Birchtree's Account Talk

[Birchtree]

Well there goes my potential $100K week in the oceanic - but I may actually move up the tracker a little if the S funds bleeds before the close. I'm going to go make a few more wall flower purchases on this weakness - it's a small blessing.

 

[Steadygain]

Diversification - means I Fund will more than hold us over


Hey Happy Black History Month -- brother


How's Mandy doing Birch?

On a whim I went to Walmart the other week and got a package of Cheddar Cheese Curds (DILL) for the first time along with the other stuff I was going there for. Sometimes Ella takes awhile to get in the mood to eat so I tore a 'curd' in a bunch of pieces and she absolutely goes crazy over it. It's just amazing how fast she gobbles it down if she's 'psyched' into believing it's filled with magical treats.

Well back to the grinding stone.

 

[jpcavin]

I remember the classic line from the first Superman movie. When Louise Lane says well Superman just how big are you. I'm expecting the next question: I'm holding a long market value of $4M. That's how much I've got working for me in my oceanic account to the upside but it will also work against me on the downside during a blindside. Preparation is really the saving grace - thus the lamb chop account.

That really wasn't my next question. It was actually, "what type of account is the Oceanic"?

 

[jpcavin]

Diversification - means I Fund will more than hold us over

I'm out of IFT's and sitting in the G until March. I allocated my bi-weekly contribution 50/50 C/I. Hope that brings in a few centavos.:notrust:

 

[Birchtree]

My oceanic account is my margin account and I fully expect to grow it at least $2M more before this year is out - and that may be a conservative estimate. I just bought my last bouquet of wall flowers for today: STI, FDP, TPC, KMT, AP, ARJ. I still have more flower power and if we start to rally strongly I'll probably pick up a few more before we close - otherwise I'm resting and thinking about my yard and garden.

 

[jpcavin]

Birch
I meant, is it an IRA or something else?

 

[Birchtree]

The oceanic margin account is a wide open taxable account where long term gains are taxed at 15% and dividends are taxed at 15%. This is one way I try to control my adjusted gross income for tax purposes. I'm currently benefiting from gains without the tax consequences but there is no required minimum distribution at any age - so alot of my gains are tax sheltered. I'm also thinking about my heirs for later.

 

[jpcavin]

The oceanic margin account is a wide open taxable account where long term gains are taxed at 15% and dividends are taxed at 15%. This is one way I try to control my adjusted gross income for tax purposes. I'm currently benefiting from gains without the tax consequences but there is no required minimum distribution at any age - so alot of my gains are tax sheltered. I'm also thinking about my heirs for later.

Pretty savvy for a medical type.

 

[hotwings]

BT,

What's your opinion/outlook for the bank stocks, specifically JPM, C, BAC and WFC? Shall we continue to accumulate with a 1-2yr investment period in mind?

TIA

 

[jpcavin]

BTW Birch
Were you aware that Berkshire Hathaway dumped all their holdings in BAC?
http://www.bizjournals.com/sacramento/news/2011/02/15/warren-buffet-dumps-bank-of-america.html

 

[Birchtree]

Most certainly - I own three of those and many others. I think we'll see some M&A consolidations as the banking industry continues to grow. Their infrastructure alone is worth more than their current stock prices.

 

[Birchtree]

jp,

I knew that about BAC but who cares what he does - he voted liberal.

 

[jpcavin]

jp,

I knew that about BAC but who cares what he does - he voted liberal.

LOL. It just made me think...did he sell off because he knows it's going to tank and he's going to buy it back right before the government bails them out?

 

[Birchtree]

My little runaway, run, run, run, runaway. Look at him go. Don't fade this young bull yet.

 

[Birchtree]

Mindylou is beckoning me for our power nap.

 

[Steadygain]

Well Birch, I'm about to wrap the story up.

I'll have ya take Blue in your new home ...

finish it up next week.


Have a great weekend

 

[Birchtree]

Well with a 73 point Dow gain on the day it didn't work out the way I wanted. The small caps were in give back mode and kept me from locking a $100K week - but then again there is a four day week on the horizon and it could be hot. Here is what happened in the oceanic for the week: +$33K, -$23K, +38K, +31K, -$14K for a gain of $65K. That leaves me $190K short of my goal of making $2M of the March '09 low. Patience is certainly required but I'm making progress. And I still have flower power available for next week.

 

[McDuck]

Fear of 'Catastrophic' Crash Rising Despite Bull Market
http://www.cnbc.com/id/41655262

 

[Birchtree]

Well that would certainly without any doubt tighten up my sphincter if it happened again.

 

[Birchtree]

"Nouriel Roubini has apparently just turned bullish on the U.S. stock market. There is no hard and fast rule that says wedges must break in a particular direction. but some form of acceleration is almost assured, regardless of direction."

http://seekingalpha.com/article/253575-the-teflon-market-when-will-it-correct