER wait outside anyplace for anything. This was just one click of the mouse. What the heck. If I don't like it Amazon is great about paying return shipping on anything you buy through them.
Your timing on buying and selling has been incredible. Nice job! Meanwhile, I watch and cry on a day like today
But... I am sad to report that even though I had it all nailed beautifully, there is always something that can happen, and here is a sad, sad story...
I attempted to put some bucks into AMZN early this morning, just to test it out. I knew it was a little risky, but I wanted to see if it was going to move up at all, and then I would pull the trigger. I was willing to take the risk. But, somehow I typed the quantity to buy incorrectly because I failed to hit the decimal key hard enough, and didn't realize it. I had to leave the computer for a little to take care of some stuff, and then shortly later I came back to see what had happened. I was in a state of SHOCK! I lost 100 times the amount I would have otherwise lost!!... which would have been pretty bad under any normal condition. Yes... I lost a bloody fortune today, as it totally tanked, and I have no idea how long it might take me to get all that money back. At the time, I did not know what to do, so I sold it and accepted my mistake, for fear (more like panic) that it could get even worse.
You want to talk about crying? One of the worst screw ups of my life.
I am embarrassed to even admit it... but I don't pretend anything around here.
I feel sicker than you can imagine.
:sick:
TM
2014 Malibu 2LT, 2015 Cruze 2LT,
TM
In this old world things have a way of evening up, so you have some good luck on the way. Bank on it.
2013 LX 570 2016 LS 460
I appreciate your kind words, but I cannot tell you just how horrible I am feeling. The loss was damned big and I feel devastated about it. I have not stopped shaking for hours, and can't seem to get over it.
I know it shouldn't be bothering me so much, but it is.
TM
Hope you can sip a scotch and try to put it out of your mind until the morning.
Wow -- what a disappointment.
However, being a neophyte (or worse) in this world, I'm wondering why you needed to buy fractions of shares, such that hundredths came into play. Why would a decimal be necessary? If you meant to buy 10 shares, why would it be necessary to enter 10.00?
Maybe that's how the software is set up, which is yet another "issue."
Yes, you are right. The software is like that. The quantity field does not recognize or accept a decimal input, but on the other hand does not reject the continuation of input. Had it done so, I would have been OK, but it ignores the entry and the next two digits are accepted.
So, even though my entry should normally be considered an inappropriate entry for that field... unnecessary and not applicable... as you pointed out... the software's acceptance of the extra digits caused me to end up with two extra zeros, and that's the reason I bought 100 times the amount I intended. As an example, instead of 150 shares... 15000 shares.
That said, even though the software leaves a trader vulnerable.
It was my oversight, however, even though I would never have expected such a thing to be able to happen with the software. I'm not going to put any spin on it... I take full responsibility for being a total freakin' moron of epic proportion... a blithering idiot.
TM
Thanks to every one of you.
I appreciate everyone's encouraging words. You are true friends that I have never met, but I really know you are my friends...
This whole thing has been horrible. I have felt very sick all day, and do not know how long it will last. It just doesn't seem to get better. My heart races now and then, and I feel like throwing up. I hope it is better soon, because it is really bad.
And I guess I might as well let you all know the extent of my screw-up , because I haven't posted it...
It was into 6-digit territory... enough said?
TM
I've been following this board for a month or so now - it's very interesting to hear about the trials and tribulations of you folks who are in the market.
I'm terribly sorry to hear about your recent issues.
However, isn't there a silver lining, in that you can write off your losses in your taxes? I know you still have 3 months to recoup those losses before the end of the year, and I have every confidence that you will work your tail off to do just that.
So, buck up and get back to work!
2013 LX 570 2016 LS 460
Nice to meet you. And thank you for your post.
The positions are held in a tax-deferred retirement trust. There is no tax on gains, as they are applied at withdrawal. Any early withdrawal is subject ot a 10% penalty. And, to answer your question, an account of this type has no deduction for any losses.
Stop by again now and then.
TM
Got it - appreciate the clarification.
I've been around ... watching and learning. As I work for IBM, the talk about them here has been interesting.
Guess nobody does the "buy and hold" thing anymore ... except maybe for Buffett.
I don't think that is necessarily the case. I have owned shares of AAPL for at least 2 years now on my broker account even though I have bought and sold on several occasions on the E-Trade account. I also know that Len (ljflx) has owned AAPL for a long time now. I am holding on to all my shares of AAPL (both places) come hell or high water.
Btw, welcome aboard Michael! Please chime in with your thoughts once in a while.
I might do that ... I'm not much of an investor as I only have my 401(K) and the wife is part of the state employee pension, but I do see that the topics have meandered from politics to cars (shocker! on a car-based forum no less).
I do post frequently in other forums here at Edmunds, however. Been a member for a long, long time ('96 or '97).
Charlie...
Please give me your opinion here.
I waited patiently today, and I bought 500 shares of AAPL, and now own them at $381.88.
I did this with the intention of doing the unspeakable... HOLDING THEM COME HELL OR HIGHWATER.
So, do you think I should have waited, or does that seem like a pretty good price to you, as it did to me when I bought those shares?
I didn't get much sleep last night, so I am worried that I am not thinking clearly, and that I could have made another blunder on top of yesterday's mess. So, let me know your thoughts.
Len... also give me your thoughts on my purchase of 500 shares of AAPL @ $381.88.
TM
Tag, I don't think I am saying this because I own AAPL. In other words, (I'm trying to be unbiased). But I believe you made an excellent decision buying in the low $380's. Does anyone here believe that we have seen the highs in AAPL? I very much doubt it. This is the best company in the world right now. Just try and be patient with today's purchase and keep it for a very long time (at least a year). In any case, this is my honest opinion.
Really sorry to hear about your trading mistake. I hate trading anything at the end of a quarter and the indexes have been really juxtaposed to each other for the last few days as positions are adjusted by money managers.
Amazon's Kindle extension tablet looks like a razor-razor blade sales atempt. The Times had a column of what is in the most expensive one vs the iPad and there didn't seem to be much it lacked vs the iPad except for number of apps available, camera and 3,4G. But if that were the case than the Kindle would take over the world. Looks like the iPad will be free to attack corporate America and Amazon and Apple duke it out with the consumers but Amazon seems much more interested in it as a sales vehicle rather than getting into a high tech war with Apple. The latter it could only lose IMO anyway.
Charlie, as for AAPL - I see it running to $550+ in the next year. Hey - what did you think of the Red Sox suicide and Francona's daparture. How their pitching fell apart was incredible and now we have rain really screwing up the Yankee-Tiger series and especially the greatly anticipated Verlander-Sabathia duel. Both looked sharp in the first inning tonight too.
Tag,
That is unbelievable. Who would design software that way. You can only end up trading more shares than you want to and if you made a mistake on a sell attempt there'd be a natural check and balance limiting you to what is in your account. Personally I think you need to make a legal check here as I'm sure others have gotten burned in the past. You, and I'm sure others have traded so often on that account that an input mistake was bound to happen and the fault really lies in the programming. It should have a quality control that rejects decimal point entrance and forces you to re-input rather than defaults to ignoring the decimal point.