Better times are ahead. You will see. Remember my market prediction after Q3 numbers come in. The Europe Crisis is predictably behind ours, which has been cloaked from the end of 2008. Debt load is huge everywhere. Saving grace is corporate efficiency and cash. There is a huge intellectual valuation not factored in to the markets.
Tony, I have noticed sooooooooo many weird things... that I KNOW without any doubt, that the machines are manipulating soooooooooo much. I will elaborate in a future post. It borderlines on criminal behavior. Total BS.
I know it doesn't mean much, if anything, but virtually all my stocks are up in after market trading.
Traders looking to see if they can turn a quick profit, or get rid of a holding they don't want. Sometimes they will offer shares at an "attractive" price to get rid of them because they know they are going to crash afterwards.
Very often, it seems the extended session prices have little to do with anything, other than traders re-adjusting their positions. It can be very helpful at times, however. It saved my butt more than once.
Earlier in the year, when we were first dealing with that "correction", I posted that my target for a definitive turnaround was November 1st... and I know that you posted a similar target, although if I recall correctly, you expected things to turn in October. Is that correct?
Either way, I am looking forward to the earliest possible end to this "Nightmare on Wall Street". (Sounds like the name for a movie?... lol.)
Especially if it helps me combat those damned trading "machines". Those machines are ruthless and FAR superior to any human sitting at home on a PC. Those machines have the decimal advantage (we aren't allowed to have it), the split-second first-strike timing advantage (we don't have it), and the algorithm advantage (we don't have it).
The game is rigged. I could write a book on what I have discovered about how those machines can take your money. It doesn't mean that you can't make money in the market, but it does mean that you will be up against some very fierce challenges (a.k.a. the "machines") that have been bestowed with tactical advantages.
But that aside, quite frankly, I'm a bit dissappointed in IBM. Ya' know, according to the article they are spending all that massive money so that a chip can navigate through a maze and play Pong more like a human being. :surprise:
No wonder their stock is down. What a terrible waste of shareholder's money. :P
I have sold everything, except I am now buying AAPL in the 350's.
If it goes even lower, I will slowly buy a little more. At the end of the year, I'll see where it's at.
I just can't spend my life sitting in front of my computer, day-trading all the time. It was fun for a while, but I need to stop.
I apologize to all for being sooooo inconsistent. But the market itself is inconsistent, and I try to adapt to it. Frankly, it is not the same as it used to be. In fact, I am starting to think that this is the "new" stock market, and this is what we should expect to happen more often from now on.
Again, I apologize, but I just can't do this any more. It's driving me crazier than I already am...
You`l be ready for another try next week This is why there is a seven day week---to give us a two day break--
Like I have said, things are brisk out there on the street, but if enough people say things are bad, then they get bad.... I`l be on guard
Thanks, but I don't know I can do this for much longer. It's much too demanding and sometimes it makes me too nervous or puts me in a bad mood, and my kids can even tell, and that's where I draw the line.
Some days, I've got the market whipped and I make some great gains, but then all of a sudden a day like yesterday comes along, and there's nothing that can be done to push back the tsunami of red ink, which kills so much of the previous work.
That's not the way investing or trading should be.
This is not just about $$$. It's about how it affects me.
I'm pulling the plug. Just sold AAPL.
I'll take next week off. Then after that, I'll take another look. If I still don't like the idea of getting back in the market, I'll buy fixed securities.
The S&P has lost about 18% since this year's high (during this past Spring). The Dow Jones has lost about 15%, and the Nasdaq has lost almost 19%!!!. The Russell 2000 is down 22% in just the last 4 weeks!!... and the Dow Transports is down 21%!
For comparison purposes... Apple is already down 12% from it's high, which was achieved not all that long ago this summer.
And... it's quite possible that the market may have even more downside ahead.
EDIT: Just spent a little time watching CNBC. Things sure don't look good...and one thing I have realized... it's all gotten waaaaay too complicated for a simple guy like me.
What happend to the world I used to live in? I miss it. How much of this is Obama's fault?
Tag, I think this has been going on for the last ten years--slowly--WallStreet want`s to get us `chickens` all herded up as it use to be before the internet, and on line trading ...The powers that be, banks, and quasi banks (brokers) just want it all...and of course the U S A is just one of many nations, and we don`t have the clout that we use to...The SEC has the power, just not the will...
