Financial Solution News

I had another strong month in April.  I’m still unwinding some of the trouble I got in back in January (and earlier).  Although I’m taking some realized losses for those mistakes occasionally, I’m moving forward which is the entire point.  I stopped letting emotions play a roll in my investing again and accepted some losses on NYX and ADBE to end the month with a higher total account balance. 
I’m still not convinced we won’t have another pull back before we take off again, but hope the Fed has finished with rate cuts for a while.  That can only be the case if they see an improvement in the economy, which apparently they haven’t seen enough of yet.
My Taxable Account Summary for April 2008: 
My current account value according to Ameritrade is $85,140.39 and according to Quicken is $85,388.20.  Here’s how the returns break down:

12 month return: -2.18%
Since my blog’s beginning (4/8/07): -0.01%
I […]

Original post by Alex Fotopoulos

Exclusive: Fed Votes to Cut Rate a Quarter-Point to 2%
The Federal Reserve is Cutting Rates Another 25bp; Fed Says “Substantial” Easing to Date Should Promote Growth, Financial Markets Remain Under “Considerable Stress”; Vote 8-2, With Plosser and Fisher Dissenting; Uncertainity About Inflation “Remains High” and Economic Activity “Remains Weak”

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Original post by Admin

I love the Kioskcom tradeshow every year because I always get to see the next big thing in self service kiosks. This year, there seems to be a big shift from cash payments to credit cards as more and more booths show kiosks with credit card readers instead of cash dispensers. I know many people get in trouble with credit cards but I personally love to use them because of the convenience (the rewards never hurts either).
Check out these pictures I took at the show!

This kiosk from SanDisk lets us download music into our memory cards with a credit card payment module. Simple but cool!

The most common kiosk with a credit card reader is of course an ATM. Notice that this one has a manual insert reader instead of a motorized reader (motorized readers are the ones that automatically pull the card in).

The trend definitely seems […]

Original post by MoneyNing

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Trying to get finance after bankruptcy without preparing yourself it is just like knowingly jumping into a pool that has no water. By applying for a loan after bankruptcy your are risking getting declined and lowering your credit score even more. If you plan to apply for a loan, you need to do some homework beforehand in order to increase your chances of getting approved.
A bankruptcy on your credit report is really a drawback, however, some lenders are willing to approve loans even if you have gone through a bankruptcy as long as it has been discharged and you can prove that you are to be trusted. To prove such a thing you need to make sure that your credit behavior shows no stains for a significant period […]

Original post by admin

Qualifying for a credit card has become increasingly difficult under the dark cloud of the global credit crunch. The lending standards are getting tighter. If earlier credit card holders applied their energy to accumulating cash back or frequent flier miles, now they do their best to improve their credit scores. They understand that positive FICO score is their best guarantee of getting a credit card with beneficial features and terms in future.Just a year ago a customer with FICO score of 680 - 720 would get the best credit card offers with the best interest rates from many lenders. Now, as financial experts say, that bar has been raised to 720 - 750.The days of easy credit have gone. Many lenders are requiring higher scores to grant applicants credit cards. The reasons are obvious: the number of consumer defaults is rising. According to the American Bankers Association, in the last […]

Original post by Everything Finance

Credit Cardholders Are Improving Their Credit Scores
Qualifying for a credit card has become increasingly difficult under the dark cloud of the global credit crunch. The lending standards are getting tighter. If earlier credit card holders applied their energy to accumulating cash back or frequent flier miles, now they do their best to improve their credit scores. They understand that positive FICO score is their best guarantee of getting a credit card with beneficial features and terms in future.
Just a year ago a customer with FICO score of 680 - 720 would get the best credit card offers with the best interest rates from many lenders. Now, as financial experts say, that bar has been raised to 720 - 750.

The days of easy credit have gone. Many lenders are requiring higher scores to grant applicants credit cards. The reasons are obvious: the number of consumer defaults is rising. According to the […]

Original post by Everything Finance

Well, I told the world that I saved $330 by switching to Geico from AAA a few months back. I mentioned in that post that I really liked dealing with the insurance gal that I was dealing with. She has always been very helpful and since we have developed a bit of a relationship it makes it much more enjoyable dealing with her.
Saving another $200 a year on car insurance
She emailed me about a week ago asking me if I would be open to her getting me a new quote with a few other insurance companies. Of course, why not? So, she ran it and she seemed to be very excited to tell me that she could get me the exact same coverage for $200 cheaper per year than Geico.
The new company is America First/Liberty Mutual who coincidentally just recently purchased Safeco. I don’t know much about […]

Original post by bob

So much for sitting on the sideline and watching.  My order for more SFLY naked calls hit this afternoon just before 3:00.  While SFLY was trading around 17.45, my order to sell two SFLY June 17.50 calls (QFYFW).  I received $308.50 after commissions.  I sold these at twice the price of the first four calls I sold, so I received nearly the same cash.  My average cost is $1.02 per option now.  That gives up up to $18.50 per share before I’m sitting on a loss. 
Just three days ago SFLY was trading below 15 which makes me think this run-up before earnings tomorrow is going to turn into a sell-off soon after they announce, unless they destroy expectations.  I’m expecting the old “sell on the news” price action.  Also worth noting is that although SFLY closed at its high of the day, it hit a ceiling that has been rising of it’s […]

Original post by Alex Fotopoulos

So much for sitting on the sideline and watching.  My order for more SFLY naked calls hit this afternoon just before 3:00.  While SFLY was trading around 17.45, my order to sell two SFLY June 17.50 calls (QFYFW).  I received $308.50 after commissions.  I sold these at twice the price of the first four calls I sold, so I received nearly the same cash.  My average cost is $1.02 per option now.  That gives up up to $18.50 per share before I’m sitting on a loss. 
Just three days ago SFLY was trading below 15 which makes me think this run-up before earnings tomorrow is going to turn into a sell-off soon after they announce, unless they destroy expectations.  I’m expecting the old “sell on the news” price action.  Also worth noting is that although SFLY closed at its high of the day, it hit a ceiling that has been rising of it’s […]

Original post by Alex Fotopoulos

I’ve been sitting back for a few days just watching to find my right entry point for my next trades.  I got in too early on SLFY and knew better.  My whole theory was that it would stay between 14 and 17.50 and sure enough after I got in a few days ago it climbed up above 17.  I entered another limit to sell two more June 17.50 puts, but they haven’t hit yet.  I still think it isn’t going too far north.
After profiting on MON earlier this month I’ve been trying to find the right entry point, but wanted it below 115 at a maximum.  I entered trade alerts to text me when it got above 120 and below 115.  The morning after I entered those I saw MON climb above 120 for a few days.  I debated getting in then since I thought it might have legs, but […]

Original post by Alex Fotopoulos