Last first---The government is what I mean when I say the media is just reporting all the negative stuff....The media is just `the media` , no one else can get a word in as the government `Obama` is just doing all the talking...I think he is way over exposed....every day all the time...
There are always problems--sometime more troubling than others---When I think back to the end of 08, man there were some really serious troubles then---sort of `doomsday`....Today things are perking along, but still trouble `in the air`..
Although Charlie hasn`t sounded the alarm, you have certainly done a fine job of keeping us all on our toes, and I am getting close to cutting back the few stocks that I do own , other than the big C, and it will also go if we continue much longer on the road we are traveling right now.....This whole thing of the SEC, and other agencies not doing really anything is slowly undermining my faith in what I expected of the administration....
I should make something clear to you and probably everyone else here. I am not suggesting that anyone should bail out of the stock market at this point. It could prove to be too late. The time to get out is BEFORE prices decline.
Again, to get out now could prove to be late, IMO... and doing so would then miss the next upside swing.
It probably won't be long before I purchase more stocks myself. We may have gotten closer to the bottom.
Great buying opportunities lie ahead... some may be the opportunities of a lifetime.
Anyone really interested in taking advantage of the situation should do some homework... Soon. The payoff could be well worth it. Regardless, proceed with caution.
As far as the Obama administration is concerned... I am soooooo disappointed, I have no adequate words. Obama, while well-intentioned, is very misguided, and clearly he is extremely inept. It's tragic.
I appreciate your advice...You have been `right` on your calls, and you called this market decline.....I agree with you this is probably the low, but if it continues to decline, at some point I willl be forced to act.. You warned,and It was `I` that decided to ride this out, but there is a limit as to how far I will `ride`
Unfortunately I do not `believe` in the present market and it may be a `siren` song to think of opportunities for a `lifetime`...What I mean by the present markets is that the overall market and the nervous manipulation is undermining my confidence in `a even playing field` ...This is no time for us to be forced to play with one of our arms tied behind our back......So much is stacked agains all of us.....Just think, you have to be right about any stock, and be right for a year before taking a profit...If you are wrong you don`t get to take a loss agains your taxes..If you are right you have to pay taxes...I hate to be the `fish in the barrel` , and that is how I feel Tony
For better or for worse, I am buying more AAPL this morning. The supposed bad news about reception, etc. is a thing of the past.
Charlie,
A little personal (non-analytical) perspective... FWIW...
With a 52-week high of $279/share and a 52-week low of $134/share, Apple is currently at around $251/share.
The upside potential is certainly there, and Apple has a reputation as one of the greatest companies, and could likely have a $300 - $325+/share price in the not-too-distant future.
Technology has been under pressure recently. Hard to say if this opening rally today will stick by the end of the week.
Overall, for the longer term, I think you've made a very good, conservative, safe choice with your Apple shares.
I'm not convinced the antenna issue is totally behind them, with Apple's explanation about the "bars calculation"... there is still the issue with the physically exposed antenna and whether or not it will need to be isolated with a modification, regardless of the way it effects the reading of the bars... it may in fact suffer from reception glitches under certain circumstances. Regardless, I don't expect it to hurt sales in any major way... but the whole incident clearly punches a hole in Apple's reputation.
BTW, my daughter owns a MacBook Pro, and I needed to call customer service recently for a minor thing. It was a horrible experience that I never thought I would go through with Apple. They blundered the whole thing two times before they got it right the third. Phone wait times were also ridiculous, on hold for nearly an hour, only to have two different idiots mess everything up twice before a third guy knew what he was doing. IOW, three seperate calls, all three on hold nearly an hour, and the first two mishandled by idiots. Adding that experience to the recent iPhone antenna issue, and I must admit that I am honestly left with a somewhat downgraded perspective of Apple. (But, I still think the stock will go up.)
As always, thanks for your insightful perspective. The market has been pure BS lately. I decided to buy 20 more shares of AAPL this morning at 251 (losing my rear end already ). I had sold 25 shares up around 272 and bought those back at 256. Now I have 45 shares to play with in addition to a lot more shares from way below the market.
That really sucks that you and your daughter got such poor customer service from Apple. 3 hours on hold is horrible :mad:
As I write this, the entire market is crapping out again. It never ceases to amaze me lately.
Seems we all wake up optimistic about the future and the market follows that thinking. Then we read all the bad news we are back in the doldrums. The only good news today is Kennedy staying on the SC till Obama is gone. Not enough to swing the market back up to the morning highs.
