Show-me
Well-known member
TRAD:SSO @ $51.50 ROTH: SSO @ $51.80 I'm home today and will be right there to pick up any gains and limit any losses.
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Show-me Account Talk
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TRAD:SSO @ $51.50 ROTH: SSO @ $51.80 I'm home today and will be right there to pick up any gains and limit any losses.
Show-me
Well-known member
I feel we are on the precipice of a big move, I don't know which way. I just heard a old seasoned trader speak on CNBC and he hit a note with me. His comment was that they need to do something because folks are starting to really worry about deposits and a run on all bank may be coming sooner than we think.
Personal note, my mother is asking those question as of yesterday and is planning to take a 6% hit on a annuity because she is worried.
Personal note, my mother is asking those question as of yesterday and is planning to take a 6% hit on a annuity because she is worried.
ATCJeff
Well-known member
I feel we are on the precipice of a big move, I don't know which way. I just heard a old seasoned trader speak on CNBC and he hit a note with me. His comment was that they need to do something because folks are starting to really worry about deposits and a run on all bank may be coming sooner than we think.
Personal note, my mother is asking those question as of yesterday and is planning to take a 6% hit on a annuity because she is worried.
I agree. We could see a crash today!
Spaf
Honorary Hall of Fame Member
Personal note, my mother is asking those question as of yesterday and is planning to take a 6% hit on a annuity because she is worried.
Show-me,
Consider RETIREMENT
This decline has been gonin on for some time.
Stocks have lost value.
It takes more stocks to equal a monthly withdrawel.
The retired folks are losing their nest egg at a faster rate. Unless one was 100% in the G-fund for the past year.
This is a problem with using stocks in retirement, especially counting on them to be a major source of retirement income.
I don't know the answer, but I'd welcome any reply.
Rgds
Spaf
ATCJeff
Well-known member
T-Bills, CD's, and stocks. You can find some high interest rates CD's that are 100% safe. 1 and 3 month T-Bills are out. Too low of interest. Though longer term T-Bills are better. Again 100% safe. Stocks, stay away from finanicals. Staples have done well this summer.
Show-me
Well-known member
I will add that this is a fixed annuity through a subsidiary of Allstate.
I learned by my phone conversation with the Missouri State Department of Insurance that each state has a law requiring a private entity to used as a insurer for health plans, life insurance, annuities, etc. Each company pays a premium to that entity and percentage of all contract must be kept in reserve.
Problem is it is not backed by the State or Federal Gov. and in Missouri's case it is a non for profit company. If there is a run or a catastrophic failure, my thinking is there may not be enough funds to protect everyone.
Is that why the Feds jumped in to save AIG, to protected all of the thousands of citizens that have annuities and other plan with them. There could have been a huge run on all the "insurance agencies" just like the run on ABK and MBI when the mortgage's failed and they had to pay out the ass to cover those mortgage's and some people would possibly get nothing or best case pennies on the dollar.
I learned by my phone conversation with the Missouri State Department of Insurance that each state has a law requiring a private entity to used as a insurer for health plans, life insurance, annuities, etc. Each company pays a premium to that entity and percentage of all contract must be kept in reserve.
Problem is it is not backed by the State or Federal Gov. and in Missouri's case it is a non for profit company. If there is a run or a catastrophic failure, my thinking is there may not be enough funds to protect everyone.
Is that why the Feds jumped in to save AIG, to protected all of the thousands of citizens that have annuities and other plan with them. There could have been a huge run on all the "insurance agencies" just like the run on ABK and MBI when the mortgage's failed and they had to pay out the ass to cover those mortgage's and some people would possibly get nothing or best case pennies on the dollar.
Show-me
Well-known member
Said nothing.
XL-entLady
Well-known member
Well, that was a waste of good breathing air.
Your mother's dilemma is the exact reason that I didn't take a lump sum withdrawal from my TSP and put my money where I could move it at will, when I retired earlier this year. The TSP rules are restrictive and I hate them. But I knew that a rough patch was going to be coming sooner or later and I wanted my money to be as safe as I could figure out how to make it when that happened. So I left it where it was backed by "full faith and credit" etc.
Ya can't concentrate on gettin' more eggs if yer chickens are dyin'! :worried:
Lady
Birchtree
Well-known member
Honestly, this is just irrational panic and financial hype designed to save the cans of our less fortunate members of society that were striving to be like the Huxtables. They got in way too deep and are now rotating on the rototiller until they turn to toast. We can't apparently allow them to drown but what happened when Moses parted the sea?
Steadygain
TSP Elite
I think it's largely impatience....and dread of how Congress is going to act.
Now it appears a $350 Billion offering is on the plate with a built in guarantee of the rest as things prove to work out.
That's a far cry from the $700 Billion which should have provided more than enough power to move things forward.
In the long run I'll stay put as it's easier than trying to guess the timing and when things do "shoot up" I'll be ready.
Show-me
Well-known member
Aftermarket is popping and I sold the Roth shares for $54.15 and it is rising more. Thinking about selling Trad. too.
Show-me
Well-known member
I love my Scottrade account. Premarket and aftermarket is the bomb. Love it, love it, love it!!!
I did find out you can somewhat day trade your Roth account but the rules are very odd and strict. I will update after I read up on it some more. I had to call my broker to make sure I could pull off the trade and you have to watch the 3 day settlement rule also. You can not trade like a margin account but almost.
I did find out you can somewhat day trade your Roth account but the rules are very odd and strict. I will update after I read up on it some more. I had to call my broker to make sure I could pull off the trade and you have to watch the 3 day settlement rule also. You can not trade like a margin account but almost.
love-to-bike
Member
I love my Scottrade account. Premarket and aftermarket is the bomb. Love it, love it, love it!!!
I did find out you can somewhat day trade your Roth account but the rules are very odd and strict. I will update after I read up on it some more. I had to call my broker to make sure I could pull off the trade and you have to watch the 3 day settlement rule also. You can not trade like a margin account but almost.
Sounds good - I'd love to hear what you find out, as I'm sure others are.
BTW - how were the bees? How many hives do you have? And is this a hobby or a way to pick up some money on the side (or both)? Have you seen any decrease in your bee population over the years?
I went long 1 Nasdaq futures contract over the weekend - just in case. Something I rarely do (hold futures over the weekend). I figure... no deal, the Naz 100 might drop 1% or so. Deal announced, possibly plus 3%, 4% or even 5% open Sunday on night. Although I am worried that everyone is thinking the same thing and we get a "sell the news" reaction to announcement. Rolling the dice.
Show-me
Well-known member
Hobby now, I have 10 colonies and they look great. I had one colony struggle all year and they just produced another new queen. I do not hold much hope for them surviving the winter but I will help them build up this fall natural supplements.
It is hard to find a natural colony around here but I and a few others are changing that with our approach to natural beekeeping.
Birchtree
Well-known member
Cramer is on tonight talking gloom and doom - saying the banking system has been experiencing massive disintermediation all week and that the FDIC insurance shoukld be increased to keep money in the banks. I don't believe a word of his nonsense and am leaving my money right where it is - no fear here. The question now is do I have the courage to add to my WB (Wachovia) position now that it's down $4.94 to $8.76. You bet because I'm as dumb as wood.
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