That is not really accurate. Last I read only 45% of able bodied Americans have a job. I do believe if you are working or retired with a decent income, the recession is hard to see. If you don't have a job and have lost your home it is a full blown Depression. The 9.1% unemployment is a meaningless number.
Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record.
That`s what he said, and he is a believable person....I do think that any group of people can twist any statistic to suit their point of view
For you and I , no matter what, there are alot of productive people, and they are doing well, and the hard times are relative---and at least for my adult lifetime they have always been there---Some people whom you would think to be having a financial `hard time` live very well with very few problems, such as paying for electricity , food, etc, and they are happier than alot of the people who live in the urban environment..Strangely God takes care of His own -- Thank Goodness-- Tony
Real unemployment is always higher than the feel-good media propaganda, this is nothing new. I would say a good benchmark is 40-50% higher. Add in underemployment and we're probably around 20% total.
I see foreclosures keep flying along...how or why is anyone still buying?
Well if it doesn`t FEEL right to you, don`t do it...Common sense is very important to making worthwhile decisions , and remember a balanced approach -- not too timid, or too bold ...Tony
I see foreclosures keep flying along...how or why is anyone still buying?
I am looking for the rate of foreclosure to peak late this year or early next. There is a backlog of bank owned properties that is unreal. Homes are selling at fire sale prices. Those making out are playing hardball and not giving the bank an inch. The house I was watching sold for $330k. I would have paid $250k cash not a penny more. It sold in 2005 for $698K. Looks like WAMU (Chase) was on the hook for just under $600k. Buying for 50 cents on the dollar seems about right for San Diego. I was just looking at property in Long Beach WA. The sellers are still in denial. Not much moving there. What has sold is well below 2006 selling prices. Most sellers have not lowered their prices. Many have been on the market well over a year or more. Oregon and Nevada were not a buyers market either. Carson City area seems to be doing quite well. Hardly any homes on the market below 2006 prices. And they seem to be selling at a decent price. Homes that sold in the low $100ks during the boom seem to be selling in the same range. Unlike Las Vegas and southern NV. The real bargains are in the greater Phoenix area IMO. You can buy a dandy house less than 5 years old for under $100k. Cannot be built new for that.
SW WA is an area that will never boom again, even on the oceanfront. No industry, local population without a lot of education, pretty significant drug problem and other social ills, low amenities, and a general culture for the youth of those who can get out, do get out. A lot of this has been there for eons, exacerbated by the decline of the timber industry. Much of Oregon is in the same boat, Portland seems to be in worse shape economically than Seattle right now. Maybe a place like Carson City never really went crazy during the false boom, so it hasn't had reason to collapse.
You have a good understanding of SW Washington and pretty much ALL of Oregon...
Oregon consistently shoots itself in the foot with it's anti-business climate.
I don't follow Portland much, but here in Lane County(Eugene area), the hand-wringing is continual, yet they are too obtuse to see that their policies drive out business. The timber industry is basically dead, and this whole region is entirely dependent on federal dollars to make up for the lack of timber receipts.
Again we witness the dangers and pitfalls of extremism.
I have always been amazed at how there has been so much conflict between the idea of protecting the environment and the implementation and growth of business.
History has indeed proven without a shadow of doubt that industry and business, particularly some more than others, can seriously damage and/or threaten the environment and/or human health. We've seen some of the terrible damage. And, history has also proved that too much control/protection/manipulation of nature can be incredibly dangerous to the environment.
There is absolutely no reason why business can't operate with nice profits, and still maintain a healthy and appropriate respect for the environment.
It is idiotic to act as if the environment will simply fix itself automatically no matter what we do to it. It is equally idiotic to think that all industrial progress is dangerous for the environment and that it can't operate with a healthy respect for the environment, which it can. But, because it hasn't always done so, the extreme environmentalists over-react in an irrational manner.
Also, consider that environmental clean-up and protective businesses are an industry unto themselves and that's a good thing, IMO. The company, Waste Management is a prime example of the success of recycling, for example. Industries that produce methods to eliminate specific toxic byproducts of manufacturing are another example. The benefits of industry/business progress are sometimes nearly miraculous and it is actually environmentally stupid (by extreme environmentalists) to thwart such incredible advancements to our civilization.
Extremism on both sides is wrong, and it is about time, IMO, that we see a mutual respect and balanced co-existence. Extremism hurts everyone in the long run.
I am positive that there can be, and should be, a "win-win" situation, whereby industry/business and the environment can mutually flourish.
I like your optimism... like I have always said, "Fair and balanced".
A good week for the market. I did well, but mostly by accident. I have decided that I can't out trade the professionals so I haven't bought or sold anything for about 2 weeks.
I like my current mix where I can catch a crumb or two so I am standing pat, about 50% invested.
