Those interested in stock market: - One new high

[tradergirl]

That''s what they pay me for. LOL. I think this one is the real thing, i.e., will last more than 2 days.

 

[Harriet]

Thanks for the tip, TG.

 

[Dancing Fire]

Date: 3/10/2009 12:24:02 PM
Author: Beacon
About time.

I feel like the blood is back in my body..................at least some.

Beacon made a killing on SPY today.

 

[Beacon]

You are nice DF. I do have some SPY, but where I did make a decent trade was my last week purchases of GE and WFC - which I think you saw on the other thread. But I was just lucky with the timing. I didn't have a point of view like TG had. Did you buy any of the banks as you thought you might? You are also up today. Better than Vegas?

It's so unusual to actually see an up market.....

 

[Dancing Fire]

Date: 3/10/2009 7:02:14 PM
Author: Beacon
You are nice DF. I do have some SPY, but where I did make a decent trade was my last week purchases of GE and WFC - which I think you saw on the other thread. But I was just lucky with the timing. I didn''t have a point of view like TG had. Did you buy any of the banks as you thought you might? You are also up today. Better than Vegas?

It''s so unusual to actually see an up market.....

i woke up too late the day when financials hit new lows

i was looking to buy some WFC or JPM. the only financial i hold now is UYG which i''am way underwater on.

i did buy some QLGC today at $9.75. i done couple of good trade with QLGC in the pass.

 

[tradergirl]

Check out SKF and SRS. Live by the sword, die by the sword.

 

[Dancing Fire]

Date: 3/10/2009 7:32:39 PM
Author: tradergirl
Check out SKF and SRS. Live by the sword, die by the sword.

and still tanking in after hrs trading. we might see a couple more up days on financials.

 

[tradergirl]

Hey, DF: Amazon''s breaking out toward your short target. Do you dare?

I wouldn''t.

 

[Harriet]

Date: 3/10/2009 7:02:14 PM
Author: Beacon
You are nice DF. I do have some SPY, but where I did make a decent trade was my last week purchases of GE and WFC - which I think you saw on the other thread. But I was just lucky with the timing. I didn''t have a point of view like TG had. Did you buy any of the banks as you thought you might? You are also up today. Better than Vegas?

It''s so unusual to actually see an up market.....

Hey, A asked if you bought GE for speculation or investment.

 

[Dancing Fire]

Date: 3/11/2009 5:34:55 PM
Author: tradergirl
Hey, DF: Amazon''s breaking out toward your short target. Do you dare?

I wouldn''t.

a few yrs ago i shorted AMZN @ $20 and kept on shorting til it hit $40

then i gave up when it hit $59,of course i loss my A$$.

i shorted KKD @ $30,when it hit $35 i covered my shorts and of course KKD started to head south after i cover.

 

[Harriet]

DF, you''re a wanted man.

 

[diamondseeker2006]

Okay, I am going to ask a very basic and probably dumb question here in an obscure place! For those of us with regular mutual funds and 401ks invested in cash, bonds, and index type funds, what should we do now...pour some cash into the stock funds or take the money out of the stock funds and put it into cash? We only lost about 20% of my husband''s 401k because we were pretty conservatively invested at the time. (Of course, he had a lot of stock options that are going to be worthless since the stock is about 40-50% lower than the options!) So we really don''t want to be in a position to take any more big hits, yet I am not at all sure cash is going to be worth much long term either!! A stock broker friend has already told us to rebalance everything to our original proportions. But the market has fallen futher since he said it!!!

 

[tradergirl]

I''d attempt a little market timing. My god, you''re talking about buying at 12 year lows! Everyone says "buy low, sell high" but it''s a lot easier to say than do, isn''t it?

 

[Harriet]

DS,
Some stock may still fall further, even to 0.

