In my earlier posts, I've stated that I am going loooong with QLIK. I am looking at 3-4 times my orginal investment. Whatever I make on QLIK will replace the fund I allocated for the LFA. It'll be a cash purchase as required by Lexus. Therefore it would have been silly to count on any return on investments, especially high risk one.
Well, I decided to purchase some C after all this morning. I only bought 1000 shares for now.
This is a very impressive day for the stock market considering the huge move up yesterday. Obviously there has been no profit taking. The jobs number will be the key tomorrow.
About the LFA, the red one won't be in my garage for a little while longer, so the only thing I can do is enjoying pictures such as these ( I stole them from another forum):
If you are not careful, a bunch of us will be visiting you in Canada after your LFA arrives. I really do like the looks of it a lot.
Obviously I wish I had jumped on QLIK like you and some others here. Too chicken I guess. I can't complain though, my scaredy cat bond funds, preferred stocks, municipal bonds and utilities are doing pretty good. I am too old to lose my retirement.
At least not until small business men see the results of the November election. It would be pure foolishness to hire in this political climate. Too many crazy proposals by those running the show.
I'm a subchapter S (most are that or LLC's, which except for ever so slight legal differences are the same thing with respect to tax) so the income passes directly to me as an individual. So whatever he's talking about, and it seems like a lot of political BS to me, I have no clue. What he needs to do pure and siomple is let folks know what taxes will be over the long-term. Without that foundation everyone who is in business and is taxed at an individual basis (and that's every business I know of that wants to avoid double taxation) is frozen. If he's really pro-business and job creation he'd, at a minimum make the Bush tax cuts permanent. I've read so many stories about how lower taxes creates jobs, and I've also read a few about how they d'ont solve the job problem, so why not just raise taxes. But the problem I've had with the latter is that none of them dealt with raising taxes in a climate that featured such a severe credit squeeze and lack of bank lending to small business.
Obama has an unsolvable problem that he himself has created. He wants the worker to get wealthier while the owner gets poorer. Isn't taht what 'spreading it around means" . Short of seizing the business assets that folks own, I know of no way for Obama to achieve his objective in a capatilistic society.
The whole trick to Citi long term, IMO, is loan reserves. The bank is sitting on mountains of cash but needs to keep most of it aside for reserve coverage. As that eases over time than they can buy back shares aggressively. That is how the stock will appreciate. At 110-120bln Citi already has its valuation. I certainly can't see that doubling or tripling. At $1 I could see that, which is why I bought back then. It all goes together. The loan reserves come down, the P&L jumps, the Balance Sheet gets much stronger and shares get retired. The cash flow will not jump more than normal growth because Citi's cash flow is already great. It's the paper reduction of reserves that improves the balance Sheet and jumps the P&l, albeit in a non-cash flow manner. The stock canmot double or triple on valuation. It's got to be driven by a slightly increased multiple in conjunction with stock buyback. The cash for the latter is there but it's closed off by loan reserves. As the economy eventually improves those reserves ease.
Wages are not always the biggest expense in hiring. You will have training expense. HC has become a big dollar item for employers and employees to face. Then Social Security and Medicare. Add workman's comp that is horrible in states like CA. Liability and life insurance. Obama and this Congress as a whole have never run a legitimate business. They think hiring Federal employees make them an employer. Wrongo, that makes them the middle man between our tax dollars and the people that are supposed to be civil SERVANTS. Ever feel like any of them understood what it means to be a servant to the people? Not very likely. Many treat you like the government is doing you a favor by delivering the mail or testing our produce.
I know exactly what you are saying. My friends with small business do not want to take a chance expanding and get shot down by higher taxes. Or worse the Cap n Trade tax that will be open season on many small and large businesses. This is the most anti business Congress and President in my 67 years in the USA. And there have been some bad ones in the late 1970s.
Hey GS - Is Marvelous Muffins still in business in Toronto. Ages ago I set up an accounting system for them.. I also put in the accounting system for Ford Glass in Toronto. It was right around the time Ford was divesting them. I love that city and almost always stayed at the Sheraton downtown. In my whole life I was out of work for 2 months back in the mid 80's. I took a job as a consultant for a company back then called Ross Systems. There was no better way to find a job than in a consulting gig like that as long as you understood both the accounting and the systems side - as I did. Was only in the job for 4 monts, had 9 clients and 6 job offers from DC to Chicago and of course New York. I actually had 3 Canadian clients, the third one being a large paper coompany in the Brunswick area. I want to say St Regis, but I really d'ont remember for sure. The job I took was in NY of course and it was that job that put me in the media and marketing information space, initially as controller, than CFO and of course now on my own..
