Birchtree's Account Talk

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I like to buy when the market is up so I can protect my back as a margin investor. That way I know I've got some gain to provide me with comfort incase my fingers get jammed. I might lock a $155K gain or better today. That's very comfortable. Snort.
 
Birchtree said:
I like to buy when the market is up so I can protect my back as a margin investor. That way I know I've got some gain to provide me with comfort incase my fingers get jammed. I might lock a $155K gain or better today. That's very comfortable. Snort.
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Hmmm, I think I understand that. Not having margin available, I haven't really looked into it.

Thanks !!
 
Birchtree, I have a few questions for you if you don't mind. Some of them you may not be able to answer, but I'll throw them at you anyways.

As far as stock purchases go, where do you seek out what stocks are good buys etc. I try to spend some time reading the Lightning Round from Mad Money to see what Jim Cramer has to say about a few select stocks, but that only goes so far. Do you read what other people say about stocks or are you out there researching a bunch of companies and make your decision based off of your own research?

Also, what do you use to determine the stop loss order that I'm guessing you may use to prevent a huge loss? Do you use a calculator to determine like 10% less than what you paid for it or what kind of formula do you use?

On the other hand with the previous question, what do you use to determine the high end price of a stock to place another order to sell when it reaches a high?

Any help is appreciated and I understand if you can't give 100% complete answers because you may use some type of purchased system to assist you with things. I just see you buying a ton of stocks and got my feet wet with a couple companies (AA, OCLR) a couple weeks ago. I'm looking to start buying more, but my knowledge is limited currently.

Thanks a ton in advance!
 
Glad to answer your questions. I don't use any service aside from The Wall Street Journal - lots of reading over many years. I never use stops and I never have in mind a sell price when I buy a stock. I will sell a winner on occasion to raise cash to buy something else - I like to buy stocks that stink today. Because I don't plan to make any money for several years. I do have an adviser named Mindylou, she's a tonkinese feline. She works on making up my buy lists. I'm now using margin buying stock with someone else's money and paying 2.75% interest rate which is tax deductable. I own somewhere around 320 individual stocks - so there is always something going on. My investing style is rather simple, nothing complicated. I always remain aware of the technicals and fundamentals and usually go in the opposite direction. It's not intentional but over years of pain with my gains I've become a renegade contrarian. I hope that helps. Snort. I should mention that I'm an avid tape reader.
 
Birchtree said:
Glad to answer your questions. I don't use any service aside from The Wall Street Journal - lots of reading over many years. I never use stops and I never have in mind a sell price when I buy a stock. I will sell a winner on occasion to raise cash to buy something else - I like to buy stocks that stink today. Because I don't plan to make any money for several years. I do have an adviser named Mindylou, she's a tonkinese feline. She works on making up my buy lists. I'm now using margin buying stock with someone else's money and paying 2.75% interest rate which is tax deductable. I own somewhere around 320 individual stocks - so there is always something going on. My investing style is rather simple, nothing complicated. I always remain aware of the technicals and fundamentals and usually go in the opposite direction. It's not intentional but over years of pain with my gains I've become a renegade contrarian. I hope that helps. Snort. I should mention that I'm an avid tape reader.
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Thank you for answering my questions. Although it isn't what I expected, but it seems to work for you since you post some large figures at times. I take it you don't get into the whole stock chart reading/predicting?
 
Large figures you say - I only made $152K today. Now if I could do the same tomorrow. I've around 90 dividends due in September to be reinvested - always trying to buy stocks. I made 326 buys during the lows of August - that'll be sweet someday.
 
So you and mindylou just follow the mutton button bingo strategery then? You know, when the 4-H kids draw a grid with numbers in a penned off area and then turn a sheep loose and see where it falls?

And if you got all the numbers covered then you're bound to win? Like that?

Do you really spread the WSJ out on the floor and let her umm, drop one on it, or have you found a cleaner solution?

I love ewe man.
 
I have 63 more wall flower purchases on my latest Mindylou contrived list - I'm so fortunate that she can hold a pencil. Gotta keep the money working all the time especially during these turbulent times when prices are golden.
 
Birchtree said:
I have 63 more wall flower purchases on my latest Mindylou contrived list - I'm so fortunate that she can hold a pencil. Gotta keep the money working all the time especially during these turbulent times when prices are golden.
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Do you have a picture of Mindylou? She is some cat! (please excuse the vague Charlotte's Web reference).
 
Mindylou is a Tonkinese and will be five September 25th. She has Betty Grable legs and is dark brown with mary jane black shoes and ears as well as tail. She has hazel colored eyes and has learned to box. Every night when we go to bed she does a house security check. A black feral from next door is in love with her - he comes by most evenings to say hi. She has been leash trained to go on walks and intensely hates fleas. I don't know how she learned to hold a pencil - perhaps from watching a cat use a spoon to eat with on you tube. She likes to sleep during the day behind my computer which is convenient when I have a question.
 
Today my bet is that the market will forget about the nonsense from Obummer and Europe and will derive pride in what we have accomplished in this country with a strong +100 point Dow rally. Another nice tail to be in place.
 
The previous Dow low in August was 10,604 - we could burn that bridge come Monday, but I don't think that'll happen. So let the bears get everything out of their system today. Now that we are being held hostage by the socialists in Europe we'll have to just be patient and wait. Either default or get off the toilet.
 
Yeah, I think the bears are itching to take it down. Let er go down, I have years to go before I can touch my TSP/IRA. Might as well get more shares while they are cheap and stash them away for when the market rises again. I'm fortunate in that I can max out my TSP and IRA contributions....
 
It looks to me as though we held our current channel lower trend lines for today - Monday could be pivotal. If there is any positive spark from Europe this compressed market will explode upward - I'll be watching all weekend. In my opinion the greater risk is still being out of the market rather than being in.
 
It was a short week but no joy for the oceanic - it's starting to become a pattern: -$37K, +$152K. -$70K, -$98K for a devaluation of -$53K. Any upside I can get next week will have me buying my wall flowers again. This is the right time to be aggressive with the VIX hitting the 40 level again.
 
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