One small example of the deception our `on line` trading account show, is the encouragement of a charge that is say seven dollars a trade....If you are lured to trade in the really cheap priced stocks, and buy in ten thousand share lots, or even more, that few cents they make per share really adds up....They hate the high priced stocks for obvious reasons....
I personally think the computers exaggerate these swings, and even create the deceptions that make for such uncertanty...Tony
This afternoon I contacted a Scottrade representative at the local branch.
I did this because of numerous unusual trades that occurred today, and in the past, but quite a few times today. Several times, the share price of a particular ETF that was displayed on my screen and the price that it ultimately purchased and/or sold at were NOT the same! I informed him of this. The problem was severe because I was attempting to capture the "spread" when the share price was rising. I would try to purchase it at a low price, and then immediately flip it, even if to make a quick $50 - $100. Heck, just doing that 10 times makes a quick grand. It should be fairly easy. But not so easy when the price that is displayed and the price that is actually executed are NOT the same! So, instead of me making a few bucks, the transaction would cause me to lose money... repeatedly. It was driving me crazy, but that's what kept happening. I finally gave up, of course, but not until after I had lost a pile of dough. I kept thinking that maybe I was doing something wrong, but sure enough the transactions were rigged. The representative explained to me that he could try to track all the orders and see if he could document any of it. I hope he can document it. (Why do I have my doubts?)
On one occassion, I purchased some shares of AAPL and the entire position vanished from my positions chart. I had no way to know if the transaction was complete or not because even though it initially indicated that the execution had occurred, it would not confirm it in the "positions" chart which was totally void of any AAPL shares. The entire transaction mysteriously disappeared! I re-initated the application and the shares still did not show up, so I purchased the shares again, and then the second purchase showed up, but it included the first purchase as an aggregate, and I ended up with twice the number of shares that I intended.
I explained all this to him. Our conversation was recorded. There's more. On several occasions when placing an order that was a "market" order instead of my usual limit order, I noticed that the order did not execute right away, and it waited until the price was at a disadvantage to me, and then at that point in time it executed. I have no doubt that somehow those transactions were manipulated.
So, I don't know what I'm gong to do yet. But, I will give him a chance to see what he can determine. He says that every single instruction that is issued on the platform can be traced, and that the entire matter is going to be reviewed by their top I.T. and software analysts. It will be interesting to see what he says next week.
In the meantime, I am angry and frustrated by the entire experience. It is a rigged game. I have made at least a thousand transactions, buying and selling quickly, making fast trades, over the past month and more. At $7 per transaction, Scottrade has made $7,000 per every thousand transactions. On some days, I have made and lost more than that, but in the end, when it is all done, yesterday and today were a nightmare. Yesterday was just one of those days that nothing I could do would hold back that tsunami of red ink. But today was different. Today was a day full of rigged trades, and I finally had enough of it. So, I made the call. I don't expect anything to come out of it, and I don't have a "plan B" yet.
Anyway, just a warning to all of you. The game is rigged, and I KNOW it is. I have made sooooooo many trades that I have NO DOUBT that somehow there are ways that the big guys can manipulate things now and then. I have seen it before my own eyes, numerous times.
I have made plenty of mistakes in trading, and I told that to the representative. I take full responsibility for the many stupid trades I have made. But, when I KNOW that I am ordering a trade that should make me money and the end result is something different than what I actually ordered... well... THAT's messed up. The game is rigged. I KNOW it for a fact. I know it's hard to believe something like this, but I swear I am telling the truth. What I posted here actually happened, without ANY doubt at all.
"The S&P has lost about 18% since this year's high (during this past Spring). The Dow Jones has lost about 15%, and the Nasdaq has lost almost 19%!!!. The Russell 2000 is down 22% in just the last 4 weeks!!... and the Dow Transports is down 21%!"
And yet, gold seems to be making a new high, and silver is also gaining, altho it is below its high of a few months ago...how high do you think they will go, and are we being set up for a fall, or are these two metals and their respective mining stocks ready to set all-time records???
And yet, gold seems to be making a new high, and silver is also gaining, altho it is below its high of a few months ago...how high do you think they will go, and are we being set up for a fall, or are these two metals and their respective mining stocks ready to set all-time records???
Here's my 2 cents... I think gold (and maybe silver) will continue to make gains, but ONLY until the stock market starts to stabilize.