Could this be the day we will be looking back a couple months from now and saying "we should have been buying stocks like there is no tomorrow"? There! I just killed this rally :sick: .
I thought for sure I would kill the rally when I posted above something potentially very positive. But miracles do happen and not only did I not kill the rally, but it sky-rocketed from there. I have a feeling (I may have said this a week or so ago as well) that we have seen the low in the market for the year. Now if this does not kill the rally nothing will :sick: .
I sure hope you are right I personally am sick and tired of the violent volatility, and frankly it constantly makes you wonder what might be hiding `behind the door`...Tony
Could this be the day we will be looking back a couple months from now and saying "we should have been buying stocks like there is no tomorrow"?
Can't say for sure if this was THE day, but I know that PRIOR to this day, when stocks were badly beaten I bought more of only one stock... Citi. I bought some last week and then again yesterday at the session low.
The stock surged nicely today.
I totally believe this stock is going to roll a double or even triple over the course of several short years.
I realize there is risk here, as the government hasn't even sold all its stake in Citi yet, but when it does finally unload all its shares, I expect the stock to make some great gains.
Later this month, there should be some data about Citi's performance that might give us a glimpse into the company's recent performance. You can bet I will be pouring over this information when it comes out.
I highly recommend... again... that you seriously consider this stock for the LONGER term and think about accumulating some of it soon.
I now own quite a lot of Citi shares, and I expect to purchase even more shares near term. I will buy additional shares of the stock on all major dips until the end of the year, or early next year when the government finally unloads it's shares.
One day in the future, I want to look back at this with my wife and kids and be very glad about it! I still don't forgive myself for selling my Intel stock decades ago, when my wife and I first got married. I had other prioirties at the time, so I let the stock go. I'd be a wealthy man today, if I hadn't sold those shares.
But, you never really know for sure. I can only make my best guess. And my best guess right now is Citigroup.
BTW, I hate to say it, but I am still not convinced that the volatility is suddenly over in one day... but I sure did like the market today, especially Citi's performance, of course.
I still don't forgive myself for selling my Intel stock decades ago, when my wife and I first got married.
Mine was QCOM. I bought a lot under $5. I think it split and I sold around $15. It shot up from there to $80. Of course I could have ridden it out and today it is at $33. I think I bought two small companies that went bankrupt. Intel was similar with a lot of splits. Oh, well.....
It sure looks like you are doing the right thing in loading up with C on every dip. You will be able to buy all of CA in a few years . I am tempted to get in the swing of things once again and purchase some Citi stock.
Ha... you are funny. I understand you are in a good mood, given the market's nice gain these last days. Yes, you should buy Citi before it is too late.
I promise you I am 100% sincere, and am putting my money where my mouth is.
If the red line follows the pink one, we could have a nice little rally ....The perplexing thing about last year, was I got to the point where there was really no where to turn for safety other than a short term gov. instrument, and even that has some serious flaws if thing hadn`t worked out.....Several years ago--well before this debacle-- it was said the best investment going was a farm, or farmland, I don`t remember....I like the thought of a farm, but it is expensive to own....Tony
Well, here is an article that reflects your hesitation...
I am trying to figure out what the author (Donald Luskin) of this article is attempting to say. On one hand he does state that this Administration saved us from a new Great Depression (I agree) but on the other he states that the Administration is anti business and it has made many mistakes. Isn't there some sort of a contradiction here? It saved us from a new Great Depression by the force of the stimulus package, but yet they are making a lot of mistakes? How is that? If the policies of this Administration avoided another Great Depression, it should be allowed to make some mistakes. After all, the state of the economy was in such a catastrophic path that how was it possible to make the right decisions all the time?
I continue to be fairly optimistic about the future of our economy. I'm sure there will be more bumps on the road to recovery, but I do not see a "double dip". We had a systematic failure of some huge banking institutions in 2008. There are no such failures on the horizon. I also very much doubt that we are following a path very similar to 1938. This is a TOTALLY different world now and I have faith that some very intelligent people that are guiding our economy will not make the mistakes that take us to a 1938 type of scenario.
I don't think there is a depression ahead. Bumpy road, yes... but no depression. Maybe another recession, but I am not taking a firm position on that yet.
However, while we are in a recovery, Obama's plan for huge tax increases is just plain stupid. He sure lied to all of us regarding taxes, and I never respect liars of that magnitude.
I certainly wouldn't be heavily invested in Citi if I was expecting its failure.
On the other hand, we will NOT see unemployment or the housing market improve at any healthy pace with Obama at the helm. He is an obstacle.
