Birchtree's Account Talk

[nasa1974]

I'll be riding the Grand Funk Railroad today - no buying, just relaxing. If we can hold a rally I'll be a strong buyer tomorrow.

[video=youtube;5nhUlKYeUoE]http://www.youtube.com/watch?feature=player_detailpage&v=5nhUlKYeUoE[/video]

 

[Birchtree]

"The question for you is whether the same stoic approach that we took in 2002-2003 and 2008-2009, remaining fully invested and buying what was cheap, that resulted in what still is market-beating performance can work yet again."

http://www.marketwatch.com/story/two-bulls-stay-stoical-in-market-madness-2011-09-29

 

[Elgallo]

Take me back in time brother. Brings back the fond memories from the day. Thanks Nasa.

 

[jkenjohnson]

TZA is up $10/share in my Roth. I thought you were holding some TZA?

There went 1/2 of my $10/share gain on TZA. I give up.

 

[Birchtree]

The market pattern we are seeing today is reminiscent of the middle of August - except we won't place a deep negative tail before rebounding. If we follow, then there is another up move for tomorrow - and I'll chase it. Stocks are still very cheap.

 

[RealMoneyIssues]

There went 1/2 of my $10/share gain on TZA. I give up.

You will get it back :nuts:

 

[jkenjohnson]

You will get it back :nuts:

I'm almost back there already this morning. Roller coaster is making me sick.

 

[Birchtree]

This market today forced me to back up when it was down 100 points and then whipsawed me when it went up 143 points - nothing hurt but my pride. I'll probably spend some of the profits tomorrow. It definitely is a difficult market.

 

[coach222]

"...forced me to back up when it was down 100 points and then whipsawed me when it went up 143 points"

Sounds an awful lot like a trader...very little to do with "buy and hold" especially with the end of the month and ex-dividend that you continually state is your saviour...

 

[Warrenlm]

This market today forced me to back up when it was down 100 points and then whipsawed me when it went up 143 points - nothing hurt but my pride. I'll probably spend some of the profits tomorrow. It definitely is a difficult market.

If the expert on Squawk Box just now is right about us having entered recession, and one that will be bad, the market may get more difficult. He noted that despite the CEO words about good stuff, forward indicators show that the cycle is beginning where sales ahead disappoint. So, if share prices decline, your dividend rates will increase......

 

[amoeba]

6 cans of chili or a share of BAC? wait much longer...you'll get a 2 buck chuck

This market today forced me to back up when it was down 100 points and then whipsawed me when it went up 143 points - nothing hurt but my pride. I'll probably spend some of the profits tomorrow. It definitely is a difficult market.

Warren was on squawk this morning, now he's buying his own shares.....ya know, 99 cent store has some really good armour star chili....would you rather have 6 cans of that or a share of BAC?

I know what I'd do.....with BAC reaching for (another) 52 week low......SELL!!!!....otherwise you'll only get 5 cans of chili by the end of next week. Just think......when it reaches 2 bux, you can buy 3 shares (or 3 bottles of cheap california wine) for your 6$. By then, you may need both.

 

[Birchtree]

I was in back up mode again today - sold 9 stock positions and added to 4 on the lows. The oceanic looked like this for the week: +$71K, +$59K, -$122, +$48, -$83 for a total devaluation of -$27K. Now if we can rally I'll begin repairing the damage to my account - staying on margin. At one point today I had over $300K in wall flower buying power but the drop on the close took most of it away. One of my first priorities will be to add more money to BAC. I did make 507 individual stock purchases on a DCA basis for August and September - I'm ready to start serious buying in October. This correction has been brutal on the small caps and I did anticipate that but not to this extent. I'm looking forward to exceptional golden prices. And I'm not looking forward to doing my taxes and paying up for my gains.

 

[amoeba]

Bow Chicka Wow Wow

That's about all I have to say about your investment choices. Something about dogs, I surmise.

Next week - no major economics - just a bunch of speculation on how lousy the outlooks (not the earnings) will be for the next couple quarters - should be fun, for some of us.

 

[Birchtree]

The intraday lows on the SPX are 1101 and 1114. The Dow lows are 10,604 and 10,597. I think we will hold for the third time and be off to the races. I plan to rebuild my oceanic faster than I normally would because this is an opportunity to get me set for the next several years. If I can make about 300 purchases in October I will be thrilled. I suspose I need to check the tracker and see where my position is - I'm still holding 20C and 80I and will hold for the remainder of the year.

 

[Birchtree]

http://www.marketwatch.com/story/many-markets-are-deep-in-bear-territory-2011-09-30 We always go through these cycles - and the time to buy is now. At least that's what I plan to do as I concentrate on rebuilding my base and locking in those golden dividend yields.

 

[Warrenlm]

What do you think of Jim Cramer's published list of dividend paying stock choices?

 

[amoeba]

What do you think of Jim Cramer's published list of dividend paying stock choices?

It's not an option on the TSP, so I couldn't care less.....

 

[Birchtree]

A few choice comments from TWSJ: "Operation Twist has greater punch than the QE2 program, or should. Operation Twist is taking the exact same amount of interest rate risk out of the market, so it should have effectively the same effect as QE2. It will force all money managers to venture into the riskier realm of whatever they're allowed to invest in." I'll be buying everything I can - instead of just accumulating I'm going to start acquiring large positins of 5,000 shares or better to catch some quick money as we rebound. I'll be loading up on MCP and CLF for example. And of course BAC.

 

[amoeba]

did i not tell you to stay away from BAC? now look

did i not tell you to stay away from BAC? now look....you just lost another 10%.

That stock is the bubonic plague of any portfolio. BAC will wash it's common stock somehow in a GM-like bankruptcy or some such maneuver. Honestly, BM, that company is worth less than nothing.

Too much debt, and no more free government money to make it go away.

 

[jkenjohnson]

A few choice comments from TWSJ: "Operation Twist has greater punch than the QE2 program, or should. Operation Twist is taking the exact same amount of interest rate risk out of the market, so it should have effectively the same effect as QE2. It will force all money managers to venture into the riskier realm of whatever they're allowed to invest in." I'll be buying everything I can - instead of just accumulating I'm going to start acquiring large positins of 5,000 shares or better to catch some quick money as we rebound. I'll be loading up on MCP and CLF for example. And of course BAC.

I just bought more BAC at $5.25 share.