Once investors have sufficient confidence in the stock market, gold could fall off a cliff. After that, I would expect gold to stabilize and strengthen again, because there are important monetary factors that offer support for gold, and one day in the future gold may have a strengthened relationship to currency.
Tag, those super fast computers were designed to do what you were trying to do...and a regular day trader doesn't have a chance to beat them.
It would be like me taking on Tiger Woods, giving him a stroke on each hole, playing with one arm tied behind my back, and being blindfolded !!
I am expecting a big rally Monday.
A rally will indeed come soon... but you think Monday? Maybe... but I don't think it will hold without more market turmoil at some point.
I just want things to return to something that resembles normal. I am sick and tired of the financial crisis that never ends, but continues to have new chapters.
BTW... Bernanke will be a wildcard next mid-week. A big rally or collapse could result.
I've been out of the loop as the market is concerned since I left for the tennis tourney on Thursday. It seems like I avoided a LOT of pain by not paying any attention to anything else. However, I see that AAPL took a dive along with most other stocks. Oh well, it's only money . There are more important things...like tennis . Eventually AAPL will go to $600. I am staying with it until he'll freezes over.
Sorry to hear of your major problems with Scottrade idiosyncrasies/cheating. I totally understand how you feel. Isn't there at least one honest "big boy" that will reveal to everyone all the cheating/manipulation that is taking place? I am like Dimosthenes, "looking for one honest man".
Isn't there at least one honest "big boy" that will reveal to everyone all the cheating/manipulation that is taking place? I am like Dimosthenes, "looking for one honest man".
Who knows?... Maybe my case will be the one to bring it to the front burner. We'll see.
Life is too short. You c'ant squeeze every penny and if you look at it with repect to "I lost money today because my stock went down" even though I'm way up from my original buy amount you will go nuts. You lose or make money every second with that viewpoint and it'll kill your health if you are not trained to take it. I lost on Apple from the 404 point to the current 350's and w'ont lose any sleep over it because most of my purchases are in the $160 area. I w'ont lose any sleep with the block I bought at $304 either. As long as you're playing with house money who cares. As Houdini says, make what looks like a good investment at a low price and you'll eventually make a killing. The market is totally irrational now, probably over bending by 15% or more because we are so close in time to the financial disaster of a few years ago. Looked at from a corporate viewpoint it makes no sense. Speculators are fleeing super solid balance sheets with the highest cash and lowest debt levels ever, strong guidance, great earnings and low multiples, and piling into things like gold and treasuries which if they were stock related would have sky high multiples and are at record price points for no other reason than fear and because all they want to see is negatives on economics. Fundamentals are too strong and will come back and probably soon. The banks are well capitalized and rumors can only last so long. Look at oil - based on all the mideast disruptions that were rumored a few months ago we should be exhausting our inventory, running on very tight supplies and plowing thru a $125 price right now. The rumors were greatly exxagerated as are the new ones about banks. Sure they have problems but they also have a lot of assets that everyone seems to be ignoring. You have to separate the real market from the one that is on drugs with rumors and is only acting temporarily. A shrewd investor takes the lows (doesn't have to be the very bottom) from things like this. I have buys in for Apple, IBM and Con-ED right now. ED is a great dividend buy.
I think I will build a modest portfolio of strong stocks, and a few speculative ones, and just sit on it for a year, Enough valuation to matter, but not so much to lose sleep over. Plenty of cash on the side to take advantage of opportunities that might pop up.
Yep. I think Bidu is a homerun stock as Google has conceeded China to them. But the only thing that scares me about it is that the Chineses government will interefere in that market. But I think a run back to the 160's once the market stabilizes is likely. Google at 492 may also be a phenomenal buy. The market is so irrational that it has taken Google down to $35 a share below where it was when it announced that record earnings report. That day we rallied from about 527 to over 600 because everything was so robust. How do you drop a Balance Sheet like that and future earnings by 20% in no time. While their stock prices are falling because of a bunch of irrational people Apple and Google are probably in the middle of a new record earnings quarter for this time period with fabulous growth. The computers are the problem as they sell irrationally based on programs, so instead of trying to match them in speed just take advantage of their flaws in trading and mixing in high quality equities with much lower quality equities. It's like the across the board 10% cuts. They never make sense. Something should be adjusted at 20% and something eles at 0%.
It's like the across the board 10% cuts. They never make sense. Something should be adjusted at 20% and something eles at 0%.
