Financial Solution News

I’ve been debating my next move on AA since I wrote about it a couple of days ago here. I decided to wait to see how the markets reacted to whatever the Fed did today.  AA was down and up and down and up.  I happened to exit my Feb 27.50 calls (AABY) while it was on an upward swing and while AA was trading at 33.02 I bought back my calls for 5.70 a piece, which was about 20 cents of time value remaining. AABY’s last trade of the day was at 5.30.  AA closed the day at 32.70.  I traded poorly, but was in the mindset that the masses decided stocks should rise after the cut and I cut my losses.  I still have my two sets of four puts at Feb 30 and 32.50. 
I paid $2,292.99 with commissions after selling them for $866.99.  That’s a loss of $1,426 that […]

Original post by Alex Fotopoulos

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 3 percent.
Financial markets remain under considerable stress, and credit has tightened further for some businesses and households.  Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets.
The Committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully.
Today’s policy action, combined with those taken earlier, should help to promote moderate growth over time and to mitigate the risks to economic activity.  However, downside risks to growth remain.  The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald […]

Original post by Admin

Think you know everything about 401k and IRAs? I invite you to take the Kiplinger’s Retirement Quiz! After each question, it will instantly tell you whether you got the question right or wrong and then give some information related to the topic.
What I want to talk about though is actually the statistics that it showed after I took the quiz. Take a look at this:

The quiz consisted of a total of 10 questions about varies aspects of 401k and IRAs. As you can see, two-thirds (67%) of 14000+ participants answered less than 8 out of 10 questions correct. This means that many people couldn’t fully take advantage of the 401k and IRAs even if they wanted to because chances are people don’t know the complete picture of these plans.
Based on these results, it shows that everyone should learn more about 401ks, IRAs and retirement plans […]

Original post by MoneyNing

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When you receive two credit card offers in the mail do you simply assume that they are exactly the same, neither one offering anything more or less than the other? If this is what you assume you are likely paying too much interest on any credit cards that you have and you may also not be taking advantage of all of the features that are available to consumers through their credit card companies.
Why You Should Compare Credit Cards
Consumers should not assume that all credit cards are created equal. It doesn’t matter how good or bad your credit is or what you do with your credit card, there is one credit card out there that is better than all of the others for you. […]

Original post by admin

If you have not heard, the House approved Bush's stimulus package. So, we just need to wait for the Senate to approve the bill and then the Government will say "your check is in the mail." The are saying couples could get as much as a $1200 in the form of a rebate check. The intention, of course is that everyone will go out and spend it, thus boosting our economy and help eliminate that nasty "R" word (recession).
This is the news clip, if you want a bit more detail… 
The U.S. House approved a $146 billion economic stimulus plan aimed at averting an election-year recession in part by sending tax-rebate checks to about 111 million Americans. Lawmakers voted to approve legislation that would also expand investment tax breaks for business and add capital to the slumping mortgage market by allowing federally chartered […]

Original post by bob

I had another good day today (up $1200+) as the time value on my 20 options erodes running up to the February expiration.  With stocks rebounding still I’ve also gained on intrinsic value going my way finally. 
AA is getting tricky again and I might have to exit part f it tomorrow, unless I decide to sell another put to get me in deeper (not likely).
I decided to take a loss on part of my MRO options today too.  Luckily I’m long 200 shares still as MRO has risen nearly $9 from its low on January 23rd, just five days ago. I took the risk that day and sold extra calls on my shares - It was on the capitulation day which I should have known better than to give in that day, but now it’s done.
While MRO was trading at $51.89 this afternoon, I sucked it up and took a […]

Original post by Alex Fotopoulos

With so many news articles about subprime loan and people being suckered into low teaser rates that ultimately reset, one would think that there wouldn’t be many ads about mortgage products that shouldn’t be sold to the general public in the first place. Today however, I got an ad from ING Direct advertising their low Adjustable Rate Mortgage (ARM) rate!!!
I was quite disturbed by this ad because it was these same products that got the united states into the whole housing mess in the first place. Sure, ARM is a great choice for mortgage for a small minority of people. However, no where in the ad do I see that this type of mortgage might not be for everyone. All I see is:
During the initial 5-year fixed rate period, you can save more than $8,200 in interest compared to a 30-year fixed rate mortgage. (Interest savings […]

Original post by MoneyNing

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How long is the grace period?
The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have “25 days from the statement date, provided you paid your previous balance in full by the due date.” The statement date is given on the bill.
The grace period usually applies only to new purchases. Most credit cards do not give a grace period for cash advances and balance transfers. Instead, interest charges start right away.
If you carried over any part of your balance from the preceding month, you may not have a grace period for new purchases. Instead, you may be charged interest as soon as […]

Original post by admin

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Chances are you’ve gotten your share of “pre-approved” credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept “before the offer expires.” Before you accept, shop around to get the best deal.
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it’s wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you’re shopping for a card.
Annual […]

Original post by admin

Everyone must be confused with the title because we don’t usually see slacking off and motivation in the same sentence.  Let’s face it, everyone slacks off.  This is a given.  In fact, my boss told me that he slacks off once in a while too.  He mentions solitaire as his favorite computer game to kill time.
So if my boss (an ultra motivated entrepreneur who’s built a company that employs 150 people from nothing) slacks off, it’s safe to say that pretty much everyone slacks off too.  The point of this post is not to say that slacking off is good.  Actually, slacking off obviously detracts us from the job at hand.  However, I just want to point out that it is normal for us to have the urge to take a break.  The difference between my boss and the rest of us is probably in the frequency that this happens […]

Original post by MoneyNing