350zCommtech's Account Talk

[350zCommTech]

350,
Thanks for the post!

You're welcome.

 

[wv-girl]

Good thing this came out after the bell....

I have banked with NETBANK since its inception. I had an inkling this might happen, made a mental note of it 2-3 weeks ago to get my $ out. Then, as life happens, time goes by and wham. Luckily, I only have a checking acct and a money market acct and both are covered under FDIC. ING has taken it over and we can have access to our online accts to get our money (so they say) anytime after 11pm Sunday(today). They told us we could continue using our bank cards as always and no one turned me down using it this weekend. Thank goodness.

Anyone have any dealings with ING? Or knowledge there of? I would appreciate any input anyone has to share.

Thanks (and tho I can't find an icon to show you--I am kicking myself for not listening to myself)
Debbie

p.s. Sorry 350--if I put this in the wrong thread, let me know where to move it.

 

[ATCJeff]

I have banked with NETBANK since its inception. I had an inkling this might happen, made a mental note of it 2-3 weeks ago to get my $ out. Then, as life happens, time goes by and wham. Luckily, I only have a checking acct and a money market acct and both are covered under FDIC. ING has taken it over and we can have access to our online accts to get our money (so they say) anytime after 11pm Sunday(today). They told us we could continue using our bank cards as always and no one turned me down using it this weekend. Thank goodness.

Anyone have any dealings with ING? Or knowledge there of? I would appreciate any input anyone has to share.

Thanks (and tho I can't find an icon to show you--I am kicking myself for not listening to myself)
Debbie

p.s. Sorry 350--if I put this in the wrong thread, let me know where to move it.

I've had an ING savings account for years now. Never have had a problem. Customer service has always been very helpful.

 

[Aspiration]

I've had ING for a year. No complaints - fast, easy to use. The interest rate could be more competive with other online banks, but I guess that happens when you become "established."

 

[offtrack]

Netbank's closing was big. Markets should have a negative 2% reaction but as pointed out news was released late and buried by the pro-markets media. Also the failure wasn't unexpected but followed multiple SEC filings and a failed buyout of assets by Everbank. But the biggest reason this isn't creating more of a stir, IMO, is that this bank is not being viewed by consumers as a bank in the normal sense of the term. It's a "Net" bank.
The reality is that this was a serious FDIC intervention.

http://www.fdic.gov/bank/individual/failed/banklist.html

AT the FDIC and Bankrate you can check your bank's rating and health. Remembering both the Savings and Loan Crisis of the 80's and especially how Rhode Island Governor Bruce Sundlun closed of 45 banks and Credit Unions on December 31 1991 after bank executive Joseph Mollicone Jr. stole $8 million and a cashier pushed the R.I. Share and deposit Indemnity Corp into unexpected bankruptcy, I find it is beneficial to keep watch on one's affairs. BTW note the date those institutions were closed and imagine who that date benefitted Now just because your bank rates a 2 doesn't mean that you need to worry but you might want to follow things more closely. I'm a bit worried about one bank I have cd's with and will probably pull them when they mature, but my CU also rates a 2 and I have no intention of dropping assets out of that CU.


(sorry to hijack your thread 350. This is where I saw netbank being discussed. Feel free to dump the post if you wish.)

 

[NyteTracker]

Smart move to the F fund, I spaced it before I made my IFT.

 

[350zCommTech]

Smart move to the F fund, I spaced it before I made my IFT.

We'll find out on Tuesday whether it's a good move or not. The F fund should be down 5-6 pennies today. I went to the F because I've noticed many times where the F fund moves big on employment numbers on Friday, only to retrace back on the following Monday.

My original thought was to chase the market and jump to the I fund for a follow through on Monday because of the holiday. But since the USM is going to be open on Monday, I changed my mind.

What's really funny is that yesterday I wanted to use myself as a contrarian and just stay in the S fund. Now, I really wish I did.:nuts:

 

[SCHAGAN]

We'll find out on Tuesday whether it's a good move or not. The F fund should be down 5-6 pennies today. I went to the F because I've noticed many times where the F fund moves big on employment numbers on Friday, only to retrace back on the following Monday.

