justbizness45's Account Talk

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I just e-mailed all my representatives. I encourage everyone to do this ASAP. This bailout is not the answer. IMO giving Paulsen a blank check is one of the biggest mistakes we can make. Feel free to plagiarize or change into your own words:

I am writing to express how horrified I am by Mr. Paulson's sellout of the American taxpayer. 700 billion is just enough money to help out his Wall street cronies and will do nothing to stop the fall. There is currently worldwide Credit Default Swaps (CDS) of a nominal value of $65+ trillion. These CDS are basically worthless as they insure the insurers of the insurers against default. This is a pyramid scheme built by Wall Street and it is about to implode on them and they are looking for someone to bail them out. Attached is a link that explains CDS. While I don't agree with everything they say for fixing the problem, it does explain the problem.
http://www.moonofalabama.org/2008/09...on-declar.html
Please don't let it be the American taxpayer that foots the bill. The market needs "regulation and oversite" not more money to wasted. Sincerely, , taxpayer
 
There is so much garbage out there rigth now about the bailout it is really hard to sift through. Here are my thoughts:

I know something needs to happen but I don't trust Paulsen and I think no matter what it is going to cost us dearly. That more than anything makes me p$%#ed off!!

For better or worse a bailout bill will get passed. I am sure of that. We must wait to see how much oversight there will be associated with it.

Like others, I think it will happen before the weekend is over and that the market will take off with big gains at least for a few days. That is also depressing since I am still stuck on the lilly pad for 4 more trading days. :notrust:

It's raining and I'm melancholy. Time for a scotch rocks, the bar's open if anyone wants to join me, JB45 +1.20 MTD
 
Congrats to those who made some bucks today. News tonight is mostly bad. WaMu in recievership and economic data looks lousy. Futures are down but that can change in a heartbeat. Tomorrow is going to be very interesting. Overall, G is probably the best place to be. I am looking for an entry point at the first of the month. Made another .01% yesterday. +1.21% MTD Have a great night.
 
Below is a little light review of the day's festivities. Bottom line is they are attempting to go ahead with the bailout vote. I keep hoping the rank and file of the House and Senate will listen to the will of the people. I'm ever the eternal optimist. :) COB Monday I expect to be +1.25 MTD which is my goal for 15% a year. Unless there is a major drop on Friday to the jobs report I don't expect to be jumping back into the market until we test 1160 on the S&P again. Maybe a late month entry to ride the election "high". I burned my IFTs early this month and got stuck on the sidelines. I am going to try and be more selective overall next month and try for a longer stint in stocks and more gain.

http://news.yahoo.com/s/ap/financial_meltdown

<iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/26929684#26929684" frameborder="0" scrolling="no"></iframe>
 
Wow, at least some members of the House vote with a conscious. Today was incredible and a hard hit. I really believe it will bounce back in the next couple of weeks. While I am opposed to the bailout, I am not opposed to the money. I am opposed to the method of distributing the money.

I am well trained in emergencies and this is one. In emergencies/mass casualty senarios you evaluate each casualty and break it down into 3 groups: Those who don't need much care, those that can be saved with immediate treatment and those that can't be saved due to injury/resource limitations.

Congress needs to do the same now. Force transparency of balance sheets as Denniger has been calling for and evaluate each entity. The first group is easy and won't be much of a cost on the total bill. The last group, WaMu as an example they take over and carve up. Don't waste any money. The main portion of the remaining money goes to who can be saved. Saving as many as possibe within the resource limits. Giving them solvency for a stake in the corporation. This will force hard and unpopular decisions and would go against the lobbyists and alot of campaign contributors. This is the only way I see the money being spent where it is needed. Unfortunately I don't see our legislators having the stones to do this. JMHO Comments??
 
I was in a huge hurry when I posted my move this morning and I didn't have time to post any thoughts. So here they are:
After losing my posterior the first quarter of this year. I think I posted that earlier. Anyway, I changed my investment strategy. My first stratgy was sit in G. :suspicious: While that works, I was really disappointed in my 2nd quarter return.

What worked for me last quarter and I am going to continue as long as we are in a bear market is to invest for 1.25% a month (15% a year). Now I am not a market guru by any stretch, so I read the posts of SB, Birch, 350z, CP, steady, 12%...... actually I read all of them. I throw out the political BS, listen to the great technicals posted and spend some time surfing and researching on my own. Make a decision, jump in and out. Then it's the rest of the month on the lilly pad complaining about no IFTs.:nuts: My point is I'm going to try to not get greedy. I've done the calcs and 15% a year for the next 8 years puts me over my goal to retire. Provided the dollar is still worth more than a peso then.:cheesy:

I am in 50C/50S expecting short ride on the the bailout. If we are up at all tomorrow I will bail if it looks like I can make my goal. JB45
 
justbizness45 said:
I was in a huge hurry when I posted my move this morning and I didn't have time to post any thoughts. So here they are:
After losing my posterior the first quarter of this year. I think I posted that earlier. Anyway, I changed my investment strategy. My first stratgy was sit in G. :suspicious: While that works, I was really disappointed in my 2nd quarter return.

