justbizness45's Account Talk

[justbizness45]

If I had an IFT left I might try to play another bounce. It is definately dangerous out there. Here is a good read in laymen's terms on the current financial crisis.

http://finance.yahoo.com/banking-bu...t-Crisis-Since-1930s-With-No-End-Yet-in-Sight

MTD +1.15

 

[justbizness45]

Congrats to those who were vested today. If the S&P can stay above 1200 tomorrow then we may have a bear market rally on our hands. If I had an IFT left I would try to ride it to 1250 or so. Since I don't I will stay in my "G" spot until 10/1. Have a great day, JB45

MTD +1.16

 

[Braveheart]

Congrats to those who were vested today. If the S&P can stay above 1200 tomorrow then we may have a bear market rally on our hands. If I had an IFT left I would try to ride it to 1250 or so. Since I don't I will stay in my "G" spot until 10/1. Have a great day, JB45

MTD +1.16

I think we will see 1265 - 1275 and another big day. I still have 1 IFT left and went through hell is the C Fund this past week but we do have a chance at a few more days of this so I am holding and will look to see if we are up 350+ at 11 AM EST it will be a day like today just add another 150. Predict a gain of 550 points today so everyone laugh because this is nuts but I will take it.

 

[Gumby]

Posted this on Sugar's thread also, but of the 117 banks in trouble, if 13% of them fail (that's the average) the FDIC won't have enough money and will need to borrow from treasury.

http://biz.yahoo.com/ap/080916/bank_deposits_safety.html

MTD +1.14%. +.01% today

THey can just have the FED print more money. No need to borrow and no need for Congress to appropriate it.

The FED's printing presses are going to be working overtime to print all this money to buy the "illiquid" assests the bank are going to get to jettison onto the taxpayer.

Q. What is an "illiquid assest?

A. A house that an appraiser says is worth $500,000 that is actually worth only $150,000 -but the bank has a loan of $600,000 on it. The new RTC set up by Paulsen will make the taxpayer's a deal and buy the paper for only for only $799,999. They have to make enough money to pay their CEO his bonus.

 

[justbizness45]

I think we will see 1265 - 1275 and another big day.

Good call Braveheart.....hit 1265 for the high. Picked up another whopping +.01% putting me +1.17 for the month. I'll make my 1.25% goal for the month but it is killing me not to be in the market right now. Damn 2 IFTs a month is costing lots of bucks.

I'm not sure how the announcement of the cost of the "new deal" is going to affect the market. I'm thinking if I had been in I would be making a as quick an exit as possible at this point. JMHO folks. Congrats to those of you making money and "Gee it's green on this lilly pad to the rest of you." Have a great weekend, JB45

 

[justbizness45]

What is an "illiquid assest?

I'm living in one, owe more than it's worth. Did pay off most of my other debt on the refi but I guess the difference is I can afford the payments. I am also the type that honors my debts and pays his bills so I won't be walking away from it either.

Even people who can afford the payments got caught up in the housing bubble. I told my wife last month that I hope she likes it here because we aren't moving/selling until I retire.

 

[Birchtree]

Houses should be treated more like a stock portfolio - sometimes they appreciate and sometimes they depreciate. If you hold long enough and build equity you'll receive the true value.

 

[justbizness45]

The guys definitely a Dem, but he makes some good points. What do you think??

http://www.youtube.com/watch?v=uYrhh935h0I

 

[Birchtree]

Houses are depreciating because when a bank sells a forfeiture in a particular neighborhood that creates lower pricing in all the other houses. The new government plan will buy these forteiture homes and hold them until the situation stabilizes - they are under no pressure to sell them at markedly reduced prices.

 

[Braveheart]

Good call Braveheart.....hit 1265 for the high. Picked up another whopping +.01% putting me +1.17 for the month. I'll make my 1.25% goal for the month but it is killing me not to be in the market right now. Damn 2 IFTs a month is costing lots of bucks.

I'm not sure how the announcement of the cost of the "new deal" is going to affect the market. I'm thinking if I had been in I would be making a as quick an exit as possible at this point. JMHO folks. Congrats to those of you making money and "Gee it's green on this lilly pad to the rest of you." Have a great weekend, JB45

Wow I forgot I posted my guess on Thursday about that 1265 mark as the high for today. I am still 100% C Fund and notice it is being out performed a bit by the S Fund. I expect not as big a spike on Monday with will still see or close above 1275.

"I did notice another Friday FDIC Bank takeover in WV from bad loans. You (THE FED) can fix up a house in a slum but does anyone really want to buy it for more money that is what this Gov. takeover is. I don't want that house and I am moving out - Braveheart 9/19/08"

 

[justbizness45]

Houses are depreciating because when a bank sells a forfeiture in a particular neighborhood that creates lower pricing in all the other houses. The new government plan will buy these forteiture homes and hold them until the situation stabilizes - they are under no pressure to sell them at markedly reduced prices.