I know exactly what you are saying. My friends with small business do not want to take a chance expanding and get shot down by higher taxes. Or worse the Cap n Trade tax that will be open season on many small and large businesses. This is the most anti business Congress and President in my 67 years in the USA. And there have been some bad ones in the late 1970s.
Gary, this is the worst I've ever seen and the guy in charge is a bookworm with no experience and no know-how. Isn't it amazing how Europe is taking the exact opposite approach and doing almost to a letter what the republicans want to do. The European leaders think Obama is a joke.
THANK YOU. St. Regis is the name of a hotel in NYC that I stayed at several years ago. One of those things where I have a mental block and could not remember that name to save my life!!
Hi Len, where would MM be? I haven't heard of it, but then again I've only been in Toronto since 1981. It's interesting that, I've been following you foot steps combining accounting and IT for career moves. The difference was I setup my own BI consulting firm back in 2003 to maximize billing rate and never even thought about going back to work for someone else again. My luck is getting even better now that I am building the QV software reseller firm that I will hope to sell for early retirement fund in the near future. Now it looks like I've got a growth race between my QLIK shares and my firm. I've found that a lot of American companies tend to ignore the GTA as a potential market, in spite the fact that it is roughly the same size as Chicago in population. You've probably found that too when you had your clients here? So my business partner and I are planning to dominate the area, and Canada too if possible. Regarding Taxes and Businesses, while I don't follow what's going on south of the border, I do know that we have had some of the highest taxes coming out of the 1989-1991 recession. That lasted a decade while being hit with the NAFTA double whammy where cheap labor were found in Mexico and elsewhere, but businesses and people here had found ways to survive and prosper. Therefore, perhaps your President is borrowing that formula to bring the country out of this lingering recession.
The big difference between the USA and Canada is resources vs Population. By some fairly credible sources, we now have between 30 and 50 million illegal immigrants living in all parts of the US. That is equal to or greater than the entire population of the great country of Canada. Your taxes are pretty tough on the middle class. You just don't have the welfare rolls to support as we do. We have more people on food stamps than you have people in the country. The US middle class are feeding well over 50 million people right now. One half of those working in the USA did not pay a penny in Federal Income tax last year. In fact a sizable portion got money called EIC from the phony stimulus.
All of which gets back to the jittery market in the USA. Our unemployment does not look to improve with this political climate. Borrowing from the future to insure votes is the policy du jour. We are in an unsustainable situation that continues to worsen with every piece of legislation.
By the way about 1/3rd of my IRA is invested in a Canadian fund FICDX. It is a 5 star fund. Though it has been marginal as I bought in fairly high.
It's fun to mention Europe, but remember a few things. First, Europe might be more "business friendly" in some ways, but makes up for it with extremely high personal tax rates, especially for upper income levels, along with much higher consumption taxes. Do the republicans want that, too? Of course not. Yet, to have one you must have the other, especially with American military expenses (of which Europe has virtually nothing in comparison) and foreign aid to ungrateful parasite nations, not to mention domestic corporate and social welfare liabilities. So what's it going to be? Be more "business friendly", and someone somewhere has to make up for it. What is going to make up for it? Raising personal taxes isn't going to fly well right now, and although the American wealthy have it easier than any of their developed world peers, it's probably not going to go that way either.
Obama was voted in via desperation about a GOP that had derailed and was unable to offer anything superior, combined with bitter feelings about the chickenhawk war criminal element of the previous regime. The onus is on the GOP and they alone to craft and promote a superior candidate for the next big day. It shouldn't be too tough, given the cluelessness and ineptitude of the Obama regime....but still, I won't hold my breath.
The onus is on the GOP and they alone to craft and promote a superior candidate for the next big day. It shouldn't be too tough, given the cluelessness and ineptitude of the Obama regime....but still, I won't hold my breath.
If they put Sarah up to the task, B.O. is a shoe-in for four more years.
