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Author Topic: I'm starting to invest and entering the stock market...  (Read 1556 times)
Scott Inman (D) OK Gov 2018
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« on: January 17, 2009, 12:38:19 pm »

As of Sunday, February 1, 2009, I will officially dive into the stock market and a few ther types of investments and securities.

The Stock Market is in the crapper now, but that makes it a great time to hop into it.  As the advice goes, buy low and sell high.

This economy will eventually turn around, hopefully under this president and soon.

I'm also getting my 401(k) started with a full 6% matching from my employer.
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Reaganfan
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« Reply #1 on: January 17, 2009, 12:38:46 pm »

Good luck!
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Make Politics Boring Again
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« Reply #2 on: January 17, 2009, 02:10:11 pm »

Just make sure you don't buy low and sell lower.
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Psychic Octopus
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« Reply #3 on: January 17, 2009, 02:16:37 pm »

2009 has the possibilty to be one of the best bargains ever. actually
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People's Speaker North Carolina Yankee
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« Reply #4 on: January 17, 2009, 04:49:01 pm »

Good going. The economy will indeed turn around hopefully by the end of this year. But inflation will be a concern going forward so try to invest in some inflation proof things like commodities or currency exchanges(Aussie-US is the best right now). That way you can profit from the inflation.
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Fmr. Pres. Duke
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« Reply #5 on: January 17, 2009, 05:07:16 pm »

Hopefully whatever you buy will increase by years end. I still think we'll test 7500 before we really turn around and begin a nice bull run. After losing 40% off my personal portfolio this past year, I've dump some risky stocks and invested in others that pay out a nice dividend until I see the market make a recovery.
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AndrewTX
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« Reply #6 on: January 17, 2009, 09:42:46 pm »

Best of luck,  as previously stated dont get too addicted. I lost a TON of money in the stock market, as well as my 401k. I didnt take anything out, so I'm just hoping for a rebound and make it back.
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Scott Inman (D) OK Gov 2018
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« Reply #7 on: January 17, 2009, 11:51:15 pm »

I'm signing up for ONEOK's (my company's umbrella company) Employee Stock Purchase Program (ESPP) this coming Wednesday, January 21.  At the close of business on Friday, January 16, 2009, the ONEOK stock (a Nasdaq stock, ticker: OKE), closed at $28.57 up 0.36 or 1.28%.  I will be able to purchase it at 85% of that per share.  That comes out to about a little shy of $25 a share.  I'll put down about $8.00 a paycheck, which means I'll purchase a complete share every 3 paychecks (1.5 months).  This will be retroactive to January 1, and will come out double on my January 31 paycheck to make up for January 15.  So, I'll have my first complete share by my February 15 paycheck.

So, I'm officially hopping on board the roller coaster that is the stock market.
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HappyWarrior
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« Reply #8 on: January 18, 2009, 12:06:40 am »

Invest in plumbing, that'll be making more money as people s**t their pants as the economy continues to fall apart.
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Sam Spade
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« Reply #9 on: January 18, 2009, 01:09:31 am »

I assume that, because it's a 401k, you have limited freedom as to your investment choices.  If so, it's your choice as to the amount you invest in your companies' stock and such.  Obviously, being able to buy at 85% of price is better than buying at 100% of price.  Also, remember there is no guarantee that the government is not going to one day confiscate your 401k to maintain certain other funding, but I digress...

If you do have freedom to invest outside the stock market, I would say this.  As being the official economic pessimist on the forum (it seems like), I think the stock market has the potential to make a positive correction (technically they're called bear market rallies) above the January 2 level sometime in the next three to six months.  After that point, I would be completely gone from the stock market for at least another year, maybe two, probably not longer, but who knows.  If you think this is ugly...

I say this as the casual investor, which presumably is what you are, who's not going to pay enough attention to play day-trader.
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Sam Spade
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« Reply #10 on: January 18, 2009, 01:10:17 am »

Invest in plumbing, that'll be making more money as people s**t their pants as the economy continues to fall apart.

lol...  Plumbing is a smart profession to go into, especially now, imho.
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HappyWarrior
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« Reply #11 on: January 18, 2009, 09:30:58 am »

Invest in plumbing, that'll be making more money as people s**t their pants as the economy continues to fall apart.

lol...  Plumbing is a smart profession to go into, especially now, imho.

Its basically recession-proof.  You may skip on getting that new car but when your toilet breaks guarenteed you'll call a plumber.
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« Reply #12 on: January 18, 2009, 09:58:59 am »

People fix their own toilets when they're really broke, or shใt under the overpass if they've lost access to a toilet.  Forget access to health care.

But I thought BushOklahoma was that fat broke guy?  Who am I thinking of here?
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« Reply #13 on: January 18, 2009, 10:42:39 am »

Buy an index fund, and don't touch it until you retire.
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Franzl
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« Reply #14 on: January 18, 2009, 11:05:13 am »

Invest in plumbing, that'll be making more money as people s**t their pants as the economy continues to fall apart.

lol...  Plumbing is a smart profession to go into, especially now, imho.

Its basically recession-proof.  You may skip on getting that new car but when your toilet breaks guarenteed you'll call a plumber.

Joe The Plumber will be happy about that.
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