This market performance is exactly what I figured would happen.
That's why I sold most of my positions yesterday, and additionally in extended hours and pre-market hours. I left myself with only 5% of my original positions, and now I have been building an entirely new base as the market is offering me the same stocks, but at a much better price point than what I sold them for. I am slowly buying with each dip.
This is the strategy that I had used and posted about previously, and it worked very well with the last round. I hope it works again. I'll post my progess.
Cramer was doing a monologue about ETFs and then said something about rapid trading. He was saying negative things about the ETFs and the comment about computer trading sounded negative.
I'll have to watch the rerun later on CNBC to catch what he was saying. Anyone else catch it and have an interpretation?
Thanks for these articles Len. They are very interesting and they told the truth. If only the Weather Channel would acknowledge that their predictions of wind strength with Irene were horrible to say the least.
Nothing new. Cramer said what he's said before. HFT now accounts for the vast majority of the market's daily movement. We all know this already.
The main complaint that he has regarding ETFs is regarding those that leverage or short the market in multiples, such as a double or triple short ETFs. He didn't name any names of these funds, but the ones I am familiar with are QID (double short) and QLD (double leverage), as examples. There are others, of course.
He also discussed the high speed algorithmic manipulation that I was posting about here recently... and he mentioned that there is no watchdog in place to protect homegamers, and that we all need to be extremely careful. He suggested that we NEVER place a market order and only use limit orders when buying or selling shares. Also, he repeated his recommendation for diversification of up to 10 stocks as the highest number of stocks to own, with one of them a speculative stock, and the importance to include dividend paying stocks.
He mentioned spending one hour of homework and research per week per stock owned.
Now, the administration has decided to sue 12 banks over the prior mortgage fiasco.
GREAT TIMING! Just when the economy and the banks are holding on by a thread, the decision is made to sue the banks. More stupidity... and much more is on the way next week.
Also, today's jobs report was the worst EVER since the great depression.
In addition, the latest compilation of data is now VERY similar to the data during the 2008/2009 financial meltdown. And what makes this worse than 2008/2009 is that the banks aren't in failure mode as they were then... although the government's expected lawsuit against the banks will certainly give them a serious blow.
Absolutely unbelieveable.
We still have over a year before Obama can be removed, and we are already on the edge of the cliff... from which there is little chance of any recovery in our lifetime. Not only in terms of the economy, but this administration has caused the situation in the Middle East to be MUCH closer to a disaster of epic proportion, which will potentially have unimagineable political, economic, and social consequences unlike anything this country has EVER seen.
Plus, I caught the current Secr. of Labor on CNBC this morning spinning everything.
Don't you know (to paraphrase her) ...."this administration has enabled the creation of over 2 million jobs from the private sector in the last several months, more than any other period in the previous administration".
Hmmm....I didn't know that.
She blames the current situation on those "on the other side of the aisle not wanting to negotiate".
She went on to say that we "this Labor day we should celebrate the hard working individuals who are looking for jobs ".
I saw a White House spokesman interview replayed on Fox News. He still is blaming "we inherited" and "Previous administration."
The jobs ideas for this super important talk at the Congress is going to be spending government money to keep the spending amounts up so BO doesn't get two quarters of downward GDP which signifies a recession _before_ the election. After the election that's what He wants to try to break the economy more to redo US as He wishes.
She did not want to say there has been a NET loss of jobs in that time frame of 6.7 Million. Nothing they say will ring true with those that are struggling to make it in this bleak economy. So 8.7 million lost and 2 million gained back. Most at a lower wage than the jobs lost. No way you can spin the facts to look good. Unemployment was under 7% when he was elected and is holding now at 9.1%. With an actual over 20% when you count all the people that have given up looking.
Just read an article why so many illegals file Federal Income Tax returns. To get EIC or money back. 800,000 illegals in California filed Federal Income tax returns in 2010.
I think the main reason he will loose the election is the fear in people who HAVE jobs as industry continues to slice costs as the viscous cycle continues.
NO WAY he can say or do anything in 9-12 months that will change things in time. The GOP needs to keep generating solutions that will ensure buisnesses will invest.
I hope you are right, but the GOP still needs to come up with some ideas and programs that will start to solve some of our long term festering problems. Just because Obama has been such a failure I hope they don't think they have a free pass to the White House without some significant positive changes. Changes that make sense to all of us.
>read an article why so many illegals file Federal Income Tax returns. To get EIC or money back. 800,000 illegals in California filed Federal Income tax returns in 2010
That's done to be sure they'll vote democrat in the next election. It's okay. We don't want to require following the law at the borders nor in the IRS system of refunds.
