Market debreif

[jeff1000man]

Thats a tough call could this market go lower... yes I have entertained the idea of going to cash but I will more than likely ride it out.I am down about 35% in my IRAs and sep.You have to make this decision yourself age has a huge factor.I probably have at least 20 years to go so it would be kinda arrogant to think this market will not rally by then, hell it will probably come back and crash again in that time.
Most financial advisor's are clueless I use a broker for my SEP and some long term stuff the rest I do myself you really have to be hands on.That being said you also have to like doing it if you don't it will drive you crazy.
But we are in a classic bear market this will gain and pull back for years

All my IRA's are in cash since my company matches 20%, at least I am not losing on the cash, but my play cash has moved from buying boat parts to day stocks.

For the record, everytime BOC goes under $4 it rallies. It has happened 3 times since Jan 1. Would have been 3 good trades. closed up today.

RFA is a decent play also. If you get any of it under $2.75 don't dump it all because you probably won't get it back. Under $3 is a good buy. It moves up and down with the big banks, but it is not a bank that is in financial trouble so it is also a good investment to hold.

Cramer was pushing EGO today. Sounds like a suped gold buy since they produce at under $300 an ounce.

I have some others that are not up. but they will be good in the long run, so I am holding them.

MELI rallied again the last couple days. It has been moving between 13 and 15+.

I will keep my mouth shut on some others for now until I see what they might do.

Good luck and keep an eye on things. The worse thing for me is that I am out of the office on rally days and at the office on down days. I missed a lot of opportunities to sell at good profits.

 

[Expensive Date]

AIG up 47% in after hours trading banks could run tomorrow

 

[fund razor]

Fund sorry to hear about your Mom hope she is doing ok

Thanks Tim. Sorry for the hijack.
I think that everybody our age is walking or has walked this path.

Interested to see what happens today in the financial sector with the AIG news update. Would rather see the banks run than a run on the banks.
Especially if we taxpayers own 80% of AIG already. :ack2:

 

[Audiofn]

Is there someone on here that can tell me what to do? All my 401K is in stocks. I've lost 50% in the last year($160K). Do I leave it where it is and hope(Like i've been doing) that it will level off or do I park it somewhere and wait for the take off again?
I made the mistake of thinking it wouldn't get any worse but DAMN, every day is worse. Any suggestions?

Lots of us are in the same boat. My wife and I have decided to just leave what we have in there and are now investing more into T-bills and other less streesfull/safer investments. Once things settle down a little then I hope we can move it over in time for the ride up but unfortunately I think that is going to be a while. I am also looking for other things to invest in such as material purchases for the business and so on that will make it so that I can be more competitive and profitable in my work.

 

[Boss252]

Sorry to hear about your mom Fund. Does she have long term care insurance? i got it for my mom a few years ago after my dad died so she could have some peice of mind.

 

[fund razor]

Sorry to hear about your mom Fund. Does she have long term care insurance? i got it for my mom a few years ago after my dad died so she could have some peice of mind.

Thanks. Yes. She has long term care coverage, but so far... we haven't selected enough levels of assisted care for it to kick in. It's a dignity issue.

Looking at the chart today... looks like a flame job.

 

[Audiofn]

Man we could see into the 6K before the end of the day tomorrow

 

[jeff1000man]

Man we could see into the 6K before the end of the day tomorrow

Man I hope not. I got money in some places that it apparently shouldn't be, but hopefully I won't need it. I will buy some more stuff next week, but very cautiously now. I thought there was a bottom a couple weeks ago. I luckily didn't buy anything in the bounce on tues.

I sold some regions the other day and held some. I saw it was way up in the middle of the day today.

Should have bought oil the other day at $34-35.

You guys looking at anything?

 

[Expensive Date]

Man we could see into the 6K before the end of the day tomorrow

There is a lot of chatter on the financial boards saying that will happen tomorrow but they also said we would be in the 8s today and we all know how that turned out.
See what happens the hardcore day traders won't hold over the weekend but the sell off might not be that bad

 

[Expensive Date]

Just checked a few Financial stocks some of them are up in after hours so maybe we will be ok tomorrow

 

[Audiofn]

Was the same for today I beleive. Was up most of the day then afternoon crash.

 

[Expensive Date]

It has done that for the last two days usually after Obama speaks they should not let him talk till after 4:00.I do believe that this market wants to run but people are scared if we get 5 days up in a row I think we will see nice gains.Might be short lived but at least we will be back in the 8s

 

[Audiofn]

Agreed people need to hear something that makes them feel good. Unfortunately they are to engrosed in laws stuffed full of pork, people are worried that they are going to loose their ability to write off their home mortgage interest, assault weapons ban..... It is unreal that this guy still has the popularity that he does. He has done nothing but lie to use all along. So the "smart" people with money to invest are in a hold stand right now. What is left is not enough to sustain the market IMO.

 

[Expensive Date]

I hope I am wrong but it looks like we are going to see 6s today it could get ugly quick if we do.

 

[Expensive Date]

It held 7s even with the sell off at the close.Maybe next week will be better

 

[jeff1000man]

bpop roared up 35% at the close. I have no idea why, but I have some of it. Went down .20 in after hours, but still holding.

Only good thing that I have to report today.

A lot of the shorts are covering for the weekend. That is why it didn't fall any more today.

 

[Expensive Date]

What I don't understand is the banks say 10% of homes are delinquent or in foreclosure.that is probably about a 5 or 6 percent increase because the always had some behind.The banks for the most part are writing way less mortgages so less is going out what are they doing with the 90% they are collecting.Shouldn't they catch up on there own in a few months what am I missing here?

 

[fund razor]

What I don't understand is the banks say 10% of homes are delinquent or in foreclosure.that is probably about a 5 or 6 percent increase because the always had some behind.The banks for the most part are writing way less mortgages so less is going out what are they doing with the 90% they are collecting.Shouldn't they catch up on there own in a few months what am I missing here?

My Dad and I asked each other that exact question on the phone today. He was trying to cheer me up, I think. (Assuming that there is stability in the other 90%)

 

[Expensive Date]

http://www.cnbc.com/id/29510966

Could be the next rally will it last??????

 

[open72]

And it's only going to get worse.. GE will be split up , Citi is toast along with BOA, GM , ALCOA ... SPX and the DOW will take a serious blow in the morning ,the market has been shrugging off bad news for way to long...

The rally yesterday was all smoke about China...does anyone really belive that China will lead the USA out of this depression..????

So ,the market took those small gains back and then some..I got into day trading 5 months ago , lost a good size of $$$$ in the beginning, for the past month or so i am now under the guidance of a veteran trader and have been making money in this market with 3X ETF'S..if you have a weak stomach , i advise you not to play them..

DO not listen to the talking heads on cnbc or any other network !!!!!

DO no buy stocks , no matter how "cheap" they look !!!!!!

People talk about 401k's , the best thing you can do is take out what is left ,it will be a very long time before it will ever recover. SPX will see 600 or close to it ,DOW is anyone's guess.The next bubble is US Treasurys!

Best place to put money is with a good ,solid credit union ,they do not have exposure to all of this credit mess with CDS ,CMBS, etc... or buy a good safe and put your cash there..

Good luck and good health...America is going into very , dark , unchartered waters..

God bless America ...