I'm not buying till 10K Dow 1K S&P. I think that could be about 3-4 months out. My BEARX is doing really well!
Investors....come in please!
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Tough to pick a bottom....I've been away from the PC so much, I haven't got any buys in. Did get a few thousand shares of PFO this AM.
I see lots of backing and filling; I think this is the bottom right now. All this bad news lately hasn't moved the market down that much, which indicates to me the selling is just about exhausted.
Lots of money on the sidelines. I'm looking for an up day of several hundred points on the Dow, any day now......
Lots of money on the sidelines. I'm looking for an up day of several hundred points on the Dow, any day now......
Originally Posted By: TheLoneRanger
Lots of money on the sidelines. I'm looking for an up day of several hundred points on the Dow, any day now......
Well, it wouldn't surprise me if we have a 200 to 300 point up day, then another big bank failure or two, or some other news that shocks the bulls, and then yet another day of 350 down, then a month of 50 up, 50 down, 50 up, 50 down etc. In essence, we've been at a bottom for abit now, but it's all volatility until some solid good news arrives. That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
Lots of money on the sidelines. I'm looking for an up day of several hundred points on the Dow, any day now......
Well, it wouldn't surprise me if we have a 200 to 300 point up day, then another big bank failure or two, or some other news that shocks the bulls, and then yet another day of 350 down, then a month of 50 up, 50 down, 50 up, 50 down etc. In essence, we've been at a bottom for abit now, but it's all volatility until some solid good news arrives. That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
Originally Posted By: Drew99GT
That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
If the dollar keeps tanking bc of this last couple months of hyper debt with giveways, bailouts, and our usual overspending. And that will force oil to go up until we literally are too broke to afford it.........I don't see any way out of a depression.
Every fackiong day of getting up and looking at all of the blood in the water in Europe/Asia and then by the end of the day the U.S. Market is 50 to 200 points down.
Overnight Oil up $1.22, Euro up, .48%, Europe Market down 4% (again), Asia down 5% (again). Day after day.depressing. Following the markets for my whole life...nothing like this.
That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
If the dollar keeps tanking bc of this last couple months of hyper debt with giveways, bailouts, and our usual overspending. And that will force oil to go up until we literally are too broke to afford it.........I don't see any way out of a depression.
Every fackiong day of getting up and looking at all of the blood in the water in Europe/Asia and then by the end of the day the U.S. Market is 50 to 200 points down.
Overnight Oil up $1.22, Euro up, .48%, Europe Market down 4% (again), Asia down 5% (again). Day after day.depressing. Following the markets for my whole life...nothing like this.
I'm will Al and Drew.
There is a lot of uncertainty right now and it surprises me that more investors and even the "experts" on CNBC aren't telling people to think in risk adjusted terms. People still talk about "picking bottoms" which is extremely risky right now. The logic of picking bottoms is really like gambling and hoping you win big. It's not at all about risk management.
There is a lot of uncertainty right now and it surprises me that more investors and even the "experts" on CNBC aren't telling people to think in risk adjusted terms. People still talk about "picking bottoms" which is extremely risky right now. The logic of picking bottoms is really like gambling and hoping you win big. It's not at all about risk management.
Originally Posted By: Al
Originally Posted By: Drew99GT
That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
If the dollar keeps tanking bc of this last couple months of hyper debt with giveways, bailouts, and our usual overspending. And that will force oil to go up until we literally are too broke to afford it.........I don't see any way out of a depression.
Yea, this funny money just being bombarded into the economy is not good. And it was funny money that got us into this mess to begin with!
Jim Cramer last night on Hardball was pulling his hair out (metaphorically!) - Chris Mathews asked him where all the money is coming from and Cramer was like - the printing presses are working day and night... The FDIC has huge reserves of treasury debt - aka they have nothing. When the bills come due and the banks fail, they magically do some computer work and voilla, they have the money they need.
The FDIC kinda operates like Social Security - the vast majority of the insurance premiums banks pay goes to the US Treasury and is spent on bridges in Alaska...
Originally Posted By: Drew99GT
That, and the election is over. The markets not gonna move up in a big way until after Nov. 4.