The market has been great all week, but I pulled down the positions yesterday... to about 50%, like you. I can't shake the fear that we could be subjected to another round of negative junk, especially after 5 straight days of upside.
Most of my positions have performed well, such as AAPL, AMZN, ARMH, XOM, C, and others... but I did take a nasty hit on Sprint yesterday. It was down quite a bit, so I bought a huge position, expecting it to balance itself out, but then it plunged... down around 7%!... and I saw that as a great opportunity, but I had reached my limit, and I was starting to bleed to death so quicly with no ability to do anything, and no understanding as to why it was happening... so I had to cut the losses before they became potentially catastrophic.
The whole mess took a nasty slice out of my whole week's gains. But, crazy as I am, I still kept a fairly large position because the average share price became quite low, and it was then announced that the government's case against the AT&T /t-Mobile merger had gotten stronger, not weaker, and then Sprint shares finally started to respond to that good news and gained back some ground.
I have no idea what next week holds for the stock. I truly figured it to be ripe for a huge gain, as long as the AT&T/t-Mobile merger doesn't happen, and they are supposed to get the iPhone next month.
I was just through the center of Oregon including Eugene. My wife has a school friend that was in the process of moving from Sutherlin back to Eugene. They sold their home on the golf course there and bought on a golf course in Eugene for $150k less than they sold their Sutherlin home for. They got bored living in the middle of nowhere and playing the same course 2-3 times a week.
We stayed at the Oregon Garden Resort in Silverton. They have an internet special of $99. Very nice rooms and it includes dinner and breakfast. We had the filet mignon dinner with a complimentary bottle of wine, it was good. The dinner for two would have been $99. Best bargain on the trip. Plus the gardens are all included.
I like Oregon, though I am looking for a state with no income tax. Tired of paying 10% in CA. Tired of supporting illegals that are voting in the same lame Democrats that are bankrupting the state.
Nevada and TX have no income tax. Hawaii does not tax defined pensions. They also have low sales tax and property tax. Living along the Washington/Oregon border may offer a good tax result. Many of the places that are good to retire, are not good places to work.
Yes the air was hazy when we stayed in Silverton. By the time we got to Medford it was not as bad. Lake Tahoe and the Carson Valley were real nice. 70s during the day. 50s over night.
Right now I have no clear picture of where I would invest in real estate. Maybe buy one of those cheap houses by Steve in the UP of Michigan. Wait for the autoworkers to start buying summer places again. :shades:
I have spent some of my life in the region...and I will just say I got out :shades:
My mother and brother live in a part of the state (not terribly far from where Gary visited) where conditions are poor and will likely never really improve. For my mother it isn't bad, she is going into semi-retirement anyway, housing is cheap, she has many friends and doesn't really like the bustle of a large population center. It was a prosperous logging town, once, population greater 90 years ago than today. It was in decline even before the spotted owl, but when that stuff hit the fan about 20 years ago, the final nails went into the coffin.
Oregon seems even less optimistic...at least WA has Seattle to save it economically...Portland has it rougher, unemployment numbers show it. When some airlines stopped running service there, it was apparent to me there were problems. Then again, I look at some "right to work" states where it is no better. I think these places might be indicative of the future of smaller town USA as a whole.
WA does have high sales taxes, gas taxes, general property taxes, etc. There's no way to win. Social service sector is also becoming a huge drain , problems exported from south of here. Living on the border could work...pretty much why Vancouver WA exists, I think.
For me it is interesting to hear directly from people who live on the other side of the nation Their thoughts and aspirations....It ties us all together Tony
In some ways, the "American experience" is similar for many of us - with all the diversity of the US, there are loud similarities. And most of us can say we like our own corner of the country compared to most others.
I bought my dream retirement home -- cheap! Taking advantage of today's beaten down home prices and record-low rates, baby boomers are buying their dream retirement homes -- years before leaving the workforce.
Fortunate enough to take advantage of today's beaten down home prices and record-low interest rates, some baby boomers are buying their dream retirement homes -- years before leaving the workforce.
"We're seeing people purchasing homes five, six, seven years or more ahead of retirement," said William Filbin, a Re/Max broker in Marco Island, Fla.
It's an opportunity that's hard to resist: Home prices nationwide are down 32% from their mid-2006 peak, according to the S&P/Case-Shiller home price index. Meanwhile, mortgage rates are at historic lows with the 30-year fixed-rate hovering around 4.2%.
The question is: What to do with the property when you have so many years to kill before retirement?
To help cover the expenses of an extra mortgage and other bills -- like utilities and property taxes -- some pre-retirees are renting their homes out on long-term leases; others who bought in vacation hot spots rent to vacationers, said Mike Sannes, a Keller Williams broker with Big Bear Real Estate in San Bernardino County, Calif.