Perhaps not a double-dip (sounds like a nice ice cream cone IMHO) but a road wrought with many potholes about as straight and long as on the Arizona - Nevada on foot.
Many banks continue to fail each week. Sure they're regional but a failing they will go for while to come. Regardless of the political slant, the less burden on business will help pave the holes faster. From my view, I don't see it happening and the article paints a picture that must be considered because the entire planet is facing the pressure from uneven economic pressure to the downside.
I guess it depends what comprises a double-dip. I am sure there are many different definitions particularly at the regional levels. Local school districts are cutting the highest amount I can ever remember into next year. The effects of the Great Recessions are only hitting some that have been been shielded for a long time.
If you have money and or a good job, it is not a depression. If you are unemployed about to lose your home it is a depression. I don't see jobs returning with the daily onslaught by this Congress and President. Here are two examples of job killing policies by the current regime.
WASHINGTON — Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.
The new regulations, which kick in at the start of 2012, require any taxpayer with business income to issue 1099 forms to all vendors from whom they purchased more than $600 of goods and services that year. That promises to launch a fusillade of new paperwork: An estimated 40 million taxpayers will be subject to the requirement, including 26 million who run sole proprietorships, according to a report released this week by National Taxpayer Advocate Nina Olson.
Think about those two and then figure out how we can sustain a system that 50% of workers pay no income tax. The rich with any brains are bailing out of small businesses and hiding their money where Sam cannot get to it. Leaving states like CA, NY & IL by the droves. Moving to states like TX, AZ & Florida. I should have followed my Tax man's advice in 2005 and bailed out of CA when I could have gotten twice as much for my home. He sold a small condo here for half a million and bought a 3 bedroom home on a Golf course in The Villages in Florida for $150k. No state income tax and lots of golf. Could be why Rush is bailing out of NYC.
I can't say that I followed campaign promises very closely (I mean, why bother?), but as I recall, POTUS said he would raise taxes on the wealthy (over $250k income iirc). Can't say that my taxes have changed much.
BP is shopping their Prudhoe Bay oil interests for $18 billion to Apache out of Houston. There's a lot of well paid engineers and support people in Alaska working for BP and they must be getting nervous. Never heard of Apache, but I suspect their stock will jump Monday morning. Not sure which direction the jump would take though.
>, POTUS said he would raise taxes on the wealthy (over $250k income iirc).
IIRC, he said he would _lower_ taxes for those under $250,000. Then later he said they wouldn't have an increase. But there are lots of increases already occurring. Because of the economy he's caused, states and local political divisions are looking for any ways to raise taxes to make up for what the slow economy is causing them along with what they won't have in their next budgets as Obama's government largess dries up. Ohio has something on the order of $4 or $5 billion to fill for a two-year budget.
The current tax rates are going to be increased as well when the tax base rate goes from 10% to 15% and capital gains get taxed at a higher rate. That will affect many people with mutual funds. Having those increase will violate the earliest of his campaign promise.
The current tax rates are going to be increased as well when the tax base rate goes from 10% to 15% and capital gains get taxed at a higher rate. That will affect many people with mutual funds. Having those increase will violate the earliest of his campaign promise.
That all happens 1/1/2011. That is also when they start taxing your health care benefits, when the Bush tax cuts expire (not renewing makes a tax increase), and when the death tax is reinstated.
I am sure there is still a few that I am leaving out.
That's correct. His tax policies are slated to violate his promises in multiple ways... some quite significant.
Obama is a liar... plain and simple.
The economy is a long way from being healthy, and there are serious problems looming.
Regardless of the next round of earnings reports and the stock market's response, the economy is still very sick. The Obama administration, like every other administration, loves to feed everyone a bunch of statistical BS.
But, no matter how Obama slices it, the truth speaks for itself, and there are some serious issues to resolve, and very little medicine left to work with.
One of the best treatments would be a tax cut (even if only temporary) and a revised tax code... but Obama believes that taking large amounts of money out of the pockets of middle-class American citizens, and small businesses is a good idea when the economy is struggling to recover from a near depression. For an educated fellow, he is so stupid, it is mind boggling.
This is the one to keep your eye on......It is a tricky tax with penalties that are not tax deductible, and it really hard to get it right...In fact it is almost impossible....Tony
"I have faith that some very intelligent people that are guiding our economy will not make the mistakes that take us to a 1938 type of scenario. "
The appointed annointed are academia nuts who have never run a business. Faith in idiots knowing how to run the USA is grossly missplaced.
