Birchtree's Account Talk

[Birchtree]

"One more reason stocks could go higher from here."

http://www.marketoracle.co.uk/Article43169.html

 

[hotwings]

I own several companies that I consider steel oriented: AKS, AP, TKR, TRN to name a few. I think I may do some buying today to keep life interesting.

Thanks.. BTW, how about those bank stocks... Nice little rally we have had lately.

 

[Birchtree]

I'm prepared to throw a few more dollars at some banks today. Small caps are being plundered right now but that's OK because my dividends are working overtime. Snort.

 

[GrandeBabbo]

BT, what do you think about $WFC? I've been looking at this all year. What is a good entry point IYO? I'm thinking low $53. Thought?
Thanks
GB

 

[GrandeBabbo]

Fat fingers. Meant low $43.

 

[jkenjohnson]

I'm prepared to throw a few more dollars at some banks today. Small caps are being plundered right now but that's OK because my dividends are working overtime. Snort.

Which banks?

 

[Birchtree]

I purchased my initial position in Wells Fargo on 7/23/09 at $24.44 and have been DCAing it ever sense - I don't ever plan to sell it - it's a good income producer.

 

[Birchtree]

Bubble Talk Rarely, If Ever, Coincides With Major Top In Stocks | Chris Ciovacco | Safehaven.com

 

[GrandeBabbo]

Thanks BT
You the man!
GB

 

[Birchtree]

Here are the financials I purchased today: BK, BLX, BXS, ORI, ONB, MS, WFC, BBT, these are positions I'm dollar cost averaging into. On a side note, I now have acquired 139 dividend increase announcements ytd compared with 136 for 2012. I would look for at least another 10 before year end. Now if I could look forward to that for the next ten years my income stream will keep me in clover.

 

[Birchtree]

This market today feels like it is coiled for a nice breakout once the fed papers are released and may surprise many. Until then I patiently wait.

 

[Birchtree]

Well the Fed can just kiss my grits - they just can't make up their mind as to what to do and when. Oh well, dividends are still working.

 

[WorkFE]

Whats your thoughts on buying VJET on the way down?

 

[Birchtree]

I don't know anything about VJET to offer an opinion - but being down over 4 points does make it interesting, though. You could probably make more money on WEN over time.

 

[WorkFE]

Thanks, Already own burger joints, looking to stretch my legs a bit.

 

[Birchtree]

"In summary, looking at the current market climate relative to the 2007 top shows a market that is nowhere close to putting in a major market top."

Is A Bear Market Right Around The Corner? What The 2007 Top Can Tell Us About The Present - Seeking Alpha

 

[Birchtree]

Bank of America Corp (BAC): Bank of America's Continued Upward Momentum - Seeking Alpha

I don't plan to sell this baby even when I top a +$100K profit.

 

[Birchtree]

Merrill

 

[Birchtree]

"The years following 20% plus moves on the S&P have been up every time."

 

[Birchtree]

Was today the first of a quadruple triple digit move by the Dow - I've been patiently waiting for this type of historic move to freak the bench warmers. Next week should be very positive even if only four trading days. The VIX may drop out of the 12 zone tomorrow and be in the 10 zone by the end of the month. This does not necessarily mean complacency but one must remain cautious. At any rate, I'm a contented bull and look forward to 2014 to make even more serious money. Snort.