It doesn't always cover all the costs, but it helps.
Here are six couples who decided to take advantage of today's market in order to get their dream retirement home now.
That's something I have thought about...I can't legitimately afford any decent house within a reasonable commuting distance of where I work, but I can afford something nice elsewhere. Maybe should do it for the future?
My dream retirement home would be on Lake Zurich or in the Bavarian Alps or something, so that's not going to be a similar option :shades:
Nothing to say about your wonderful investment Man I thought this would be the day......I have way more than paid for the ipad---way more-- I`m going for a family of `computers` and a car next ....Greed Goose I am Tony
Nothinng to say about your wonderful investment Man I thought this would be the day
Hi Tony! I have been driving all day from Akron, OH to Des Moines. I was obviously jumping with joy when I heard on NCBC (Satellite Radio) that AAPL had (at that time) reached about $405. At the close, I called my broker and asked how AAPL had closed. When she said it closed about $411, I was astounded. There was no real new news or any major announcement. It is very impressive that AAPL sky-rocketed on a day when the Dow was down 108.
I have obviously not changed my mind about AAPL. I expect it to reach about $460 around the next earnings report on October 18 and above $500 in 2012. It seems like the sky is the limit for this company.
I am happy to hear that you made out like a bandit recently with this stock.
I have obviously not changed my mind about AAPL. I expect it to reach about $460 around the next earnings report on October 18 and above $500 in 2012. It seems like the sky is the limit for this company.
Thanks to YOU, Charlie... and your unshakable enthusiasm, many of us here have been making some great $$$ on this stock.
Here is some small but probably very significant news...this past Saturday at our local mall here in central NJ, the average crowd in late afternoon found most stores rather vacant...except the Apple store which was completely full. If the store was double the size, it would have been comfortable.
It looked like they opened that mall just for the Apple experience!
This tells us that future sales in this economy should be quite strong.
I was in Best Buy yesterday while my new tires were being installed. I checked it all out. I must admit the MacBook Air is mighty enticing. Both the 11.6" and the 13.3" are nice. In tablets I think Samsung Galaxy has set the bar with their 10" model. According to the very knowledgeable saleslady I visited with, all of the companies are ready to bring out new models at Christmas. The competition can only make them better. I also like the Apple wireless keyboard and touch pad. The store was not very busy as I spent at least 20 minutes with the saleslady. No one else much in the department. That may be a reflection of the time and day of the week. Best Buy does carry a lot of Apple products.
I know it is a long drive (680 miles to be exact), but I don't mind it at all as long as I am entertained with Sirius/XM. I am a sports nut, so yesterday I listened to a lot of the NFL channel (lots of great Patriots talk) and I listened to my beloved Red Sox choke another one to the lowly Orioles in the first game of a day-night double header.
In case I did not tell you guys before, my daughter and her family moved from Belleville, MI to Akron back in early May. I have made 3 trips there since then. I have all kinds of time now since I am retired.
Thanks to YOU, Charlie... and your unshakable enthusiasm, many of us here have been making some great $$$ on this stock.
TM, you know what we say in trading. You're only as good as your last trade .
I am very happy about all of us that own AAPL. I don't see how this stock can be stopped from reaching at least $500 by early next year. I suppose the only way would be if we slide into another severe recession. I know, I know. Some of you are probably saying we never emerged from the last one, but in my opinion, things are not that bad.
Here is some small but probably very significant news...this past Saturday at our local mall here in central NJ, the average crowd in late afternoon found most stores rather vacant...except the Apple store which was completely full. If the store was double the size, it would have been comfortable.
It's interesting that you mention this because back this past Sunday I was also at a mall in Akron with the kids and grandkids. The mall was not very crowded at all. However, what do I see as we are walking along the various shops? An Apple Store that was really packed. I went inside to get a hold of a salesperson but I had to wait a while. I asked him if he had any idea when the iPhone5 and the iPad3 would be released. I knew how he was going to answer even before I asked the question but i thought I would for the heck of it. He said, "you probably have more information on that than we do". It's just an example of how closed lipped the Apple folks are.
A few of the talking heads on CNBC have said the same thing.
IMO, it's a freight train.
Unfortunately, I only own 500 shares. If I go over that I won't be as diversified as I want to be. I am also hitting it big with a couple others, such as CAT and XOM due to my low cost per share... and, I am building positions on a few others that could explode to the upside soon (hopefully).
If the iPad3 incorporates a USB connection (and I think it very well might), I am a buyer.
Also, my family has already told me they want an iPhone5.
Bought my son the latest powerful version of the MacBook Pro. WOW! I've been using it when he is in school, and it is awesome... I am especially amazed with its capabilities with music composition/mixing/recording.