 

[diamondseeker2006]

Well, that''s what makes this difficult! We do dollar cost average since small amounts of new money go into the stock funds monthly. But it''s too nerve-wracking to me to try to deal with individual stocks. We tried that in the past and didn''t do any better than we did with funds overall, and there was less risk. So I still don''t know what is the wise thing to do!

 

[tradergirl]

Just use Vanguard index funds. Cheap and they get you the exposure you want. I''d look at Russell 2000 and Nasdaq funds myself.

 

[tradergirl]

as mentioned this weekend, agree or disagree in principle (I disagree), it is very supportive of a big rally

Congress May Force The SEC To Suspend Mark To Market
John Carney|Mar. 12, 2009, 11:10 AM|
PrintTags: Wall Street, Stock Market, Banks, Politics, Congress

The prospects the the reform and possible for suspension of mark to market accounting rules are looking brighter this morning. About an hour ago, at 10 am, the House Financial Services Subcommittee began its hearings on the issue. Right off the bat, the chairman of the panel signalled strong support for reform.

Congressman Paul Kanjorski said he might force the hands of the Securities and Exchange Commission and the Financial Accounting Standards Board by introducing legislation to require reform. This is a 180 degree turn for Pennsylvania Democrat, who had previously said Congress shouldn't intervene in establishing accounting rules such as the so-called mark-to-market standards now at issue.

The news of this stance is spreading across trading floors. It is generally viewed as a strongly bullish sign, providing relief to troubled financial institutions that may be in peril of falling under regulatory captial and reserve requirements

 

[Beacon]

Date: 3/11/2009 8:39:59 PM
Author: Harriet

Date: 3/10/2009 7:02:14 PM
Author: Beacon
You are nice DF. I do have some SPY, but where I did make a decent trade was my last week purchases of GE and WFC - which I think you saw on the other thread. But I was just lucky with the timing. I didn''t have a point of view like TG had. Did you buy any of the banks as you thought you might? You are also up today. Better than Vegas?

It''s so unusual to actually see an up market.....

Hey, A asked if you bought GE for speculation or investment.

Who asked me this? I didn''t see it.

Hmmm, that stock is up a bizarre 50% since I bought it. It has good news today b/c the credit downgrade was lighter than expected. They have about a jilllion problems in real estate, loans in countries that cannot pay, credit card receivables that won''t come in. These are all featured prominently in the news.

Do you see where I am going with this? Every man and his dog knows GE is a mess. So that was well reflected in the price. I''ll stick around and see what happens. I may get rid of it, and book the gain, we''ll see. WFC I will keep longer. I own many stocks and I like them. Market is poor but prices are nice.

I buy companies, not markets.

 

[Beacon]

Date: 3/12/2009 12:45:33 PM
Author: Beacon

Date: 3/11/2009 8:39:59 PM
Author: Harriet

Date: 3/10/2009 7:02:14 PM
Author: Beacon
You are nice DF. I do have some SPY, but where I did make a decent trade was my last week purchases of GE and WFC - which I think you saw on the other thread. But I was just lucky with the timing. I didn't have a point of view like TG had. Did you buy any of the banks as you thought you might? You are also up today. Better than Vegas?

It's so unusual to actually see an up market.....

Hey, A asked if you bought GE for speculation or investment.

Who asked me this? I didn't see it.

Oh I finally get who asked.

I bought it cause it appeared priced to fail and much of the evident bad news was in the price (e.g. credit downgrade, divi cut). I do not have a point of view on the timeframe on this one. I will see what information develops. There are many legitimate concerns; it's a nervewracking one.

 

[Abril]

Date: 3/12/2009 6:45:08 AM
Author: tradergirl
Just use Vanguard index funds. Cheap and they get you the exposure you want. I''d look at Russell 2000 and Nasdaq funds myself.

Good advice.

 

[Dancing Fire]

Date: 3/12/2009 12:45:33 PM
Author: Beacon

Who asked me this? I didn''t see it.

