Wednesday, November 28, 2007

Having a Second Job without Working

What would you say if you were able to make a few extra bucks two or three times a week on top of your regular job without working?

If you're like me, you'd probably ask where you can sign up!

Well, with the recent major swings in the market I think it would be possible to accomplish such a feat fairly easily by taking short-term positions (ie. daily, overnight) on stocks that are experiencing a fair amount of volatility lately.

Now, I'm not talking about investing in a highly speculative stock that will cause you to lose sleep over or an illiquid, cow-pasture stock that you'll have to convince your neighbour is the next big diamond mine just so you can sell your stake... I'm talking more about the big boys. You know the ones: The guys on the main index with all those shares freely flowing from one hand to the next with recognizable names that just happen to be the ones you wouldn't mind owning for the long-term in the event things don't go quite according to plan.

Surely, you would have to take commissions into consideration with such a strategy but wouldn't it be nice to make an extra 100 bucks a day or so by just buying and selling a blue-chip stock within a few hours or days?

And oh yeah, don't forget that capital gains are taxed at only half the rate of your regular job's income.

Just something to keep in mind while you keep your treasure chest on the sidelines during these volatile days on the market...

3 comments:

Canadian Dollars said...

hey white eagle,

what sort of affiliate programs do you use for your blog? I'm only using adsense at the moment. can you recommend some other programs i could use to monetize? thx

White Eagle said...

You can try cj.com.

You can also set up a virtual bookstore with Amazon's help like I did.

Best of Luck and thanks for dropping by!

White Eagle said...

Hi Canadian Dollars,

You might also want to consider the Questrade affiliate program.

If you do decide to join, I would greatly appreciate it if you would use my ID as the Parent Affiliate ID on the application form. My ID is TRADER.