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Just wait until you get that Scotttrade account going full steam ahead. You will be armed and dangerous. Be careful!! I learned a few lessons last week... thankfully in time for this amazing week.
I do want to point out that I am not wreckless with the potential of this trading platform. I have barely put my foot on the gas, but I am making nice steady progress.
My strategy is that if I can gain somewhere between $100 and $1000 every day for a year, I will average a gain of $182,500 yearly. Obviously I did a lot more than that this week, but the market doesn't have to even gain to be able to play the "movement" of shares during the day. The trick is to find the right stock (or stocks) that trades in a stable manner within a fairly tight trading range throughout the day. It is possible to buy at the lows and then sell at the highs, and to do this process over and over and over again... all in real-time.
I love Scottrade Elite. You are going to love it, too.
TM
Sounds well thought out.
I think is is unfortunate that the market is subject to such large swings.
And, the media is hopeless to explain any of this week's action... although they will come up with something, of course... because it wasn't that long ago that they were reporting the end of the world.
TM
TM
Meanwhile RIM did nothing I believe. Show me a dead company and I'll show you RIM. I still believe that the cell phone business is rapidly becoming a two horse race...AAPL and Google.
The good news for me today is that I still own AAPL and a bunch of other stocks with the broker accounts.
My RE broker in FL recent news letter indicated exactly what you've said about the market began to lift off bottom. They said that FL market were the first ones to tank, so it'd also be the first one out. They've also said that in Sarasota the housing inventory is around 6 months, which is bordering a seller market. :surprise:
I am kicking myself for taking profit on C 'too soon' in the last couple of days. My options would have at least tripled. I think it could easily go back to 45-50.
This is very important software. Has Apple lost its way? How could such a blunder have happened?
TM
I made a quick killing on BAC, but I agree C has more upside. I hope so, because I intend to trade C soon.
I think tech stocks also have a little more upside right now.
I am looking for any dips or weakness to buy.
TM
I am also looking to get back into C.
With money going back to equity, I am guessing these two can get back to the level reached back in Jan-Feb this year.
I am hoping for the market to pull back from last week's huge rally, otherwise it is harder for big investors to jump in... but it's anyone's guess at this point. Also, I would like to go deeper into the equities, but only during a nice dip.
The relative light volume has me spooked because there is reportedly still a whole lot of big money sitting on the sidelines. If so, then my question is whether or not that money will start moving into the equities or if there is something significant enough to continue holding it back. And, to take it a step further, if that money is indeed being held back, the question would be "why?".
What are your thoughts on this?
TM
2013 LX 570 2016 LS 460
I am not saying this to bash Obama, but let's face it... this current president is not going to fix the budget situation. He is primarily going to try to bandage it up by raising taxes... but sadly, higher taxation is like injecting anesthesia into an economy that needs just the opposite.
There are plenty of areas to cut spending, but there is little willingness to cut the size of government and its out-of-control spending habits.
I don't think most people realize the current size of our government and just how much its brute size requires in revenues to support itself and its spending spree. It is close to a meltdown mode, whereby there is nothing that can be done to stop it... kind of like a runaway train. More like an obese pig that just eats more and more, or like a drug addict that needs to have more and more narcotics, or perhaps like drunken desperate housewives in a large shopping mall with pockets full of credit cards, and no actual cash.
Regardless of the comparisons, it is very sick behavior that will only lead to self-destruction if not corrected very soon.
TM
I'm calling gun-jumping on all of this tech buying. People are trying to get ahead of the second-half's annual rally in tech, and I think they are way too early. You don't buy Broadcom(BRCM_) or Intel(INTC_) or any of the Philadelphia Semiconductor Index (SOX) right now. You have to wait to see the whites of their eyes, not just their eyes, and that doesn't happen until we get to late August.
Sure, you might want to take advantage of their underperformance and pick some up. But the ones you should pick up are the ones that are undervalued because their stocks are punk, not their earnings. That would be the big data-center stocks, like IBM(IBM_), EMC(EMC_) and NetApp(NTAP_), and you are seeing a big percentage gain today in the latter. Or it would be the cloud stocks, VMWare(VMW_), Citrix Systems(CTXS_) and Salesforce.com(CRM_), although I would tell you that none of these is really "down," per se.
