Poolman's Account Talk

[poolman]

For anyone that was in yesterday, Congratulations. What a day. I didn't think the Feds where going to cut by .75
I think this surprised the market's and they took off. A positive day today would be very Bullish. It would be Confirmation for the Bulls.

From what I look at, I'm thinking of making a move in tomorrow. Initial claims come out tomorrow and I'm thinking they will look ugly. This may IMO be my only chance for an entry point. We do get Initial Claims also on the 24'th which will probably be shrugged off.

All of my thinking is subject to change.

 

[coolhand]

All of my thinking is subject to change.

LOL, yeah me too. :laugh:

 

[poolman]

LOL, yeah me too. :laugh:

This Month has been one of the craziest month's I have ever tried to trade with our new IFT limits. With the Fed's in the Mix to the degree that they are I never know what is going to happen.

If it looks like we are going to get a pull back today. I may put a toe in the water.

Subject to change. LOL... :laugh:

 

[Handballer]

I think I will "follow" you into G after Jan 1st and monitor to see what will happen after inauguration/bailouts/etc. There is alot going on - too much for me to gather!! I have been on the longterm train - but am testing the waters with controlling my own destiny some. I am learning SO much on this board, it's great. Your's is one of my fave threads, so, I'll continue to monitor your moves!! Thanks for your input...'preciate it.

I agree. His thread is one of the best, probably at the top of the list. And his savvy for timing is one to envy. But this market is keeping me on pins and needles.:blink:

 

[Frixxxx]

Hello HGL,

It really depends on your time Horizon. I think your allocations will be fine for the longer term outlook.

I personally am looking to Hit and Run. 1 to 5 day Horizon. I want to be back in G by Jan 2, 2009.

I do think we will test the lows in the next 3 months and that would be more of an intermediate term move.

I hope this helps. I'm a day to day Player. At least until I get a job.

I've been on the lilypad since July/August. I have watched the whole mess and will probably be out until March 09. I believe the retail numbers and GDP estimates the first of the year will crush the markets. As I've been steadily getting returns in the market from the "G" side of the house, I'm not worried.

I've got my fingers crossed for that job offer that's on the way, I just wish it could get to you sooner!!!!

Frixxxx

 

[poolman]

I've been on the lilypad since July/August. I have watched the whole mess and will probably be out until March 09. I believe the retail numbers and GDP estimates the first of the year will crush the markets. As I've been steadily getting returns in the market from the "G" side of the house, I'm not worried.

I've got my fingers crossed for that job offer that's on the way, I just wish it could get to you sooner!!!!

Frixxxx

Thanks Frixxxx,

For anyone who has sat on the Lilly Pad. Congratulations to those people too. The Market's are on the Crushing Board very soon. I'm in agreement with you. Let's not forget why the market's are going up. It's based on news right now. The Feds and Congress and the President are propping the markets with $$$. They are trying to avoid the Economy getting worse.

My next door neighbor Say's he is getting financing the 1'st of the year for a position in a meat distribution plant. I wouldn't start till late Jan though. This job requires lot's of testing. Stress test, Physical, **** test, Background check, etc etc...
Half the day I would be doing manual work and the other half paper work. Pretty good start pay $22.00/HR with excellent benefits.

The other half of me wants to start a Brokerage account with $20K and trade. I am planning on setting up a Brokerage account 1'st week of the new year. I don't know who with yet.

http://uk.youtube.com/watch?v=zrdS7A8YeCs

 

[Frixxxx]

My next door neighbor Say's he is getting financing the 1'st of the year for a position in a meat distribution plant. I wouldn't start till late Jan though. This job requires lot's of testing. Stress test, Physical, **** test, Background check, etc etc...
Half the day I would be doing manual work and the other half paper work. Pretty good start pay $22.00/HR with excellent benefits.

The other half of me wants to start a Brokerage account with $20K and trade. I am planning on setting up a Brokerage account 1'st week of the new year. I don't know who with yet.

Good luck with the job, I hope he's not yanking your chain...I mean really, who's funding who nowadays.