Re Taxes:The proposal is being sold as a tax on the wealthy. It is not, however, a tax on the already wealthy. It is a tax on becoming wealthy. On top of the 35 percent federal income tax rate, it would add a 5 percent tax on income above $200,000 by an individual, and a 9 percent tax on income above $500,000.
Most people at these levels of income are running a business. They are the ones who invest and create jobs. Our tax system should encourage them to do that here.
.. The problem is much deeper and far more serious than POTUS leadership, which is a mere symptom of what ails us. Blaming the prince of the fools should not blind anyone to the national confederacy of fools that made him their prince. The country can survive a few idiots, but, is less likely to survive a multitude of fools such as those who voted the idiots into office. :mad:
Secret gold swap has spooked the market It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion
Well, now at least I feel better for not voting for the anointed ones. I assume we will all surpass the 50% tax bracket if they complete their strategy.
What designates enough taxes? Can we have a country within a country that allows tax-free growth based on promoting well-being for all without the tax insanity? I'll vote for that.
Interesting that the more taxes grow the more out of control the allocation to the issues that the taxes were levied to solve in the first place. When balance fails to exist, a repeat of the bursting bubbles will continue until it returns.
It would not matter if everyone was paying 90% on their income in taxes, the government would still spend all of it and borrow some more. That is just the way it works !!
If you start a Tax Revolt Forum, I will be at your service. I think all pressure on these government slicksters would give every American the pleasure to re-live the Boston Tea Party. I'm Mad As Hell And I'm Not Going To Take IT Anymore!
Easy there. If you don't like paying more taxes you will be considered a Racist by the NAACP. No taxes, no free ride for non tax paying voters. Some how that is construed as racist by some organizations.
PS Today my "C" stock holdings are now in the black. I kept diluting till it got to $4.10 and this was a good day. From here on up it is money in the bank, so to speak.
Incredible percentage gains, recently. I keep waiting for a dip to buy more, but instead I keep making nice profits. Not a bad problem to have.
AWESOME for you TM!
BTW, basically every stock is up today except for AAPL. You nailed it the other day when you mentioned that this reception problem was more complicated than what Apple was saying. The bad publicity created by the Consumer Reports "don'r buy" recommendation a day or two ago has obviously hurt the stock. However, I have faith that Apple WILL fix the problem and the stock will move considerably higher & likely reach new highs in the next couple months. I decided to buy 20 more shares at $249 this morning. I figure that the bad publicity is about finished.
As promised, I have found out that the IPO is going ahead on Thu July 15th. IPO calendar
This is the IPO for Qliktech, the maker of Business Intelligence (BI) software called Qlikview (QV). The IPO is taking place on the NASDAQ under the symbol QLIK, see more info in the link:
I have been working in the SAP BI space for more than 10 years. QV is a software that will change how data warehouses are built, and how end users can extract BI from the data. Some of the main advantages are: 1- Quick to implement (time to benefit) is a matter of 4-6 weeks vs 3-9 months for competitors. 2- Compact data model. In one of my tests, the disk space requirement for a given original dataset is 40 times less than the competitors. This enables reports to contain very high granularity data where other softwares would cry uncle. 3- High performance response time due to In-Memory technology and efficient Associative Data Model. (most large BI softwares also has In-Memory tools add-ons that are extra COST to implement, but the real differentiator for QV here is the data model as mentioned in point #2)
One main disadvantage is that QV is relatively unknown by large organizations, but that is slowly changing as new Fortune 1000 accounts are signing up for the product.
As a side business, I am a partner of QV reseller/implementor. I have large SAP clients showing extreme interest in the product (winning anyone of these accounts would pay for my LFA and the 918 Spyder )
I will be buying substantial amount of Qlik on the market, because I see this product is the game changer in the industry.
Please do your own research if you were to invest in QLIK.
I still tend to think you are going to be OK with AAPL in the long run.
But... you may be surprised that I also still believe that the antenna issue (and the bad publicity) isn't quite over just yet. The legitimacy of the problem (even if not that significant) makes it something that won't just go away... ever... unless something is done to actually solve the problem.
This action includes the modification (slight redesign) of the antenna as soon as possible, and recalling the 2 million phones that have been sold so far, before that number gets so large that it would be a nightmare to ever recall them. Or, by giving something to those 2 million folks that have purchased the phones so far... perhaps something like a gift card from the Apple Online Store. This type of action (or something similar) would assure that all the latest phones would then include the new corrected design, and the problem would be gone forever.
