Birchtree's Account Talk

[Rod]

Re: Birchtree's account talk

I decided to stay out of this one. My thinking was these guys got their selves in trouble, let them work their way out of it. NO NO, I wasn't going to bail them out, it worked out well. This kind of stuff usually happens on a big down day, I've seen everything now!:worried: Good Trading! View attachment 4286

 

[Birchtree]

Re: Birchtree's account talk

Ya, I know I stuck my foot in my ear. You say inland Northwest - I had a girlfriend from the apple capital of Washington State - something like Wanatchee of course the spelling is incorrect.

 

[Buster]

Re: Birchtree's account talk

Ya, I know I stuck my foot in my ear. You say inland Northwest - I had a girlfriend from the apple capital of Washington State - something like Wanatchee of course the spelling is incorrect.

You mean Wannahugatree?:cheesy:

 

[Buster]

Re: Birchtree's account talk

I decided to stay out of this one. My thinking was these guys got their selves in trouble, let them work their way out of it.

Notice: no mention gonads..

 

[Birchtree]

Re: Birchtree's account talk

An SPX of 1437 is not unrealistic within a month should banks really rebound. If we see some write-ups in 3Q the shorts will bleed. All this potential rocket fuel has got me dizzy - I better stick to the sweet smell of superlative bull manure. Does anybody you know besides corepuncher feel the big bang is about to go off? It would be a classic bull move to leave the majority looking up straining those rubber necks watching this angle of ascent.

 

[nnuut]

Re: Birchtree's account talk

View attachment 4289Cockadoddledo! View attachment 4287 View attachment 4288

 

[Corepuncher]

Re: Birchtree's account talk

An SPX of 1437 is not unrealistic within a month should banks really rebound. If we see some write-ups in 3Q the shorts will bleed. All this potential rocket fuel has got me dizzy - I better stick to the sweet smell of superlative bull manure. Does anybody you know besides corepuncher feel the big bang is about to go off? It would be a classic bull move to leave the majority looking up straining those rubber necks watching this angle of ascent.

One thing is for sure...after such a prolonged fall, it SURE FEELS GOOD going up 2.61% in one day! If that isn't some crack for the herd I don't know what is! All aboard!

However...at some point complacency may set in...and remember the financials are not out of the woods.

 

[Warrenlm]

Re: Birchtree's account talk

The DJTA closed at 5492.95 +105.21 for a new all-time high. Only 28 more points on the DJUA for its' new all-time high. Yup, uptrends are notorious for sharp and short declines to keep the majority off balance. If the MCSUM rising bottoms lines continues to hold, this would be another divergent structure that would be developing in this same process of correction.

What's your take on the current DJTA trend since June 6 and the implications?

 

[Guest2]

Re: Birchtree's account talk

If that isn't some crack for the herd I don't know what is! All aboard!

Careful, I heard making money is addictive. :laugh:

 

[Birchtree]

Re: Birchtree's account talk

Warrenlm,

We'll have to watch the DJTA - this index may lead us out of the quagmire. A lot of industry is returning to this country because they can't afford the fuel costs to ship their products from overseas and this will further add to the businesses of the transports. I view this as a great opportunity to accumulate stock positions while the consensus holds to a rally in a cyclical bear market - that's the risk and they may be wrong so the best strategy is to be in to win. Being out of the action is a bigger risk. I'm still trying to buy myself into happiness after being pummeled unmercifully - buy banks. Snort.

 

[Birchtree]

Re: Birchtree's account talk

I'm stepping up to the plate this morning and doing some select buying before they all get more expensive and if they drop after the fact that's life in the markets - I believe stocks will only be more expensive two weeks from now. I've already made some nice profits but that doesn't satisfy me, I need even more shares while they remain on sale. This morning I bought: MAS, BBT, BCS,AIG, BAC, RF. these will hold me for awhile until I can raise some more cash - looking for my buy outs to gain some more value then I'll unload. It looks like we may drop into the negative on the Dow intraday then the bulls will kick it back up. I'm doing my small part. Snort.

 

[Birchtree]

Re: Birchtree's account talk

I've been out pulling an hour worth of crab grass out of my St.Augustine lawn - boy is that hard work. But it's good to take a break from this market - tomorrow I'll be mowing.

 

[Birchtree]

Re: Birchtree's account talk

According to my count I've made about 150 individual stock purchases during this prolonged correction - no wonder I'm out of cash. My dividends will continue to be used to DCA their parents. If we are heading back to 14,164 and beyond I'll be forced by my strategy to continue my DCAing only at higher and higher prices but I won't complain because I'm in at some golden prices - I will probably add another 150 purchases as we move forward - such as the game - those that assume the risks weep the rewards - be right and sit tight.

