justbizness45's Account Talk

[justbizness45]

I've finally saw the light and decided to get set up in the tracker after being a silent observer (more or less) for the past year. :nuts: I am currently 100% G. No IFTs left for the month. I did pick up about 2% this month on the upswing at the first of the month. Doesn't count in the tracker, but it did count where it matters.

 

[Guest2]

I've finally saw the light and decided to get set up in the tracker after being a silent observer (more or less) for the past year. :nuts: I am currently 100% G. No IFTs left for the month. I did pick up about 2% this month on the upswing at the first of the month. Doesn't count in the tracker, but it did count where it matters.

JB45, thanks for sharing it with us on the Automated Tracker. Like I said
in my thread, we have approximately 8 trading days to be proven wrong
in our decision to bail when we did. 2% in a Bear Market for one month is
simply outstanding ! Can you imagine how well you'll do when the bottom
is seen and the Bull Comes A Charg'n. (Kinda like my wife with plastic).

 

[justbizness45]

JB45, thanks for sharing it with us on the Automated Tracker. Like I said
in my thread, we have approximately 8 trading days to be proven wrong
in our decision to bail when we did. 2% in a Bear Market for one month is
simply outstanding ! Can you imagine how well you'll do when the bottom
is seen and the Bull Comes A Charg'n. (Kinda like my wife with plastic).

Thanks SB. People like you are why I enjoy this MB so much. My hope is that Tom's head and shoulders pattern doesn't complete and the market takes off. We get to watch on the sidelines until the end of the month to see what transpires safe in our little haven. I'm not making any predictions at this point. Too much contradicting information.
JB45

 

[Guest2]

Thanks SB. People like you are why I enjoy this MB so much. My hope is that Tom's head and shoulders pattern doesn't complete and the market takes off. We get to watch on the sidelines until the end of the month to see what transpires safe in our little haven. I'm not making any predictions at this point. Too much contradicting information. JB45

Its the contradictions that many members warn us to ignore. Technicals
and Charts carry alot of weight in my decisions. For that, I go to the
threads that try to keep things in perspective. Nnutt, Corepuncher, James
Birchtree, 12%, Nsurf, H's14, L2R, Lady and the list goes on. I've never
read so much in my entire life! Ultimately, the yeast should be added to
the mix in hopes that your dough will rise. Sometimes, you can make alot
of bread. Hear's hoping we break bread together.
(sorry, I was feeling alittle metaphoric) :toung:

 

[justbizness45]

Still sitting in G waiting for the first of the month. 0 IFTs left I expect Moday may be an up day but expect a drop on Tuesday or later in the week.

Since I have gleamed specifics from several members on this MB and haven't shared anything about myself I thought I would share a little.

For a living I fix submarines in the Pacific Northwest.
For a passion I do Search and Rescue as a volunteer job. I have a standard schnauzer (Romeo) that is a scent descriminating trailing dog (finds specific person using scent article). He is 10 years old and has been in service since 2005. I also have a 3 year old german shepherd (Amika) that is in training to be Romeo's replacement. Photos attached if interested. I am a proud of the critters.

 

[Show-me]

justbizness45,

Very cool pets.

 

[tsptalk]

Good luck justbizness! I saw a few of your posts here and there but never did welcome you to the site. Thanks for joining in!

Tom

 

[nnuut]

"Search and Rescue as a volunteer job"!! We need more like you, Great dogs!
Norman

 

[justbizness45]

"Search and Rescue as a volunteer job"!! We need more like you, Great dogs!
Norman

Thanks Norm and everyone else. The dogs are awesome and we love'em.

I thought the selloff would be tomorrow and not today. Good thing I am in G with no IFTs or I might have been crying in my beverage of choice. :toung:

 

[justbizness45]

I am starting Sep in G. I think it will be a wild ride come Tuesday when all the vacationers come back to work on Wall Street.

I posted some numbers on Squalebear's thread in regard to BGI always seeming be overpaying vs. the index lately.

 

[justbizness45]

I was googling our illustrious FTRIB members and guess who is running for congress in NY? None other than FTRIB Chairman Andrew M. Saul!! Anyone want to endrorse him??

 

[luv2read]

and THAT is a conflict of interest. He needs to resign from the board if hes running for Congress, especially with the contract up for renewal. Time to contact the Ethics Committee - he's involved with contractual decisions regarding federal employees retirement - including his own.

 

[justbizness45]

and THAT is a conflict of interest. He needs to resign from the board if hes running for Congress, especially with the contract up for renewal. Time to contact the Ethics Committee - he's involved with contractual decisions regarding federal employees retirement - including his own.

Not be a stick in the mud because I would like him to resign and not get elected, but those rules would not apply until he is elected, right? Currently he is a private citizen sitting on one of many boards (you should read his resume) and running for public office.

 

[luv2read]

There's a fine line and I think the problem is the potential for influence.

