I was checking my email just now and approved a pingback on my post regarding the basics behind Exchange Traded Funds (ETFs). Well, it seems that the person I answered the question for, a blogging colleague of mine known as Clever Dude has successfully made his first ever trade online! The funny part is, he typed in the wrong symbol, whoops!
"So I pop over to eTrade where I have my Roth IRA. Mind you, IÃ¢â‚¬â„¢ve
only ever purchased mutual funds, so I donÃ¢â‚¬â„¢t know the Ã¢â‚¬Å“ins-and-outsÃ¢â‚¬Â of
buying stocks. I went through the interface and plugged in the ticker
symbol. I bought 80 shares at $17.97 each (with a stinkin $12.99
But I bought 80 shares of PWB, not PBW!!!
I wondered why the stock was $3 lower than when I looked yesterday,
but I figured now was just the time to buy, so I did. I got 80 shares
of PowerShares Dynamic Lg.Cap Growth ETF instead."
Regardless of the mistake (we've all done it at least once right?) I dedicate my next "cold one" which will come tomorrow night at a poker and bonfire party I am hosting to Clever Dude for his success. Nice work CD, next time just double check that ticker before placing the trade online . Cheers.