I figured out a few years back when most of urban Dayton was flooded with billboards about how the tax preparer could get them refunds even if they paid no tax withholding that there was a game on.
the GOP still needs to come up with some ideas and programs that will start to solve some of our long term festering pr
They also have to convince the American public that they are not the obstacle(s) standing in the way of progress. They have to win the propaganda campaign of which the Democrats seem to be more proficient.
I have lost my confidence in Obama and his team....I was very hopeful and a supporter through thick and thin, but I have been wrong and I feel betrayed....
The opposition party (republican) has to not only come up with someone I can believe in, but also a program that we can believe in...If they fail to do that, then I will take the `lessor of two evils`.....Not a nice position to be in, and very disappointed .
On another subject, the un employment is something that is not what it is being reported...The system is very deceptive, and there is `almost` a system that is too generous for too long a period....Almost not making the effort to find `work` is a bonus....
Further it just does not make sense to be bringing the lawsuits against the banks at this time, and letting the computer driven trading go on and on...Someone needs to get their priorities in order
Speaking of `priorities` I hope Tagman improves his house to his liking...Now that makes `sense`........:).....Tony
I am afraid that TARP and the events that led up to it, as well as the bank's bahavior after it was enacted, have proven beyond a doubt that many of the major banks are sinister at best.
While filing suit against them is justified, it is not in anyone's best interest at this time, unless the suit was an attempt to modify their credit policies instead of an excuse to get TARP money back... which the banks took, but never really extended in the form of credit, as was planned and agreed, and expected.
Essentially, after the massive multi-trillion dollar TARP bailout, constructed to inject massive capital & credit into the economy through the biggest banks, the banks really didn't pass the money on into the economy! So, should they be sued? Oh yes!... But not at this point in time.
The dilemma is that the banks are an important part of the solution. Sure, jobs is the number one focus, but even if there was full employment, we'd have an economic disaster because the banks have poison assets and kept the TARP money, and if there is insufficient credit, any hopes for an economic expansion is handcuffed by those banks.
No wonder the government wants to sue them. I'd also like to sue them... and hang a few of their overpaid [non-permissible content removed] for the mess they made that led up to the financial meltdown that crushed our economy, and we are STILL limping along, and will continue to limp along for many years to come. Yes, I'd like to have a few minutes in the ring with those bankers. I'd use a chainsaw instead of boxing gloves, and that would be too nice, when I consider what they did to our country and millions of American workers and American families.
Regarding the stock market, I've said this before and I'll say it again... The stock market is a new game with new rules. It is NOT the same as it was, and everyone should understand and accept, otherwise potentially at their financial peril, that they can lose large percentages of their investments if they are not careful... the HFTs and the machines are armed and dangerous and their sole mission is to suck every possible dollar from you out of the market. The volatility is not so much about fear... it is by design... with a single goal.
Lastly, I want to say that the economy we all see in the stores and restaurants and the economy that exists behind the curtain are NOT the same. There is SERIOUS trouble and everyone should not forget that time is running out, and our politicians are stuck in an upcoming election year. Obama is stupid and helpless, and the Republicans want him to fail in order to gain the Presidency back. So, don't expect much from Washington.
Be prepared. War doesn't have to be fought with bullets and bombs. It can be an economic war. Our country can be defeated by shattering our fragile economy. And, what kind of "defense" or "national security" measures do we have in place to protect us from that?
Great post tagman. I agree with all you said 100%.
The shame of it all is that everything could be fixed if all the politicians would concentrate on the problems instead of getting re-elected while playing to their political bases and lobbyists. They all know what the problems are and how to fix them. EVERY ONE of them should be kicked out in 2012 on principle alone.
I am hoping that all these problems have awakened Middle America and some real progress can be made next year.
Well said Mr Tag----I sure agree with you about the bankers---the guys and girls that run the bank...That`s where the problem originated, and alot of them have cashed in and moved on, leaving us Americans to fend for ourselves....Poor timing on the Obama team...
There was a good article in Bloomburg, about a guy I think named Rogers---at Goldman---Sort of gives us a view of the inner workings..
I still continue to see good activity on an everyday basis---people still ambitious , and are active....
As a famous bankster once said: "I care not what puppet is placed on the throne of England to rule the Empire, ...The man that controls Britain's money supply controls the British Empire. And I control the money supply."
