justbizness45's Account Talk

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I have now jumped in with both feet. I opened a Zecco account (Roth IRA) today. I'm planning on opening one for the wife too. After and if I put the max contributions in those this year I may open a regular trading account. That option is down the road several months. I have never purchased a real stock. I've played around on a practice site and am up 4.5% since November but it doesn't count when it's Monopoly money.:nuts: I've developed a short list of stocks I want to go long in and those will be my first investments. Wish me luck..:blink:
 
Here's an article that makes it sound as though people are waking up a little to their credit issues.

"On Friday, the government reported Americans' savings rate, as a percentage of after-tax incomes, rose to 2.9 percent in the last three months of 2008. That's up sharply from 1.2 percent in the third quarter and less than 1 percent a year ago."

http://www.foxnews.com/politics/2009/02/01/frugal-americans-hurt-economic-recovery/

The only thing is they put a negative spin on it and make it seem that people saving is a problem. :confused:
 
Yeah Birch I have to agree with you. I think those of us who make more than 40K are going to take it in the shorts for the next 4 years.
 
justbizness45 said:
It looks like the next good resistance is 800-810 on the S&P. If we get a hard drop down I might try to jump on a dead cat if it holds. If not then a retest of 750 may be in the works. /quote]


Still looking for the above range. We haven't quite got to it yet. I think I want to see us hit around 805 and it hold before I jump in too much unless we get a huge down day then I might consider a dead cat play. 100 G with contributions going to F. Good luck to those still in.
Click to expand...
 
Boy, talk about making the call, Tom's blog was dead on today. The S&P hit 851 and richocheted like a billard ball the other way. Good call to Tom. Alot of people are getting bullish and I might at least short to intermediate term if we can break and close above the wedge formation Tom's been showing. I still think we are going to go down short term and am still waiting to see a bounce near 800. 100G and holding.
 
Since the market is not playing the way I want it to, I am going to pout and stay in the Garage (G). Thanks to whoever came up with the new term. :) Until we soundly break below 820 or above 851 (we bounced again today at 850.55) I am on the sidelines. I am concerned about a sell the news on Monday (Obama announcement on bad bank plan) and don't feel it is a good setup to go in right now. Futures are currently mixed and we may be in for more of the same tomorrow. Unfortunately I have a ship in so I have to make my decision tomorrow by 1115 ET. Darn meetings. :mad: Good luck to all,
 
Based on what the tech guys are saying I want to see a close above 850 and an interday above 870 to believe we have a rally going.

Off to work, have a great day!!
 
Crazy weekend personally but it is looking good for the next few days in my mind. I am strongly considering a short term play. As long as we have a pullback I may go in this morning. I haven't completely made up my mind yet.
 
JB,
Big power move. Before noon it looked better. I just did not have the nerve to pull the trigger.

Good luck.
 
WorkFE said:
JB,
Big power move. Before noon it looked better. I just did not have the nerve to pull the trigger.

Good luck.
Click to expand...

I pulled the trigger. 100S COB today. I had to make my decision early before 1115ET and I may end up paying for it. I was hoping we would get some consolidation down to around 850 on S&P today for my buy in. Oh well, now I need the market to cooperate and go to 900 so I can jump back out. We shall see....:cool:
 
justbizness45 said:
I pulled the trigger. 100S COB today. I had to make my decision early before 1115ET and I may end up paying for it. I was hoping we would get some consolidation down to around 850 on S&P today for my buy in. Oh well, now I need the market to cooperate and go to 900 so I can jump back out. We shall see....:cool:
Click to expand...

Wow, you have guts to go for that one. It may turn out to be a good contrarian move. Good luck. I am setting on the sidelines.:)
 
Originally Posted by Gumby
Wow, you have guts to go for that one. It may turn out to be a good contrarian move. Good luck. I am setting on the sidelines.:)


Thanks buddy I may all the luck I can get.:worried:

I wish you luck too. I jumped in on Friday for todays result with 11% split between C-S-I-. I think I made about 9 cents total. Tomorrow I may git out.:confused:
 
Handballer said:
Originally Posted by Gumby
Wow, you have guts to go for that one. It may turn out to be a good contrarian move. Good luck. I am setting on the sidelines.:)


Thanks buddy I may all the luck I can get.:worried:

I wish you luck too. I jumped in on Friday for todays result with 11% split between C-S-I-. I think I made about 9 cents total. Tomorrow I may git out.:confused:
Click to expand...

Thanks!!
 
Quick update, still 100S. Tuesday was a killer. today was nice but I am poised to bail if we break below the wedge. Good luck to all, JB45
 
justbizness45 said:
Quick update, still 100S. Tuesday was a killer. today was nice but I am poised to bail if we break below the wedge. Good luck to all, JB45
Click to expand...

JB45, My feeling is that the market will rally today and tomorrow, but more than likely not recover the overall loss from Tuesday. Not sure about next week however. The stimulus package will more than likely pass over the weekend but I believe next week is optionX. Isn't this the same set up as the bailout in "08"?:confused: And we all now how that worked.
 
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