Exactly right. In this market, when the bad stocks go down, the good ones go down with them, no matter how good they are. Hopefully that will change soon and the market will make more sense.
Went to the mall to exchange something and Macy's was mobbed with people buying things. Then we went over to PF Chang's for an early dinner and there was a 90 minute wait. Tried Cheesecake Factory and there was a 90-120 minute wait. Gave up and bought some steaks for the barbecue. There's certainly no recession going on here.
That's a good sign for the economy, but that's got to be so frustrating to deal with so many people. Parts of New Jersey have some of the highest concentrations of people per square mile than anywhere else in the entire USA.
PF Chang's and CheeseCakeFactory have been that way on Saturdays ever since they built them onto the mall a few years back. Cheescake crowds at lunch most days...What recession is right!
Went to Houlihan's in Holmdel and waited 20 minutes...reasonable for a nice meal. The place is always booming and let me know if I can partner with anyone to open a Houlihan's around the Mall area!
I think we can all agree that we are all witnessing a reasonably healthy level of business activity and consumer behavior that is NOT reminiscent of the 2008/2009 depression/recession.
The market's fear is that we are HEADED in that direction for a variety of reasons.
I want to point out that I have NOT posted that I believe we are headed for a recession, certainly not up to this point. My personal business is one of the very first sectors to be affected at the earliest stages of a recession, so I have been able to successfully predict every recession because I could see a slowdown in my business BEFORE almost all other businesses. Len's business also provides some early warning, so the two of us are an unusual combination here that can be very helpful.
The economy and the stock market are related, of course, but sometimes not synchronized. And, they can feed off each other. A good economy can boost the market, and a good market can boost the economy... but they can likewise bring each other down. Currently, the market's fundamentals and performance are not in sync. But, again, the problem/fear is where we might be headed. Personally, I don't see a recession on the horizon at this time, contrary to Goldman Sachs and others who have stated wr are dangerously close to a recession. Again, my business activity doesn't suggest it, and it absolutely would post a downturn well before any recession, as it has never failed to do. If my business financials indicate a downturn, you will all be the first to know, and I will warn you.
The global situation is another element, as is our own political arena, and we are approaching an election year.
I think the media can cause more damage than good in the way there is so much distortion and contradicting reporting. It creates serious confusion and doubts and therefore increases fear... and fear is a major ingredient for a declining stock market, as well as declining consumer sentiment and future economic vitality. We have a media that is more out of control than ever, as well as totally incompetent, and often deliberately manipulative with it's own agenda that has little to do with reporting the unbiased truth.
Anyway, the stock market will eventually stabilize, but I am of the firm belief that an increased level of volatility is now a new "norm". The "machines" are here to stay, so we need to adjust our perspectives to see beyond the gyrations caused, in part, by the machines and stay focused on what has always mattered most... The fundamentals AND forward guidance.
Someone here posted that fear is ruling this market right now, and I agree. I have felt it myself and been terribly inconsistent with my approach, changing as the market changes. This is both good and bad. It is good to be in sync with the market, but bad to over-react. Instead of being RE-active to the market, I am now going to try to be more PRO-active as I move forward. This still maintains synchronization, but it puts me ahead of the curve, which is exactly where I want to be, not behind the eight ball.
BTW, will I be back in the market? Just ask Tony. Or, as the Terminator said, "I'll be back".
I sure agree with this post....Particularly the `media` aspect.....
I did want to mention that the Scottrade platform just widens the spread out a few cents on an order....They clean up on the larger number of shares on a low priced stock, but not nearly so much on a high priced one....I don`t think they manipulate the market---not that they wouldn`t if they could ..
I further think the `machine`that does so much , can quickly be calmed, with another platform that has a better program...Right now this is just something we all have to be aware of and on guard for....Look forward to you having a better week than last...Tony
Your post is so true. That is why it's so hard to time the market and the reason I NEVER let the down trends bother me or the uptrends excite me.
Emotion is not a good thing for trading OR investing. One only needs a belief that: "A Free Market is the Best Path to Prosperity".
The trouble is, the current administration is having a hard time making that path easy to travel for most businesses that are the engine of that prosperity.
I did want to mention that the Scottrade platform just widens the spread out a few cents on an order....They clean up on the larger number of shares on a low priced stock, but not nearly so much on a high priced one.
Are you saying that Scottrade charges us a little more than the actual market price in addition to the $7.00 per trade?
