Birchtree's Account Talk

[Birchtree]

Re: Birchtree's account talk

The Fed Beige Book today could be a huge market mover. Mary Ann Bartels of Merrill Lynch says that the combined buying power in the equity market was roughly $16 trillion and once the tide turned and hedge funds decided to go long again it was going to be a strong rally.

 

[Steadygain]

Re: Birchtree's account talk

S&P 500 projected to top 1,600 by end of 2009



Later Birch

 

[Birchtree]

Re: Birchtree's account talk

If it does go that high....maybe I get the last laugh.

 

[Birchtree]

Re: Birchtree's account talk

The 1000 level on the SPX represents a 50% climb from the index's March lows. There apparently seems to be a lot of resistance to that level from the bearish crowd. If the jobless claims come in better than anticipation we could catapult right up and past the 1000 level tomorrow. That will cause an assundry of bearish folks to capitulate into the uptrend and enjoy going long. If we get a nice rally I'll be out buying all my stinky arm pit stocks - I just gotta have'em. Snort.

 

[Birchtree]

Re: Birchtree's account talk

Gosh it's so much fun chasing the bull. On the open the oceanic popped up over $45K so I'm going to do more buying and enjoy myself since I've now made 212 individual stock purchasers from 6/26 not missing a beat. So far today we bought: FDP, HAL, OLN, TEN, TSTY, VHI, DOW, WR, ACC, ADC, AEC, BEZ. I'll do my part tp push the SPX to 1000. Snort

 

[Mcqlives]

Re: Birchtree's account talk

Birch,

Last time we broke 1000 was on November 4th, 08. This was a one day up tick before continuing down. What se have seen the past few weeks is a steady, overall, uptrend with 1000 being the next resistance to break...hopefully today we will do that and close with around a 28 or 29 point gain on the S&P.

When you get a chance take a look at the 1 year chart on the S&P. Wouldn't it be great if we have a mirror image of that chart in our future? That would give us a short term run back down to 940 in the next couple of weeks followed by 1300 in three months! The bulls are being quiet but I can hear your snorts from here!

-mcq

 

[Medic72]

Re: Birchtree's account talk

Snort

 

[Birchtree]

Re: Birchtree's account talk

I've mentioned the principle of symmetry on several occasions - glad I'm not alone. The big money will arrive later today and that will swing us much higher. Went back into the market again and bought: FOE, GT, GWR, SSD, CBC, BRT.

 

[Mcqlives]

Re: Birchtree's account talk

I've mentioned the principle of symmetry on several occasions - glad I'm not alone. The big money will arrive later today and that will swing us much higher. Went back into the market again and bought: FOE, GT, GWR, SSD, CBC, BRT.

How do you keep track of all your acquisitions? Do you use a spreadsheet and update yourself or do you have a type of rolling accounting software? I get lost just checking on a few of your transactions and their trends.

 

[Birchtree]

Re: Birchtree's account talk

I use a pencil. My broker does most of the work in regards to updating my account. Watch what happens in the market tomorrow. I'm sure the get me in at any price anxiety is building and many will capitulate to the up trend and that includes Tom. The day of recognition has arrived.

 

[Mcqlives]

Re: Birchtree's account talk

I use a pencil. My broker does most of the work in regards to updating my account. Watch what happens in the market tomorrow. I'm sure the get me in at any price anxiety is building and many will capitulate to the up trend and that includes Tom. The day of recognition has arrived.

WOW...I'm honored...an answer to my question and an in-good-fun jab at Tom in the same response. You are on a roll today!!!

My only hold back on what you say is that we could have the see-saw thing go on with 1000 like we did with 950. In the longer term, though, this type of action could bring the paper off the sidelines in larger, but slower, amounts. This afternoon and tomorrow will tell for sure!

 

[Birchtree]

Re: Birchtree's account talk

The Chinese have just announced they have chosen Morgan Stanley and Black Rock to help manage their money into hedge funds - and where are the 8,000 left over hedge funds going to put their money? You guessed correctly. Let the stampede begin - we should be up over 200 points on the close. If I can get a 200 point banger I have a few more stocks I'd like to dca into the market this afternoon.

 

[WorkFE]

Re: Birchtree's account talk

And who is set to be the manager of the I fund by years end.:worried:
I guess thats one way to pay the Chinese back.

 

[Birchtree]

Re: Birchtree's account talk

Now what I don't want yet because I am greedy is a $12 price on the C fund. I've only collected two $11.00 tags so far this year and that hardly seems fair to an accumulator.

 

[Bullitt]

Re: Birchtree's account talk

I remember reading somewhere that China is more interested in Index Funds than Hedge Funds. The 2008 Crash did the term 'Hedge Fund' what the 2000 Crash did the term 'Day Trader'.

 

[Birchtree]

Re: Birchtree's account talk

It would appear the Tokyo drift is in progress - watching Sugar move up the ranks.

"If the correlation to the 2000-2003 contraction were to continue, the S&P may need to retest the 800 level by August to October this fall."

http://financialsense.com Market Deja Vu by Danielle Park 7/30/09

 

[Birchtree]

Re: Birchtree's account talk

Kudlow has me all fired up for tomorrow and my wicked buying list just seems to keep getting longer and longer. Using leverage, the higher we go the more buying power I can spill. Ah, that sweet smell of superlative bull manure is again tickling my nostrils.

 

[Birchtree]

Re: Birchtree's account talk

We are now experiencing the seventh recession in the last four decades. Investors my age (60s) have seen this happen six times in their investing life. In every case that I remember, there seemed to be no end to the gloom and doom. But in every case the mood changed over time for the better. The GDP came in light - so I expect more statistical surges as we get pass the SPX of 1000. Let's see if the VIX will break today.

 

[Birchtree]

Re: Birchtree's account talk

Buying a little early today but I think we'll gain strength: BZH, SNS, WEN, RRI, PCX, ACI. Oops we just went negative.

 

[Mcqlives]

Re: Birchtree's account talk

Birch,

It was not as good of a day as we hoped yesterday but with the GDP revisement it was much better than it could have been!

On TSP I am currently 100% I due to the falling dollar but would appreciate your thoughts on my meanderings.

Treasury sale yesterday was a minor flop...really slow sales for our notes. If this continues then interest rates will go up quickly. When this happens it will most likely be a global rise in interest rates. In that climate the dollar should gain in strength compared to other currencies.

All that being said, and I could be way wrong, any thoughts on going to the S fund for the next couple of months?

Thanks in advance!

-mcq