If only Scotttrade Elite could run on a Mac. Darn. The only way it might run is by using a Boot Camp program (I think something like Fusion 4 or Parallels 7), but I am not that confident in using a Windows OS on the Mac, as it is less secure than the Mac OS, and I wouldn't want to jeopardize a Mac.
Say folks, why has Netflix been collapsing like it's going to zero lately? I have not been paying any attention to it, so I'm wondering if those of you in the know with this stock will provide me with the scoop. Maybe it's a great buy now.
Because of a pricing decision a few months ago that essentially raised prices for the existing combined DVD's by mail and streaming by 60%. In response, they lost close to 1 million customers in that time - 4% of their customer base.
They responded yesterday by saying they screwed up so they decided to rename the DVD's by mail Quickster and change Netflix to streaming only. Pricing did not change.
IMHO, they are trying to get out of the DVD by mail business and are willing to alienate that customer base which probably isn't profitable. IIRC, 25% of the DVD's they send out never come back or are damaged upon return.
I've been a netflix subscriber since the late 90's, but I'm considering dropping them altogether.
Their main problems is the DVD mail service is not very profitable with the cost of mailing etc. and their streaming selection is lacking with new releases. Losing Starz doesn't help either.
Plus my cable provided ISP has bandwidth issues during peak hours making streaming an issue.
Netflix is fighting a battle with the content and network providers. Obviously the cable companies are not on their side considering they are competing in the content space and placing huge demands on their networks.
Then add competition from the likes of Redbox and online providers like Amazon and Hulu etc.
Because of a pricing decision a few months ago that essentially raised prices for the existing combined DVD's by mail and streaming by 60%. In response, they lost close to 1 million customers in that time - 4% of their customer base.
They responded yesterday by saying they screwed up so they decided to rename the DVD's by mail Quickster and change Netflix to streaming only. Pricing did not change.
I see now said the "blind man". Your info is much appreciated.
Their main problems is the DVD mail service is not very profitable with the cost of mailing etc. and their streaming selection is lacking with new releases. Losing Starz doesn't help either.
Plus my cable provided ISP has bandwidth issues during peak hours making streaming an issue.
Netflix is fighting a battle with the content and network providers. Obviously the cable companies are not on their side considering they are competing in the content space and placing huge demands on their networks.
Then add competition from the likes of Redbox and online providers like Amazon and Hulu etc.
Wow! I had no idea they have all these problems. My mind has been totally consumed by AAPL Just recently, we added a much faster internet speed at home and I was considering signing up with Netflix.
They've spent almost $500 million more than cash flow since 2007 buying back their stock.
They are also starting to see competition from Amazon and Google and I'm sure that torrents also affect them as their more voracious users are probably tech savvy and can bypass them to watch what the want for free. Further, I wouldn't be suprised to see the studios invest in the technology to go direct to the consumer with streaming products.
It was a STUPID decision. The DVD side of the business would have naturally decreased over time on its own.
They shot themselves in the foot.
As far as the stock being a good buy, I think netflix is still entrenched fairly well, and the name is well-known. Others may offer the service, but Netflix is in a good competitive position, IMO. They need to make sure they can be price-competitive as they move forward.
The stock has been severely punished, and I may be alone on this, but I think the stock is worth watching. If it goes much lower, I'd be very inclined to step into the shallow end of the pool. Unless you think Netflix is going to throw in the towel, there is merit to considering the stock when it has been sooooo severely hammered to a pulp.
It was always a bubble IMO so this collapse doesn't surprise me at all. Basically streaming is buying the low end of the DVD market (effectively the middle isle of blockbuster) IMO and to raise prices as they did in an economy like this was suicidal. But I think they looked at the stock price and their pricing and the only gamble they had to maintain a near 100x multiple was to gouge their customers. It's as if Walmart raised prices across the board 25%. Netflix offered itself as the low cost alternative in developing its customer base and then suddenly they want to go from Target to Sach's. Netflix also never had a good cash flow. A lot of their earnings IMO were based on accrual based concepts that I am sure their auditors had a hard time with. Note the huge jump in payables from 2009 to 2010. Also Starz dumped them and that is going to hurt in about 6 months.
I'd also be wary of Amazon. A state sales tax on them is going to be punishing. But IMO a much more solid investment than Netflix.
Apple - still seriously undevalued but so widely held. How do you possibly sell Apple in a market like this. It's in it's own investment class.
Overall market - not seeing many earnings warnings so Q3 may be better than anyone is expecting.
Love the optimism... but... I am concerned that there is something very wrong with the global banking situation that is so serious it could have a major impact on all of us.
It is very realistic to consider that the insiders that know the true nature of the situation are being extrememly careful to keep the world in the dark, for obvious reasons... the resulting panic would have a massive impact upon world markets and banks would not be able to handle the impact.