Regards,
OW
I don't believe Obama will budge on his demands, and he is just crazy enough to shut down the government. I say OK, shut it down. It will be painful but this has to stop. The resulting chaos might be enough to convince the American people just how dangerous he really is...
A government shut down is a very dangerous thing...for the government. The people might realize they weren't doing anything anyway.
2013 LX 570 2016 LS 460
Bonds look bad and commodities look over-valued so I think it has to go into equities. Two things holding back money flow and probably will hold it back until August are the debt ceiling issue and the corporate guidance on earnings. A better than expected corporate earnings season for Q2 coupled with a debt ceiling agreement can easily push us to 13K+ by late summer. I do like the real estate signs and so I like banks but I have enough of a position in C for now. These here and there cuts by banks of folks with oppressed mortgage balances (see link at bottom) by major banks is a cheap way of writing off bad assets and getting goodwill so I like it. Plus in most cases it's balanced out by a higher interest rate and almost identical P&I payments so cash is not greatly affected unless the home is sold. Overall I think banks are turning the corner.
GS - Chase trades well over book vaue. It's the bad real estate loans that are really weighing down C and BAC.
http://www.nytimes.com/2011/07/03/business/03loans.html?_r=1&hp
TM
Except that the debt ceiling is hanging over our heads. If not for that I'd completely agree. I think we are looking at an S&P 1500 or so by year end if we can get thru the debt ceiling with no major issues.
Funny how Apple is rising toward the 350's. What's its high around 365? I think investors are scared of a great earnings report and getting back in ahead of it. There's still a 1-2 week delay for iPad2 on-line even though the Japanese production situation has improved so much. So you have to think the demand is through the roof.
Lot of stocks have made new all time highs in the last week including traditional ones like MCD, CBS and BBBY. Good signs.
Oh Len,
How I blew it with my beloved AAPL on my E-Trade accounts! I tried to outsmart the market last week when I sold all my AAPL shares on E-trade accounts thinking that I could buy it cheaper. What an incredible blunder!! The impetus upward (due to Kodak losing their lawsuit with AAPL) started the day after I got out when my wife and I were driving to Akron all day. Now I'm left in the dust
BTW, how is your gas mileage doing with 89 Octane? I think by now you would have had a long enough sample, right?
I am under the impression that you never buy all that many shares in the E-Trade account... so, I'd hardly call it an incredible blunder. Besides, you have hit so many home runs with AAPL, you are like Matt Kemp coming to bat and complaining that he didn't hit another home run.
Your record with AAPL is stellar, so you have little cause to be complaining that you are left in the dust... that's hardly the case. Just go ahead and ease back into the stock before it goes up at least another 15+% by the end of the year, and you'll be fine. Heck, I wish I had owned AAPL shares back when you first bought them. You lucky dog... lucky Greek dog, that is.
TM
Can you even imagine the fallout if the debt ceiling isn't handled? I just have to believe that there will some sort of bandage.
TM
Thank you for the vote of confidence TM. I've done OK with AAPL but I don't know that I could it "stellar". Yes, you are right that I did not have a huge position, but 385 shares was not exactly tiny either. I will likely be getting back in it sooner than later.
I just kick myself for not buying more. I thought Ford would go broke like the others, so played it cautious. :sick:
I've never experienced any thing more than 300% gain. It must be an awesome feeling.
2013 LX 570 2016 LS 460
Glad you stayed steady.
Last week was obviously a great oportunity to buy stocks, and as we move ahead, I think equities are still the best place to be, and I would not be a seller, even if the markets look eerie now and then. Unless there is something very serious that develops, hold on to your stocks, and/or buy buy more.
I have been accumulating stocks and now own shares of 34 stocks. I have included financials in that mix, such as the banks, the brokers and the credit card companies. I have included a mix of auto stocks and auto-parts suppliers. I also have a mix of heavy machinery, and a mix of tech, as well as some miscellaneous.
Today, the banks aren't doing as well as I would like, but I am not day-trading these 34 stocks. They are keepers until the end of the year (although I might duck October, if it turns out to look like a bad month). I will do the usual pruning and weeding and replacing, but now that the correction is clearly over, I am glad and somewhat relieved to finally be back in the market with my longer-term perspective. That doesn't mean I won't also day-trade, but I would not day-trade those 34 stocks that are meant for long-term growth.