If the dollar keeps tanking bc of this last couple months of hyper debt with giveways, bailouts, and our usual overspending. And that will force oil to go up until we literally are too broke to afford it.........I don't see any way out of a depression.
Yea, this funny money just being bombarded into the economy is not good. And it was funny money that got us into this mess to begin with!
Jim Cramer last night on Hardball was pulling his hair out (metaphorically!) - Chris Mathews asked him where all the money is coming from and Cramer was like - the printing presses are working day and night... The FDIC has huge reserves of treasury debt - aka they have nothing. When the bills come due and the banks fail, they magically do some computer work and voilla, they have the money they need.
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Originally Posted By: Drew99GT
the vast majority of the insurance premiums banks pay goes to the US Treasury and is spent on bridges in Alaska...
That go nowhere.
the vast majority of the insurance premiums banks pay goes to the US Treasury and is spent on bridges in Alaska...
That go nowhere.
Originally Posted By: Drew99GT
The markets not gonna move up in a big way until after Nov. 4.
With such a pace the markets may not draw till elections. Mortgage-finance companies, commercial and investment banks, everywhere problems: Exposures to credit risk, Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings . And how many don't we know yet ?
BTW, in Europe, especially in Spain and UK, the 2nd phase may arrive even earlier European recession looms as Spain crumbles
The markets not gonna move up in a big way until after Nov. 4.
With such a pace the markets may not draw till elections. Mortgage-finance companies, commercial and investment banks, everywhere problems: Exposures to credit risk, Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings . And how many don't we know yet ?
BTW, in Europe, especially in Spain and UK, the 2nd phase may arrive even earlier European recession looms as Spain crumbles
Originally Posted By: tpitcher
Oil is down $7.31 right now...
Yea, cause The Bernakster told Congress the economy's going into the [censored] ter.
The dollar took a massive nosedive as well - new low againts the euro.
Oil is down $7.31 right now...
Yea, cause The Bernakster told Congress the economy's going into the [censored] ter.
The dollar took a massive nosedive as well - new low againts the euro.
And the Dow lost 97.70 points today, down to 10,957.49. NASDAQ is actually up 3 points to 2,216.16.
Time to find a wind/algae stock to get in on and hold for a few years.
Time to find a wind/algae stock to get in on and hold for a few years.
Originally Posted By: Pablo
Heck I don't know, but so many old ferts swear up and down "shoulda bought when everything was going to [censored] in a picnic basket"....
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm
I like the analogy of "catching a falling knife"
Heck I don't know, but so many old ferts swear up and down "shoulda bought when everything was going to [censored] in a picnic basket"....
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm
I like the analogy of "catching a falling knife"
I just hope I have the patience and common sense to wait until the knife hits the floor, before I reach for it!
I really don't want to screw this one up...I have been essentially 100% cash for 6 months waiting for this to happen. I really don't want to jump too soon...so I wait. My history is I wait too long and miss out. So there is my risk...trying not to repeat history.
I really don't want to screw this one up...I have been essentially 100% cash for 6 months waiting for this to happen. I really don't want to jump too soon...so I wait. My history is I wait too long and miss out. So there is my risk...trying not to repeat history.
Things I did right:
Bought short funds when the market was peaky
Bought XLF, KBE, etc at the bottom.
Bought and sold UVT at the right times.
Things I did wrong:
Sold short funds too soon.
Bought PFO too soon.
Bought RSF too soon.
Just random garbage.
Bought short funds when the market was peaky
Bought XLF, KBE, etc at the bottom.
Bought and sold UVT at the right times.
Things I did wrong:
Sold short funds too soon.
Bought PFO too soon.
Bought RSF too soon.
Just random garbage.
All it'll take is another swoop of bad news and we'll get another 200-300 point drop. The volatility is great for active traders, but for long holders like myself, I'm staying on the sidelines a wee bit longer.
If Citigroup comes in below expectations tomorrow for instance, along with a few other companies, the bears will be back.
The last two days were kinda like this:
http://www.youtube.com/watch?v=_dNnpxvIHZc
If Citigroup comes in below expectations tomorrow for instance, along with a few other companies, the bears will be back.
The last two days were kinda like this:
http://www.youtube.com/watch?v=_dNnpxvIHZc
Google in the terlet.
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