coolhand's Account Talk

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Fortunately there are no tax consequences for trading in a fiduciary deferred compensation plan like TSP. When you step out into the other arenas every time there is a sale the IRS wants to know about it. Starting in 2010 every transaction will be reported to them which means there is no where to hide. Big brother is going to be watching. Long term capital gains are still very cost effective but require a holding period of one year. And if you have a desire to leave stock as a legacy or gifts the use of the step up in basis is very important - stock is how big money is passed on to the next generation.
 
Coolhand,
Thanks for customary advice. I went against my own discipline and stayed in until today. This was a risky decision, which I could regret this PM. Show me, I used your exit this morning as a sounding board to.my benefit. Thanks also. Let's hope this holds up.
 
airlift said:
Coolhand,
Thanks for customary advice. I went against my own discipline and stayed in until today. This was a risky decision, which I could regret this PM. Show me, I used your exit this morning as a sounding board to.my benefit. Thanks also. Let's hope this holds up.
Click to expand...

There's some nice gains on the table this afternoon. Hopefully it will hold better than yesterday.
 
Bond yields dropped like a rock and spx is up over 2%..
This govt really knows how to manipulate both stock and bond market..
 
Coolhand,

I will also thank you for the advice. I missed the IFT deadline yesterday but it did work out as I went back to the pad today. Really not sure what to make of this market.
 
CrabClaw said:
Coolhand,

I will also thank you for the advice. I missed the IFT deadline yesterday but it did work out as I went back to the pad today. Really not sure what to make of this market.
Click to expand...

Any time bearish levels rise, as they did after Monday, there's a chance for a short covering rally. Yesterday's close was weak, even with the gains, so the bears tried to take it down early today. But as mentioned before, we also have end of quarter window dressing going too. Gotta be nuts to short this market right now.
 
Just some thoughts; we appear to be in a trading range right now, which could go on for awhile. The underlying fundamentals of this market are not cause for taking more risk to push prices higher, so I'm not expecting any major surprises to the upside.

While the market appears stable at the moment, the economy is still very fragile. But as long as stability continues to be a viable viewpoint, the downside will probably be limited too.

We've had a heck of a run-up from the March lows, but expecting significant gains to be added in the Short to Intermediate term is probably expecting too much.

I remain in an Intermediate Term sell position as long as internals stay weak with an associated SS sell. I'm willing to make short term plays like the one I made this week, but they've got to have a good chance for success and those opportunities have not been happening very often the past few weeks.

I also have to consider the SS when taking a chance on a ST play. If it's early or mid month and I make that ST play, I run the risk of missing an Intermediate Term buy with no IFTs to get invested. I much prefer taking a ST shot at the end of the month as long as an IT buy is unlikely.

IT buys trump ST buys in TSP as far as I'm concerned.
 
Belated Vote for YES concerning the above poll ! :)

A million thanks for your help and keen insight on a daily basis ! ;)
 
airlift said:
Coolhand,
Thanks for customary advice. I went against my own discipline and stayed in until today. This was a risky decision, which I could regret this PM. Show me, I used your exit this morning as a sounding board to.my benefit. Thanks also. Let's hope this holds up.
Click to expand...

Congratulations on that trade. It was certainly a viable possibility for me, but I didn't want to take the risk. Yesterday's action was what I was expecting to see on Wednesday, but it didn't happen and the big bonus was paid the day after. Not sure how much upside is left though, window dressing or not. Next week is the end of the quarter/month and a holiday week. It'll be interesting to see how that plays out.
 
Coolhand,

Thanks for the very relevant articles. There are many important truths. I liked one salient point quite a lot:

"A short-term gain is better than a long-term loss" (1Ney, 299)

http://w3.tribcsp.com/~fredj/ney.html

I am sure that for me this is a better choice than a buy and hold mode. However, I recognize that the choice is an individual one - as long as one understand the risks and the benefits involved.
 
Perspective, perspective, perspective. And context. Two very difficult concepts to maintain in the economic landscape.

airlift said:
Coolhand,

Thanks for the very relevant articles. There are many important truths. I liked one salient point quite a lot:

"A short-term gain is better than a long-term loss" (1Ney, 299)

http://w3.tribcsp.com/~fredj/ney.html

I am sure that for me this is a better choice than a buy and hold mode. However, I recognize that the choice is an individual one - as long as one understand the risks and the benefits involved.
Click to expand...
 
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