coolhand's Account Talk

[Uptrend]

I decided to Hit and Run

 

[coolhand]

I decided to Hit and Run

Me too. Out. 100% G.

 

[coolhand]

mdszj...check your PMs.

 

[350zCommTech]

You guys nailed it. Good calls.

 

[coolhand]

You guys nailed it. Good calls.

That's why it helps to work together.

On another note...

http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622

 

[WorkFE]

There's a great idea, relax lending standards.
Why does that sound familiar.:suspicious:

 

[350zCommTech]

On another note...

http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622

We need to bring back NINJA loans to save the economy. "Housing Bubble II"

 

[mdszj]

CH and all

Good safe move getting out and back in G.

I got stopped out of my SSO for + 2.6% a few minutes ago. I am now looking at getting some SDS, looks pretty good on 60-min chart. I think I will wait until after 2 pm then put a buy order in for 55.98 (daily 10 sma).

 

[coolhand]

A decent enough gain today, but I was expecting more. Could see some follow-though tomorrow, but it was looking weak after the Fed announcement. This market may be weaker than it appears.

 

[350zCommTech]

A decent enough gain today, but I was expecting more. Could see some follow-though tomorrow, but it was looking weak after the Fed announcement. This market may be weaker than it appears.

Currencies kept the market from turning red this afternoon. You got lucky IMO.

 

[coolhand]

Currencies kept the market from turning red this afternoon. You got lucky IMO.

You always have to have a small measure of luck. Otherwise there'd be no risk.

 

[coolhand]

More on buy and hold. This cuts to the heart of the problem.

http://tinyurl.com/klx56z

 

[WorkFE]

CH, although there is a flaw in the long term buy and hold mentality it is still the best option for the majority of retirement investors. If everyone was well versed in market research, has discipline and desire, time, wherewithall and lets not forget basic mental aptitude for this type of work then yes buy and hold is not solid. (No slight on BT)
Choices:
1. Trust an investment firm to make decisions for you (Madoff)
2. Market timing (requires all of the above)
3. Matress (No Return)
4. Don't save crap

Of course you are only speaking to those on the MB in which case a majority make informed investment decisions. If they are unsure they follow the leader. Sometimes that is the best choice.

 

[WorkFE]

Sorry I never addressed CD laddering. I do this with CD and several types of bonds.
When I stop for my morning coffee my waitress is mid forties, nice lady. I cannot imagine this individual grasping the concept and if she did would not be interested in the time investment it takes to do it yourself. (Inerest waning) that puts us back to someone else doing it for them (Madoff).

 

[airlift]

What do guys think of a rally continuing until tomorrow (Friday) or even Tuesday (June 30) as end of quarter (and end of month) window dressing? Your views will be apreciated. Bernanke will be testifying on Capitol Hill today. But I read on Bloomberg that SPX shorting is rising. Possible short covering rally?

 

[coolhand]

What do guys think of a rally continuing until tomorrow (Friday) or even Tuesday (June 30) as end of quarter (and end of month) window dressing? Your views will be apreciated. Bernanke will be testifying on Capitol Hill today. But I read on Bloomberg that SPX shorting is rising. Possible short covering rally?

End of quarter window dressing is still in play, but this market is technically weak and rallies are being sold. I'm not comfortable holding equities right now. Expect to short the rally today.

 

[Bullitt]

I'm not making a case for buy and hold or for trading, but don't forget that certain folks who run 'Managed Accounts' need to advertise their services also. Both sides of the coin have agendas. Some day buy and hold will be back in vogue. I have noticed an aggressive campaign by both the managed accounts and mutual fund industry to obtain clients recently.

Some recent thoughts about the subject. From www.wsj.com 6/22/09.

Active Managers Get the Cold Shoulder

A growing number of big investors are concluding that stock and bond pickers failed to add any value during the market turmoil and are shifting to index funds, a move that threatens to cut profits for asset managers.
"Active managers have not given us the added performance in a down market that we hoped for," says Bill Atwood, executive director of the $9 billion Illinois State Board of Investment. Disappointing returns by some large- and small-stock managers led his fund to move about $400 million to index funds.

The move toward more-passive investments is part of a broader reconsideration by many investors about what went wrong in 2008 and how they can reposition their portfolios to avoid a rerun of that dismal performance. Active managers promise to beat, rather than match, the market's overall returns and charge fees that can be at least 10 times higher than those of index funds.

 

[Diesel]

Great Post Bullet and thanks for the read. I'm not going crazy afterall.

 

[WorkFE]

Agree Bullitt, I am in no way advocating it however there are those that would be better off riding the train.
I am only drawing on my own experience. 4 Years ago I began tracking the hours that I spend conducting research and analysis of market news. I do not have my log with me but if my memory serves me correctly it is close to 4K hours. It is well worth the time spent but still alot of time.

 

[coolhand]

I'm not making a case for buy and hold or for trading, but don't forget that certain folks who run 'Managed Accounts' need to advertise their services also. Both sides of the coin have agendas. Some day buy and hold will be back in vogue. I have noticed an aggressive campaign by both the managed accounts and mutual fund industry to obtain clients recently.

Some recent thoughts about the subject. From www.wsj.com 6/22/09.

The industry is going to do what any business will do, they'll play to the market's wants.

I think it's important to understand that the real point here is no system is guaranteed to perform up to the customer's expectations. Time frames matter a whole lot here too. I think personal education is the key to achieving superior results regardless of the metric one follows, but most folks aren't interested in taking that kind of time. They simply want it to happen by putting their money in a black hole. That's easy. But there's no small degree of risk in that metric either, but we've been told it's a proven method. Again, time frames matter greatly and can support any argument.

I'm still a market timer and will always be a market timer. It's my money, and it's therefore incumbent on me to manage it. I simply don't trust anyone else to do it for me. Nuff said.