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Or you can now use TapaTalk again!Birchtree's Account Talk
- Thread starter Birchtree
- Start date
Birchtree
TSP Talk Royalty
- Reaction score
- 143
"The chart of the Dow shows a 50-day moving average that is attempting to turn up in a bullish manner."
'All Clear' Not Given For Stock Bulls Yet | Chris Ciovacco | Safehaven.com
Birchtree
TSP Talk Royalty
- Reaction score
- 143
To answer your question - only the Shadow knows for sure. I'm just a rider on the storm and will gladly take any positive movement. I suspect however, that there will be an explosion of some magnitude providing amplitude on the charts. Corporate America has been on hold waiting and waiting to hire - so the skies could open up.
Boghie
Market Veteran
- Reaction score
- 198
My money is a very good short term bounce that is probably too late to realize if you don't have assets in C/S/I - or other broad equities funds like BT's external Morningstar tracked 'Wallflower Asset Fund'.
However, with one Presidential contender yakking it up about tax increases and the other talking about tax decreases and neither dealing with the debt overhang, I would not want to be 100% in the market. We know serious spending cuts must be in the offing, and then maybe some tax increases - at least that is the order and the magnitude I would accept. I think an adult acceptance of reality such as that would lead to a huge and sustained boom.
(But SHOW me the large and actual spending cuts before asking me to pony up - I can watch you:cheesy
Birchtree
TSP Talk Royalty
- Reaction score
- 143
Birchtree
TSP Talk Royalty
- Reaction score
- 143
Birchtree
TSP Talk Royalty
- Reaction score
- 143
Well shucks, I've been looking down the barrel of a potential margin call all day - so I sold $137K worth of stock to try and preempt the damage. Going forward I'll have ample buying power to continue my wall flower rescues. I'll figure out my profits later. Today could be the retest and capitulation day. Now I'm in a position to finish up my previous buy list.
Lest I be distracted from your continued non-TSP banter:
why the efff would you do that? what is a "potential" margin call - why don't you wait for a margin call before you dump stock on a big down day. Locking in as much of a loss as you can? ever thought of selling on a big up day? such as occurred last week.
Could it be that you're expecting worse later this week ? (I am). In that case, couldn't blame ya.
Capit? doubt it.......just a low open that's holding firm.....of course, there's an hour left in the session.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
If the market rallies tomorrow I'm now in a cash position to buy more wall flowers - it's kinda like doing gardening. You're learning - it's not always about making a profit and paying taxes - you have to keep building the base for a later time down the road. How much cash you might ask - try $294K. If I were so inclined I could dump that cash into one stock and it would only cost me $4.95. Starting in July I'll get 30 free trades to buy more wall flowers - building income is the objective at this point in time.
sdouglas3
TSP Strategist
- Reaction score
- 8
bmneveu
TSP Pro
- Reaction score
- 64
I'd probably consider diversifying that $294k. $4.95/trade shouldn't mean squat when you're dealing with that much money.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
As a margin player today was essentially a give back money day. I sold $137K with 7 stocks but only had to declare a $15K profit. That doesn't hurt that much - my commission cost was $35. If the market decides to provide an opportunity I'll be adding to my base during the next several days - buying dividend payers and beefing up some of my commodity plays like MCP and CLF. I still think that June has the potential to be a positive earnings month. If I had my choice I'd never sell a stock, but then as a margin player sometimes prudence is more valuable than valor. I'm approaching the profit zone in CX and will undoubtedly buy more of this cement maker. Now that I have the benefit of ample cash I can continue to buy more happiness. We'll see what tomorrow brings.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
I was thinking that now would be opportune to rebuild my sacrificial lamb chop account, espercially if this volatility is to continue - it would help me protect the rest of my base. I may start that tomorrow with something like TRW and AZZ and build up about 10 positions that can be sacrificed as needed. I'm sure this strategy may seem conflicted to some but it's just a flexible technique.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
I like it when the market at least tries to propitiate: AE, MCP, KEX, NFX. Tomorrow should provide the opportunity to begin the process of rebuilding my sacrificial lamb chop account as well as adding to my homebuilders - nice built in profits there so far.
Birchtree
TSP Talk Royalty
- Reaction score
- 143
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