I've read the resumes of all of them. Boring read unless you are looking for "connections."

 

[justbizness45]

There's a fine line and I think the problem is the potential for influence.

Agree with that, I don't think he should be voting on anything that effects his potential retirement.

 

[justbizness45]

My original plan was to wait for a test of or near the mid July lows but that may not be a long enough wait. It's so unfortunate the market is so focused on oil. I am not planning to make a jump back in until the affects of Gustav and depending on impact Hanna roll through. Oil though, seems to be a short term impact lately causing rapid spikes up or down. With only 2 IFTs it is hard to play.

Longer term in my estimation is the finacials. They have been pretty sneaky lately about taking over banks on week ends or when the market is closed. Last Wednesday's (I think it was Wed) report listed 117 banks in trouble. The average failure rate is 13% of those making the list(per MSNBC). If a major bank fails on or before Tuesday, all bets are off. That combined with oil could give Braveheart his 1000 point drop.

The bottom line is I am sitting safe in G until these things play out. So the earliest I can see myself back in stocks is COB Wed. I hope whatever happens the July lows hold.......... Then again, read Lady's post on pessimism and fear. Have a great weekend. JB45

 

[justbizness45]

Last Wednesday's (I think it was Wed) report listed 117 banks in trouble. The average failure rate is 13% of those making the list(per MSNBC). If a major bank fails on or before Tuesday, all bets are off. That combined with oil could give Braveheart his 1000 point drop.

I see on Show's thread that the 10th bank of the year failed in GA as announced today. It wasn't all the big a bank but is still not what I wanted to hear.

 

[justbizness45]

Maybe some good news for the market, from Bloomberg.com below:

Also here is a link from Grand Isle, LA. http://www.kcra.com/video/17358269/

Oil, Gas Fall as Hurricane Gustav Weakens, Easing Damage Fears

By Grant Smith and Alexander Kwiatkowski
Sept. 1 (Bloomberg) -- Crude oil fell to its lowest in more than four months after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries.
Gustav has been downgraded to a Category 2 hurricane, the second-weakest of the five strength levels, the National Hurricane Center in Miami said in its latest advisory. Preparations for the storm closed 96 percent of offshore oil production and about 10 percent of U.S. refining capacity.
``The latest forecast shows that while Gustav is perfectly aimed at the heart of U.S. oil and gas production, it's not quite as strong as was initially feared,'' said Mike Wittner, Societe Generale's London-based head of oil research. ``The refining system is not as stretched this time round, compared with Rita and Katrina.''
Crude oil for October delivery fell as much as $4.83, or 4.2 percent, to $110.63 a barrel in electronic trading on the New York Mercantile Exchange, and traded at $111.05 at 3:24 p.m. London time. It earlier rose as much as 2.2 percent to $118.
The contract is at its lowest since April 11, having lost 25 percent from the record of $147.27 a barrel reached on July 11.
Natural gas for October delivery fell 46.6 cents, or 5.9 percent, to $7.477 per million British thermal units at 3:38 p.m. London time.
Gulf Coast refineries have cut at least 1.56 million barrels a day of production, about 9.8 percent of the U.S. total. Gustav, packing winds of 115 miles an hour (240 kilometers an hour) was 75 miles south of New Orleans at 10 a.m. New York, according to the National Hurricane Center.
Workers Evacuated
Still, Gustav is two categories below the peak strength reached by Hurricane Katrina, which sent oil prices to records after wrecking refineries around New Orleans three years ago. Katrina's intensity was greatest over the gulf, where it damaged rigs, platforms and undersea oil and gas pipelines. It then weakened to a Category 3 hurricane before reaching land.
Workers from more than 70 percent of the platforms and rigs in the gulf have been evacuated as Gustav approaches, the U.S. Minerals Management Service said in a statement on its Web site yesterday. About 1.25 million barrels a day of oil and 6.09 billion cubic feet of gas have been shut, or more than 96 percent of offshore oil output and 82 percent of gas production.
The Gulf of Mexico normally produces about 1.3 million barrels of oil and an estimated 7.4 billion cubic feet of gas a day, according to the Minerals Management Service, part of the U.S. Interior Department.
Nymex electronic trading opened early today to allow traders to respond to Gustav. Trades will be recorded as part of the Sept. 2 session because of today's U.S. Labor Day holiday.
Brent crude oil for October settlement was down $2.46, or 2.2 percent at $111.59 barrel on the ICE Futures Europe Exchange.
To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net; Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net
Last Updated: September 1, 2008 10:51 EDT

 

[justbizness45]

Anyone want to give me lessons on making my avitar show up on the MB? I've tried a couple of times and failed.

 

[justbizness45]

Anyone want to give me lessons on making my avitar show up on the MB? I've tried a couple of times and failed.

Fixed on my own. Followed the instructions, duh.