What's that family fortune worth today? Sinister at best, indeed.
Another buying opportunity this morning, especially during the pre-market hours. Some of the stocks were at ridiculously low prices during pre-market and early minutes of regular trading.
Last Friday, I focused on building a new low base, and this morning I continued with that strategy. There is potentially and small temporary "cost" to build the base, but it is worth it because when the market turns positive the profits can be amazing. This is the same strategy that brought me all the way back to (and above) my former portfolio highs last week. It is working again today. For example, in today's dramatically down market, I am actually up thousands of dollars today.
The ONLY reason I am sharing this information with all of you is that I want you all to know that there seems to be a way to beat this screwed up market. I worked hard at learning and applying quite a few different strategies, as Tony pointed out recently, but this is the one that I am sticking with. It works.
I have also watched how the market often changes direction shortly after it opens, and that it's an opportunity to take advantage of that change of direction. Also, take a close look at how the last hour trades. It is often extremely active, and there are often all kinds of opportunities in that last hour.
If by chance you ever have a problem with your phone bill or account, I suggest you not try and solve it either over the phone or on line.....After several weeks of this frustration , I finally just went to a store, and they will quickly and finally solve the problem....Either Verizon or att....In my case it was att......Tony
Tony. I think that makes sense. After all, when you showed up in person, you probably looked like you had been through weeks of frustration on the phone with them, and that you were about to kill someone if they didn't solve the problem.
Thanks Tag---I wasn`t in such a bad mood as I was just `beat`....What I did, was just check up to see if Verizon offered a solution to having just `ground` lines, as I already have had the wireless phone.....The person in the office was very knowledgable , and thorough......By chance I just thought I would take a chance and go by att...They were also very polite and knowledgable and further could solve the problems and answer the billing issues I was having with them----at least for one month---
I just posted what my experience was, and further the phone or internet was a total failure....Holding for quite long periods of time and then speaking or typing to the wrong department......That just really ruined numerous afternoons, and I never thought to just go by a store.....I wanted so share my `luck`with the gang, for incase anyone had a similar problem
Maybe with more people getting back to work, from summer vacations etc. the computer generated trading will get knocked back, and maybe the SEC will do it`s job?? Just a thought Tony
Good Evening, my financially sophisticated friends:
We just bought a new '11 BMW 535xi for the fabulous wife, with the Radial Spoke (Style 237) 18 x 8.0 light alloy wheels, 245/45 run-flat all-season tires (base setup). Thinks I got a decent deal, will probably sell a bunch of my limited stock portfolio (so severely diminished) to pay for it...
Anyway, offered the 5 year BMW Tire Protection package for $1267, my initial reaction is thanks, but no (self insure). Your thoughts? Have a couple of days to think about it, new to run flats and have read here and there that the wheels seem to be (relatively) easily damaged. I'm a bit less worried about the tires as the wheels.
Any and all input appreciated!
Regards,
Laurasdada, proud to continue to keep the economy humming along by purchasing two cars in the last three months!
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
RFT's worked for me (got a 0 pressure situation for 100 miles but not an issue!) Actually got a second set free because the BS's on the'06 had issues and the dealers changed out many to Contis back then until BS got it corrected. Yes, the wife needs to stay AWAY from the curb...FAR AWAY!! They look great but your finger nail could scratch them!
Yeah, I still lean towards self-insure. But my local shop recommended buying. They claim to see a lot of Audi, BMW and Saab wheel issues including cracking and bending. I worry less about the tires, more about the wheels. Shop thought the price was pretty good, for five years of coverage, which is transferable. Need to see the fine print, though.
There is a recession, my bank account and net worth are recessing quite nicely! But my garage is getting happier! Sorry RX300, no garage for you! Of course, I'll be driving it this winter...
5'er is Tasmin Green, unique color, wife likes it. Too many black, silver and gray variations on the road. Although Space Gray was my first choice. Of course, my choice, in her eyes, is no choice...
She deserves it, lovely car for a lovely person.
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Agreed....would not purchase for over $400-500. Dada, you could consider negotiating that price, if you really want it. Beware that there are restrictions/fine print for those tire policies.
I remember the Bridgestone RFT debacle, I think there are Contis on the 5, forgot to check as I was too in shock over the fact we actually bought the car. Celebrated with a couple of value meals at Papa Ginos afterward. Because, that's the way I roll!
Gotta see if curbing the wheels, if damaged, would be included in the warranty package. Or just "road hazards," which I'll want fully defined.