While I think Citi's domestic business growth might be limited, Citi is in a very unique international position, almost to the point of being exclusive... which gives it a huge and unique opportunity to take advantage of global growth, particularly in key developing countries.
When Uncle Sam unloads its shares, I do believe that in several years time, we will see Citi shares approaching a double, again due in large part to its unique international business. I do not see it returning more than that, however (as I once did), but that is still an excellent return, IMHO. I don't believe there are many stocks that offer the opportunity to return a double in that amount of time, or even offer a 50% return. Certainly stocks like QLIK can do so, but again, those are rare. The stock market gives and takes away, and over time, it is nice to find a stock that has a reasonable upside potential in comparison to its downside potential. The most likely risk is that the stock simply doesn't do much at all for a while.
All that said, I don't own a ton of Citi, but I am very glad that I have some in my very diversified portfolio, which is now being handled mostly by my broker nowadays. I really needed a rest from all the daily trading for a while, but he and I still discuss the portfolio enough that I am satisfied with what he's doing. So far, he's doing very well for me in a very short time.
Of course, political interference and global events can ruin any well-intentioned investment plans, so just being in the market itself is a bit riskly these days. However, the last few days proved what I've been saying... the market is poised for a rally. Unfortunately, the recent news isn't the kind that will sustain a genuine long-term rally, but it clearly shows just how anxious traders and investors are for any excuse to run the market up in a big way.
So, if/when we get genuine significant positive data, the stock market will go to the moon.
FWIW... Here's another positive perspective on Citigroup as recent as Friday. And there are many, many positive views from analysyts regarding Citi out there.
Banks Are ‘Really Cheap’—Buy These Names Now: Strategist Published: Friday, 3 Sep 2010 | 3:39 PM ET By: JeeYeon Park CNBC News Associate
Financial stocks have taken a hit over the summer: the KBW Bank index tumbled almost 10 percent since the beginning of May. So will the industry see a rebound in the fall—and should investors get in now? Anton Schutz, president of Mendon Capital, and Paul Miller, group head of financial services at FBR Capital Markets, shared their insights.
“They’re really cheap versus P/E, versus book value,” Schutz told CNBC.
"We’re going to see some return of capital to shareholders and companies like Citigroup [C 3.91 +0.03 (+0.77%) ] and JPMorgan [JPM 39.17 +1.01 (+2.65%) ] have huge tangible common equity ratios,” he continued.
“I think dividends and buybacks will be something we’ll be talking about, as soon as a quarter or two from now.”
Schutz said he also likes the regionals, as he expects to see a wave of M&A activity in the sector.
Miller: 'Tons of Money'
In the meantime, Miller said he favors big and medium-big banks such as Bank of America [BAC 13.50 +0.22 (+1.66%) ] and PNC Financial [PNC 54.93 +0.82 (+1.52%) ].
“We started reserving tons of money over the last 3 to 4 years in these banks, so the reserves are there, credits are improving We have another refi boom going on and the gain on sale margins and the mortgage banking space is very strong. And it's going to help earnings into the quarter,” he explained.
This isn't media hype... it's the outlook from a meeting of "experts"...
Economists: Gloom and Doom Ahead—Especially for the US
Published: Friday, 3 Sep 2010 | 11:28 AM ET By: Associated Press
Is the global economy out of the woods?
Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world.
Here's the whole story... Read it if you don't mind being depressed about the economic outlook.
I don't know how much of my life I would stake on lifer public sector types preaching from a scenic Italian resort, but maybe low growth rates are not a disaster, only the new reality. And heaven forbid, sustainable! Maybe this is how things should have been for the past couple decades. No boom, no bust, just move along. I am generally pessimistic, but I don't believe this is a disaster.
Wow, thanks for the compliments to you and ljflx :shades:
But anyway, I don't think the financial world is coming to an end. I don't have a doctorate in econ or anything, but I think there's enough intelligence and ability out there to keep the ship afloat. Growth is just going to be slower, which in the long run IMO will be a positive ideal. Lending is a big part of it, maybe the driver, along with the idea of "animal spirits" controlling everything.
I don't think the financial world is coming to an end. I don't have a doctorate in econ or anything, but I think there's enough intelligence and ability out there to keep the ship afloat. Growth is just going to be slower, which in the long run IMO will be a positive ideal.