It really is just a platform that enables people to trade...It is connected to the whole trading network (for us smaller traders) and executes trades wherever the best market is---That is in theory--What happens is , if you look closely, say the bid and ask are three cents apart, on the regular streaming quotes....You open your box to place the trade, and say it is a buy....When that bit of information is registered, the spread widens a few cents(usually). and you place your order accordingly......Say it fills, and you are charged the seven dollars a trade...What you don`t see is the few cents that is made by them between the spread......It isn`t worth getting upset about, as I don`t really think you could prove anything, but it happens.....Sometimes it is just a fraction of a cent , and sometimes more....
The other computers that are tied into this same system, can almost immediately tell the size of an order, and `front run`, making a penny or a fraction, all before your eye lid can blink....They say it creates liquidity, but I think we all know that is a sometimes thing.....Seems most shops just cut the computer off when things plunge Tony ps This is generally what can go on, and I am sure I have missed important details...
Well, I could certainly see where that could happen, but it would seem that Scottrade would have to buy the stock first and then resell it to us to reap any profit on the spread...but with these lightning fast computers, what do I know.
Comments
Regards,
OW
I trade within a tax-deferred retirement trust.
And... My accountant is well-paid.
TM
I read $2600 on your earlier post... buy you have replaced that. either way, you did better than I did.
TM
Tony, I have noticed sooooooooo many weird things... that I KNOW without any doubt, that the machines are manipulating soooooooooo much. I will elaborate in a future post. It borderlines on criminal behavior. Total BS.
TM
Eventually.
Just like oil prices would eventually come down.
TM
Traders looking to see if they can turn a quick profit, or get rid of a holding they don't want. Sometimes they will offer shares at an "attractive" price to get rid of them because they know they are going to crash afterwards.
Very often, it seems the extended session prices have little to do with anything, other than traders re-adjusting their positions. It can be very helpful at times, however. It saved my butt more than once.
TM
Regards,
OW
We are on the same page with that.
Earlier in the year, when we were first dealing with that "correction", I posted that my target for a definitive turnaround was November 1st... and I know that you posted a similar target, although if I recall correctly, you expected things to turn in October. Is that correct?
Either way, I am looking forward to the earliest possible end to this "Nightmare on Wall Street". (Sounds like the name for a movie?... lol.)
TM
Do yourself a favor, and just enjoy the tennis.
DO NOT look at your stocks today. No sense in ruining your good time.
TM
Regards,
OW
2013 LX 570 2016 LS 460
IBM pursues chips that behave like brains
HA!
Regards,
OW
I'll take all the help I can get!
Especially if it helps me combat those damned trading "machines". Those machines are ruthless and FAR superior to any human sitting at home on a PC. Those machines have the decimal advantage (we aren't allowed to have it), the split-second first-strike timing advantage (we don't have it), and the algorithm advantage (we don't have it).
The game is rigged. I could write a book on what I have discovered about how those machines can take your money. It doesn't mean that you can't make money in the market, but it does mean that you will be up against some very fierce challenges (a.k.a. the "machines") that have been bestowed with tactical advantages.
But that aside, quite frankly, I'm a bit dissappointed in IBM. Ya' know, according to the article they are spending all that massive money so that a chip can navigate through a maze and play Pong more like a human being. :surprise:
No wonder their stock is down. What a terrible waste of shareholder's money. :P
TM
http://www.youtube.com/watch?v=J6TcpfBHlbs
I have sold everything, except I am now buying AAPL in the 350's.
If it goes even lower, I will slowly buy a little more. At the end of the year, I'll see where it's at.
I just can't spend my life sitting in front of my computer, day-trading all the time. It was fun for a while, but I need to stop.
I apologize to all for being sooooo inconsistent. But the market itself is inconsistent, and I try to adapt to it. Frankly, it is not the same as it used to be. In fact, I am starting to think that this is the "new" stock market, and this is what we should expect to happen more often from now on.
Again, I apologize, but I just can't do this any more. It's driving me crazier than I already am...
TM
Like I have said, things are brisk out there on the street, but if enough people say things are bad, then they get bad....:( I`l be on guard ....Tony
If you don't need the cash right now, just take your own advice and load up on some under priced stocks. Sooner or later you will make a killing.