Oh, yeah. Another electrical gremlin for the Jag: Nav system has flaked out. Started shutting down every time I entered a destination, took two or three tries to enter, but it worked. No longer, now I'm stuck in Washington, DC, can't program any other location! And, the AM radio might be on vacation again... But, no critical system failures and I totally expected electrical gremlins. Warranty, loner car. But, come the end of warranty, I may have to set the feline free! To roam, unfettered amongst the common, proletariat hoi polloi of the mainstream automobile backwater! And, then I'll buy a Kia...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I think in a longterm test of an XJ or XK not long ago, some mag had the same issue with the nav failing. British cars and electrics, still can't get it right.
I drove the touring model of your new BMW in Germany last year, nice comfy ride, BMW makes great seats.
We're getting a copy of the actual contract, should be a fun read. My wife started to ask the F&I guy about curbing, he cut her off and said, "You hit a pothole. No matter what, you hit a pothole!"
Now, trying to figure out how we want to pay, bank will loan at 2.39%, HELOC at (currently) 3%. Might split between the two, lock in a pretty good apr (60 months), take advantage of the marginally better tax adusted rate of the HELOC. Both, of course, with no pre-payment penalty although the bank wants a $75 processing fee...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Congrats on the new BMW. Great car. I have never had run flats but that price seems steep...and Kyfdx knows his cars. If I had to buy, I would try for a lower price.
Congratulations---What a comeback ---- I purchased the wheel coverage five and a half yrs ago, for the Audi, and it was around three hundred dollars....three years....I never had any wheel trouble, but skinnned them up on a curbing....I wonder what they charge to polish the scrapes out? I would think you might want to save that money, but expect to scrape up a wheel once in a while----Just hope not when it is new Tony
Now... I wish I had paid attention when they offered that, this past Saturday.. I just kept saying no....
It was either $799 or $999, I think.... but, we were just doing a 24 month lease, so definitely not worth it..
If you can lock in 2.39%, I'd take it, and not worry about the tax deduction.... In two years, that HELOC could easily be at 5% or more (not that I'm predicting...).
If you have cash earning 0.50%, I'd use that... .LOL
Gotta see if curbing the wheels, if damaged, would be included in the warranty package. Or just "road hazards," which I'll want fully defined.
On an Infinti (tire warranties are not car-specific, rather company specific) I had the warranty and curbed one of the wheels. The policy only essentially covered trashing the wheels in a major car wreck. It would have cost over $200 to sand and polish the wheels to look like new again. I passed and just lived with it.
The only nice thing about the tire warranty was a pro-rated return of a portion of the policy's cost when you elected to terminate the warranty prior to its expiration.
Having seen the 1st and 2nd Republican debates, I now rule out three of the Republican contenders. They are NOT presidential material. While they offer interesting perspectives, some of their ideas are too radical, and their personalities are NOT reflective of mainstream America.
NOT a great president for the USA = RON PAUL NOT a great president for the USA = MICHELE BACHMANN NOT a great president for the USA = RICK PERRY
Yes, I think we're going to lock in a rate. Dealer came back, said bank may go down to 2.3 if we borrow big. Why not, we're too big to fail so if we're in danger of defaulting, the gov will bail us out! Besides default on the car loan, lose the car. Default on the HELOC, lose the house!
Tag: "Evil" was always tongue in cheek. "Lovely" was always true! Same wife, as of this writing. Of course, no warranties, either expressed or implied are being offered...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Agree on Paul, Bachman, and Obama. I think the jury is still out on Perry. His choice of words was not the best, but who thinks SS doesn't need some changes going forward ? He was careful to say that no changes for people already on, or about to be on SS.
I also agree with Perry that we should not commit billions to stop possible man made global warming. That money is needed elsewhere.
If Cain could restore Godfather's to its original glory, I would give him a look :shades:
The SS issue is an eye for the obvious. Nobody will claim something won't have to change. But those doing the preaching won't be sharing in the sacrifice...
I don`t see any really worthwhile substitute for Obama-----Whomever has to be better imo......Not a good spot to be in--for me--
Here in S C which is conservative---the Tea Party, which I am not taken with. is popular, so I would imagine the most conservative will run strongly...
In western N C it is definitely Tea Party or even more conservative.....I have always found it strange for and definitely peculiar for a group of very wonderful self reliant people to be so conservative...but that is the way it has always been.
Miami is such a melting pot , it is hard to really get a feel....They were definitely more liberal Republican, but I wouldn`t be surprised which ever way they went...