I wish everybody could have listened to Jim Cramer about an hour ago. He was hammering the doom and gloom people and the media in general like you would not believe. I don't normally listen to Cramer but I was driving to pick up a pizza in the neighborhood and my satellite radio happened to be on on CNBC. Cramer is beyond bullish on the market right now.
He cited at least 5 reasons why he believes the market is about to "go to the moon": These include compromises in Congress on the tax cuts, Obama becoming more pro business, an improving European business outlook, China continuing to have a booming economy, and last but not least, the media being SO negative on the market. He is rather fun to listen to. I think he makes some very good points on the state of the economy and the stock market. I LOVE his last reason for a very bullish scenario.
GS, I did not realize the QLIK closed SO strong today. I knew it was higher but wow! Almost to $21. Fantastic!
Finally, did I miss something recently? Did Tony get sick or something? Tony, I hope you are feeling great.
Where is TM, I wonder if this is another false rally for the banks?
I'm right here... just been a bit busy lately.
As you know, I've stated clearly and emphatically in several recent posts that the market is poised to "go to the moon", and that all it needs are some solid reasons to do so. I find it interesting that Charlie is quoting Cramer today. Seems Mr. Cramer agrees with me and is saying much of the exact same thing, although I said it first right here on this forum! Maybe I should be one of Cramer's writers on his show... LOL.
Anyway, the picture on the financials is legitimate, IMO... but I'll feel better once they get through October.
I`v been fine, but this site and Edmunds as whole was off the air for me for a few days, and it finally came back up....I thought to myself how much I would miss all you guys, if it were to be final......
As for the market, I am still leery of it, although I am hoping that it will continue to rise and I can sell my C and WFC and then re enter at a lower price ...always the optimist...Tony
With Citi the highest volume so far today, do you think the Feds are dumping some of their "C" stock?
The fed doesn't sell the shares directly. I believe that Morgan Stanley was given authority by the feds to oversee the sale of Citi shares, and I have seen no reports of any large-scale sale today, which would typically be newsworthy.
While sales of government-owned shares is a possibility, the volume is more likely larger investors coming to the table and getting interested in Citi. IMO, the slight retreat today is natural after the recent gains, and the financial sector's behavior in general.
It's my understanding that there will be a blackout affecting the sale of government-owned shares coming up in October, and also there are many analysts that think the government will not be able to meet its target of selling all its Citi shares by the end of this year. That said, I am still very confident regarding Citi for the loooooong run. Patience is required.
I plan on keeping the 1300 I have. Who knows someday they will be worth $5 a share. Who would have ever guessed my 100+ Krugerrands would be worth $1272 a piece. That is close to $1000 each over what I paid for them. I would sell if I needed the cash for something like real estate.
I find it interesting that Charlie is quoting Cramer today. Seems Mr. Cramer agrees with me and is saying much of the exact same thing, although I said it first right here on this forum!
Yes, you did mention that the market would go "to the moon" if given a good reason. To me however, I really don't see anything that looks very different now as opposed to back in May and June. I was of the strong opinion then as I am now that the doom and gloom people are full of skata (that's Greek for you know what). We will not see a repeat of of 2008 and early 2009. That is why I have held on to basically all my stocks I have been accumulating (taking some partial profits once in a while and buying back on dips) since the spring of 2009. Even my Amazon has made a tremendous recovery the past few weeks after getting hammered. AAPL and QLIK (thanks again GS!) are my biggest winners.
GS, did you state a couple weeks ago that the near term upside potential for QLIK was about 22? If so, we are there. Should I take profits?
I have spent a while over on my home page and I don`t know how to do anything there nor does it show any message from you --that I can tell I`l keep trying, but for me it is fruitless Tony
Did he say anything interesting? He is a cool guy. I saw him at the partner convention in Miami this year. They had technical workshops that was run by the company's founder!
I saw an interview with him on one of the business networks a couple of months ago. He's sharp as a tack, very intelligent, and he sounds like he really has a great vision for his company and there is little doubt that the software is unique and quite awesome.
I can see the potential for many companies to use QLIK's software, so the sales territory for QLIK is still wide open, which makes me believe that there is plenty of growth potential for the company.