It is very possible that while life appears normal in the malls and restaurants in some parts of the country, the underlying truth could be that we are on the brink of a serious global economic meltdown. In spite of all attemplts to solve it's problems, Europe continues to edge closer to a major economic collapse. It is ridiculous to think that the US wouldn't be severely impacted.
In addition, our domestic situation must be pretty bad, considering the Fed's behavior and comments. No matter how anyone spins it, our economy is messed up, and we have a government that is unlikely to accomplish anything at all until after the election. We have no leadership.
The global political situation is as dangerous as ever.
Our nation is still incredibly dependent on energy.
Many of the world's banks are on the brink of disaster.
There are so MANY things going wrong at the same time.
What's going to prevent all these problems from having a serious impact? The few bright stars out there, one known as APPLE, are simply not enough to save the world from it's systemic problems.
As of today, I'm back out of the market for now... to re-think my approach... and I expect to see new lows before the end of the year.
We are in the middle of September, and usually things are looking very `black` at this time of year...Of course October follows and usually that scares everyone....
I`m not being flippant, as I`m spending more and more time pondering what if anything to do, and it is not pleasant for me......One thing on my `income` producing side of things, is I am not buying anything for yield that doesn`t pay out monthly.....Just too much can happen on a quarterly basis, and the computers have it all figured out, so they profit in a big way....Just stupid of me to think otherwise.
Everyone`s opinion on this `site` has had an influence on me is some ways, and has enabled me to change --ever so slightly-- for different situations......I hope everyone else has benefited as I have.
Unfortunately `luck` is a big part of my trading strategy...Just as I followed the `old path` in buying aapl.....It went up twenty or more points very quickly, so instead of being the `greedy` one, I fooled myself and instead of buying more, sold what I had---and then just stepped back and did NOT give the gain back.......Now I might miss it, or I might get another chance to establish a position, but I`m satisfied with what I did, and NO I didn`t make enough to buy a car, but I sure got enough to pay for the ipad and my wife`s also--after taxes ......My wife really loves it as she is coming from an old Dell, and I also enjoy it more and more as I learn how to use it....Tony PS what a company
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Depression: When you lose your job.
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That is not really accurate. Last I read only 45% of able bodied Americans have a job. I do believe if you are working or retired with a decent income, the recession is hard to see. If you don't have a job and have lost your home it is a full blown Depression. The 9.1% unemployment is a meaningless number.
Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record.
http://www.usatoday.com/money/economy/employment/2011-04-13-more-americans-leave- -labor-force.htm
For you and I , no matter what, there are alot of productive people, and they are doing well, and the hard times are relative---and at least for my adult lifetime they have always been there---Some people whom you would think to be having a financial `hard time` live very well with very few problems, such as paying for electricity , food, etc, and they are happier than alot of the people who live in the urban environment..Strangely God takes care of His own
The unemployed rate is much, much greater than 10%.
Many people are underemployed even among those who are employed.
This is true in Ohio.
The banker seemed to have rose colored glasses.
2014 Malibu 2LT, 2015 Cruze 2LT,
I see foreclosures keep flying along...how or why is anyone still buying?
You're right.
No one knows for sure what the future holds.
My annuity counselor worried me with his conservative recommendations.
2014 Malibu 2LT, 2015 Cruze 2LT,
I am looking for the rate of foreclosure to peak late this year or early next. There is a backlog of bank owned properties that is unreal. Homes are selling at fire sale prices. Those making out are playing hardball and not giving the bank an inch. The house I was watching sold for $330k. I would have paid $250k cash not a penny more. It sold in 2005 for $698K. Looks like WAMU (Chase) was on the hook for just under $600k. Buying for 50 cents on the dollar seems about right for San Diego. I was just looking at property in Long Beach WA. The sellers are still in denial. Not much moving there. What has sold is well below 2006 selling prices. Most sellers have not lowered their prices. Many have been on the market well over a year or more. Oregon and Nevada were not a buyers market either. Carson City area seems to be doing quite well. Hardly any homes on the market below 2006 prices. And they seem to be selling at a decent price. Homes that sold in the low $100ks during the boom seem to be selling in the same range. Unlike Las Vegas and southern NV. The real bargains are in the greater Phoenix area IMO. You can buy a dandy house less than 5 years old for under $100k. Cannot be built new for that.
Oregon consistently shoots itself in the foot with it's anti-business climate.
I don't follow Portland much, but here in Lane County(Eugene area), the hand-wringing is continual, yet they are too obtuse to see that their policies drive out business. The timber industry is basically dead, and this whole region is entirely dependent on federal dollars to make up for the lack of timber receipts.
HUG THAT TREE!!!
SAVE THE SPOTTED OWL!!!
