Midastrade.com (MIDS)
I told you yesterday that I will be seeing my surgeon (she operated on me) today for a check up. Well, let's just say that my behind got a major lube job today. Basically I need to go for additional tests to make sure everything is alright (such as CT scans and colonoscopy etc.). I guess more tests will be good for me. I'll just have to bend over...take it like a man...
First, my order was excuted this morning per my last note. OIH was sold at $141.31/share. Up +8.3% in three (3) days (100 shares x $11 gain = $1,100.00). OIH was as high as $144.45 today. Well, my rule is simple. If you can make $1,000.00 in a few days, take it.
Simple rule indeed.
And don't worry, I will revisit OIH again. I love OIH.
Second, XM radio (XMSR) will be reporting earnings tomorrow at 10am. You will see some action. I expect the earnings to be disappointing for wall street guys. But since the expectation is low already, anything can happen. If the earnings per share comes any better than -$0.66/share and revenue at $221 million or better, the stock will jump. Otherwise it may fall. If XMSR falls significantly from here ($10.36 now) I am buying. Let's watch.
Third, I just placed a limit order to buy MidasTrade.com (MIDS) at $1.51 or better. It closed today at $1.60/share. I will be writing about this one tomorrow. For now, just know that MIDS will link (direct trade of stocks, futures and options) the United States and Korea. I personally think this is big news. However, no one knows it yet. The average volume in the last 90 days is less than 10,000 shares per day. I am willing to bet that soon this volume will surge. I am going to slowly work myself in (my order was for 4,000 shares at $1.51). If price falls, I will add more. If it goes above $2.00 then I am buying my full lot. Go visit their website and do your own research as well. Just know this, Koreans do not pay taxes on stock gains!
And they trade like there's no tomorrow : )
P.S: Did you know that Korea ranks #1 in the world in terms of broadband internet access?
First, my order was excuted this morning per my last note. OIH was sold at $141.31/share. Up +8.3% in three (3) days (100 shares x $11 gain = $1,100.00). OIH was as high as $144.45 today. Well, my rule is simple. If you can make $1,000.00 in a few days, take it.
Simple rule indeed.
And don't worry, I will revisit OIH again. I love OIH.
Second, XM radio (XMSR) will be reporting earnings tomorrow at 10am. You will see some action. I expect the earnings to be disappointing for wall street guys. But since the expectation is low already, anything can happen. If the earnings per share comes any better than -$0.66/share and revenue at $221 million or better, the stock will jump. Otherwise it may fall. If XMSR falls significantly from here ($10.36 now) I am buying. Let's watch.
Third, I just placed a limit order to buy MidasTrade.com (MIDS) at $1.51 or better. It closed today at $1.60/share. I will be writing about this one tomorrow. For now, just know that MIDS will link (direct trade of stocks, futures and options) the United States and Korea. I personally think this is big news. However, no one knows it yet. The average volume in the last 90 days is less than 10,000 shares per day. I am willing to bet that soon this volume will surge. I am going to slowly work myself in (my order was for 4,000 shares at $1.51). If price falls, I will add more. If it goes above $2.00 then I am buying my full lot. Go visit their website and do your own research as well. Just know this, Koreans do not pay taxes on stock gains!
And they trade like there's no tomorrow : )
P.S: Did you know that Korea ranks #1 in the world in terms of broadband internet access?
posted by Jaewoo | 11:16 PM
3 Comments:
MIDS, very interesting!
now, a starter question: what are the choices for a korean to trade US stocks in Korea? Why couldn't one use E*Trade (for example, as it has a korean site) in Korea?
if that is the case, it is very simple - basically same E-Trade system. Why Midstrade.com?
ok. I think I know some answers.
Midstrade provides the trading / quoting services to local securities firm that is not member of NASD, and in the meantime, providing clearing and settlement services to them via KSD.
so if a foreign brokerage firm (i.e. Fidelity, Scottrade) is allowed to operate (trade US stocks) in Korea, they are indirect competitors.
Siyu:
You're right!
More importantly, when I saw the advisors to the firm, I just know that someone knew what they were doing (i.e. Mr.Lee the CEO).
The members include basically all the top guys in the security business in Korea. I feel that these guys are not going to associate themselves with an average company. As I said, something is cooking and no one knows yet!!!!
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