I do hope however, that QLIK isn't a one-act company. They will benefit from expansion, plug-in software, and upgrades for the existing product, and most importantly they will need something new and innovative in their pipeline. If they can pull it off, they could be a monster of a company, and their stock could go up 500 - 1000 %. It happens... and it will be fascinating to see if QLIK is one of those terrific success stories.
I am so glad I own shares of the stock, even though I don't own the massive amount I previously owned, but they served me well. I only purchased 500 shares on the last round, but nonetheless I am with GS on this... I'm in it for the looooong run, and if it takes a noteworthy dip, I might consider buying some more.
Always a big thanks to GS for this exciting stock that he has brought to all of us and to this forum.
This software is as simple as MS Access, but powerful enough to serve as enterprise BI tool for Fortune 1000 Co. Also I think they have patent protection on their trade secrets. So yes, I agree that the the market is wide open, especially in an environment which businesses looking to spend good money on BI software that give them competitive advantage.
I don't know if they have any plan for other product, but I do know a lot of people developed apps using QV and sell them as their own products.
Look at Cognos and Business Objects that were essentially one-act company. I think the share holders there did just fine.
Charlie, I think you should first check the OK button to reply to my request of becoming CarSpace friends. I believe only linked as CS friends you can respond to my e-mail.
But if not working, try to send it to this other address: 944607970@telefonica.net
This comment is answering also that of Tony and valid for any other fellow in this thread in case of wishing to communicate with me out of CarSpace net.
Comments
Whatever I make on QLIK will replace the fund I allocated for the LFA. It'll be a cash purchase as required by Lexus. Therefore it would have been silly to count on any return on investments, especially high risk one.
This is a very impressive day for the stock market considering the huge move up yesterday. Obviously there has been no profit taking. The jobs number will be the key tomorrow.
If you are not careful, a bunch of us will be visiting you in Canada after your LFA arrives.
Love that LFA !!
2013 LX 570 2016 LS 460
I'm a subchapter S (most are that or LLC's, which except for ever so slight legal differences are the same thing with respect to tax) so the income passes directly to me as an individual. So whatever he's talking about, and it seems like a lot of political BS to me, I have no clue. What he needs to do pure and siomple is let folks know what taxes will be over the long-term. Without that foundation everyone who is in business and is taxed at an individual basis (and that's every business I know of that wants to avoid double taxation) is frozen. If he's really pro-business and job creation he'd, at a minimum make the Bush tax cuts permanent. I've read so many stories about how lower taxes creates jobs, and I've also read a few about how they d'ont solve the job problem, so why not just raise taxes. But the problem I've had with the latter is that none of them dealt with raising taxes in a climate that featured such a severe credit squeeze and lack of bank lending to small business.
Obama has an unsolvable problem that he himself has created. He wants the worker to get wealthier while the owner gets poorer. Isn't taht what 'spreading it around means" . Short of seizing the business assets that folks own, I know of no way for Obama to achieve his objective in a capatilistic society.
I know exactly what you are saying. My friends with small business do not want to take a chance expanding and get shot down by higher taxes. Or worse the Cap n Trade tax that will be open season on many small and large businesses. This is the most anti business Congress and President in my 67 years in the USA. And there have been some bad ones in the late 1970s.
Gary, this is the worst I've ever seen and the guy in charge is a bookworm with no experience and no know-how. Isn't it amazing how Europe is taking the exact opposite approach and doing almost to a letter what the republicans want to do. The European leaders think Obama is a joke.
THANK YOU. St. Regis is the name of a hotel in NYC that I stayed at several years ago. One of those things where I have a mental block and could not remember that name to save my life!!
2013 LX 570 2016 LS 460
I've found that a lot of American companies tend to ignore the GTA as a potential market, in spite the fact that it is roughly the same size as Chicago in population. You've probably found that too when you had your clients here? So my business partner and I are planning to dominate the area, and Canada too if possible.
Regarding Taxes and Businesses, while I don't follow what's going on south of the border, I do know that we have had some of the highest taxes coming out of the 1989-1991 recession. That lasted a decade while being hit with the NAFTA double whammy where cheap labor were found in Mexico and elsewhere, but businesses and people here had found ways to survive and prosper. Therefore, perhaps your President is borrowing that formula to bring the country out of this lingering recession.
All of which gets back to the jittery market in the USA. Our unemployment does not look to improve with this political climate. Borrowing from the future to insure votes is the policy du jour. We are in an unsustainable situation that continues to worsen with every piece of legislation.