2013 LX 570 2016 LS 460
Like I have said, things are brisk out there on the street, but if enough people say things are bad, then they get bad.... I`l be on guard
Thanks, but I don't know I can do this for much longer. It's much too demanding and sometimes it makes me too nervous or puts me in a bad mood, and my kids can even tell, and that's where I draw the line.
Some days, I've got the market whipped and I make some great gains, but then all of a sudden a day like yesterday comes along, and there's nothing that can be done to push back the tsunami of red ink, which kills so much of the previous work.
That's not the way investing or trading should be.
This is not just about $$$. It's about how it affects me.
I'm pulling the plug. Just sold AAPL.
I'll take next week off. Then after that, I'll take another look. If I still don't like the idea of getting back in the market, I'll buy fixed securities.
Guess I'm burned out. Sorry.
TM
Seriously, thanks.
TM
For comparison purposes... Apple is already down 12% from it's high, which was achieved not all that long ago this summer.
And... it's quite possible that the market may have even more downside ahead.
EDIT: Just spent a little time watching CNBC. Things sure don't look good...and one thing I have realized... it's all gotten waaaaay too complicated for a simple guy like me.
What happend to the world I used to live in? I miss it. How much of this is Obama's fault?
TM
One small example of the deception our `on line` trading account show, is the encouragement of a charge that is say seven dollars a trade....If you are lured to trade in the really cheap priced stocks, and buy in ten thousand share lots, or even more, that few cents they make per share really adds up....They hate the high priced stocks for obvious reasons....
I personally think the computers exaggerate these swings, and even create the deceptions that make for such uncertanty...Tony
This afternoon I contacted a Scottrade representative at the local branch.
I did this because of numerous unusual trades that occurred today, and in the past, but quite a few times today. Several times, the share price of a particular ETF that was displayed on my screen and the price that it ultimately purchased and/or sold at were NOT the same! I informed him of this. The problem was severe because I was attempting to capture the "spread" when the share price was rising. I would try to purchase it at a low price, and then immediately flip it, even if to make a quick $50 - $100. Heck, just doing that 10 times makes a quick grand. It should be fairly easy. But not so easy when the price that is displayed and the price that is actually executed are NOT the same! So, instead of me making a few bucks, the transaction would cause me to lose money... repeatedly. It was driving me crazy, but that's what kept happening. I finally gave up, of course, but not until after I had lost a pile of dough. I kept thinking that maybe I was doing something wrong, but sure enough the transactions were rigged. The representative explained to me that he could try to track all the orders and see if he could document any of it. I hope he can document it. (Why do I have my doubts?)
On one occassion, I purchased some shares of AAPL and the entire position vanished from my positions chart. I had no way to know if the transaction was complete or not because even though it initially indicated that the execution had occurred, it would not confirm it in the "positions" chart which was totally void of any AAPL shares. The entire transaction mysteriously disappeared! I re-initated the application and the shares still did not show up, so I purchased the shares again, and then the second purchase showed up, but it included the first purchase as an aggregate, and I ended up with twice the number of shares that I intended.
I explained all this to him. Our conversation was recorded. There's more. On several occasions when placing an order that was a "market" order instead of my usual limit order, I noticed that the order did not execute right away, and it waited until the price was at a disadvantage to me, and then at that point in time it executed. I have no doubt that somehow those transactions were manipulated.
So, I don't know what I'm gong to do yet. But, I will give him a chance to see what he can determine. He says that every single instruction that is issued on the platform can be traced, and that the entire matter is going to be reviewed by their top I.T. and software analysts. It will be interesting to see what he says next week.
In the meantime, I am angry and frustrated by the entire experience. It is a rigged game. I have made at least a thousand transactions, buying and selling quickly, making fast trades, over the past month and more. At $7 per transaction, Scottrade has made $7,000 per every thousand transactions. On some days, I have made and lost more than that, but in the end, when it is all done, yesterday and today were a nightmare. Yesterday was just one of those days that nothing I could do would hold back that tsunami of red ink. But today was different. Today was a day full of rigged trades, and I finally had enough of it. So, I made the call. I don't expect anything to come out of it, and I don't have a "plan B" yet.
Anyway, just a warning to all of you. The game is rigged, and I KNOW it is. I have made sooooooo many trades that I have NO DOUBT that somehow there are ways that the big guys can manipulate things now and then. I have seen it before my own eyes, numerous times.
I have made plenty of mistakes in trading, and I told that to the representative. I take full responsibility for the many stupid trades I have made. But, when I KNOW that I am ordering a trade that should make me money and the end result is something different than what I actually ordered... well... THAT's messed up. The game is rigged. I KNOW it for a fact. I know it's hard to believe something like this, but I swear I am telling the truth. What I posted here actually happened, without ANY doubt at all.
TM
And yet, gold seems to be making a new high, and silver is also gaining, altho it is below its high of a few months ago...how high do you think they will go, and are we being set up for a fall, or are these two metals and their respective mining stocks ready to set all-time records???
It would be like me taking on Tiger Woods, giving him a stroke on each hole, playing with one arm tied behind my back, and being blindfolded !!
I am expecting a big rally Monday.
2013 LX 570 2016 LS 460
Here's my 2 cents... I think gold (and maybe silver) will continue to make gains, but ONLY until the stock market starts to stabilize.
Once investors have sufficient confidence in the stock market, gold could fall off a cliff. After that, I would expect gold to stabilize and strengthen again, because there are important monetary factors that offer support for gold, and one day in the future gold may have a strengthened relationship to currency.
IMHO.
TM
It would be like me taking on Tiger Woods, giving him a stroke on each hole, playing with one arm tied behind my back, and being blindfolded !!
I am expecting a big rally Monday.
A rally will indeed come soon... but you think Monday? Maybe... but I don't think it will hold without more market turmoil at some point.
I just want things to return to something that resembles normal. I am sick and tired of the financial crisis that never ends, but continues to have new chapters.
BTW... Bernanke will be a wildcard next mid-week. A big rally or collapse could result.
TM
2013 LX 570 2016 LS 460
Sorry to hear of your major problems with Scottrade idiosyncrasies/cheating. I totally understand how you feel. Isn't there at least one honest "big boy" that will reveal to everyone all the cheating/manipulation that is taking place? I am like Dimosthenes, "looking for one honest man".
Who knows?... Maybe my case will be the one to bring it to the front burner. We'll see.
TM
Good luck!
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Life is too short. You c'ant squeeze every penny and if you look at it with repect to "I lost money today because my stock went down" even though I'm way up from my original buy amount you will go nuts. You lose or make money every second with that viewpoint and it'll kill your health if you are not trained to take it. I lost on Apple from the 404 point to the current 350's and w'ont lose any sleep over it because most of my purchases are in the $160 area. I w'ont lose any sleep with the block I bought at $304 either. As long as you're playing with house money who cares. As Houdini says, make what looks like a good investment at a low price and you'll eventually make a killing. The market is totally irrational now, probably over bending by 15% or more because we are so close in time to the financial disaster of a few years ago. Looked at from a corporate viewpoint it makes no sense. Speculators are fleeing super solid balance sheets with the highest cash and lowest debt levels ever, strong guidance, great earnings and low multiples, and piling into things like gold and treasuries which if they were stock related would have sky high multiples and are at record price points for no other reason than fear and because all they want to see is negatives on economics. Fundamentals are too strong and will come back and probably soon. The banks are well capitalized and rumors can only last so long. Look at oil - based on all the mideast disruptions that were rumored a few months ago we should be exhausting our inventory, running on very tight supplies and plowing thru a $125 price right now. The rumors were greatly exxagerated as are the new ones about banks. Sure they have problems but they also have a lot of assets that everyone seems to be ignoring. You have to separate the real market from the one that is on drugs with rumors and is only acting temporarily. A shrewd investor takes the lows (doesn't have to be the very bottom) from things like this. I have buys in for Apple, IBM and Con-ED right now. ED is a great dividend buy.
I think I will build a modest portfolio of strong stocks, and a few speculative ones, and just sit on it for a year, Enough valuation to matter, but not so much to lose sleep over. Plenty of cash on the side to take advantage of opportunities that might pop up.
AAPL, IBM, LLY, ED, XOM, CHK, BIDU, C, AMZN, CAT, S, T.
You like my picks? Any must-haves that I am missing?
TM
Exactly right. In this market, when the bad stocks go down, the good ones go down with them, no matter how good they are. Hopefully that will change soon and the market will make more sense.
2013 LX 570 2016 LS 460
I'll bet those steaks were good!
TM
I owned BRK-B shares the first four months of this year. I completely forgot about that stock.
QLIK? That's a great idea! I'm definitely going to add some QLIK to the mix.
TM
Absolutely -- I consider him a patron saint, given much of what I do.
Went to Houlihan's in Holmdel and waited 20 minutes...reasonable for a nice meal. The place is always booming and let me know if I can partner with anyone to open a Houlihan's around the Mall area!
BTW, I like Verizon (VZ) long as well.
Regards,
OW
2013 LX 570 2016 LS 460
Damn the market!
Regards,
OW
The market's fear is that we are HEADED in that direction for a variety of reasons.
I want to point out that I have NOT posted that I believe we are headed for a recession, certainly not up to this point. My personal business is one of the very first sectors to be affected at the earliest stages of a recession, so I have been able to successfully predict every recession because I could see a slowdown in my business BEFORE almost all other businesses. Len's business also provides some early warning, so the two of us are an unusual combination here that can be very helpful.
The economy and the stock market are related, of course, but sometimes not synchronized. And, they can feed off each other. A good economy can boost the market, and a good market can boost the economy... but they can likewise bring each other down.
Currently, the market's fundamentals and performance are not in sync. But, again, the problem/fear is where we might be headed. Personally, I don't see a recession on the horizon at this time, contrary to Goldman Sachs and others who have stated wr are dangerously close to a recession. Again, my business activity doesn't suggest it, and it absolutely would post a downturn well before any recession, as it has never failed to do. If my business financials indicate a downturn, you will all be the first to know, and I will warn you.
The global situation is another element, as is our own political arena, and we are approaching an election year.
I think the media can cause more damage than good in the way there is so much distortion and contradicting reporting. It creates serious confusion and doubts and therefore increases fear... and fear is a major ingredient for a declining stock market, as well as declining consumer sentiment and future economic vitality. We have a media that is more out of control than ever, as well as totally incompetent, and often deliberately manipulative with it's own agenda that has little to do with reporting the unbiased truth.
Anyway, the stock market will eventually stabilize, but I am of the firm belief that an increased level of volatility is now a new "norm". The "machines" are here to stay, so we need to adjust our perspectives to see beyond the gyrations caused, in part, by the machines and stay focused on what has always mattered most... The fundamentals AND forward guidance.
Someone here posted that fear is ruling this market right now, and I agree. I have felt it myself and been terribly inconsistent with my approach, changing as the market changes. This is both good and bad. It is good to be in sync with the market, but bad to over-react. Instead of being RE-active to the market, I am now going to try to be more PRO-active as I move forward. This still maintains synchronization, but it puts me ahead of the curve, which is exactly where I want to be, not behind the eight ball.
BTW, will I be back in the market? Just ask Tony. Or, as the Terminator said, "I'll be back".
TM
I did want to mention that the Scottrade platform just widens the spread out a few cents on an order....They clean up on the larger number of shares on a low priced stock, but not nearly so much on a high priced one....I don`t think they manipulate the market---not that they wouldn`t if they could
I further think the `machine`that does so much , can quickly be calmed, with another platform that has a better program...Right now this is just something we all have to be aware of and on guard for....Look forward to you having a better week than last...Tony
Emotion is not a good thing for trading OR investing. One only needs a belief that: "A Free Market is the Best Path to Prosperity".
The trouble is, the current administration is having a hard time making that path easy to travel for most businesses that are the engine of that prosperity.
Time for Change...the only constant.
Market up 400 points on Monday.
Regards,
OW
Are you saying that Scottrade charges us a little more than the actual market price in addition to the $7.00 per trade?
2013 LX 570 2016 LS 460
It really is just a platform that enables people to trade...It is connected to the whole trading network (for us smaller traders) and executes trades wherever the best market is---That is in theory--What happens is , if you look closely, say the bid and ask are three cents apart, on the regular streaming quotes....You open your box to place the trade, and say it is a buy....When that bit of information is registered, the spread widens a few cents(usually). and you place your order accordingly......Say it fills, and you are charged the seven dollars a trade...What you don`t see is the few cents that is made by them between the spread......It isn`t worth getting upset about, as I don`t really think you could prove anything, but it happens.....Sometimes it is just a fraction of a cent , and sometimes more....
The other computers that are tied into this same system, can almost immediately tell the size of an order, and `front run`, making a penny or a fraction, all before your eye lid can blink....They say it creates liquidity, but I think we all know that is a sometimes thing.....Seems most shops just cut the computer off when things plunge
2013 LX 570 2016 LS 460