For me it has been a shame Obama`s team has done so poorly--and their priorities so backward----Tony
Obama can be eloquent...as long as he has a script and his teleprompter. I would love to see him field a few of those tough impromptu questions from someone like Hannity or Rush... but he avoids those situations like the plague.
It's interesting, and has been mentioned here that seems to be true for other areas by observation, that in our neck o' the woods while I know a bunch of folks who have lost jobs (but not homes/cars/tuition as far as I know), throughout this recession the malls/restaurants/stores we visit always seem quite busy. Wife and I always wonder about the recession in the Greater Boston area. But, we do know it is real. Maybe us New Englander's are just good savers for a rainy day?
Wife spoke to the Bimmer dealer yesterday, got 2.3% fixed for 60 months. She grabbed the tire/wheel insurance, didn't negotiate. I had emailed the F&I guy regarding the price, he didn't get back to me before the deal was sealed. No biggie in the grand scheme of thing....hopefully!
Next up: College tuition for my daugther. And maybe a new Jag XE (CX-16 concept) for me! Well, tuiton definately.
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Things were going OK for me with the markets this morning, in spite of a down market I was in the green due to my work all week, but then "HE" showed up AGAIN. Immediately, everything went out of control, and the red was flowing faster than I could contain it. I dumped everthing at a terrible decline, and then saw that it would have been even WORSE had I stayed in longer.
It's absolutely unbelievable to me. Doesn't he know that if he speaks the market will go in the dump? Well, actually he does know that and yet he continues to show up right in the middle of a market session. HE HAS AN AGENDA, and it's a dangerous one.
This president is the WORST president to ever happen to the United States. Period.
He is a threat to our national security, and he should be impeached as soon as possible.
I think Europe is a bigger part of today's woes than Barry - the cabal of cowardly global bankers and the top percent of questionably obtained wealth are very connected. Some might overestimate Barry's power.
I think Europe is a bigger part of today's woes than Barry - the cabal of cowardly global bankers and the top percent of questionably obtained wealth are very connected. Some might overestimate Barry's power.
No doubt that Europe was the main reason that the market was in negative territory, but there is no disputing that the very moment Obama showed his ugly face, the markets literally went off a cliff. Horrible reaction to Obama.
Comments
That's why I sold most of my positions yesterday, and additionally in extended hours and pre-market hours. I left myself with only 5% of my original positions, and now I have been building an entirely new base as the market is offering me the same stocks, but at a much better price point than what I sold them for. I am slowly buying with each dip.
This is the strategy that I had used and posted about previously, and it worked very well with the last round. I hope it works again. I'll post my progess.
TM
I'll have to watch the rerun later on CNBC to catch what he was saying.
Anyone else catch it and have an interpretation?
2014 Malibu 2LT, 2015 Cruze 2LT,
I've had plenty of experience with fast-trading ETFs, as you recall. Some of it was very good, but a whole lot of it was very bad.
I will be interested to see what Cramer has to say, and then I'll come back here and comment on it.
TM
The main complaint that he has regarding ETFs is regarding those that leverage or short the market in multiples, such as a double or triple short ETFs. He didn't name any names of these funds, but the ones I am familiar with are QID (double short) and QLD (double leverage), as examples. There are others, of course.
He also discussed the high speed algorithmic manipulation that I was posting about here recently... and he mentioned that there is no watchdog in place to protect homegamers, and that we all need to be extremely careful. He suggested that we NEVER place a market order and only use limit orders when buying or selling shares. Also, he repeated his recommendation for diversification of up to 10 stocks as the highest number of stocks to own, with one of them a speculative stock, and the importance to include dividend paying stocks.
He mentioned spending one hour of homework and research per week per stock owned.
IOW, he re-hashed the same stuff as usual.
TM
GREAT TIMING! Just when the economy and the banks are holding on by a thread, the decision is made to sue the banks. More stupidity... and much more is on the way next week.
Also, today's jobs report was the worst EVER since the great depression.
In addition, the latest compilation of data is now VERY similar to the data during the 2008/2009 financial meltdown. And what makes this worse than 2008/2009 is that the banks aren't in failure mode as they were then... although the government's expected lawsuit against the banks will certainly give them a serious blow.
Absolutely unbelieveable.
We still have over a year before Obama can be removed, and we are already on the edge of the cliff... from which there is little chance of any recovery in our lifetime. Not only in terms of the economy, but this administration has caused the situation in the Middle East to be MUCH closer to a disaster of epic proportion, which will potentially have unimagineable political, economic, and social consequences unlike anything this country has EVER seen.