My original thought was to chase the market and jump to the I fund for a follow through on Monday because of the holiday. But since the USM is going to be open on Monday, I changed my mind.

What's really funny is that yesterday I wanted to use myself as a contrarian and just stay in the S fund. Now, I really wish I did.:nuts:

I was thinking along the same lines as you. I moved from the C/S/I to the F today. I liked the gain that I caught on Monday and today. I couldn't go 100% F though because I got burned every time last month that I moved to it. 50/50 G&F

 

[350zCommTech]

My original thought was to chase the market and jump to the I fund for a follow through on Monday because of the holiday. But since the USM is going to be open on Monday, I changed my mind.

Japan being closed today did not help the I fund. Down 18 cents today. I wonder how Japan will react tonight. Despite the profit taking in the USM market today, the weak Yen should help the Nikkei.

It will also be interesting to see how China opens tonight. After a weak long holiday, the Shanghai should open big tonight. But the Hang Sang is not looking too good. They gave up 600 points in the second half of trading. Maybe it's making a top?

The bond market is closed today. No change for the F fund.

 

[TRUEHONEST]

iShares Lehman Aggregate Bond (AGG) is up on 10/08/07

Did we get the gain (F fund)? Even though the 10 year treasury is close.

 

[350zCommTech]

iShares Lehman Aggregate Bond (AGG) is up on 10/08/07

Did we get the gain (F fund)? Even though the 10 year treasury is close.

No, we did not, due to the bond market being closed.


So far today, it's a one penny gain.

 

[Boxholder]

350, do you think the G penny will pay again tomorrow or did the Holiday this week affect that? I moved to G today for safety, but don't see a safe entering point back into stocks yet. Tomorrow, before the bell, Sallie Mae reports and I just don't see how that can help the market any. At least I don't want to be in it when they report. I don't see any way that her court case can win either.

 

[350zCommTech]

350, do you think the G penny will pay again tomorrow or did the Holiday this week affect that? I moved to G today for safety, but don't see a safe entering point back into stocks yet. Tomorrow, before the bell, Sallie Mae reports and I just don't see how that can help the market any. At least I don't want to be in it when they report. I don't see any way that her court case can win either.

The G should pay tonight. I post that info last Friday in one of the G fund threads.

As for Sallie Mae, they might or might not report the truth. But lately, it doesn't seem to matter. Bad news = buy, Good news = buy more, etc....

There's a lot of momentum right now. We might get a parabolic rise before we get a serious sell-off.

The BOJ announces tonight. They will hold. This and the weakening Yen will help the Nikkei.

Like they say, what's overbought can stay overbought.

 

[Boxholder]

Thanks, that's what I was hoping for. I think I'll stay in G for tomorrow and consider moving back in for Friday. GE is about the only name reporting Friday, and it can't be all good news for them because of their involvement in the credit arena. Retail Sales and PPI reports are out that day, so like you say, maybe bad news will be good news in the eyes of the market. I agree that the market is rampaging right now, but I just went over 20% for the year and I don't want to finish it under that, so I may not be as offensive as I normally would be at this time of the year. With the history of the market ending in the year "7" and October's legacy of big drops, I feel like I should be driving with one eye on the rear view mirrow! Thanks for your insight.

 

[350zCommTech]

Thanks for your insight.

You're welcome.

 

[350zCommTech]

Does this mean the game is over? Techs have been keeping this market up despite all the bad news and earnings warnings. Look at the RSI.

View attachment 2305

 

[Wildboar53]

Hmmm seem to be bucking the trend for Monday with the F fund. But that is where I am also.

 

[350zCommTech]

Hmmm seem to be bucking the trend for Monday with the F fund. But that is where I am also.

It's down a penny so far today. Maybe we'll catch a bounce on Monday.

 

[350zCommTech]

The G fund pays tomorrow.

F fund is current up 1 penny.

The Yen does not look good.

The VIX gapped up but is now trending down.

 

[Birchtree]

Generally speaking when the yen goes up stocks go down and when the yen drops stocks go up. I'm giving you an opportunity to pull a low ball like Griffin so you can ask me not to post in your thread - before you blow those valves again. I'll oblige your request.