:sick:
:lemon:
I have always been amazed at how there has been so much conflict between the idea of protecting the environment and the implementation and growth of business.
History has indeed proven without a shadow of doubt that industry and business, particularly some more than others, can seriously damage and/or threaten the environment and/or human health. We've seen some of the terrible damage. And, history has also proved that too much control/protection/manipulation of nature can be incredibly dangerous to the environment.
There is absolutely no reason why business can't operate with nice profits, and still maintain a healthy and appropriate respect for the environment.
It is idiotic to act as if the environment will simply fix itself automatically no matter what we do to it. It is equally idiotic to think that all industrial progress is dangerous for the environment and that it can't operate with a healthy respect for the environment, which it can. But, because it hasn't always done so, the extreme environmentalists over-react in an irrational manner.
Also, consider that environmental clean-up and protective businesses are an industry unto themselves and that's a good thing, IMO. The company, Waste Management is a prime example of the success of recycling, for example. Industries that produce methods to eliminate specific toxic byproducts of manufacturing are another example. The benefits of industry/business progress are sometimes nearly miraculous and it is actually environmentally stupid (by extreme environmentalists) to thwart such incredible advancements to our civilization.
Extremism on both sides is wrong, and it is about time, IMO, that we see a mutual respect and balanced co-existence. Extremism hurts everyone in the long run.
I am positive that there can be, and should be, a "win-win" situation, whereby industry/business and the environment can mutually flourish.
TM
A good week for the market. I did well, but mostly by accident. I have decided that I can't out trade the professionals so I haven't bought or sold anything for about 2 weeks.
I like my current mix where I can catch a crumb or two so I am standing pat, about 50% invested.
2013 LX 570 2016 LS 460
Most of my positions have performed well, such as AAPL, AMZN, ARMH, XOM, C, and others... but I did take a nasty hit on Sprint yesterday. It was down quite a bit, so I bought a huge position, expecting it to balance itself out, but then it plunged... down around 7%!... and I saw that as a great opportunity, but I had reached my limit, and I was starting to bleed to death so quicly with no ability to do anything, and no understanding as to why it was happening... so I had to cut the losses before they became potentially catastrophic.
The whole mess took a nasty slice out of my whole week's gains. But, crazy as I am, I still kept a fairly large position because the average share price became quite low, and it was then announced that the government's case against the AT&T /t-Mobile merger had gotten stronger, not weaker, and then Sprint shares finally started to respond to that good news and gained back some ground.
I have no idea what next week holds for the stock. I truly figured it to be ripe for a huge gain, as long as the AT&T/t-Mobile merger doesn't happen, and they are supposed to get the iPhone next month.
Can't win 'em all. But that was brutal.
TM
We stayed at the Oregon Garden Resort in Silverton. They have an internet special of $99. Very nice rooms and it includes dinner and breakfast. We had the filet mignon dinner with a complimentary bottle of wine, it was good. The dinner for two would have been $99. Best bargain on the trip. Plus the gardens are all included.
I like Oregon, though I am looking for a state with no income tax. Tired of paying 10% in CA. Tired of supporting illegals that are voting in the same lame Democrats that are bankrupting the state.
You have Washington, Florida, New Hampshire(?).
Anywhere else?
I know the OVERALL tax rates in Oregon are pretty high, even without a sales tax.
It was probably pretty smoky when you came through, eh?
There's been a persistent lightning-caused fire over by Sisters that was sending smoke to the valley until a couple days ago.
Hmmm... I thought the smoke was from all those potheads in Oregon and Far-Northern California.
TM
Yes the air was hazy when we stayed in Silverton. By the time we got to Medford it was not as bad. Lake Tahoe and the Carson Valley were real nice. 70s during the day. 50s over night.
Right now I have no clear picture of where I would invest in real estate. Maybe buy one of those cheap houses by Steve in the UP of Michigan. Wait for the autoworkers to start buying summer places again. :shades:
My mother and brother live in a part of the state (not terribly far from where Gary visited) where conditions are poor and will likely never really improve. For my mother it isn't bad, she is going into semi-retirement anyway, housing is cheap, she has many friends and doesn't really like the bustle of a large population center. It was a prosperous logging town, once, population greater 90 years ago than today. It was in decline even before the spotted owl, but when that stuff hit the fan about 20 years ago, the final nails went into the coffin.
Oregon seems even less optimistic...at least WA has Seattle to save it economically...Portland has it rougher, unemployment numbers show it. When some airlines stopped running service there, it was apparent to me there were problems. Then again, I look at some "right to work" states where it is no better. I think these places might be indicative of the future of smaller town USA as a whole.
Maybe I'll give it another try !!
