Birchtree's Account Talk

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Good move.... I'm glad I picked up some BAC and JPM over the last couple of weeks at their 52 week lows. They were just getting killed by the shorts and now Buffet and the slowly improving economy are going to make them rise. Businesses and the world wide ecomomies can't run without big banks lending money.
 
I'm still throwing money at this bull as I chase: BMS, HOS, BCS, GPX, GLT, DLX, INT, MTW, JNY, OLN. If the Dow can hold +200 points I'll be back to buy a few more lonely wall flowers. Right now just about everything I own is helping me.
 
Speaking of fully invested, I am 34 have 45 thous sitting on the sidelines. I want to jump back into the market. Would you jump in fully now or pick your spots hopefully along the dips.
 
I'm dollar cost averaging my way into this bull rally just in case it decides to back up. With the Dow +216 I'm ready to buy a few more sweet girls. If you read a few of my links from the past three weeks you should get a good feel from a contrarian perspective - so I'd start buying now but only in small blocks until September passes.
 
Still spreading the money around: KNL, OMN, VCI, WFC, RPM, ODC, ELX, IVZ. Small caps are really rocking the oceanic today - if the market goes higher into the close I'll make one more venture into the bull arena and hope for the best tomorrow. I do have a wheelbarrow full of dividends that are due 9/1.
 
Not to sound redundant but this rally is pushing me to make more buys - I'm at the mercy of Ferdinand: CMO, BWC, LG, SLI, FPO, SPLS, AIG, CPX, HEI, SPN. Now I will rest unless we make a mad, bear crushing rush higher into the close. It's a day of comeuppance. Snort.
 
A few more pretty wall flowers into the close because I'm having so much fun throwing money away: MRK, MLI, RJF, AKS. Now I'll hold tight and see if these girls work for me tomorrow.
 
My plan for next week is to start buying back some of those 5 positions I liquidated while running from a potential margin call - they were part of my lamb chop account designed for the specific purpose to meet a margin call. So they worked as planned - now I begin to reestablish those positions - trying not to run into the wash rule. We'll see how fast my come back is heading back to the $2M mark. If we have a good day tomorrow I'll make excellent progress for heavty gains this week. I may even move up the tracker some.
 
My next 500 share purchase for BAC will be around the $9.50 price - could that happen this week. The VIX folded nicely today closing at 32.40 off -3.19. No worries until we approach that 14 level again.
 
My exit price on BAC will probably be never - why sell a large cap bank. It will rise to $40 dollars in a couple of years and will then split and increase dividends - I'll never have a reason to sell it unless it gets to $100.
 
Well, you're in business now. Kudlow found someone to predict $2.50/gallon gas and more positive predictions. A rocketing economy is on the way because even Byron agreed the market had priced in a recession that won't occur. However, no one on the panel addressed the law of unintended consequences. If the rocket is indeed launched, The One will be reelected and then has no need to appear centrist. :)
 
The market likely will rally strongly to new all time highs knowing he is going to be a wash out - he can go build houses with slacker Jimmy.
 
And that is the Big Bet now in play. Which way will the electorate take this Nation. It's common to say Americans vote their pocket books--but whose. How energized can the dims make the dependents, dogooders, and dunnos to carry their day. The media is still adulating dear Leader and disparaging anyone else. Collectively they do have the ability to focus on anything awkward and then repeat it. Goebbels would be proud of how far we've come.

Mucho talk on CNBC Squawk Box visitors about the uptrend in the market now. One gent said don't buy gold until it drops to 1550/oz. That's USD.
 
Birchtree said:
My exit price on BAC will probably be never - why sell a large cap bank. It will rise to $40 dollars in a couple of years and will then split and increase dividends - I'll never have a reason to sell it unless it gets to $100.
Click to expand...

I have been loading up on BAC also. It is still very cheap at the $8 range. Forward P/E is only 5.98 last time I looked. Based on P/E alone, the stock should at least double in price.
 
Went after a few more sweet wall flowers before we rally: PNC, ANF, TEN, BTU, TKR, CSX, CR, KOP. I've now made 300 DCA purchases into my base since 8/5. I hope I can be fortunate enough to do the same amount in September. If I could make the same gains I did yesterday today I'd be in like Flint. I may do more buying later.
 
Birchtree said:
Went after a few more sweet wall flowers before we rally: PNC, ANF, TEN, BTU, TKR, CSX, CR, KOP. I've now made 300 DCA purchases into my base since 8/5. I hope I can be fortunate enough to do the same amount in September. If I could make the same gains I did yesterday today I'd be in like Flint. I may do more buying later.
Click to expand...

Did you see the big lawsuit filed against BAC? Still gonna keep your position? I am rethinking mine.
 
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