What worked for me last quarter and I am going to continue as long as we are in a bear market is to invest for 1.25% a month (15% a year). Now I am not a market guru by any stretch, so I read the posts of SB, Birch, 350z, CP, steady, 12%...... actually I read all of them. I throw out the political BS, listen to the great technicals posted and spend some time surfing and researching on my own. Make a decision, jump in and out. Then it's the rest of the month on the lilly pad complaining about no IFTs. My point is I'm going to try to not get greedy. I've done the calcs and 15% a year for the next 8 years puts me over my goal to retire. Provided the dollar is still worth more than a peso then.

I am in 50C/50S expecting short ride on the the bailout. If we are up at all tomorrow I will bail if it looks like I can make my goal. JB45
Click to expand...

Thank you for the Honorable Mention. The path you take to come to a
informed decision is a mirror image of my own. I am 20c-20s-10i-50g for
tomorrow. The Futures are of concern, as they are currently trading down
-.87%dow -1.02%s&p -1.03%nasq. But I've come to learn that they don't
give you a clue of what tomorrow has in store for us, this early in the day.
So good luck to us both. You know I'll be watching and waiting to see if
the 12noon deadline will need to come into play. ;)
 
squalebear said:
Thank you for the Honorable Mention. The path you take to come to a
informed decision is a mirror image of my own. I am 20c-20s-10i-50g for
tomorrow. The Futures are of concern, as they are currently trading down
-.87%dow -1.02%s&p -1.03%nasq. But I've come to learn that they don't
give you a clue of what tomorrow has in store for us, this early in the day.
So good luck to us both. You know I'll be watching and waiting to see if
the 12noon deadline will need to come into play. ;)
Click to expand...

I am expecting a jump up after the senate vote and how hard the market sold the news after the house voted down the bailout. But the big boys can drive the market and they may decide the house needs an extra push tomorrow.
 
justbizness45 said:
I am expecting a jump up after the senate vote and how hard the market sold the news after the house voted down the bailout. But the big boys can drive the market and they may decide the house needs an extra push tomorrow.
Click to expand...

I don't give much creedance to the notion that the Future Contracts
are being driven down to excite the need for Congress to do the right
thing. However, I don't know much about those kind of things. Tomorrow
is going to be interesting and yet another learning experience for me. ;)
 
squalebear said:
I don't give much creedance to the notion that the Future Contracts
are being driven down to excite the need for Congress to do the right
thing. However, I don't know much about those kind of things. Tomorrow
is going to be interesting and yet another learning experience for me. ;)
Click to expand...

I wasn't refering to the futures as much as the big sell off on Monday and if they want to make a point it could happen again tomorrow.
 
justbizness45 said:
I wasn't refering to the futures as much as the big sell off on Monday and if they want to make a point it could happen again tomorrow.
Click to expand...

Thanks for the clarification, my bad. Should we see that drop happen
tomorrow, I have some gun powder just in case ! Thats one of the biggest
reasons I didn't go in 100% to start. The biggest drop in dow history got a
51.835% recovery over the last 2 days. If we see the 41.835% left over,
that would be pretty sweet. That breaks down to a +3.76% average gain
within the (C) - (S) - (I) and (F) just to get back to point we were at just
prior to Monday's meltdown. Take a extra 1.76% off for terrible financial
news we had today (and Friday's unemployment figures) and we should be
at the break even point with a +2.0% average gain. Again, that would be
great. It would put me up to my 1% per month goal w/ 50% invested. :confused:
 
I'm not feeling very smooth myself today. Should have waited a day. 20/20 hindsight. I'm staying in because I still think we are coming to an upswing soon. I bought in at 1161/43.66 S&P/VXF. As soon as it gets near 1181/44.55 I am back to the lilly pad.:D
 
:confused::confused: I certainly did not expect a "Sell the News" reaction after the way the market tanked on Monday when the bill was voted down. I'm down 4.78% for the month not counting today. :mad: I will count it as a blessing to break even this month. Now I have no choice to wait for the rally that the technicals say should be coming. My plan is basically the same get up to 1181 in C or 44.55 in S and I pull out. I'm teaching our new group of Search and Rescue volunteers this weekend so I won't be around much. Everyone have a great weekend.
 
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