It is interesting to me that Steve Jobs has deleted and censored all comments on the Apple website that might even mention the negative Consumer Reports findings. In the long run he might regret that kind of behavior. He would be better off just admitting the truth (which has been proved by numerous independent sources) and dealing with it in an honest and direct manner. Deleting those negative comments shows that Steve isn't quite ready to acknowledge the truth, but would rather try to cover it up... which is not good for his or the company's reputation.
Anyway, I hope you are right and that you make a killing on it one day.
As for me, I still have no immediate interest in AAPL, and I remain quite dedicated to my Citigroup strategy.
Please do your research. I can help with any technical question you might have, but the decision to invest is yours.
From my perspective, Qliktech has the potential to dominate the enterprise BI space in short-medium time frame, or get taken out by a by a large technology firm that did not waste money buying Business Objects or Cognos.
Well, I am looking at 10K shares. This will be the biggest single stock holding in my stock portfolio. I am going looooong on this one, so yes I will try to grab them at the open tomorrow.
Comments
I talk to many people who are still feeling the pain, and there is plenty of data that indicates that there are deep problems.
The housing market is a core issue. One third of the sales are foreclosed properties. That number should normally be a tiny percentage... not a THIRD.
Housing says a lot... and it is a serious mess.
Many problems persist, both domestically and internationally.
The media isn't the problem. The government is the problem.
TM
2013 LX 570 2016 LS 460
http://finance.yahoo.com/video/economy-18773128/blackburn-stimulus-did-not-work-- 20690195
2014 Malibu 2LT, 2015 Cruze 2LT,
Last first---The government is what I mean when I say the media is just reporting all the negative stuff....The media is just `the media` , no one else can get a word in as the government `Obama` is just doing all the talking...I think he is way over exposed....every day all the time...
There are always problems--sometime more troubling than others---When I think back to the end of 08, man there were some really serious troubles then---sort of `doomsday`....Today things are perking along, but still trouble `in the air`..
Although Charlie hasn`t sounded the alarm, you have certainly done a fine job of keeping us all on our toes, and I am getting close to cutting back the few stocks that I do own , other than the big C, and it will also go if we continue much longer on the road we are traveling right now.....This whole thing of the SEC, and other agencies not doing really anything is slowly undermining my faith in what I expected of the administration....
Tony
I should make something clear to you and probably everyone else here. I am not suggesting that anyone should bail out of the stock market at this point. It could prove to be too late. The time to get out is BEFORE prices decline.
Again, to get out now could prove to be late, IMO... and doing so would then miss the next upside swing.
It probably won't be long before I purchase more stocks myself. We may have gotten closer to the bottom.
Great buying opportunities lie ahead... some may be the opportunities of a lifetime.
Anyone really interested in taking advantage of the situation should do some homework... Soon. The payoff could be well worth it. Regardless, proceed with caution.
As far as the Obama administration is concerned... I am soooooo disappointed, I have no adequate words. Obama, while well-intentioned, is very misguided, and clearly he is extremely inept. It's tragic.
TM
Unfortunately I do not `believe` in the present market and it may be a `siren` song to think of opportunities for a `lifetime`...What I mean by the present markets is that the overall market and the nervous manipulation is undermining my confidence in `a even playing field` ...This is no time for us to be forced to play with one of our arms tied behind our back......So much is stacked agains all of us.....Just think, you have to be right about any stock, and be right for a year before taking a profit...If you are wrong you don`t get to take a loss agains your taxes..If you are right you have to pay taxes...I hate to be the `fish in the barrel` , and that is how I feel Tony
Tag, as often as you are in and out of the market, I would hate to have to keep your taxes straight !!
Hope everyone had a good Independence Day !!
2013 LX 570 2016 LS 460
Charlie,
A little personal (non-analytical) perspective... FWIW...
With a 52-week high of $279/share and a 52-week low of $134/share, Apple is currently at around $251/share.
The upside potential is certainly there, and Apple has a reputation as one of the greatest companies, and could likely have a $300 - $325+/share price in the not-too-distant future.
Technology has been under pressure recently. Hard to say if this opening rally today will stick by the end of the week.
Overall, for the longer term, I think you've made a very good, conservative, safe choice with your Apple shares.
I'm not convinced the antenna issue is totally behind them, with Apple's explanation about the "bars calculation"... there is still the issue with the physically exposed antenna and whether or not it will need to be isolated with a modification, regardless of the way it effects the reading of the bars... it may in fact suffer from reception glitches under certain circumstances. Regardless, I don't expect it to hurt sales in any major way... but the whole incident clearly punches a hole in Apple's reputation.