I think we will have our nervous systems tested a time or two, but I truly believe that stocks are the best choice, (unless the debt ceiling isn't worked out). I would not be surprised to see 13,500 to maybe even 14,000 on the Dow by the end of the year, provided we don't see any political or natural disasters.
I do want to add that I have left a reasonable cash position on the sideline to take advantage of any significant dips along the way.
TM
Okay, I'm thinking this means that you only get one of your famous "I'm 100% out of the market" messages for the next 5.7 months. I won't even hold you to the October part.
You're clearly successful, but the number of times you totally clean house and sell everything, followed closely by. . .well, a variety of things, is mind-boggling, at least to a plebian like myself.
Keep us posted (as if. . . .).
You probably did not see my post from yesterday. How is your LS doing with 89 Octane?
Btw, I bought a little (150 shares) aapl this morning at about $348.50. I would be "rich" now if I had not sold 385 shares at around $334. I basically sold the low last Wednesday. How's that for perfection :sick: ?
It's why I'm not in and out of what I deem sure stocks.
MPG is unchanged from 93 octane so that's all I use now. Car runs great on the 89 too.
Timimg the market is NOT a good idea for most investors. They almost ALWAYS tend to get greedy because they try to hit the bullseye, which is the single biggest costly mistake.
The simple key is that SOME is ALWAYS better than NONE.
All stocks (even the "sure stocks") go up AND down at various times. Not being invested in the stock market in order to avoid SOME loss is all that is necessary to add to an investor's overall gains.
Regarding your point about "sure stocks"... I have a short list of what I might consider "sure stocks", but I would LOVE to hear yours, since you brought it up.
I think identifying "sure" stocks would make for a VERY productive thread here. Thanks Len.
TM
My experience has been similar with some of the cars I have owned that were supposed to use premium. Mid-grade fuel was typically just fine.
My wife STILL drives her MDX... it just continues to be a good vehicle for her... and it won't die. She always puts in mid-grade instead of premium. I sometimes had put mid-grade in the Jaguar.
I never tried it in the Lotus, or any of the Porsches, however.
The little CT runs on regular, of course... but I think it could run just fine on Vodka or Tequila, if necessay.
TM
Jobs Forecast
This is rear-view mirror stuff but sobering.
Regards,
OW
Wife's ESPP (again, company sold) allowed us to pay off our 30 year mortgage about 20 years early. Woulda/shoulda/coulda bought more...
I've had big % growth on EMC and ORCL, of course, small positions as I'm conservative and a coward
And, losers? I've had a few....too many...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
I am not very good at math but doesn't that mean that if you had invested about $17,800., it would now be worth about $100,000,000.?
Now that is the way to get RICH !
2013 LX 570 2016 LS 460
I live down the road from an "Automile" which includes Jag/LR, BMW, MB, Audi (wife will probably be getting an A7 this fall) Infiniti and Ferrari/Maserati. I drive it 2x/day on my commute. Nice drive!
I'm sure you will have your LF-A. Shoulda QLIK'd when you recommended! As well as F... Oh, well. Next "correction!"
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
That's why I'm thrilled with the return %, but woulda/shoulda/coulda...
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
2013 LX 570 2016 LS 460
Tag,
It's of course changing over tiime but some stocks I'd put up as sure right now are AAPL, MCD, BBBY, IBM etc. I have others but no time to post. I'm not in and out of these at all despite a drop as they will return to all time highs IMO. I never blinked at AAPL's fall as I couldn't understand it. I'd be scared to death with a major drop in anything that is super high multiple like amzn but it does keep proving me wrong. It's all a matter of risk. BTW reports on CNBC today that hedge funds are pouring a lot of cash into the market and are most focussed on small cap.
I basically play the market safe but I always look for the one stock I think will rise a lot from a low point. In the past I had Sirius for this and it rewarded me well. Right now that stock is is C and I think banks are poised to make big gains especially if the debt ceiling issue is resolved.
Now I know how you felt when you got stopped out on AAPL when you were traveling I think a couple years ago. For what it's worth, I bought 90 more shares today. But it sickens me to think that I was long AAPL at an average cost of about $329 and I got stopped out at about $334. Now, I have been chasing it between $347 and $355. The stock is truly acting terrific now. If it sells off significantly between now and the quarterly report, I will have some money left over to buy more.