2013 LX 570 2016 LS 460
Taking advantage of today's beaten down home prices and record-low rates, baby boomers are buying their dream retirement homes -- years before leaving the workforce.
Fortunate enough to take advantage of today's beaten down home prices and record-low interest rates, some baby boomers are buying their dream retirement homes -- years before leaving the workforce.
"We're seeing people purchasing homes five, six, seven years or more ahead of retirement," said William Filbin, a Re/Max broker in Marco Island, Fla.
It's an opportunity that's hard to resist: Home prices nationwide are down 32% from their mid-2006 peak, according to the S&P/Case-Shiller home price index. Meanwhile, mortgage rates are at historic lows with the 30-year fixed-rate hovering around 4.2%.
The question is: What to do with the property when you have so many years to kill before retirement?
To help cover the expenses of an extra mortgage and other bills -- like utilities and property taxes -- some pre-retirees are renting their homes out on long-term leases; others who bought in vacation hot spots rent to vacationers, said Mike Sannes, a Keller Williams broker with Big Bear Real Estate in San Bernardino County, Calif.
It doesn't always cover all the costs, but it helps.
Here are six couples who decided to take advantage of today's market in order to get their dream retirement home now.
http://money.cnn.com/galleries/2011/real_estate/1109/gallery.retirement_home_dea- ls/?iid=GM
My dream retirement home would be on Lake Zurich or in the Bavarian Alps or something, so that's not going to be a similar option :shades:
Hi Tony! I have been driving all day from Akron, OH to Des Moines. I was obviously jumping with joy when I heard on NCBC (Satellite Radio) that AAPL had (at that time) reached about $405. At the close, I called my broker and asked how AAPL had closed. When she said it closed about $411, I was astounded. There was no real new news or any major announcement. It is very impressive that AAPL sky-rocketed on a day when the Dow was down 108.
I have obviously not changed my mind about AAPL. I expect it to reach about $460 around the next earnings report on October 18 and above $500 in 2012. It seems like the sky is the limit for this company.
I am happy to hear that you made out like a bandit recently with this stock.
Did you take that route, voluntarily? :surprise:
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Thanks to YOU, Charlie... and your unshakable enthusiasm, many of us here have been making some great $$$ on this stock.
TM
It looked like they opened that mall just for the Apple experience!
This tells us that future sales in this economy should be quite strong.
Just a side note....
Regards,
OW
Did you take that route, voluntarily?
I know it is a long drive (680 miles to be exact), but I don't mind it at all as long as I am entertained with Sirius/XM. I am a sports nut, so yesterday I listened to a lot of the NFL channel (lots of great Patriots talk) and I listened to my beloved Red Sox choke another one to the lowly Orioles in the first game of a day-night double header.
In case I did not tell you guys before, my daughter and her family moved from Belleville, MI to Akron back in early May. I have made 3 trips there since then. I have all kinds of time now since I am retired.
TM, you know what we say in trading. You're only as good as your last trade
I am very happy about all of us that own AAPL. I don't see how this stock can be stopped from reaching at least $500 by early next year. I suppose the only way would be if we slide into another severe recession. I know, I know. Some of you are probably saying we never emerged from the last one, but in my opinion, things are not that bad.
As I stated before, AAPL is better than gold.
It's interesting that you mention this because back this past Sunday I was also at a mall in Akron with the kids and grandkids. The mall was not very crowded at all. However, what do I see as we are walking along the various shops? An Apple Store that was really packed. I went inside to get a hold of a salesperson but I had to wait a while. I asked him if he had any idea when the iPhone5 and the iPad3 would be released. I knew how he was going to answer even before I asked the question but i thought I would for the heck of it. He said, "you probably have more information on that than we do". It's just an example of how closed lipped the Apple folks are.
A few of the talking heads on CNBC have said the same thing.
IMO, it's a freight train.
Unfortunately, I only own 500 shares. If I go over that I won't be as diversified as I want to be. I am also hitting it big with a couple others, such as CAT and XOM due to my low cost per share... and, I am building positions on a few others that could explode to the upside soon (hopefully).
TM
Also, my family has already told me they want an iPhone5.
Bought my son the latest powerful version of the MacBook Pro. WOW! I've been using it when he is in school, and it is awesome... I am especially amazed with its capabilities with music composition/mixing/recording.
If only Scotttrade Elite could run on a Mac. Darn. The only way it might run is by using a Boot Camp program (I think something like Fusion 4 or Parallels 7), but I am not that confident in using a Windows OS on the Mac, as it is less secure than the Mac OS, and I wouldn't want to jeopardize a Mac.
Anyway, THANKS again!
TM
They responded yesterday by saying they screwed up so they decided to rename the DVD's by mail Quickster and change Netflix to streaming only. Pricing did not change.
