Financial Solution News

I entered a few orders over the weekend with the idea that they might trickle in during the week while I stay focused on my new job. Instead, two of them hit in the first half hour of the trading day which caused me to get email alerts to my phone. That meant I “had to” go and check on what I sold and where the underlying stocks were trading so early to have my limit orders hit.  After all, I thought I had placed the orders fairly far off the current trading prices.
The first trade came when UCO (ProShares Ultra DJ-UBS Crude Oil) was trading at $11.75 right at the open.  I sold to open two UCO September 12 naked puts (UCOUE) at $0.90 each and I received $168.50 after commissions. My limit order was set to sell at $0.80, so at least I got in better than I was trying for even [...]

Original post by Alex Fotopoulos

I charted the Dow Jones Industrial Average ($DJI) after the markets closed on Friday August 28, 2009 when the DJIA closed at 9,544.20.

After eight straight days of gains for the DJIA it finally gave up the fight for a day and closed lower on Friday.  Based on the trend line of higher highs it’s been hitting for the past few months, lower or sideways were the only directions left for the index to move after it hit a new high for the year Friday morning. I’m expecting that same trend line of higher highs to remain as tough resistance and think we’re due for at least a minor correction. 
A full 10% correction from the Friday’s intraday highs of 9,630.20 would move the DJIA down to 8,667.  That would sync up fairly closely with the lower trend line I drew of higher lows if it happens in the next couple of weeks.  A 5% correction [...]

Original post by Alex Fotopoulos

Prepaid debit cards are similar to credit cards, but they require upfront collateral (cash) before you can use them. There are actually several benefits that come with using prepaid debit cards versus a traditional credit card.
1. Perfect for College Students
One of the easiest and most convenient ways to provide money for a student is with a prepaid debit card. You can set monthly limits that get reloaded at the end of the month, helping the student operate within the budget you specify.

2. Safer Than Carrying Cash
Like credit cards, if your prepaid debit card is stolen, you are protected. If someone takes your cash, you are not!
3. Helps You Better Manage Your Budget
Since a prepaid debit card isn’t a credit card, it won’t allow you to make purchases on credit. Thus forcing you to stay within your set budget.
4. No [...]

Original post by noreply@blogger.com (Everything Finance)

Today I would like inform you about a new website called “The Savings Experiment”. It is a part of AOL News and their main sponsor is Bank of America.
The Savings Experiment website features a weekly video that examines a common money-saving idea and determines whether the benefits are really there.
The Savings Experiment came about as a way to show consumers what things really cost, and where the real value is.
The first two videos debunked whether or not you can save money by making your own “fast food” tacos yourself (result: yes, sort of, but you’d end up making a whole batch of tacos vs. just making one), and whether homemade soda really makes good financial sense (result: it’s more trouble to make your own, but certainly cost-effective and more environmentally friendly).

The Savings Experiment is running 10 experiments to see what things really cost, and where the real value [...]

Original post by noreply@blogger.com (Everything Finance)

So you decided to take the leap and buy the split-level house you always wanted? That’s great. If you can put down a big chunk (20% plus), even better. You’ll lower your interest rate and monthly payments and be that much closer to owning your home sooner. But what if you don’t have the big down payment? Paying points is another way to potentially save.
Let’s talk points:
* What is a “Point”? A point (as in 1 percentage “point”) is payment made on the interest of the total loan at closing and typically paid upfront by the buyer (sometimes the seller). So, 1% of $100,000 = $1,000. With us so far?
* When to pay them. Generally, points can lower the interest rate on your loan and save you some dough if you’re planning to live in the house for 10 or 20 years. Less than 5 years? [...]

Original post by noreply@blogger.com (Everything Finance)

How to find the right broker for you? Let’s rule out the dartboard, first off. We can narrow your search to just 6 tasks that will help evaluate your needs – and decide which broker fits best.
* Evaluate your needs

Investing experience – Beginner, pro, or in-between? The answer tells you whether you’ll need educational support (most beginners do) or more complex tools or trading choices (some pros do).
Amount to invest – Starting with $100 or $10,000? Do you plan to continue investing regularly, or invest lump sums when you have them? These answers indicate whether you’ll eliminate some brokers for investment minimums.
Investing strategy – Watch the market closely and immediately jump on opportunities? Or invest slowly and steadily over time? [...]

Original post by noreply@blogger.com (Everything Finance)