 

[Birchtree]

Re: Birchtree's account talk

We didn't get that extra 200 points after 1500 hours yesterday - let's try again, it would be so easy to spook the mighty paws with a little fuel to toast them at the stake. I'm waiting on SPX of 1437 to finally lock in this bottom of the correction. Snort.

 

[Birchtree]

Re: Birchtree's account talk

I've mentioned previously that I have an Achilles' heel and that is I don't enjoy selling. It now appears that I made some propitious decisions when I unloaded some of my high priced commodity positions - not because I sold for the right reasons, no I sold them because I needed funds to allow me to participate in purchasing financials. It was another case of a necessary sacrifice rather than weeping a profit. Now these commodity stocks are taking it on the chin and the financials are rallying. I liquidated my positions in MOS, AGU, LNN, TRA, CNX and now I'm looking at five takeover stocks that may eventually go for the sale for the same reasons - to buy more value while the opportunity exists. I wish I could hide from the IRS but when you make it in the open market you have to pay the capital gains tax that is 15% - but that is still steep. Oh well, don't cry for me Argentina. If this rally demonstrates that it may be real I'm prepared to add to my positions - more than 150 purchases already made - but more to go if we have enough momentum to push us back to new all-time highs. It may be time to buy more housing stocks. Last year if I recall I made 19 sales and 522 purchases - and the taxes were not pretty. So basically I am a buy and holder but will move when the right sacrifice presents itself - I'm building my base for the longer term. I hope not to be forced to sell any more after the five buyouts are gone - but I remain flexable to all situations enduring my pain levels. Snort.

 

[Birchtree]

Re: Birchtree's account talk

"If prices can break the down trends in the weekly timeframes on the indexes and then rise and exceed the May highs. If that occurs the bear market technicals will be destroyed."

http://www.thechartpatterntrader.com

I don't enjoy chasing stocks to the upside but a girl has to do what a girl has to do and I suppose I'll be chasing stocks to the upside for quite sometime. I'm feeling especially bullish this morning after checking my latest account update from Merrill....you just gotta love that bearish evening star reversal pattern in oil. I need to add to my drillers. This market is acting way cool to scare you many nonbelievers.

 

[Birchtree]

Re: Birchtree's account talk

I'm reminded that bull markets do not like company, the market will do everything and I mean everything it can to make the majority gun shy and keep the bears from recognizing the prevailing trend. IMHO that trend remains upwards. Intelligent investors act out of patience and courage, not panic. Bear markets typically end with more severe pain, bull markets typically begin with a bigger bang. Will that happen this week - dunno. In 2002, at the very start of the bull market, and yours truly was there - remember be right and sit tight - the Dow rose 7.7% in two days. Last week's two day 4.4% rally wasn't even in the top 200 historically. But if this is not a new bull market but rather a resumption of the tried and true mega trend secular bull market from 1982, then what. These last 3,000 points down has only been a head fake correction - no bear market. We may have a big V to take us all the way back to the October 9th highs and beyond providing this is not a herd induced bear market rally. I'm betting on all that available rocket fuel capital to provide some serious momentum that won't be easy to turn off. Be in to win.

 

[Birchtree]

Re: Birchtree's account talk

I've made some nice dollars on my recent bottom purchases and the question now becomes should I put on the yellow rubber suit and take some profits? Nah, these stocks will become longer term core holdings. I am tempted to nibble on the upside but I'll allow a little more buffer before I plunge again - but I'm waiting and it's costing me money. I'm simply trying to contain my greed factor - the higher they go the more gain I lock up. It's just time to be reasonable and be right and sit tight. Sometimes my best decisions are the ones I never made. Snort. I hope to see a serious break out this afternoon - I'm still waiting for my first ever $100K week and I think it's just around the next corner.

 

[Steadygain]

Re: Birchtree's account talk

Bear markets typically end with more severe pain, bull markets typically begin with a bigger bang.

remember be right and sit tight - the Dow rose 7.7% in two days.

Be in to win.

These are 3 rhymes the next 50 new members should be required to memorize.

Thanks Birch

 

[Birchtree]

Re: Birchtree's account talk

I believe the "Rev Shark" is telling people to not get into this rally - I like that. The more distrust the better - he'll flip his position finally at SPX 1350. Not me babe - I'm a rider on this one for as far as it will take me. I just can't get that smell of rocket fuel out of my bullish nostrils. I've got a good start on my first ever $100K week - those financials I've been buying recently are really cookin now. Tomorrow could conceivably be the day we kick some bear butt and take back that last 400 point down day - watch for it. I'm actually waiting for a larger move than that - a new record day can happen at any time. I'm wondering what Maurice Walker will have to say after this week. Going surfin but I'll probably be back - hunting for anything bullish. Snort.