I'll never forget it when TM was advising me a few weeks ago not to be married to this stock, and my reply was that I was "married" to it. So, what did I do? I "divorced" it like a coward. :sick:
Same advise Charlie. NEVER be married to a stock... especially a tech stock.
Jim Cramer said the SAME thing on today's Mad Money show!!!!!!!
Not being "married" to a stock does NOT mean that you shouldn't be invested in it. That depends on the merits of the stock, rather than an emotional attachment, which is what I was referreing to. So let's be clear that I have NEVER suggested that you not invest in a stock that merits investment, but I did caution you that the stock was retreating quickly at the time, and that you needed to be careful that your investment decisions were based on sound investment reasons, and not emotional reasons... in other words being careful not to ever be emotionally overly-attached ("married") to the stock.
I will NEVER change that advise to anyone! It's good and sound advise no matter how you want to make it sound. In fact, Jim Cramer had one of the best shows today that I've ever seen. The same show is broadcast twice every day, so If you get a chance to see or record the second broadcast of the show, I STRONGLY suggest you do so.
In fact, I would hope EVERYONE here gets the chance to see today's show, as it covers almost everything I've been trying to say here for a long time about market "timing", and when to buy and sell stocks, and not to be "married" to any stock, particularly any tech stock... and why it's good to hold certain stocks and not to hit the panic button, but to know how to sell to avoid losses, and how to buy during significant dips, and that it's not necesssary to hit a bullseye to avoid some loss, and lots more that I've posted here many times. Yesterday's show also had a lot of VERY informative information, such as how to understand the value of a stock and the difference between trading and investing.
Two of the best back-to-back shows Cramer has ever done... IMHO.
EDIT: Charlie, I strongly suggest you NEVER listen to my suggestions again. You run the risk of misunderstanding them, as you obviously did regarding being "married" to AAPL, and I sure don't want the guilt thrown on my shoulders if you make a bad decision (like a "coward") and then infer that I had something to do with it. I'm sure Jim Cramer can explain it better than I, and that's why I hope you watch today's show. And, just for the record, I am really offended by your post... by the way you worded all that. It's just another reason for me to consider being done with this forum... That makes two strikes Charlie. Next one is strike three.
TM
As Harry Carry use to say, Holy Cow"! NEVER in a million years did I think my remarks would offend you. To begin with, I admitted that I WAS "married" to AAPL. You had absolutely NOTHING to do with my getting stopped out last week. It was all my doing. I used the word "beloved" about my AAPL as well.
I DID NOT misunderstand anything you said about it at the time. After all, I know a few things about trading myself since I have been trading commodities for many years. I know all about the fundamental rules of trading. One of these is to not be emotionally attached to a stock or commodity. But as Len stated above, I had good reason to love/stay with AAPL as it was heading south, but finally gave up since it was acting so horrible compared to the Dow. I then started to accumulate shares again in the $320's as it started to act better than the Dow. But, like a "coward" I got out at about $334 because I tried to basically outsmart the market last week. What did that have to do with your advice about not being married to a stock from a week or two earlier? ABSOLUTELY NOTHING! I think you are being ultra sensitive about this. I have no one to blame about AAPL but myself. I was just pointing out to Len that when you said I should not be "married" to AAPL, I remember answering that I was "married" to it. But in spite of me being "married" to it, I sold it last week like a "coward". I was just reminiscing about it but NOT that you had anything to do with it.
BTW, I like Cramer's show as well. He is really good at what he does. Unfortunately, I did not get a chance to watch him the past week as my wife and I have been visiting our daughter and her family in Akron, OH and thus had "more important" things to do.
As far a AAPL goes, it recently proved that in some ways it's just like any other stock... it's vulnerable to market fluctuations and trader sentiment.
Anyway, enjoy the time with your daughter and relatives. That's what matters most.
TM
EDIT: I admit I'm a bit jumpy right now. I just received a notice from the IRS, and they seem to have a very serious multi-million dollar question, that appears to be their mistake, but I can only pray there is not some sort of liability on my part. My accountant is apparently on vacation for a couple of weeks, and I am obligated to reply to the notice soon thereafter. I can only imagine that I will not be able to sleep well for weeks... until the matter is resolved somehow. :surprise: :sick: