Birchtree's Account Talk

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Retirement is wonderful - I had the best power nap this afternoon. And when I woke up my oceanic account was showing a deposit of $23K - from my tender of CXG leaving me with a $5K profit. I now have buying power to pick up a few lonely wall flowers tomorrow. I sure wish I could get a $28 price on BP. I'll probably beef up my lamb chop account with my coal holdings.
 
I believe the bear trap has been set - this correction within a correction is ending - or should I say the recent consolidation has ended. With all the compression of TA lines on top of each other the expected move is a large one to the upside - limited buying or not. We have a bubble in bonds and when it pops the rush to equities will lift many of my small boats. I just have to remain patient and keep burying those dividends.
 
It's time to DCA a few lonely wall flowers into my oceanic base: CBG, CBI, CBU, CDI, CFI, CMC, CR, ACI. ACI is actually part of my lamb chop portfolio but I couldn't resist my greed factor. Snort. I was informed yesterday that when my account reverts back to the Merrill platform that I will receive 30 free trades a month due to my number of purchases - that fits nicely into my buying discipline - I'll also get a reduction to $5.95 a trade commission once I go past the free 30 trades.
 
My BVF is also being taken out on a buyout merger - that may provide enough cash to reach my 1000 stock purchase goal - even if I extend the time period by 30 days - what does it really matter as long as I keep buying this mega trend secular bull market.
 
I've been hearing this advertisement phrase today: "I am the greatest" by Clay. Honestly this draft dodging coward has about as much value to his life in my opinion as my Mindylou's cat turd. It's enough to make me nauseus.
 
Birchtree said:
I believe the bear trap has been set - this correction within a correction is ending - or should I say the recent consolidation has ended. With all the compression of TA lines on top of each other the expected move is a large one to the upside - limited buying or not. We have a bubble in bonds and when it pops the rush to equities will lift many of my small boats. I just have to remain patient and keep burying those dividends.
Click to expand...

keep up those brilliant predictions (above from 6/23/10); great sell sign for everyone else; I suppose you're right about the "limited buying" part; not sure about anything else. Next holiday weekend could be interesting, especially if the jobs report comes in south, again.
 
Very good chance we will drift higher next week, until friday. Lately, no one has wanted to be in over a holiday WE
 
WorkFE said:
Very good chance we will drift higher next week, until friday. Lately, no one has wanted to be in over a holiday WE
Click to expand...


Drift higher? Maybe......the floor at 1,050 -1,070 has held at least 3X this year.....but that may end tomorrow morning....SPY futures are sharply down.....that can change overnight....but if it doesn't, we may be looking up at 1,000 before the holiday.

Someone seems to know something, and my guess is whatever it is, is bad news.
 
amoeba said:
Drift higher? Maybe......the floor at 1,050 -1,070 has held at least 3X this year.....but that may end tomorrow morning....SPY futures are sharply down.....that can change overnight....but if it doesn't, we may be looking up at 1,000 before the holiday.

Someone seems to know something, and my guess is whatever it is, is bad news.
Click to expand...

Hope your wrong. But July has been a pretty negative month for the market. But then again the market hasn't been following most normal rules lately.
 
Bought more BP at $27.86 this morning - now I'm headed to mow the yard. I wish my accounts would grow like the grass around here does.
 
I may be forced to buy more BP ($27.12) next week if it dares to drop below $27.00. I may track it all the way down to $20 and then track it all the way back up to $60.
 
If it gets back up to 60 without a BK11 within the next 5 years, buy me a RT ticket & I'll mow your grass for a month!:D


Birchtree said:
I may be forced to buy more BP ($27.12) next week if it dares to drop below $27.00. I may track it all the way down to $20 and then track it all the way back up to $60.
Click to expand...
 
A few words about dividends from the print edition of TWSJ 6/26.

"This year through mid-June, there were at least 135 dividend increases or initiations among the companies in the SPX 500-stock index, up roughly 55% from the first six months of last year. And the gains are coming across a broad swath of industries. If the economy continues to gather strength, analysts say, many more companies will likely gain the confidence to boost dividends this year.

The long-term case for dividend investing remains sound. Some research suggests that companies tend to boost these payments ahead of significant increases in cash flow. And dividends often provide a cushion when stock returns sag. That can be especially valuable for income-focused investors like those looking to cover regular living expenses during retirement.

Such investors shouldn't rely on stock-price appreciation to pay bills, since those capital gains won't always materialize when you need them. Now is a good time to look for good dividend yields."
 
you'll like this UK report...
-would be very welcome news for all.

http://www.marketwatch.com/story/bp-may-plug-oil-leak-earlier-than-expected-report-2010-06-27
BP may plug oil leak earlier than expected: report

excerpt:
By London Bureau
LONDON (MarketWatch) -- U.K. oil major BP PLC (BP 27.82, +0.80, +2.96%) may be able to plug its leaking Gulf Of Mexico oil well within a fortnight, as the operation to close the well is further ahead than the company has disclosed, the Sunday Times reports citing engineering experts.
The newspaper says engineer sources in Houston, Texas, say the company could be finished in mid-July ahead of the public target of early August. The broken oil well is estimated to be pumping between 35,000 and 60,000 barrels of crude oil a day into the sea.
Sealing the well faster than expected could save the oil major billions of pounds in liabilities and clean-up costs, the newspaper writes.
Citing sources with knowledge of the operation, the newspaper says the first well has progressed faster than expected, with less than 1,000 feet of rock left to drill before reaching its target.
 
My small blessing today is that I have four dividends coming into my oceanic account for reinvestment and I'm not holding the S fund. I may buy more BP today as well as STO.
 
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