Frankly... I am terrified of this president.
TM
Don't you know (to paraphrase her) ...."this administration has enabled the creation of over 2 million jobs from the private sector in the last several months, more than any other period in the previous administration".
Hmmm....I didn't know that.
She blames the current situation on those "on the other side of the aisle not wanting to negotiate".
She went on to say that we "this Labor day we should celebrate the hard working individuals who are looking for jobs ".
What a bunch of moronic el toro poo poo :sick: .
The jobs ideas for this super important talk at the Congress is going to be spending government money to keep the spending amounts up so BO doesn't get two quarters of downward GDP which signifies a recession _before_ the election. After the election that's what He wants to try to break the economy more to redo US as He wishes.
2014 Malibu 2LT, 2015 Cruze 2LT,
Just read an article why so many illegals file Federal Income Tax returns. To get EIC or money back. 800,000 illegals in California filed Federal Income tax returns in 2010.
NO WAY he can say or do anything in 9-12 months that will change things in time. The GOP needs to keep generating solutions that will ensure buisnesses will invest.
Regards,
OW
2013 LX 570 2016 LS 460
That's done to be sure they'll vote democrat in the next election. It's okay. We don't want to require following the law at the borders nor in the IRS system of refunds.
I figured out a few years back when most of urban Dayton was flooded with billboards about how the tax preparer could get them refunds even if they paid no tax withholding that there was a game on.
2014 Malibu 2LT, 2015 Cruze 2LT,
They also have to convince the American public that they are not the obstacle(s) standing in the way of progress. They have to win the propaganda campaign of which the Democrats seem to be more proficient.
The opposition party (republican) has to not only come up with someone I can believe in, but also a program that we can believe in...If they fail to do that, then I will take the `lessor of two evils`.....Not a nice position to be in, and very disappointed .
On another subject, the un employment is something that is not what it is being reported...The system is very deceptive, and there is `almost` a system that is too generous for too long a period....Almost not making the effort to find `work` is a bonus....
Further it just does not make sense to be bringing the lawsuits against the banks at this time, and letting the computer driven trading go on and on...Someone needs to get their priorities in order
Speaking of `priorities` I hope Tagman improves his house to his liking...Now that makes `sense`........:).....Tony
I am afraid that TARP and the events that led up to it, as well as the bank's bahavior after it was enacted, have proven beyond a doubt that many of the major banks are sinister at best.
While filing suit against them is justified, it is not in anyone's best interest at this time, unless the suit was an attempt to modify their credit policies instead of an excuse to get TARP money back... which the banks took, but never really extended in the form of credit, as was planned and agreed, and expected.
Essentially, after the massive multi-trillion dollar TARP bailout, constructed to inject massive capital & credit into the economy through the biggest banks, the banks really didn't pass the money on into the economy! So, should they be sued? Oh yes!... But not at this point in time.
The dilemma is that the banks are an important part of the solution. Sure, jobs is the number one focus, but even if there was full employment, we'd have an economic disaster because the banks have poison assets and kept the TARP money, and if there is insufficient credit, any hopes for an economic expansion is handcuffed by those banks.
No wonder the government wants to sue them. I'd also like to sue them... and hang a few of their overpaid [non-permissible content removed] for the mess they made that led up to the financial meltdown that crushed our economy, and we are STILL limping along, and will continue to limp along for many years to come. Yes, I'd like to have a few minutes in the ring with those bankers. I'd use a chainsaw instead of boxing gloves, and that would be too nice, when I consider what they did to our country and millions of American workers and American families.
Regarding the stock market, I've said this before and I'll say it again... The stock market is a new game with new rules. It is NOT the same as it was, and everyone should understand and accept, otherwise potentially at their financial peril, that they can lose large percentages of their investments if they are not careful... the HFTs and the machines are armed and dangerous and their sole mission is to suck every possible dollar from you out of the market. The volatility is not so much about fear... it is by design... with a single goal.
Lastly, I want to say that the economy we all see in the stores and restaurants and the economy that exists behind the curtain are NOT the same. There is SERIOUS trouble and everyone should not forget that time is running out, and our politicians are stuck in an upcoming election year. Obama is stupid and helpless, and the Republicans want him to fail in order to gain the Presidency back. So, don't expect much from Washington.
Be prepared. War doesn't have to be fought with bullets and bombs. It can be an economic war. Our country can be defeated by shattering our fragile economy. And, what kind of "defense" or "national security" measures do we have in place to protect us from that?