Hmmm, that stock is up a bizarre 50% since I bought it. It has good news today b/c the credit downgrade was lighter than expected. They have about a jilllion problems in real estate, loans in countries that cannot pay, credit card receivables that won''t come in. These are all featured prominently in the news.

Do you see where I am going with this? Every man and his dog knows GE is a mess. So that was well reflected in the price. I''ll stick around and see what happens. I may get rid of it, and book the gain, we''ll see. WFC I will keep longer. I own many stocks and I like them. Market is poor but prices are nice.

I buy companies, not markets.

me too, only mine ain''t worth what i paid or went under. think i got like 6 or 7 companies in my portfolios that are worthless

 

[Dancing Fire]

Date: 3/11/2009 9:46:43 PM
Author: Harriet
DF, you''re a wanted man.

is she pretty?

 

[Dancing Fire]

Beacon, are you adding up the profits?

 

[Beacon]

Date: 3/16/2009 1:05:10 PM
Author: Dancing Fire
Beacon, are you adding up the profits?

Hah! Not really. Keep my head down, try and not pay attention to it. Don''t want to have any emotions regarding any of that.

Tell you this story: I am refing my home loan and last week the appraiser came to my house. This appraiser had a lot to tell me. He told me all about the terrible trouble we are in, how all the banks made foolish loans and then those loans were pledged as collateral for a million terrible CDOs. They are all unraveling and things are now totally broken down. This is a disaster and it will be years before it''s any better.......

I nodded patiently and looked interested where it was appropriate. When the guy who comes around to appraise my home tells me all about the terror of our times, I think it''s pretty well distributed!

But I joined you today and this morning took on a well known and terrible performing large cap tech stock - you own.

 

[tradergirl]

I''m short for a trade after the SPY couldn''t break out over that double top around noon. I''m wrong if it gets over 80 with volume but I''m guessing tomorrow could be down hard.

 

[Dancing Fire]

Date: 3/16/2009 1:23:50 PM
Author: Beacon

Date: 3/16/2009 1:05:10 PM
Author: Dancing Fire
Beacon, are you adding up the profits?

Hah! Not really. Keep my head down, try and not pay attention to it. Don't want to have any emotions regarding any of that.

Tell you this story: I am refing my home loan and last week the appraiser came to my house. This appraiser had a lot to tell me. He told me all about the terrible trouble we are in, how all the banks made foolish loans and then those loans were pledged as collateral for a million terrible CDOs. They are all unraveling and things are now totally broken down. This is a disaster and it will be years before it's any better.......

I nodded patiently and looked interested where it was appropriate. When the guy who comes around to appraise my home tells me all about the terror of our times, I think it's pretty well distributed!

But I joined you today and this morning took on a well known and terrible performing large cap tech stock - you own.

my rich friend Beacon that stock is up .65 today.

i got in @ 29.98

 

[Beacon]

my rich friend Beacon that stock is up .65 today.

i got in @ 29.98

Well DF, I ain''t counting my money yet. The market giveth and the market taketh away too! We can only hope for the best. One is fortunate to still be breathing in this kind of marketplace.

 

[tradergirl]

Check this out. Potentially 5B in hedge fund losses on Citi

http://zerohedge.blogspot.com/2009/03/graphic-representation-of-citi-arb.html

 

[Harriet]

TG, have you been following the Dreier debacle? I was feeling burnt out a while ago and actually sent them my resume (boutique firm near home, and next to a chocolate store)!

 

[Beacon]

Date: 3/19/2009 12:20:02 PM
Author: Harriet
TG, have you been following the Dreier debacle? I was feeling burnt out a while ago and actually sent them my resume (boutique firm near home, and next to a chocolate store)!

I followed that for a bit. What a criminal! He can be cellmates with Madoff.

Amazing story and he was so shockingly bold, even tried to impersonate other people to make his fraud work. Makes it hard to trust anyone.

Thank goodness you didn''t end up working there, (if only for a short time).