BTW, my daughter owns a MacBook Pro, and I needed to call customer service recently for a minor thing. It was a horrible experience that I never thought I would go through with Apple. They blundered the whole thing two times before they got it right the third. Phone wait times were also ridiculous, on hold for nearly an hour, only to have two different idiots mess everything up twice before a third guy knew what he was doing. IOW, three seperate calls, all three on hold nearly an hour, and the first two mishandled by idiots. Adding that experience to the recent iPhone antenna issue, and I must admit that I am honestly left with a somewhat downgraded perspective of Apple. (But, I still think the stock will go up.)
TM
As always, thanks for your insightful perspective. The market has been pure BS lately. I decided to buy 20 more shares of AAPL this morning at 251 (losing my rear end already
That really sucks that you and your daughter got such poor customer service from Apple. 3 hours on hold is horrible :mad:
As I write this, the entire market is crapping out again. It never ceases to amaze me lately.
I thought for sure I would kill the rally when I posted above something potentially very positive. But miracles do happen and not only did I not kill the rally, but it sky-rocketed from there. I have a feeling (I may have said this a week or so ago as well) that we have seen the low in the market for the year. Now if this does not kill the rally nothing will :sick: .
Can't say for sure if this was THE day, but I know that PRIOR to this day, when stocks were badly beaten I bought more of only one stock... Citi. I bought some last week and then again yesterday at the session low.
The stock surged nicely today.
I totally believe this stock is going to roll a double or even triple over the course of several short years.
I realize there is risk here, as the government hasn't even sold all its stake in Citi yet, but when it does finally unload all its shares, I expect the stock to make some great gains.
Later this month, there should be some data about Citi's performance that might give us a glimpse into the company's recent performance. You can bet I will be pouring over this information when it comes out.
I highly recommend... again... that you seriously consider this stock for the LONGER term and think about accumulating some of it soon.
I now own quite a lot of Citi shares, and I expect to purchase even more shares near term. I will buy additional shares of the stock on all major dips until the end of the year, or early next year when the government finally unloads it's shares.
One day in the future, I want to look back at this with my wife and kids and be very glad about it! I still don't forgive myself for selling my Intel stock decades ago, when my wife and I first got married. I had other prioirties at the time, so I let the stock go. I'd be a wealthy man today, if I hadn't sold those shares.
But, you never really know for sure. I can only make my best guess. And my best guess right now is Citigroup.
BTW, I hate to say it, but I am still not convinced that the volatility is suddenly over in one day... but I sure did like the market today, especially Citi's performance, of course.
TM
Mine was QCOM. I bought a lot under $5. I think it split and I sold around $15. It shot up from there to $80. Of course I could have ridden it out and today it is at $33. I think I bought two small companies that went bankrupt. Intel was similar with a lot of splits. Oh, well.....
It sure looks like you are doing the right thing in loading up with C on every dip. You will be able to buy all of CA in a few years
Yes, you should buy Citi before it is too late.
I promise you I am 100% sincere, and am putting my money where my mouth is.
TM
Why This Isn't Like 1938-At Least Not Yet
Scary! :sick:
Regards,
OW
Thanks for posting that fascinating information.
TM
Regards,
OW
I am trying to figure out what the author (Donald Luskin) of this article is attempting to say. On one hand he does state that this Administration saved us from a new Great Depression (I agree) but on the other he states that the Administration is anti business and it has made many mistakes. Isn't there some sort of a contradiction here? It saved us from a new Great Depression by the force of the stimulus package, but yet they are making a lot of mistakes? How is that? If the policies of this Administration avoided another Great Depression, it should be allowed to make some mistakes. After all, the state of the economy was in such a catastrophic path that how was it possible to make the right decisions all the time?
I continue to be fairly optimistic about the future of our economy. I'm sure there will be more bumps on the road to recovery, but I do not see a "double dip". We had a systematic failure of some huge banking institutions in 2008. There are no such failures on the horizon. I also very much doubt that we are following a path very similar to 1938. This is a TOTALLY different world now and I have faith that some very intelligent people that are guiding our economy will not make the mistakes that take us to a 1938 type of scenario.
However, while we are in a recovery, Obama's plan for huge tax increases is just plain stupid. He sure lied to all of us regarding taxes, and I never respect liars of that magnitude.
I certainly wouldn't be heavily invested in Citi if I was expecting its failure.
On the other hand, we will NOT see unemployment or the housing market improve at any healthy pace with Obama at the helm. He is an obstacle.