TM
The shame of it all is that everything could be fixed if all the politicians would concentrate on the problems instead of getting re-elected while playing to their political bases and lobbyists. They all know what the problems are and how to fix them. EVERY ONE of them should be kicked out in 2012 on principle alone.
I am hoping that all these problems have awakened Middle America and some real progress can be made next year.
2013 LX 570 2016 LS 460
There was a good article in Bloomburg, about a guy I think named Rogers---at Goldman---Sort of gives us a view of the inner workings..
I still continue to see good activity on an everyday basis---people still ambitious , and are active....
Tony
What's that family fortune worth today? Sinister at best, indeed.
Last Friday, I focused on building a new low base, and this morning I continued with that strategy. There is potentially and small temporary "cost" to build the base, but it is worth it because when the market turns positive the profits can be amazing. This is the same strategy that brought me all the way back to (and above) my former portfolio highs last week. It is working again today. For example, in today's dramatically down market, I am actually up thousands of dollars today.
The ONLY reason I am sharing this information with all of you is that I want you all to know that there seems to be a way to beat this screwed up market. I worked hard at learning and applying quite a few different strategies, as Tony pointed out recently, but this is the one that I am sticking with. It works.
I have also watched how the market often changes direction shortly after it opens, and that it's an opportunity to take advantage of that change of direction. Also, take a close look at how the last hour trades. It is often extremely active, and there are often all kinds of opportunities in that last hour.
FWIW...
TM
Good tactic.
TM
I just posted what my experience was, and further the phone or internet was a total failure....Holding for quite long periods of time and then speaking or typing to the wrong department......That just really ruined numerous afternoons, and I never thought to just go by a store.....I wanted so share my `luck`with the gang, for incase anyone had a similar problem
Maybe with more people getting back to work, from summer vacations etc. the computer generated trading will get knocked back, and maybe the SEC will do it`s job?? Just a thought
We just bought a new '11 BMW 535xi for the fabulous wife, with the Radial Spoke (Style 237) 18 x 8.0 light alloy wheels, 245/45 run-flat all-season tires (base setup). Thinks I got a decent deal, will probably sell a bunch of my limited stock portfolio (so severely diminished) to pay for it...
Anyway, offered the 5 year BMW Tire Protection package for $1267, my initial reaction is thanks, but no (self insure). Your thoughts? Have a couple of days to think about it, new to run flats and have read here and there that the wheels seem to be (relatively) easily damaged. I'm a bit less worried about the tires as the wheels.
Any and all input appreciated!
Regards,
Laurasdada, proud to continue to keep the economy humming along by purchasing two cars in the last three months!
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
What recession??
RFT's worked for me (got a 0 pressure situation for 100 miles but not an issue!) Actually got a second set free because the BS's on the'06 had issues and the dealers changed out many to Contis back then until BS got it corrected. Yes, the wife needs to stay AWAY from the curb...FAR AWAY!! They look great but your finger nail could scratch them!
Regards,
OW
Brick S...House
Invest Wisely.
Regards,
OW
Actually, for almost any price.. It would have to be sub-$500, for me to even think about it...
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There is a recession, my bank account and net worth are recessing quite nicely! But my garage is getting happier! Sorry RX300, no garage for you! Of course, I'll be driving it this winter...
5'er is Tasmin Green, unique color, wife likes it. Too many black, silver and gray variations on the road. Although Space Gray was my first choice. Of course, my choice, in her eyes, is no choice...
She deserves it, lovely car for a lovely person.
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Gotta see if curbing the wheels, if damaged, would be included in the warranty package. Or just "road hazards," which I'll want fully defined.
Oh, yeah. Another electrical gremlin for the Jag: Nav system has flaked out. Started shutting down every time I entered a destination, took two or three tries to enter, but it worked. No longer, now I'm stuck in Washington, DC, can't program any other location! And, the AM radio might be on vacation again... But, no critical system failures and I totally expected electrical gremlins. Warranty, loner car. But, come the end of warranty, I may have to set the feline free! To roam, unfettered amongst the common, proletariat hoi polloi of the mainstream automobile backwater! And, then I'll buy a Kia...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I drove the touring model of your new BMW in Germany last year, nice comfy ride, BMW makes great seats.
I don't have runflats, but we now have 10 total years of driving on BMW wheels w/low profile tires.... and, not one bent or cracked rim..
(Actually, we have one with runflats, but only for the last four days, so I'm not counting that one..)
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Now, trying to figure out how we want to pay, bank will loan at 2.39%, HELOC at (currently) 3%. Might split between the two, lock in a pretty good apr (60 months), take advantage of the marginally better tax adusted rate of the HELOC. Both, of course, with no pre-payment penalty although the bank wants a $75 processing fee...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
2013 LX 570 2016 LS 460
It was either $799 or $999, I think.... but, we were just doing a 24 month lease, so definitely not worth it..
If you can lock in 2.39%, I'd take it, and not worry about the tax deduction.... In two years, that HELOC could easily be at 5% or more (not that I'm predicting...).
If you have cash earning 0.50%, I'd use that... .LOL
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On an Infinti (tire warranties are not car-specific, rather company specific) I had the warranty and curbed one of the wheels. The policy only essentially covered trashing the wheels in a major car wreck. It would have cost over $200 to sand and polish the wheels to look like new again. I passed and just lived with it.
The only nice thing about the tire warranty was a pro-rated return of a portion of the policy's cost when you elected to terminate the warranty prior to its expiration.
...She deserves it, lovely car for a lovely person.
Well, well... looks like the situation has changed from the "evil" wife to the "fabulous" wife and "lovely person". :surprise:
Seriously, congrats on the new car!
... and congrats on the new wife (or new description of the old wife).
TM
Having seen the 1st and 2nd Republican debates, I now rule out three of the Republican contenders. They are NOT presidential material. While they offer interesting perspectives, some of their ideas are too radical, and their personalities are NOT reflective of mainstream America.
NOT a great president for the USA = RON PAUL
NOT a great president for the USA = MICHELE BACHMANN
NOT a great president for the USA = RICK PERRY
And, of course, from the Democrats...
NOT a great president for the USA = BARACK OBAMA
TM
Tag: "Evil" was always tongue in cheek. "Lovely" was always true! Same wife, as of this writing. Of course, no warranties, either expressed or implied are being offered...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I also agree with Perry that we should not commit billions to stop possible man made global warming. That money is needed elsewhere.
I am still fascinated with Herman Cain.
2013 LX 570 2016 LS 460
The SS issue is an eye for the obvious. Nobody will claim something won't have to change. But those doing the preaching won't be sharing in the sacrifice...
Here in S C which is conservative---the Tea Party, which I am not taken with. is popular, so I would imagine the most conservative will run strongly...
In western N C it is definitely Tea Party or even more conservative.....I have always found it strange for and definitely peculiar for a group of very wonderful self reliant people to be so conservative...but that is the way it has always been.
Miami is such a melting pot , it is hard to really get a feel....They were definitely more liberal Republican, but I wouldn`t be surprised which ever way they went...
For me it has been a shame Obama`s team has done so poorly--and their priorities so backward----Tony
2013 LX 570 2016 LS 460
It's interesting, and has been mentioned here that seems to be true for other areas by observation, that in our neck o' the woods while I know a bunch of folks who have lost jobs (but not homes/cars/tuition as far as I know), throughout this recession the malls/restaurants/stores we visit always seem quite busy. Wife and I always wonder about the recession in the Greater Boston area. But, we do know it is real. Maybe us New Englander's are just good savers for a rainy day?
Wife spoke to the Bimmer dealer yesterday, got 2.3% fixed for 60 months. She grabbed the tire/wheel insurance, didn't negotiate. I had emailed the F&I guy regarding the price, he didn't get back to me before the deal was sealed. No biggie in the grand scheme of thing....hopefully!
Next up: College tuition for my daugther. And maybe a new Jag XE (CX-16 concept) for me! Well, tuiton definately.
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
Things were going OK for me with the markets this morning, in spite of a down market I was in the green due to my work all week, but then "HE" showed up AGAIN. Immediately, everything went out of control, and the red was flowing faster than I could contain it. I dumped everthing at a terrible decline, and then saw that it would have been even WORSE had I stayed in longer.
It's absolutely unbelievable to me. Doesn't he know that if he speaks the market will go in the dump? Well, actually he does know that and yet he continues to show up right in the middle of a market session. HE HAS AN AGENDA, and it's a dangerous one.
This president is the WORST president to ever happen to the United States. Period.
He is a threat to our national security, and he should be impeached as soon as possible.
His jobs "plan" is a disaster.
I pray he is gone as soon as possible.
TM
No doubt that Europe was the main reason that the market was in negative territory, but there is no disputing that the very moment Obama showed his ugly face, the markets literally went off a cliff. Horrible reaction to Obama.
TM