By the way about 1/3rd of my IRA is invested in a Canadian fund FICDX. It is a 5 star fund. Though it has been marginal as I bought in fairly high.
Obama was voted in via desperation about a GOP that had derailed and was unable to offer anything superior, combined with bitter feelings about the chickenhawk war criminal element of the previous regime. The onus is on the GOP and they alone to craft and promote a superior candidate for the next big day. It shouldn't be too tough, given the cluelessness and ineptitude of the Obama regime....but still, I won't hold my breath.
If they put Sarah up to the task, B.O. is a shoe-in for four more years.
When Uncle Sam unloads its shares, I do believe that in several years time, we will see Citi shares approaching a double, again due in large part to its unique international business. I do not see it returning more than that, however (as I once did), but that is still an excellent return, IMHO. I don't believe there are many stocks that offer the opportunity to return a double in that amount of time, or even offer a 50% return. Certainly stocks like QLIK can do so, but again, those are rare. The stock market gives and takes away, and over time, it is nice to find a stock that has a reasonable upside potential in comparison to its downside potential. The most likely risk is that the stock simply doesn't do much at all for a while.
All that said, I don't own a ton of Citi, but I am very glad that I have some in my very diversified portfolio, which is now being handled mostly by my broker nowadays. I really needed a rest from all the daily trading for a while, but he and I still discuss the portfolio enough that I am satisfied with what he's doing. So far, he's doing very well for me in a very short time.
Of course, political interference and global events can ruin any well-intentioned investment plans, so just being in the market itself is a bit riskly these days. However, the last few days proved what I've been saying... the market is poised for a rally. Unfortunately, the recent news isn't the kind that will sustain a genuine long-term rally, but it clearly shows just how anxious traders and investors are for any excuse to run the market up in a big way.
So, if/when we get genuine significant positive data, the stock market will go to the moon.
Now, back to the Labor Day festivities!
TM
FWIW... Here's another positive perspective on Citigroup as recent as Friday. And there are many, many positive views from analysyts regarding Citi out there.
Banks Are ‘Really Cheap’—Buy These Names Now: Strategist
Published: Friday, 3 Sep 2010 | 3:39 PM ET By: JeeYeon Park
CNBC News Associate
Financial stocks have taken a hit over the summer: the KBW Bank index tumbled almost 10 percent since the beginning of May. So will the industry see a rebound in the fall—and should investors get in now? Anton Schutz, president of Mendon Capital, and Paul Miller, group head of financial services at FBR Capital Markets, shared their insights.
“They’re really cheap versus P/E, versus book value,” Schutz told CNBC.
"We’re going to see some return of capital to shareholders and companies like Citigroup [C 3.91 +0.03 (+0.77%) ] and JPMorgan [JPM 39.17 +1.01 (+2.65%) ] have huge tangible common equity ratios,” he continued.
“I think dividends and buybacks will be something we’ll be talking about, as soon as a quarter or two from now.”
Schutz said he also likes the regionals, as he expects to see a wave of M&A activity in the sector.
Miller: 'Tons of Money'
In the meantime, Miller said he favors big and medium-big banks such as Bank of America [BAC 13.50 +0.22 (+1.66%) ] and PNC Financial [PNC 54.93 +0.82 (+1.52%) ].
“We started reserving tons of money over the last 3 to 4 years in these banks, so the reserves are there, credits are improving We have another refi boom going on and the gain on sale margins and the mortgage banking space is very strong. And it's going to help earnings into the quarter,” he explained.
TM
Economists: Gloom and Doom Ahead—Especially for the US
Published: Friday, 3 Sep 2010 | 11:28 AM ET
By: Associated Press
Is the global economy out of the woods?
Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world.
Here's the whole story... Read it if you don't mind being depressed about the economic outlook.
link title
TM
TM
But anyway, I don't think the financial world is coming to an end. I don't have a doctorate in econ or anything, but I think there's enough intelligence and ability out there to keep the ship afloat. Growth is just going to be slower, which in the long run IMO will be a positive ideal. Lending is a big part of it, maybe the driver, along with the idea of "animal spirits" controlling everything.
I totally agree with your assessment.
Tony, good to see you back.