TM
Many banks continue to fail each week. Sure they're regional but a failing they will go for while to come. Regardless of the political slant, the less burden on business will help pave the holes faster. From my view, I don't see it happening and the article paints a picture that must be considered because the entire planet is facing the pressure from uneven economic pressure to the downside.
I guess it depends what comprises a double-dip. I am sure there are many different definitions particularly at the regional levels. Local school districts are cutting the highest amount I can ever remember into next year. The effects of the Great Recessions are only hitting some that have been been shielded for a long time.
Regards,
OW
WASHINGTON — Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.
http://www.chron.com/disp/story.mpl/business/7101738.html
The new regulations, which kick in at the start of 2012, require any taxpayer with business income to issue 1099 forms to all vendors from whom they purchased more than $600 of goods and services that year. That promises to launch a fusillade of new paperwork: An estimated 40 million taxpayers will be subject to the requirement, including 26 million who run sole proprietorships, according to a report released this week by National Taxpayer Advocate Nina Olson.
http://money.cnn.com/2010/07/09/smallbusiness/irs_1099_flood/
Think about those two and then figure out how we can sustain a system that 50% of workers pay no income tax. The rich with any brains are bailing out of small businesses and hiding their money where Sam cannot get to it. Leaving states like CA, NY & IL by the droves. Moving to states like TX, AZ & Florida. I should have followed my Tax man's advice in 2005 and bailed out of CA when I could have gotten twice as much for my home. He sold a small condo here for half a million and bought a 3 bedroom home on a Golf course in The Villages in Florida for $150k. No state income tax and lots of golf. Could be why Rush is bailing out of NYC.
BP is shopping their Prudhoe Bay oil interests for $18 billion to Apache out of Houston. There's a lot of well paid engineers and support people in Alaska working for BP and they must be getting nervous. Never heard of Apache, but I suspect their stock will jump Monday morning. Not sure which direction the jump would take though.
IIRC, he said he would _lower_ taxes for those under $250,000. Then later he said they wouldn't have an increase. But there are lots of increases already occurring. Because of the economy he's caused, states and local political divisions are looking for any ways to raise taxes to make up for what the slow economy is causing them along with what they won't have in their next budgets as Obama's government largess dries up. Ohio has something on the order of $4 or $5 billion to fill for a two-year budget.
The current tax rates are going to be increased as well when the tax base rate goes from 10% to 15% and capital gains get taxed at a higher rate. That will affect many people with mutual funds. Having those increase will violate the earliest of his campaign promise.
2014 Malibu 2LT, 2015 Cruze 2LT,
That all happens 1/1/2011. That is also when they start taxing your health care benefits, when the Bush tax cuts expire (not renewing makes a tax increase), and when the death tax is reinstated.
I am sure there is still a few that I am leaving out.
2013 LX 570 2016 LS 460
Obama is a liar... plain and simple.
The economy is a long way from being healthy, and there are serious problems looming.
Regardless of the next round of earnings reports and the stock market's response, the economy is still very sick. The Obama administration, like every other administration, loves to feed everyone a bunch of statistical BS.
But, no matter how Obama slices it, the truth speaks for itself, and there are some serious issues to resolve, and very little medicine left to work with.
One of the best treatments would be a tax cut (even if only temporary) and a revised tax code... but Obama believes that taking large amounts of money out of the pockets of middle-class American citizens, and small businesses is a good idea when the economy is struggling to recover from a near depression. For an educated fellow, he is so stupid, it is mind boggling.
TM
The appointed annointed are academia nuts who have never run a business. Faith in idiots knowing how to run the USA is grossly missplaced.
Re Taxes:The proposal is being sold as a tax on the wealthy. It is not, however, a tax on the already wealthy. It is a tax on becoming wealthy. On top of the 35 percent federal income tax rate, it would add a 5 percent tax on income above $200,000 by an individual, and a 9 percent tax on income above $500,000.
Most people at these levels of income are running a business. They are the ones who invest and create jobs. Our tax system should encourage them to do that here.
.. The problem is much deeper and far more serious than POTUS leadership, which is a mere symptom of what ails us. Blaming the prince of the fools should not blind anyone to the national confederacy of fools that made him their prince. The country can survive a few idiots, but, is less likely to survive a multitude of fools such as those who voted the idiots into office. :mad:
I think he has some sort of plan though I have no idea what it is. It just seems like he is trying to create as much chaos as possible !
2013 LX 570 2016 LS 460
It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion
http://www.telegraph.co.uk/finance/markets/7884272/Secret-gold-swap-has-spooked-- the-market.html
So which of you fellas are messing with the gold market? :shades:
What designates enough taxes? Can we have a country within a country that allows tax-free growth based on promoting well-being for all without the tax insanity? I'll vote for that.