As far as a brokerage account, stay away from anyone associated with Madoff:laugh:
Even though that really isn't funny
http://biz.yahoo.com/ap/081217/madoff_scandal.html

 

[poolman]

I don't know if this has been posted.

http://uk.youtube.com/watch?v=gGP1vPhyMDo

 

[fedgolfer]

Poolman,

if your brokerage account is less than $26,000 (I think that's the amount), than you are subject to a day-trading restriction. No more than 3 day trades in 5 trading days. As long as your account stays above that mark, you can trade the sh*t out of it. Just something to think about because you don't want to be left holding the bag while being handcuffed on that 3rd trade.

Best of luck. More importantly, hope you find the job of your dreams as soon as possilble.

FG

 

[poolman]

Poolman,

if your brokerage account is less than $26,000 (I think that's the amount), than you are subject to a day-trading restriction. No more than 3 day trades in 5 trading days. As long as your account stays above that mark, you can trade the sh*t out of it. Just something to think about because you don't want to be left holding the bag while being handcuffed on that 3rd trade.

Best of luck. More importantly, hope you find the job of your dreams as soon as possilble.

FG

Thanks fedgolfer, I didn't know that. Message noted.

 

[fedgolfer]

... i just googled it and it's $25k for margin enabled accounts. Also buying the 2x ETFs on margin gets you 4x leverage... that can move an account fast and make you do stupid things. I know... unfortunately

 

[RonUSPSretired]

Any thoughts re: putting a toe back in. I'm thinking about putting a 30% spread back in, but am not sure if I should do it today or Thur to be in on Fri. This would be my last IFT.

This Month has been one of the craziest month's I have ever tried to trade with our new IFT limits. With the Fed's in the Mix to the degree that they are I never know what is going to happen.

If it looks like we are going to get a pull back today. I may put a toe in the water.

Subject to change. LOL... :laugh:

 

[poolman]

I moved in today.

70% - G

30% - C

 

[poolman]

From what I look at, I'm thinking of making a move in tomorrow. Initial claims come out tomorrow and I'm thinking they will look ugly. This may IMO be my only chance for an entry point. We do get Initial Claims also on the 24'th which will probably be shrugged off.

I like where the market ended today. I'm sure that some of the Initial Job Claims that come out tomorrow where priced into today's close.

 

[Gumby]

... i just googled it and it's $25k for margin enabled accounts. Also buying the 2x ETFs on margin gets you 4x leverage... that can move an account fast and make you do stupid things. I know... unfortunately

Twice the pain and twice the gain. Scottrade allows you to make multiple trades daily with the Margin account.:laugh:

 

[poolman]

As far as a brokerage account, stay away from anyone associated with Madoff:laugh:
Even though that really isn't funny
http://biz.yahoo.com/ap/081217/madoff_scandal.html

Hello Frixxxx,

I have thought about this throughout the day. This Madoff thing is very serious. I will hold off on a brokerage account for a bit.

Thanks...

 

[wv-girl]

Hello Frixxxx,

I have thought about this throughout the day. This Madoff thing is very serious. I will hold off on a brokerage account for a bit.

Thanks...

I have heard that Madoffs monthly statements did not even have account numbers on them. Just your name and amt of $. What were these people thinking???

If you open an account -- make sure it is sipc insured. It is similar to FDIC but has different criteria, but does offer protection against fraud. Something to consider.

 

[poolman]

I have heard that Madoffs monthly statements did not even have account numbers on them. Just your name and amt of $. What were these people thinking???

If you open an account -- make sure it is sipc insured. It is similar to FDIC but has different criteria, but does offer protection against fraud. Something to consider.

Thanks wv-girl, I noted this sipc insured also.

 

[poolman]

http://www.dailymarkets.com/videos/2008/12/09/video-henderson-santa-claus-rally-soon/

http://www.highgrowthstock.com/IanBlog/?p=731

 

[fedgolfer]

... i hear a lot of chatter on expirations tomorrow. Expecting huge increase in volatility. Cashen thinks this will set up a buying up for a Santa rall next week.