Poolman's Account Talk

[Nordic]

I decided to exit equities today and move everything back to the G-Fund. I still have another IFT if I decide to move back in. My tolerance level had been reached and it got reached faster than I'm comfortable with. I lost all my gains for the year in a matter of two weeks. Unfortunately I also don't think we have seen the end of this decline. The fundamentals of the US economy look very weak imo. I think we will really see some bad things come October/November that is when all these job losses are going to show up.

The 4000 FAA people out of work right now you can bet are affecting another 100,000 jobs. If we get another QE3 I think it will be around another 2 to 3 hundred billion injected and that is going to be a spit in the wind compared to the QE2 injection of 600,000 billion which helped job growth to the tune of about 3 percent. I would be surprised if we have job growth of even 1 percent right now.

Anyway I hope I get out on a little upswing today but who knows what the last half hour the stock market will bring to us. Yesterday at the very end of the stock market session we lost over 1 hundred Dow points in 1 minute. That is Scary.

Good Luck to All !

Sucks to bail with such steep losses, but I was thinking about the same thing. I was going to bail last Friday, but changed my mind at the last minute...that'll teach me to think. I'm basically in a "10% loss is better than a 20% loss" mindset at this point. World o' hurt.

 

[JTH]

Agreed, having that second IFT to jump back in certainly makes things a bit easier.

[h=2]Macke: Sell until you can sleep[/h]"In emotional markets, it’s often best to take a step back and view the situation as dispassionately as possible. For some, that means a stiff drink. For others, it’s a long walk or time with the kids. For me, the best way to remove the emotion of the market is by drawing pictures with a purple crayon. It’s a habit that works out particularly well for me since I can actually call coloring “work.”

 

[poolman]

 

[Fireant]

Pool I am too late to the BAIL party... will probably tomorrow... going to be an ugly year and I am pissed I was too greedy when I was up 10% and didn't exit to the sidelines... anyways best of luck... DA FIREANT

 

[poolman]

Hey Fireant,

Thanks for stopping by. You are not the only one that is late to getting out of equities. I did it myself by not getting out when I was positive 11 percent at one point. I rode it down 14 percent from that level to where I now sit at -3 percent. I don't know how much further we drop from here. All I know is the fundamentals for many different Buisness entities is very weak. And with the credit rating drop being the first drop on record that is not going to be forgotten so quickly as many things are.

 

[poolman]

 

[poolman]

Well I ordered my new Medal Detector tonight and I hope I get very interested in medal detecting. It sure does seem like a great time to own one with the prices of silver and gold. Gold hit another high today $1805.00

 

[jpcavin]

"Metal"
My contribution for the day.

 

[Bquat]

"Metal"
My contribution for the day.

No, he's going for the gold and silver stars.

 

[jpcavin]

No, he's going for the gold and silver stars.

Hope it's setup to ignore the bronze ones!

 

[poolman]

Hey Jpcavin,

Actually the dicrimination settings on this machine I got have awesome reviews. For anyone interested I purchased the Minelab Safari detector. Minelab makes some very awesome detectors. They have been in this buisness for the last 50 years. The Military buy's all there detector type equipment from Minelab.

I'm pretty excited about getting this unit. As some of you might know I'm leaving for vacation in less than two weeks. I'm once again going to Emeral Isle NC. I'm going to have fun using this on the beach. I hope to find some good stuff.

http://www.metaldetector.cc/index.asp?PageAction=VIEWPROD&ProdID=881

 

[poolman]

 

[poolman]

 

[poolman]

 

[poolman]

 

[poolman]

 

[poolman]

 

[Nordic]

Hey poolman, looks like you're chillin on the sidelines for a bit, good call. Any thoughts on an entry point back into equities?

 

[poolman]

Hey poolman, looks like you're chillin on the sidelines for a bit, good call. Any thoughts on an entry point back into equities?

Hi Nordic,

There are to many variables involved that could interest me to make a move on any given day. I have not seen or felt that feeling for awhile. I will say that if I where to move back into equities that I doubt I would remain in them for very long.

The fundamentals not only in the U.S. but for many different countries do not look good and therefore are probably still overpriced. Stock's to me do not look cheap. They are only worth but a buyer will pay for them. Selling intensifies selling and the same can be said for Buying.

I don't think investors have really started running for cover yet. We will know it when it happens and I think we have a ways to go still.

I'm looking for that Big panic day that shows itself before the 12:00 Noon IFT Cutoff time. The one where the Dow is down 5 or 6 hundred and it's 11:45 am. That will be the day I go all in and hope the next day or two we get a nice rally to sell into.

Job's number's are going to look worse and worse starting with the October numbers. That when the Shat is really going to Hit the Fan.

 

[Fireant]

Poolman I agree with you in that stocks are not cheap, the downside risk is real and a possible retest of 666 might be in the works... I'm not sure where the ta believes the real bottom is but opportunities like this don't come along very often and I hope to be in cash and get close to catching near the bottom... a number of factors are coming together at once and the us consumer is going to hibernate until they feel better about jobs, themselves and the economy... the Fed has thrown enough money in the system and we are no better... Europe's banks are messy and the countries extravagant spending has left their economies and financial situations dire... we need to take the medicine now that we forced upon us for our stupid and foolhardy ways... it will be ugly and it needs to be cleansing and then maybe an opportunity will exist... DA FIREANT