IMHO, they are trying to get out of the DVD by mail business and are willing to alienate that customer base which probably isn't profitable. IIRC, 25% of the DVD's they send out never come back or are damaged upon return.
Their main problems is the DVD mail service is not very profitable with the cost of mailing etc. and their streaming selection is lacking with new releases. Losing Starz doesn't help either.
Plus my cable provided ISP has bandwidth issues during peak hours making streaming an issue.
Netflix is fighting a battle with the content and network providers. Obviously the cable companies are not on their side considering they are competing in the content space and placing huge demands on their networks.
Then add competition from the likes of Redbox and online providers like Amazon and Hulu etc.
They responded yesterday by saying they screwed up so they decided to rename the DVD's by mail Quickster and change Netflix to streaming only. Pricing did not change.
I see now said the "blind man". Your info is much appreciated.
Plus my cable provided ISP has bandwidth issues during peak hours making streaming an issue.
Netflix is fighting a battle with the content and network providers. Obviously the cable companies are not on their side considering they are competing in the content space and placing huge demands on their networks.
Then add competition from the likes of Redbox and online providers like Amazon and Hulu etc.
Wow! I had no idea they have all these problems. My mind has been totally consumed by AAPL
http://online.wsj.com/article/SB10001424053111904194604576582942348192416.html?m- od=WSJ_hps_RIGHTTopCarousel_1
They've spent almost $500 million more than cash flow since 2007 buying back their stock.
They are also starting to see competition from Amazon and Google and I'm sure that torrents also affect them as their more voracious users are probably tech savvy and can bypass them to watch what the want for free. Further, I wouldn't be suprised to see the studios invest in the technology to go direct to the consumer with streaming products.
They shot themselves in the foot.
As far as the stock being a good buy, I think netflix is still entrenched fairly well, and the name is well-known. Others may offer the service, but Netflix is in a good competitive position, IMO. They need to make sure they can be price-competitive as they move forward.
The stock has been severely punished, and I may be alone on this, but I think the stock is worth watching. If it goes much lower, I'd be very inclined to step into the shallow end of the pool. Unless you think Netflix is going to throw in the towel, there is merit to considering the stock when it has been sooooo severely hammered to a pulp.
TM
I'd also be wary of Amazon. A state sales tax on them is going to be punishing. But IMO a much more solid investment than Netflix.
Apple - still seriously undevalued but so widely held. How do you possibly sell Apple in a market like this. It's in it's own investment class.
Overall market - not seeing many earnings warnings so Q3 may be better than anyone is expecting.
Love the optimism... but... I am concerned that there is something very wrong with the global banking situation that is so serious it could have a major impact on all of us.
It is very realistic to consider that the insiders that know the true nature of the situation are being extrememly careful to keep the world in the dark, for obvious reasons... the resulting panic would have a massive impact upon world markets and banks would not be able to handle the impact.
It is very possible that while life appears normal in the malls and restaurants in some parts of the country, the underlying truth could be that we are on the brink of a serious global economic meltdown. In spite of all attemplts to solve it's problems, Europe continues to edge closer to a major economic collapse. It is ridiculous to think that the US wouldn't be severely impacted.
In addition, our domestic situation must be pretty bad, considering the Fed's behavior and comments. No matter how anyone spins it, our economy is messed up, and we have a government that is unlikely to accomplish anything at all until after the election. We have no leadership.
The global political situation is as dangerous as ever.
Our nation is still incredibly dependent on energy.
Many of the world's banks are on the brink of disaster.
There are so MANY things going wrong at the same time.
What's going to prevent all these problems from having a serious impact? The few bright stars out there, one known as APPLE, are simply not enough to save the world from it's systemic problems.
As of today, I'm back out of the market for now... to re-think my approach... and I expect to see new lows before the end of the year.
Danger lurks. Sorry to say it.
TM
I`m not being flippant, as I`m spending more and more time pondering what if anything to do, and it is not pleasant for me......One thing on my `income` producing side of things, is I am not buying anything for yield that doesn`t pay out monthly.....Just too much can happen on a quarterly basis, and the computers have it all figured out, so they profit in a big way....Just stupid of me to think otherwise.
Everyone`s opinion on this `site` has had an influence on me is some ways, and has enabled me to change --ever so slightly-- for different situations......I hope everyone else has benefited as I have.
Unfortunately `luck` is a big part of my trading strategy...Just as I followed the `old path` in buying aapl.....It went up twenty or more points very quickly, so instead of being the `greedy` one, I fooled myself and instead of buying more, sold what I had---and then just stepped back and did NOT give the gain back.......Now I might miss it, or I might get another chance to establish a position, but I`m satisfied with what I did, and NO I didn`t make enough to buy a car, but I sure got enough to pay for the ipad and my wife`s also--after taxes