I did it. Like the E*Trade commercial, I bought my first stock online.
Sure, my favorite E*Trade commercial is this one,
... and I didn't even buy from E*Trade (I used Scottrade, at $7 per online trade with four brokers at its local, Portland office.)
But the message is the same: I'm not depressed by the National Bureau of Economic Research's profession that we are indeed in a "Recession." Indeed, this proclamation is refreshing.
It means that the shoppers and investors who are ready now will come out ahead in 
the long run. Now is the time for some of the best buys on Wall Street, like the $35 stock I scored for $2.80. Now is the time for some of the best deals on Main Street, from technology upgrades that can generate business revenue (like photography and computer equipment) to real property like the $1 properties on Detroit's Multiple Listing Services' database (open to service-industry workers working with HUD-certified real estate agents).
I know I'm being optimistic here. Certainly I understand that I could lose everything I just put into that newly acquired stock. But meanwhile, it feels good to let history do the talking. Those that were able to mobilize during the Great Depression, who had a little money they regularly tucked away and used that money to diversify, not only survived but thrived.
How about you? What's your silver lining in this now-termed Recession?
 |  |  | ||
| Jennifer D. Meacham, Gather Money Correspondent | ||||
Jennifer's column, "The Bottom Line," is published every week to the Gather Essentials: Money channel. Jennifer is a business and personal finance columnist who regularly covers money matters for RedwoodAge.com, online selling/marketing strategies for Practical Ecommerce magazine, and self-directed real estate investing for RIS Media. She co-authored the best-selling retirement investing guide "IRA Wealth: Revolutionary IRA Strategies for Real Estate Investment" (Square One Publishers, New York). Keep up on the latest news and analysis into how you can take control of your business and personal financial future by joining Jennifer's "Self-Directed Investing 101" network. | ||||
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Comments: 35
Research is the key. If you hear of a company or stock or industry that is supposed to do well in this new economy, just start following the news on it -- and putting a bit of money aside for the day when you're ready. You'll know when you're ready to buy. With Scottrade, it takes three days after depositing money into the account before you can purchase stocks valued at less than $4 each, so account that into your plan. It took another three days before that to make the transfer from my online checking account to the Scottrade account.
Please keep us posted on how you do with your stock purchase.
Exactly Trish! I'm starting my online trading with 100 so-called "penny stocks" at around $3 a piece. That's a mere $300 investment, moved from my savings. I'm up $7 today, but it's not the gains or the losses that's the issue here. It's the fact that I'm taking some charge of a small amount of "disposable" money in a way that excites me and at a time when there are deals to be had.
Me too Mary M. That's why I just had to include the baby one here!
Thank you donna h. Me too. ; )
C C., the stock market rebounded a little today on the news that it has hit its lowest point. Or so one person says....
Welcome to the wonderful world of bear market trading!
Its never boring. Pick your entry points, honor your stops, and may the trend be with you.
I'm glad to be here Pat. ; ) Great advice, as usual!!!
And thank you Leah for your nice vote of confidence.
I don't like to trade stock that are in the news, so its not even on my watch list.
Hartford was up 100% today. That was a $7 gain. I didn't have any. It looks like the financials are starting to be traded on value rather than fear, which is a good sign.
I made a bit trading SSO and SDS today.
Nice job on the SSO and SDS pick-ups Pat. Way to bear this market!
I've known the feeling Heather....
Thanks for commenting Beth.
Lots of great information here!
Too funny. Probably a standard line, but definitely a chuckler with the $1 price tag.
P.S. Here's a "study guide" from the Smart Investors series on how to start an investment group: Guidelines for Your Women’s Investment Study Group. Hope this helps!