Birchtree's Account Talk

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I find it amazing that you are working with those kinds of numbers.

Birchtree said:
Well Jimmy Cricketts, it could have been worse. Up 130 points in two days with an oceanic gain of $99K and then a 130 point down day tags me -$87K - that leaves me $12K positive for the week at least so far. This type of market volatility is to be expected - get everyone on the wrong side and then leave them standing on the platform - this bull is not finished by a long shot. I think we get jobless claims tomorrow - they'll surprise and be better than last week.
Click to expand...
 
I'm trying to grow larger everyday and I think this bull market will be very kind to me. My oceanic account is on margin which provides me the opportunity for leverage without having to take profits. I have no idea how far up the wealth ladder this bull will take me, but I'm staying long and strong. It won't be long and I'll have access to 30 free trades a month or 360 a year - that's right up my alley since I have a tendency to dollar cost average my positions. Since 7/31/10 I've already made 595 wall flower purchases and when they all work in unison it's money working at its' best.
 
Ooh. Badfinger, loved their music.

Did you say there must be a catch, when you walk away from a fool and his money

SONG in the Magic Christian where those guys fishing money from a pool of sewage - Phew what people will do for the green stuff!! :sick:
 
The article was a fine read but the comment section was even better. So many still with such negativity it remains heart warming for me as a contrarian.

Jack Steiman says 1315 is the line in the sand for the bulls to defend, if that goes, it's lights out for some time, and believe it or not, that would be best for this market in the long run. I prefer no rest periods to force investors to pay up to get on board. The S&P is very cheap at under 13 times forward earnings and the quality of earnings looks solid.
 
My sad story for today is that my position in CE is trying to get away from me. My last purchase price was $49.20 and now it's over $51 and going higher - that's sad because I don't have any money right now to buy more. I refuse to do any select selling at this time because they all will appreciate in value - so it's patience.
 
Alright bring me those lower prices. I am looking forward to reinvesting about 75 dividends that are due in June. So if we trend sideways to down during the next three weeks I'm accepting of that scenario. Here is an example of how I'm future oriented as an investor. I'm trying to not accumulate big profit taking this year but rather waiting until 2012. I'm planning ahead for some tax diversification. I expect my wife will retire early 2012 so I won't have her income to contend with boosting my AGI. I plan not to use all my margin interest deduction for 2011 and will use the remainder as a carry forward into 2012 and this amount will help offset my profit taking which will be at a higher level. I plan to start using some of those profits to accumulate some cash and begin the process of paying down my margin level into 2013 and beyond. My dividend income is taxed at 15% and my capital gains will also be taxed at 15% in 2012 - after that who knows with politics the way they are going. I'm in a situation where I don't want earned income - unless it's taxed at a lower level. I think this plan will work to help me keep more of my market gains and still provide for the future. Love this bull.
 
Hey BT,

What do you think about the big bank stocks today...JPM, BAC, and WFC? Do you think it might be a good time to snatch up a few shares for a nice pay back down the road or is it just investing in a dead sector for the foreseeable future?
 
I like to shop where angels fear to tread. I've been dollar cost averaging into the banking sector since the summer of 2008. Buy'em while your dollar goes further to accumulate shares. Sometimes it seems like throwing money away but eventually the money returns in a larger amount. I've never bought a stock with the idea of making quick money - I buy and let the market come to me. The economy will be in a different place 12 months from now and you have to be able to see that horizon. The business cycle is only at the halfway point which suggest another 18 months of expansion. This implies that the longer term outlook for equity markets remains positive. I'm bullish on America and the banks.
 
My oceanic did take some heat this week leaving me wounded but I'll survive - been in this spot many times. Here's what transpired: +$56K, +$43K, -$87K, +$8K, -$56K for a total devaluation of -$36K. The market will do what the market is going to do - I remain bullish and will just wait until I tag the $2M off the March '09 low. With volatility I can't expect to make money every week but in the long run money will flow into my accounts.
 
Birchtree said:
"The SPX is consolidating after reaching its phase projection of 1370. While there is a minimal chance that this could turn out to be an important top, the odds favor one more push to a new high before an intermediate correction sets in, with the eventual top of the bull market at a much higher level."

http://www.safehaven.com/article/20995/market-turning-points-weekend-report
Click to expand...

You are like the Vix.

BT doesn't post too much = market doing good.

BT post more = market isn't doin so good so it's time to pull out the Positive Press Machine.

BT is in the garden = It's a bad bad day :D
 
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