coolhand's Account Talk

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WorkFE said:
Looks can be deceiving. Tread lightly.
Click to expand...

Deceiving yes. OPEX can never be trusted to reflect the true market condition, regardless of where this market goes from here.

How does one tread lightly in TSP aside from staying in G fund? ;)
 
The sentinels now require courage of conviction - get the pain over quickly. All we need is positive noise from our socialist leader that they will extend the Bush tax cuts - otherwise they are toast with no jobs. As the movie says: "Drag Me To Hell".
 
Birchtree said:
The sentinels now require courage of conviction - get the pain over quickly. All we need is positive noise from our socialist leader that they will extend the Bush tax cuts - otherwise they are toast with no jobs. As the movie says: "Drag Me To Hell".
Click to expand...

I've been agreeing with you a lot lately. Hope it's not that Florida sun. :D
 
coolhand said:
I've been agreeing with you a lot lately. Hope it's not that Florida sun. :D
Click to expand...

I'd like to point out that the "socialists" seem to be doing quite well relatively speaking...
http://www.independent.co.uk/money/mortgages/mortgage-approvals-hit-a-new-high-2008121.html
Mortgage approvals hit a new high

Wednesday, 23 June 2010
 The number of mortgages approved for house purchase rose to its highest level this year during May, figures showed today.
A total of 36,709 loans were approved by the major banks for people buying a property during the month, according to the British Bankers' Association (BBA)
http://www.independent.co.uk/money/mortgages/mortgage-debt-drops-pound32bn-2027187.html

Mortgage debt drops £3.2bn

By Nicky Burridge, Press Association

Thursday, 15 July 2010

Britons reduced their outstanding mortgage debt by £3.2 billion during the first quarter, figures showed today.
The amount of money people unlocked from their homes was negative for the eighth consecutive quarter, as consumers continued to focus on reducing their existing borrowings rather than taking on new debt.
Homeowners have collectively injected £38.3 billion into their housing equity since the trend began in the second quarter of 2008, according to the Bank of England.

http://www.independent.co.uk/money/...firms-ready-to-do-business-again-1998871.html

Credit card firms ready to do business again

More 0 per cent deals are in the offing, says Chiara Cavaglieri

Sunday, 13 June 2010
After more than two years in the doldrums, it seems the credit card market is gearing back up, with a marked increase in the number of cards offering a 0 per cent rate to get people to transfer their balances. Are consumers really facing an easier time of it, or should they be watching out for pitfalls?
"Providers now feel ready to do business again in the current economic conditions and are actively trying to attract new customers," says Michelle Slade from comparison site Moneyfacts.co.uk.
At the start of 2010, there were a measly three cards offering a 0 per cent introductory deal on purchases of 10 months or more. Today, that figure stands at 11. Similarly, the number of cards offering 0 per cent for 10 months or more on balance transfers has shot up from 64 to 72. Among the new deals launched this year, stand-outs include Virgin Money's 12/12 MasterCard which offers 0 per cent for 12 months both on new purchases and balance transfers, as well as the 16-month 0 per cent balance transfer deal from Yorkshire Bank and Clydesdale Bank launched in May.

How's your block looking?
A creekside house 3 down from us just sold after over a year on the market... for 295k, sold prior in 2005 for 335k, and the latest assessed value-

Taxable Value Total $261,203.00

030510000_1.JPG

whoa that pic turned out big!
 
airlift said:
CH (and others),

Do you think quantitative easing (QE) will come soon enough to save the stock market and the economy from reaching the lower recesses of the abyss? Or is this dropping crashing? :worried:
Click to expand...

If markets were logical I could answer this question. But they are not.

I'm not looking for a crash. At least not yet.
 
In my opinion, QE only provides a temporary boost, and since the public now sees right through that, it might not even work again...and even if it does help temporarily, it only make things worse in the longer run since it will add more government debt and more fuel for potential hyperinflation once we get through the comng period of deflation. Besides getting back into panic mode and bailing out states, pension funds, and whatever other crisis is coming, I doubt Congress has the stomach for any more big stimulus packages. It's now in vogue for them to talk tough about cutting expenses with the election coming up.

In the short run, there's a significant risk here that the market could be rolling over into a big wave 3 dive right now....this guy for example thinks it's about to crash http://www.thechartpatterntrader.com/ while Terry Laundry thinks the market will gather itself after perhaps some further downside early tomorrow, then rally for a few more weeks to his upper channel around 1150ish http://www.ttheory.com/. McHugh expects a crash as usual, Tim Wood expects a rally for a couple more weeks then a crash. Flip a coin short term. 1080 will be critical for the bulls to get back up through early this week. Even if it does, I think it's only a matter of getting through one more rally leg into late-August at the very latest, then it's time to face the consequences of what governments worldwide have done to us.

That's how I see it, based on the conglomeration of everything I'm reading. Just in the last few days I received two rather dire sounding warning emails, one from Harry Dent (with a link to his video update from a few days ago http://www.hsdent.com/bookupdates/), and one on Friday from Casey Research, who are now begging their wealthy clients to leave the U.S. or at least sell all investment real estate and get some of their wealth out of the U.S. immediately because they feel the crash they've been warning about for several years is imminent. :blink:

Fortunately for me, I have no wealth to move anywhere. :nuts:
 
Tsunami said:
In my opinion, QE only provides a temporary boost, and since the public now sees right through that, it might not even work again...and even if it does help temporarily, it only make things worse in the longer run since it will add more government debt and more fuel for potential hyperinflation once we get through the comng period of deflation. Besides getting back into panic mode and bailing out states, pension funds, and whatever other crisis is coming, I doubt Congress has the stomach for any more big stimulus packages. It's now in vogue for them to talk tough about cutting expenses with the election coming up.

In the short run, there's a significant risk here that the market could be rolling over into a big wave 3 dive right now....this guy for example thinks it's about to crash http://www.thechartpatterntrader.com/ while Terry Laundry thinks the market will gather itself after perhaps some further downside early tomorrow, then rally for a few more weeks to his upper channel around 1150ish http://www.ttheory.com/. McHugh expects a crash as usual, Tim Wood expects a rally for a couple more weeks then a crash. Flip a coin short term. 1080 will be critical for the bulls to get back up through early this week. Even if it does, I think it's only a matter of getting through one more rally leg into late-August at the very latest, then it's time to face the consequences of what governments worldwide have done to us.

That's how I see it, based on the conglomeration of everything I'm reading. Just in the last few days I received two rather dire sounding warning emails, one from Harry Dent (with a link to his video update from a few days ago http://www.hsdent.com/bookupdates/), and one on Friday from Casey Research, who are now begging their wealthy clients to leave the U.S. or at least sell all investment real estate and get some of their wealth out of the U.S. immediately because they feel the crash they've been warning about for several years is imminent. :blink:

Fortunately for me, I have no wealth to move anywhere. :nuts:
Click to expand...

Hey Tsu, regarding all the negativity, how many well respected people are out there on the other side of the coin? Seems lately pessimism is everywhere and I ain't tryin' to ride that leg down. (If there is one)
 
JamesE said:
how many well respected people are out there on the other side of the coin?
Click to expand...

None as far as I'm concerned. I don't respect any of the parade of bulls that come on CNBC. They got it wrong in 2007 and they'll get it wrong again.
 
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