Birchtree's Account Talk

[fedgolfer]

An unchanged day would be considered a win for the bulls.

The mathlete traders will show up at the end of the day. multi day inverted h&s playing out on the $tran. Sine cosine, cosine sine 3.14159! Go Mathletes!

 

[visual]

Any gains in the day has to over come all futures also.

 

[FAB1]

the morning futures arent always to be trusted. Dips before noon dont stop an afternoon rally. In effect the last 30 min before the market closes will determine if we win or lose the day.

Oh my look how the day ended..HAte to say, I told ya so. :cheesy:

 

[Birchtree]

"The S&P 500 index is testing its 12-month average for the first time since crossing it in the middle of last year. This was a common occurrence in the 2003-2007 rally, not a terminal event. It's usually just a pause that refreshes, even though it always seems like a crushing blow when it occurs. Note thatr in 2004, 2005, and 2006 the index actually fell well below the 12 month average mid-month before buyers pushed it back up."

http://www.marketoracle.co.uk/Article19740.html

 

[visual]

9 PM and the futures is -100 already.

 

[Birchtree]

It's another day to play 'Rider on the Storm'. I'd hate to guess if this is the bottom.

 

[Bullitt]

Don't answer the phone today, it could be your broker calling.

 

[Birchtree]

The call more than likely may come Thursday and then I have seven days to cover. But I knew it could happen so there goes the sacrificial lamb chop account. But I'm not giving up yet because this is all fear and the smart buyers will return - sooner hopefully than later.

 

[Warrenlm]

Then you don't think today is the falling knife?

 

[Birchtree]

Man if I had excess money I'd be a buyer right now - but inorder to get cash I'd have to sell and I'm not ready to do that. If I start getting margin calls then I'll be selling and building a cash position to buy into the future. If we can rally up off this third intraday bottom - the last low was 9918 and we're lower than that now. I can always sell later and do some DCA buying. Just holding on to my butt cheeks for the moment. Consumer sentiment looks good.

 

[Birchtree]

I wish my stomach was in a knot - but I'm calm and it must be related to my age. I've played in front of the train so many times it has become second nature. We are coiled and ready to spring back to the upside and catch many shorts off guard. I'm not worried about the earnings of the I fund companies and I'm not worried about the earnings of the S&P 500 companies. Holding my positions in all accounts - even the wife is on hold and she gets to buy in cheaper. So bring on the 'Goldilocks' economy and stretch out this bull run.

 

[Medic72]

SNORT

 

[Birchtree]

"Unlike the decline in the fall of 2008, the current correction is taking place within an ongoing cyclical bull market. The waterful decline in Sept/Oct of 2008 started with market breadth decisively negative. The breadth prior to the recent decline was favorable."

http://www.marketwatch.com/story/differences-between-today-and-october-2008-2010-05-25

 

[Birchtree]

"Stock market near-term selling pressure near exhaustion?"

http://www.marketoracle.co.uk/Article19787.html

 

[Birchtree]

OK, son of seabiscuit. I like this action. Mindylou is so excited. Can we close unchanged in the next 30 minutes after being down close to 300 points on the Dow. I'm waiting for it.

 

[fedgolfer]

Snarky pessimism on this board usually conicides with a roo tails on the indices. Seriously, it's like 99% accurate. Keep it on the DL.

 

[Steadygain]

If I weigh in with the Top Execs - Managers - Analyists of Finance and how they view what has been taking place in the MARKETS.

This has essentially been 'Panic BS' and things are far better than the Markets have reflected.

They aren't worried -- and neither am I.

In conjunction with 'Them' -- I'd say 'Volitiity' will not disappear anytime soon .....


But.....
..................we are in :toung:


.............................a BULL MARKET !!!

 

[Boghie]

The only thing to worry about is that 1220 may well be the top of a trading range.

Carter II should have the same action as Carter I

 

[Birchtree]

I did take a nice bite on my MEE this morning at $32.55. I'm in as high as $53.25 and as low of $40.47. So it's a value purchase. I'm thinking about BP before the day ends. I may sell my CXG to raise cash to do more selective buying of my wall flowers - it's a sacrifice having to take a short term profit on the sale. But sometimes the risk provides potential.

 

[Birchtree]

Mindylou says buy early and often. I sold my NAV (Navistar) instead of CXG because I had a smaller profit to declare. Bought: BP, AEO, AA, to start with some of the cash. So many good wall flowers to buy and so little cash available. But I will sacrifice on the way up and step in front of the train and buy myself into happiness. I need to make 128 more purchases before the end of June to complete my goal of 1000 buys from June 26th '09. And yes I think it is the right thing to do - assume some risk to make serious money. My oceanic is up $80K so far today but I have a long way to go to get back to my previous high level on April 26th - but patience will be rewarded. I'm very fortunate that my sacrificial lamb chop account is still intact with no margin calls yet. Snort.