Birchtree's Account Talk

[Birchtree]

http://dshort.com/charts/guest/REIT-ETF-10-04-06.gif

 

[Steadygain]

Birch,
With the story (and work) -- haven't had time for anything else; so I just looked over the IFTs for the first time in quite awhile.


I'm actually kind of shocked -- as typically after a 'run up' most are bailing to safety. In general 'most' seem to think like me :toung: which is pretty scarey :laugh:

Anyway, I'm probably more BULLISH than you at this point.



Well have a good night all !!

 

[FAB1]

I know "pigs get slaughtered" but even some minor speed bumps along the way won't deter me from being a pig.

What about being Pigs on the wing?

Well just keep soaring up.

Oink.

 

[JamesE]

Hehe, I am still trying to get back to my July 2007 high... So you can bet I'll be in probably in a little too long being greedy!

 

[Birchtree]

Made a few buys on weakness: MEE, JCI, PCX.

 

[meltorment]

Made a few buys on weakness: MEE, JCI, PCX.

What's the reasoning behind going in on both MEE and PCX? Why did you choose PCX over something like WLT?

 

[Birchtree]

I'm dollar cost averaging into my existing position of MEE while it is being hammered because of the coal mine accident - I'm in as low as 40 up to 53 - so the 46 range is good pricing. My PCX position has me in at 15 up to 20 - so a price of $22.39 gives me a higher price and a nice profit. I also own PXD, ACI, PXP, and BTU - so I'm already deep in coal. And JCI is also at a higher price for me - I'm in at 28 up to 31 so a price of $32.21 is a good purchase - all these stocks will be even higher by the end of the month.

 

[Birchtree]

"O'Shaughnessy finding opportunities in high dividend-payers."
"Siegel sees more room to run for rally."
"Hedgefund star: Expansion and bull market still in early phases."
"Nygren says stocks still cheap."

http://theguruinvestor.com/

 

[Birchtree]

Ah, down fast and sharp - just what the bullish dip buyers have been waiting on - the next two days could be a blessing in opportunity. Roll back some of this extreme positive sentiment - no fear here. I like it.

 

[turbo23dog]

^^ I logged on to see if there was any chatter about why the steep drop. Looks like some kind of news impact unless its just computer programmed selling.

 

[tsptalk]

^^ I logged on to see if there was any chatter about why the steep drop. Looks like some kind of news impact unless its just computer programmed selling.

http://www.tsptalk.com/mb/showthread.php?p=265276#post265276

 

[turbo23dog]

^^Thanks.

 

[amoeba]

Ah, down fast and sharp - just what the bullish dip buyers have been waiting on - the next two days could be a blessing in opportunity. Roll back some of this extreme positive sentiment - no fear here. I like it.

Well - I'm going to have to hope birchtree is right, and that coolhand is correct about the basis (Hoenig comments - he's a dissenting Fed voter who always talks like that, so why does anyone care this time?).

Unfortunately - we won't know for sure for 2-3 days....so does anyone feel lucky? Not many so far (only 2 IFT's for tomorrow, both into equities). I am inclined to wait for the open tomorrow to see if equity funds hold steady, bounces, or drops further.

 

[Birchtree]

I think there must have been some serious rotation going on today in the market - I mean I only took a $7K hit which is minor damage. So I'm still on course to perhaps drill a $100K week. I have so many wall flowers that are clamoring for my attention that if we rally tomorrow I will spend some serious money.

 

[Birchtree]

I told my endearing butt buddy Griffin a while back that when my long market value exceeded the $2M mark that I would let him know. Well good buddy the time has arrived. I'm sitting on $2,655,192. I fully anticipate that the $3M mark is only months away. Now I'll wait for caymanbrack 12 to show and remind me that I'm still small potatoes in his circle - but I'll keep at it. My hope was to turn my second $M before week #93 rolled around off the March '09 bottom - it may happen sooner. Like Cramer was saying you gotta learn to love the bull - it's doing wonders for my sanity and I'm under no illusion that all the pain has disappeared - pain and I have a close relationship and I welcome the terrible down days as opportunities to buy - always buying.

 

[Birchtree]

"Coal: The Contrarian's Investment."

http://safehaven.com/article-16340.htm

 

[Birchtree]

"Are bonds hinting the rally in stocks will continue. Any movement of cash from the bond market to the stock market will have a significant affect on stock prices."

http://[[financialsense.com/fsu/editorials/wagner/2010/0407.html

 

[Birchtree]

http://pragcap.com/evening-reading-101

http://pragcap.com/beware-of-echo-bubbles

 

[coolhand]

Well - I'm going to have to hope birchtree is right, and that coolhand is correct about the basis (Hoenig comments - he's a dissenting Fed voter who always talks like that, so why does anyone care this time?).

Yes, Hoenig's position is well known. But he's still a senior Fed official. Under Greenspan Fed chiefs weren't allowed to talk openly about their personal economic feelings, but Bernanke has not held them back.

The market was looking for a reason to take profits and it had a couple reasons yesterday. But it doesn't necessarily mean we've seen the high. Just profit taking. I'm of the opinion we'll move forward again after a bit of consolidation. I just hope I don't get a sell signal because it may not be a valid signal unless there's some volume behind it. The last sell signal was about worthless. But the gains have been limited too.

 

[Birchtree]

Doing a little wall flower shopping today since retailers are making money: TRW, TEX, POL, GBX. If the rally strengthens I'll be back for more later - buy'em before they run away.