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MrJohnRoss' Account Talk
- Thread starter MrJohnRoss
- Start date
JTH
Well-known member
Sry buddy, I felt the same way, knowing we were going to re-test the lows and I was going to take part in that test.
MrJohnRoss
Well-known member
Glad to see the market crawl back up from the depths. The Dow was down -344 at one point, but finished "only" down -187. The S Fund didn't drop as badly as the C Fund, so that's also a bonus, since I'm selling today.
kave
Member
I'm very bullishish on BAC. I bought many shares in the low $8 range. I plan to keep it as a portfolio anchor.
JamesE
Member
So, you're expecting this rout to continue? We just had 4 down days in a row and you have possible ECB action after the 22nd. I'm still positive by 16 cents on my C fund share price so I am holding tight.
MrJohnRoss
Well-known member
I'm staying away from banks and financials. They've been underperforming the S&P since April of last year, as yields have been dropping. When yields drop, the spread that banks can earn diminishes. IMHO.
MrJohnRoss
Well-known member
MrJohnRoss
Well-known member
I think the odds of the market digesting all this bad news is not going to go away overnight. With all the psychotic market behavior lately, I'm using what little prudence I possess, and heading to the sidelines to watch the tilt-a-whirl spin round and round and up and down for a while.
MrJohnRoss
Well-known member
John Murphy pointed out that copper is now trading at a six year low. Because copper is a bellweather for global economy, "Doctor Copper" may be telling the markets that the global economy is putting the brakes on. Other metals are falling as well, i.e., steel and aluminum. The falling price in copper is dragging down bond yields. Lower bond yields drag down bank stocks. Volatility rises. Throw in the massive drop in oil prices, and things could be rather dicey for a while.
There is always the chance that we could get a snap-back rally in the markets, but I just don't know how much strength or stamina it would have.
Tomorrow is considered a historically "Bullish" day, with the S&P rising 62% of the time, FWIW.
Good luck!
There is always the chance that we could get a snap-back rally in the markets, but I just don't know how much strength or stamina it would have.
Tomorrow is considered a historically "Bullish" day, with the S&P rising 62% of the time, FWIW.
Good luck!
pmaloney
Member
I really liked Jim Cramer's comments about the decline of copper. The Chinese have finally figured out that building Ghost Cities without a more comprehensive plan is expensive and pointless and we only use less than 5% wiring a house so it is just a commodity and it is going down with Oil. Oil and Copper decreases are not related in my opinion but maybe DOD could publish documents on plans for super conducting copper air craft, carriers and destroyers to produce invisible war craft protected by electro magnetic repulsive rays and then we could see a big increase in the price of copper when they steal the plans. 
Oil is a more complex war that we could win with resolve by ensuring that our American and Canadian assets are protected and assured.
I thought it was really interesting that Oil rose at the end of the day as well as Oil stocks like SLB, HAL, APC etc.
I think the Saudis realize that we have been better allies than others with the exception of the present administration and because of that we might be surprised that they could really bring the price of Oil to $20 instead of $40 however we have the capability to produce as much as we want without loss much loss at $40 and as much as we need should the need arise.
On the other hand I remember a really nasty left hook last January 21th or so followed by an upper cut that KO'd me for a few months. That was due to foreign junk too like Europe and Greece but that doesn't mean that it didn't hurt.
Tomorrow and the rest of the month will be interesting.
Good luck!
Oil is a more complex war that we could win with resolve by ensuring that our American and Canadian assets are protected and assured.
I thought it was really interesting that Oil rose at the end of the day as well as Oil stocks like SLB, HAL, APC etc.
I think the Saudis realize that we have been better allies than others with the exception of the present administration and because of that we might be surprised that they could really bring the price of Oil to $20 instead of $40 however we have the capability to produce as much as we want without loss much loss at $40 and as much as we need should the need arise.
On the other hand I remember a really nasty left hook last January 21th or so followed by an upper cut that KO'd me for a few months. That was due to foreign junk too like Europe and Greece but that doesn't mean that it didn't hurt.
Tomorrow and the rest of the month will be interesting.
Good luck!
MrJohnRoss
Well-known member
I hope you don't mind, but I copied that post to the New / World Affairs Forum. http://www.tsptalk.com/mb/news-world-affairs/21859-great-wall-saudi-arabia.html#post485828
Just in case someone doesn't stop by your Account Talk thread (but who would skip it?
)
Just in case someone doesn't stop by your Account Talk thread (but who would skip it?
)
MrJohnRoss
Well-known member
I hope you don't mind, but I copied that post to the New / World Affairs Forum. http://www.tsptalk.com/mb/news-world-affairs/21859-great-wall-saudi-arabia.html#post485828
Just in case someone doesn't stop by your Account Talk thread (but who would skip it?
Mighty kind of you sir.
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