He cited at least 5 reasons why he believes the market is about to "go to the moon": These include compromises in Congress on the tax cuts, Obama becoming more pro business, an improving European business outlook, China continuing to have a booming economy, and last but not least, the media being SO negative on the market. He is rather fun to listen to. I think he makes some very good points on the state of the economy and the stock market. I LOVE his last reason for a very bullish scenario.
GS, I did not realize the QLIK closed SO strong today. I knew it was higher but wow! Almost to $21. Fantastic!
Finally, did I miss something recently? Did Tony get sick or something? Tony, I hope you are feeling great.
Regards,
OW
I'm right here... just been a bit busy lately.
As you know, I've stated clearly and emphatically in several recent posts that the market is poised to "go to the moon", and that all it needs are some solid reasons to do so. I find it interesting that Charlie is quoting Cramer today. Seems Mr. Cramer agrees with me and is saying much of the exact same thing, although I said it first right here on this forum! Maybe I should be one of Cramer's writers on his show... LOL.
Anyway, the picture on the financials is legitimate, IMO... but I'll feel better once they get through October.
I'm liking this market!
TM
As for the market, I am still leery of it, although I am hoping that it will continue to rise and I can sell my C and WFC and then re enter at a lower price
I feel the same way.
TM
I got a question. With Citi the highest volume so far today, do you think the Feds are dumping some of their "C" stock?
The fed doesn't sell the shares directly. I believe that Morgan Stanley was given authority by the feds to oversee the sale of Citi shares, and I have seen no reports of any large-scale sale today, which would typically be newsworthy.
While sales of government-owned shares is a possibility, the volume is more likely larger investors coming to the table and getting interested in Citi. IMO, the slight retreat today is natural after the recent gains, and the financial sector's behavior in general.
It's my understanding that there will be a blackout affecting the sale of government-owned shares coming up in October, and also there are many analysts that think the government will not be able to meet its target of selling all its Citi shares by the end of this year. That said, I am still very confident regarding Citi for the loooooong run. Patience is required.
TM
Regards,
Jose
Yes, you did mention that the market would go "to the moon" if given a good reason. To me however, I really don't see anything that looks very different now as opposed to back in May and June. I was of the strong opinion then as I am now that the doom and gloom people are full of skata (that's Greek for you know what). We will not see a repeat of of 2008 and early 2009. That is why I have held on to basically all my stocks I have been accumulating (taking some partial profits once in a while and buying back on dips) since the spring of 2009. Even my Amazon has made a tremendous recovery the past few weeks after getting hammered. AAPL and QLIK (thanks again GS!) are my biggest winners.
GS, did you state a couple weeks ago that the near term upside potential for QLIK was about 22? If so, we are there. Should I take profits?
I have spent a while over on my home page and I don`t know how to do anything there nor does it show any message from you --that I can tell
That was the opinion of the Analyst at one of the big investment firms, not mine. I am still waiting for something better.
Unfortunately, by the time I realized it was him, I missed the whole discussion.
I can see the potential for many companies to use QLIK's software, so the sales territory for QLIK is still wide open, which makes me believe that there is plenty of growth potential for the company.
I do hope however, that QLIK isn't a one-act company. They will benefit from expansion, plug-in software, and upgrades for the existing product, and most importantly they will need something new and innovative in their pipeline. If they can pull it off, they could be a monster of a company, and their stock could go up 500 - 1000 %. It happens... and it will be fascinating to see if QLIK is one of those terrific success stories.
I am so glad I own shares of the stock, even though I don't own the massive amount I previously owned, but they served me well. I only purchased 500 shares on the last round, but nonetheless I am with GS on this... I'm in it for the looooong run, and if it takes a noteworthy dip, I might consider buying some more.
Always a big thanks to GS for this exciting stock that he has brought to all of us and to this forum.
TM
I don't know if they have any plan for other product, but I do know a lot of people developed apps using QV and sell them as their own products.
Look at Cognos and Business Objects that were essentially one-act company. I think the share holders there did just fine.
But if not working, try to send it to this other address:
944607970@telefonica.net
This comment is answering also that of Tony and valid for any other fellow in this thread in case of wishing to communicate with me out of CarSpace net.
Out of 'office' for a week. I'll read you later.
Regards,
Jose
I sent a message to that address, so I hope it works..Let me know. Tony