That's good, it will give all the homeless finance executives a place to live after they get fired. Oh, I forgot they get paid millions for running a company into the ground.....:suspicious:

 

[Show-me]

The guys definitely a Dem, but he makes some good points. What do you think??

http://www.youtube.com/watch?v=uYrhh935h0I

On the surface I would agree with him. Should a company be "too big to fail"? What happens to competition when they become too big? I would rather see 10 medium size banks than 2 mega banks. Spread out the risk and increase competition.

 

[justbizness45]

On the surface I would agree with him. Should a company be "too big to fail"? What happens to competition when they become too big? I would rather see 10 medium size banks than 2 mega banks. Spread out the risk and increase competition.

Yeah throw the political BS out of it and his makes a good arguement. No corporation should be allowed to be too big to fail. I think monoply laws were for that in part other than the obvious price control reasons for them.

 

[justbizness45]

This is another huge deal Paulson is making for his cronies:

WASHINGTON - The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.

The Fed announced that it had approved the request of the two investment banks. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions.

The change continued the biggest restructuring on Wall Street since the Great Depression.
Shares of both institutions had come under pressure ever since the bankruptcy filing last week by investment bank Lehman Brothers and the forced sale of investment bank Merrill Lynch to Bank of America.

Investors feared that the last remaining independent investment banks would not be able to survive in their current form. There had been speculation that both institutions would be acquired by commercial banks, whose ability to take deposits would give them a stable source of funding.
The decision by the two giants of finance to get approval from the Fed to change their own status represented another dramatic development in one of the most turbulent periods in Wall Street history.
In the surprise announcement late Sunday, the central bank said that to provide increase funding support to the two institutions during the transition period, they would be allowed to get short-term loans from the Federal Reserve Bank of New York against various types of collateral.

 

[justbizness45]

Several leaders are warning caution on the bailout. The quotes are no golden parachutes, CEOs should not be rewarded for bad decisions ect.. Overall I don't think the market is going to like this, but like SB, I'm never right. Sorry SB, you said it first. Since I haven't been posting for more than 3 months you still hold the record . :laugh: Seriously, I think at least a test of the last low is coming. With all the hype and government interference there is no way telling when it will come. Good luck to those swimming in the pond. I'm in G relaxing elsewhere,


+1.19% MTD, View attachment 4735

 

[ATCJeff]

Several leaders are warning caution on the bailout. The quotes are no golden parachutes, CEOs should not be rewarded for bad decisions ect.. Overall I don't think the market is going to like this, but like SB, I'm never right. Sorry SB, you said it first. Since I haven't been posting for more than 3 months you still hold the record . :laugh: Seriously, I think at least a test of the last low is coming. With all the hype and government interference there is no way telling when it will come. Good luck to those swimming in the pond. I'm in G relaxing elsewhere,


+1.19% MTD, View attachment 4735

Oh your right, if Washington does not move quickly, the market will fall very fast and make last week look like small moves. Sitting in the Geee and sleeping well at night!

 

[Guest2]

but like SB, I'm never right. Sorry SB, you said it first. Since I haven't been posting for more than 3 months you still hold the record.

Fun at my expense on someone elses thread. Boy oh Boy ! Did I forget to
mention that I'm more correct on a YTD basis, then wrong. Its been tough
these last few months, even for the 7 figure dudes ripping off their clients.
If the Market goes down again today, I'm still in the (G) Fund. Lets just
say that I'm slowly becoming MORE right, on a MTD basis, each time the
Market Tanks like it did yesterday ! :laugh:

 

[justbizness45]

Fun at my expense on someone elses thread. Boy oh Boy ! Did I forget to
mention that I'm more correct on a YTD basis, then wrong. Its been tough
these last few months, even for the 7 figure dudes ripping off their clients.
If the Market goes down again today, I'm still in the (G) Fund. Lets just
say that I'm slowly becoming MORE right, on a MTD basis, each time the
Market Tanks like it did yesterday ! :laugh:

I lost 16% first quarter of this year on the buy and hold wagon. SB, people like you are how I am slowly climbing back out of the hole. You have my thanks and I appreciate what you and all the others on this MB do. If it wasn't for this MB people would have to do their research on the FRTIB website and we all know what they preach. :suspicious:

 

[Guest2]

SB, people like you are how I am slowly climbing back out of the hole. You have my thanks and I appreciate what you and all the others on this MB do.

I'm trying to win Steady's Quote of the Week so here it goes;

"I find no greater satisfaction then to be recognized and appreciated. You
motivate and inspire me to do what I do. For that, I need to thank you!"

 

[justbizness45]

The FBI investigating the CEOs!! I like it, do I think anything will come of it..No. But I want them to squirm and the general public to learn what they really did!!.

http://news.yahoo.com/s/ap/20080924/ap_on_go_ca_st_pe/financial_meltdown_investigation