Interesting that the more taxes grow the more out of control the allocation to the issues that the taxes were levied to solve in the first place. When balance fails to exist, a repeat of the bursting bubbles will continue until it returns.
Tax Bubble, Here We Go!
Regards,
OW
TM
2013 LX 570 2016 LS 460
Bastards.
TM
If you start a Tax Revolt Forum, I will be at your service. I think all pressure on these government slicksters would give every American the pleasure to re-live the Boston Tea Party. I'm Mad As Hell And I'm Not Going To Take IT Anymore!
At your command, I await your orders....
Regards,
OW
PS
Today my "C" stock holdings are now in the black. I kept diluting till it got to $4.10 and this was a good day. From here on up it is money in the bank, so to speak.
There! Back in the red!
Regards,
OW
I should ask my tax man if taking it out before next year would be advisable.
AWESOME for you TM!
BTW, basically every stock is up today except for AAPL. You nailed it the other day when you mentioned that this reception problem was more complicated than what Apple was saying. The bad publicity created by the Consumer Reports "don'r buy" recommendation a day or two ago has obviously hurt the stock. However, I have faith that Apple WILL fix the problem and the stock will move considerably higher & likely reach new highs in the next couple months. I decided to buy 20 more shares at $249 this morning. I figure that the bad publicity is about finished.
IPO calendar
This is the IPO for Qliktech, the maker of Business Intelligence (BI) software called Qlikview (QV). The IPO is taking place on the NASDAQ under the symbol QLIK, see more info in the link:
http://feedproxy.google.com/~r/qliksparks/~3/iKx6rlw-koY/
I have been working in the SAP BI space for more than 10 years. QV is a software that will change how data warehouses are built, and how end users can extract BI from the data. Some of the main advantages are:
1- Quick to implement (time to benefit) is a matter of 4-6 weeks vs 3-9 months for competitors.
2- Compact data model. In one of my tests, the disk space requirement for a given original dataset is 40 times less than the competitors. This enables reports to contain very high granularity data where other softwares would cry uncle.
3- High performance response time due to In-Memory technology and efficient Associative Data Model. (most large BI softwares also has In-Memory tools add-ons that are extra COST to implement, but the real differentiator for QV here is the data model as mentioned in point #2)
One main disadvantage is that QV is relatively unknown by large organizations, but that is slowly changing as new Fortune 1000 accounts are signing up for the product.
As a side business, I am a partner of QV reseller/implementor. I have large SAP clients showing extreme interest in the product (winning anyone of these accounts would pay for my LFA and the 918 Spyder
I will be buying substantial amount of Qlik on the market, because I see this product is the game changer in the industry.
Please do your own research if you were to invest in QLIK.
I still tend to think you are going to be OK with AAPL in the long run.
But... you may be surprised that I also still believe that the antenna issue (and the bad publicity) isn't quite over just yet. The legitimacy of the problem (even if not that significant) makes it something that won't just go away... ever... unless something is done to actually solve the problem.
This action includes the modification (slight redesign) of the antenna as soon as possible, and recalling the 2 million phones that have been sold so far, before that number gets so large that it would be a nightmare to ever recall them. Or, by giving something to those 2 million folks that have purchased the phones so far... perhaps something like a gift card from the Apple Online Store. This type of action (or something similar) would assure that all the latest phones would then include the new corrected design, and the problem would be gone forever.
It is interesting to me that Steve Jobs has deleted and censored all comments on the Apple website that might even mention the negative Consumer Reports findings. In the long run he might regret that kind of behavior. He would be better off just admitting the truth (which has been proved by numerous independent sources) and dealing with it in an honest and direct manner. Deleting those negative comments shows that Steve isn't quite ready to acknowledge the truth, but would rather try to cover it up... which is not good for his or the company's reputation.
Anyway, I hope you are right and that you make a killing on it one day.
As for me, I still have no immediate interest in AAPL, and I remain quite dedicated to my Citigroup strategy.
TM
Thank you.
TM
I can help with any technical question you might have, but the decision to invest is yours.
From my perspective, Qliktech has the potential to dominate the enterprise BI space in short-medium time frame, or get taken out by a by a large technology firm that did not waste money buying Business Objects or Cognos.
I will be buying substantial amount of Qlik on the market, because I see this product is the game changer in the industry.
So...
Are you planning on buying at the open tomorrow? And, when you say "substantial", can you be more specific?
Thanks!
TM