Gumby's Account Talk

[Gumby]

Just bought some more UYG @ $5.74......may be a dumb move.:blink:

Financials are toast!:worried:

 

[Gumby]

I think the P&F price objective on GM is 100% correct.
Will the objective be met before year end?


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[Gumby]

For all you UYG fans out there. The price has now dropped to more than 50% below the met objective. Hope the $SPY doesn't try that.




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[Show-me]

 

[Gumby]

Met....and then some.... Should be a wild Friday with options expiring today!:nuts:

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[Gumby]

The bond market just closed and the S&P500 jumped 10 points and the DJIA jumped 100 points in 5 minutes. How far up will it go....or will it sell off?:nuts:

 

[Birchtree]

We may take back the 442 from yesterday - by the way that 442 was a great Oldsmobile.

 

[Gumby]

We may take back the 442 from yesterday - by the way that 442 was a great Oldsmobile.

I would not be surprised if the DJIA goes up 500 points before the close....but I think there will be a mild selloff and we will only close up 250.:nuts:

 

[Show-me]

Run baby run!

 

[ATCJeff]

Now the market needs to rest over the weekend so it can continue running Monday.

 

[Gumby]

From Govexec.com
That caution extends into other areas of TSP oversight. Barclays Global Investors, a British firm that oversees funds that four TSP funds buy into, engages in some securities lending, a practice where large lenders take collateral and fees in exchange for some of their securities, which borrowers then use in other transactions. This is a common approach, and Long wrote in a memo to the Federal Retirement Thrift Investment Board that Barclays is conservative in its securities lending, and the practice should not be a cause for concern.

"We were very clear that we understood the risk controls and properties," Long said during the meeting. "We are comfortable that BGI has the appropriate processes set up around securities lending. It doesn't mean we have to stop looking at this."

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Let me see if I get this right. Barclay's purchases shares of S&P500, Wilshire 4500, and other foreign stocks which comprise the I fund with money invested into the TSP funds by government employees- Billions of dollars worth of stocks in their massive portfolio graciously held in trust for us TSP investors.
Then Barclays is free to lend the shares to short sellers as they see fit..or use as collateral???? No doubt for a fee....probably a substantial one. Greg Long is comfortable with this?? Something about this smells of excrement.

 

[Gumby]

The market wasn't near as volatile as normal today.
I sold all my TSP and went 100% G for the rest of the month.
Also, made a trade that I really didn't plan on today.

In my personal trading account, the only stock that I have bought and held for 18 years is WMT.

Well, sold that WMT today for $54.80......bought back about 1 hour later for $54.29. Sold it again at $54.85 just before the close. Maybe buy it back again tomorrow?

I also have my eye on some call options on SDS.
.SBJLL Dec 90 Call
.SBJLG Dec 85 Call

These call options go up in price when the S&P500 goes down (just the opposite of normal Call optiions). I will buy some of these if the market pops up tomorrow. The Nov calls on SDS were money makers this month. These options are a little pricey and not for the faint of heart.:nuts:

 

[Birchtree]

When you sell a stock you are not susposed to repurchase the same stock for 30 days - if you do the IRS black boots will be making a late night visit - you are in violation of the wash rule. But then again you could just tell them to KYA.

 

[Gumby]

When you sell a stock you are not susposed to repurchase the same stock for 30 days - if you do the IRS black boots will be making a late night visit - you are in violation of the wash rule. But then again you could just tell them to KYA.

The IRS will have their way with me come April 15th .

 

[Gumby]

Why is GM up 60% today and climbing?
Did they get their tin cup filled with government cheese?

 

[poolman]

Why is GM up 60% today and climbing?
Did they get their tin cup filled with government cheese?

Stockholders know that they (GM) will get a Bailout. It's probably a good Bet.

I think they won't get there Bailout until near the end of the week. Dec 5.

Plenty of time to think about getting in again.

 

[Gumby]

The Great Reflation

Some interesting reading........almost scary.

MORE

 

[Gumby]

World markets plunge on US auto bailout failure

....but they will be back up.....market is holding up well this am. Could the government's plunge protection team be at work busily buying stock and index futures this am?

More

 

[Gumby]

I am going to try and play a bounce for this week due to the projected FED rate cut. The market could go either way......who knows.

IFT today 50%G, 5%F,15%C,15%S,15%I

 

[Gumby]

After the big bounce, I made an IFT to 33C, 33S, and 34I today.
Hoping to catch Birch's Santa rally then unload the sleigh.

I am currently long on SDS, BGZ, WMT, AEE
Sold Walmart Dec 57.50 calls