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Old 10-21-2002, 05:05 PM
NurseCarmen NurseCarmen is offline
Join Date: Mar 2002
Location: The Zen Arcade
Posts: 8,292
How do I throw away money (Stock Market)

When I bought my house, I was required to put a chunk of money in for some reason (I think it was the PMI). My house has nearly tripled in value since then, so I rid myself of that pesky PMI with an appraisal that showed the increase.

So now I find myself with $1500 sitting in a money market account making 2 percent.

I have watched 2 specific stocks for several years now (A buddy worked at one company, my sister the other). I had no real vested interest other than hoping they did well. Now that both are skipping along, down low one week, doubling the next, both with high volumes, I think to myself, well self, wanna jump in?

I'm serious, I'm willing to piss this money away. I don't think I will since my knowledge of the companies shows them both as stable, and both are beginning to hire again, so one would assume that as a good sign. Is it possible to start small, say 500? I see that etrade and ameritrade require at least 1k. Is this as simple as I think for what I want to do? Just open an account, buy low, and sell high? 15 bucks per trade is something to consider, and then taxes. What would a profit be taxed at? I have seen both of these stocks double, then deflate, about 5 times this year. I could have made some profit. But I don't have a clue.

So I'm saying this: I want to gamble with some money. How do I do it, and what other things besides the stock delisting/crashing/bankrupt do I have to worry about? If I buy 1k of shares at $1, and it goes up to $2, how much will I have actually made?


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