Fire Sale

[JOVARN]

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May play a little I fund but will keep the majority in cash and buy C at the fire sale. I hope this is one Fire I don’t miss.

Way to much turmoil too fast for me to play the market.

Between the Jobs report, Fed Rate rise, the Hurricane, Gold at 15 yr highs, The refineries getting slammed, inability to transport Diesel fuel, Post Katrina and Pre Rita, Gas up Gas down. I foresee all time lows for stocks for the short term. The Million Dollar question is how long is the short term.

 

[Birchtree]

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You just missed your chance for the lows - we've been constructing a base from which to rally and penetrate overhead resistance going much higher. I wouldn't be a bit surprised that after Rita the Fed comes to market and drops rates to achieve stability - if there is no wage-price spiral to fuel inflation there will be no inflation. I'm staying long just in case the market turns on a dime.

 

[Greg]

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Birchtree wrote:

You just missed your chance for the lows - we've been constructing a base from which to rally and penetrate overhead resistance going much higher.

OK. Now tell us the ones about Santa Claus, the Tooth Fairyand the Easter Bunny.

 

[coolhand]

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Greg wrote:

Birchtree wrote:

You just missed your chance for the lows - we've been constructing a base from which to rally and penetrate overhead resistance going much higher.

OK. Now tell us the ones about Santa Claus, the Tooth Fairyand the Easter Bunny.

Fact is, there is a lot of rebuilding to do now and post Rita. It has to happen...period. So what if we print more money. As long as interest rates keep slowly climbing bond holders will be compensated. The global market is not gonna stand around and let our economy fall apart. They are as dependent on us as we are on them.

The market does not just go up...it goes down too. We have a lot of fear in the market right now. Question is can an investor see past the fear...the wall of worry. If not, one maybecome paralyzed and make the wrong decision.

How many times has the market surprised both bulls and bears. Forget about logic. It doesn't work!!! What if we're down for the next month???Is that really too long to wait for a big move up???

It's great when we can hit the highs and lows, but the reality is we cannot get it right every time. The best we can hope for is to make our trades with the information at hand. But you have to try and keep emotion out of it!

We are manipulated between greed and fear. I posted what I consider to be a good article that discusses it.

http://www.tsptalk.com/mb/forum23/2215.html

Youshouldn'tbelieve every shred of what a writer puts on paper. But often there are some lessons to be gleaned in any event.

I cannot predict the future, nor can anyone else.But a few down days does not bother me. This too shall pass.

 

[Rolo]

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coolhand wrote:

It's great when we can hit the highs and lows, but the reality is we cannot get it right every time.

Yup! Be happy with getting near it....this isn't Darts.

 

[mlk_man]

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Rolo wrote:

Yup! Be happy with getting near it....this isn't Darts.

<---------------Western Maryland Dart Association member.



Which it was darts! :^

 

[JOVARN]

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I loved the dart analogy. It’s getting very close now. I have greed (the gambler) sitting on 1 shoulder with common sense on the other.

And the dart board thing has me talking to myself.



On a positive note one of the headlines in the AM paper reads: Home refis may be the second-highest ever this year as borrowers scramble to convert adjustable rate mortgages.

The long term has many positives a few of which is the market will be flooded with FEMA money $$$$$, Red Cross $, Insurance Money$$$, and refinancing $$$$$.





Side bar: Where is Wonder Woman?

 

[JOVARN]

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Got to love the media. The difference between Cat 5 and Cat 4 is with both you still loose your house



Dow Closes Up 44 As Rita Weakens Slightly[size=][/size]

[size=[font="Times New Roman"][/font]][/size]National Hurricane Center downgraded the storm to Category 4 from Category 5 during the afternoon, some investors relaxed a little and starting searching for bargains after three down days.



Birch you were a head of the headline: Nonetheless, some investors were optimistic that the Fed, despite its decision on Tuesday to continue raising rates, will decide to change its strategy if evidence continues to point to a slower economy.

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[size=[font="Times New Roman"]Talk about the glass being half full. [/font]][/size]