re: What do you do for 'extra' money?

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How much do you research before you invest?

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Not too much. I'm already very familiar with the 30 or so companies I trade. The only ETF I trade is SDS, a leveraged inverse ETF. I just use it when I can't find any of my usual stocks are down enough to buy.

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And do you have any sort of strategy or do you just pull the trigger on random stocks?

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Certainly not random stocks! I look for anomalies in the prices of about 30 stocks, all considered to be large caps. If the price goes up or down outside of a "normal" daily range without any unusual news on that company, I will either buy or short the stock.