12%ayear's Account Talk

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There's a conspiracy here I tell ya. :) Everytime the market starts to make a upswinig someone flips a switch and drives it back to the -200's. It's happened twice today. At this point down -94.0
Geaux
 
volume is pathetic on this bounce... this will be short lived, unfortunately. As long as we finish green.

I bought a falling knife today and I feel lucky to have not cut off my hand. Most likely, I'm a seller tomorrow.
 
This is my quote from James48843's account las night :

"Here is one view. Down 500 on the Dow in the morning, then we shoot up as the shorts cover. Waaaay too bearish out there right now. Everyone is petrified now. Everything is going to be dumped in the morning and then....there won't be anymore sellers. Then what do we do with the millions of shorts who just piled in?

I'll be doing lots of buying into tomorrow's gap down...

Anytime you see a panic like we had today you buy the gap down the next day. Any move at the open tomorrow will be pure emotion. Things are being thrown away right now as if the entire world is going to come to an end. That has been a bad bet as long as it's been wagered. I love these markets. Economy is not doing what the market thinks it is. 1998 did not spill over into the rest of the economy and neither will this."
 
so what did you buy?

caymanbrac12 said:
This is my quote from James48843's account las night :

"Here is one view. Down 500 on the Dow in the morning, then we shoot up as the shorts cover. Waaaay too bearish out there right now. Everyone is petrified now. Everything is going to be dumped in the morning and then....there won't be anymore sellers. Then what do we do with the millions of shorts who just piled in?

I'll be doing lots of buying into tomorrow's gap down...

Anytime you see a panic like we had today you buy the gap down the next day. Any move at the open tomorrow will be pure emotion. Things are being thrown away right now as if the entire world is going to come to an end. That has been a bad bet as long as it's been wagered. I love these markets. Economy is not doing what the market thinks it is. 1998 did not spill over into the rest of the economy and neither will this."
Click to expand...
 
fedgolfer said:
so what did you buy?
Click to expand...

I bought goldman, rimm,apple, and a number of smaller ones because they are great stocks and have been getting hammered. I also bumped up my position in tsp for tomorrow. I could get killed but I think it was the smart move. Time will tell I just think the shorts are going to take profits and people are going to start realizing there are some very good cheap stock out there. It might take a month or two but there will some very nice profits when it is all said and done. Why wouldn't you buy on the cheap ?

Greg
 
caymanbrac12 said:
I bought goldman, rimm,apple, and a number of smaller ones because they are great stocks and have been getting hammered. I also bumped up my position in tsp for tomorrow. I could get killed but I think it was the smart move. Time will tell I just think the shorts are going to take profits and people are going to start realizing there are some very good cheap stock out there. It might take a month or two but there will some very nice profits imho.

Greg
Click to expand...

Were you looking over my shoulder?! I bought RIMM too... was looking at GS too but didn't. GL on the RIMM!!
 
Nice comeback for the markets. I am happy that nobody lost capital today. NASDAQ is way oversold.
 
Last edited:
caymanbrac12 said:
I bought goldman, rimm,apple, and a number of smaller ones because they are great stocks and have been getting hammered. I also bumped up my position in tsp for tomorrow. I could get killed but I think it was the smart move. Time will tell I just think the shorts are going to take profits and people are going to start realizing there are some very good cheap stock out there. It might take a month or two but there will some very nice profits when it is all said and done. Why wouldn't you buy on the cheap ?

Greg
Click to expand...
I was a buyer of YHOO...just too cheap...Financial are being given away at these levels. Remember when nobody wanted oil stocks? Buy when nobody wants them, sell when everyone wants them. It seems the markets might of found the bottom. I am expecting some good news soon. There is just too much negative news out there. Today showed me that the markets have found a cushion and bounced off of it. Maybe, just maybe ,a new new is possible.
 
WHERE'S THE CUT, BEN?
avatar174362_23.gif
 
caymanbrac12 said:
I bought goldman, rimm,apple, and a number of smaller ones because they are great stocks and have been getting hammered. I also bumped up my position in tsp for tomorrow. I could get killed but I think it was the smart move. Time will tell I just think the shorts are going to take profits and people are going to start realizing there are some very good cheap stock out there. It might take a month or two but there will some very nice profits when it is all said and done. Why wouldn't you buy on the cheap ?

Greg
Click to expand...

I bumped up my position as well....to 100% stocks for Friday. Looking at the DOW JONES INDUSTRIALS chart, this action is very similar to the dip(crash, bomb?) that occured from early July to 8/16:

A cross of the 20 MA down thru the 50 MA....
culminating in a HAMMER candle, bouncing off the 200 MA.
If that pattern holds, we could see a similar recovery from these levels - although I think there is more uncertainty and doubt with this 2nd downturn, so there may be more consolidation and volatility before any real uptrend takes hold........but whuddoiknow :toung:
 
phillyfed said:
The Dow will correct back to 12,800 IMO near term. Once it broke 1490 today on the S&P it is almost a sure thing.

Best advice is to stay aside until so, then start $costavg. backin SLOWLY as this could be merely a correction (lets hope) or a sign of further damage to come. I can see all the justifications for a 20% pullback off the 14,2 highs, which would put the DOW around 11,500.

DOW 12,800 IS NEXT IMO. Stay out until then and avg. in when it hits. That is the next inflection point.
Click to expand...

Today I'll buy a couple of stocks I like. CSCO, AKAM.........

Look for a dead cat bounce today (futures down 100 as I write this) Bias is downward thou. Your just catching a falling knife IMO

Im 100% in G for the past 2 weeks. (except 1 day) Took 40%I dip on one day and got lucky.

Be ready to start $costavg early next week. Look for another 300 pt down day.

Still waiting for the 12,000's before I start dipping

JMHO
 
fedgolfer said:
playing in this kind of tape/volatility on the handcuffed TSP/ift accounts is looking foolish -- you're right, imho.
Click to expand...

Im going in the market w/ TSP IFT 15% position for Tuesday. Once we hit bottom, you know we are bouncing 2.5% in one day. 15% wont kill me.

Im losing 1000's in my Aetna IRA daily that I am limited in trading. :mad:

My CSCO order got filled @ $28.35

Good luck all
 
I was buying YHOO,AAPL,QQQQ,and EBAY today. This is what mutual funds/hedge funds want. They want to scare you out of the market and buy cheap shares. Look for 14000s before the end of the year. :) NASDAQ lost 7% in a week. Buy here.
 
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