Corepuncher
Well-known member
Man, I know how you feel!!! I'm taking a much more conservative approach this time around. I got burnt severely when I bought in early October (ouch). Now waiting for a test of 850ish to buy in 50%.
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Show-me Account Talk
- Thread starter Show-me
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Man, I know how you feel!!! I'm taking a much more conservative approach this time around. I got burnt severely when I bought in early October (ouch). Now waiting for a test of 850ish to buy in 50%.
robo
Well-known member
I wanted to wait until next week, but pulled the trigger early today. My thinking was down side risk was about the mid 800's also and we just might hit that tomorrow. With this bulllshit two moves and making a decision 4 hours before the close it sucks. I had no idea we would close down this low 4 hours ago.... It's a crap shoot now. Looks like my 900 support level might hold for today. We have bounced off it a few times in just the last few minutes.
Take Care!
Corepuncher
Well-known member
Tomorrow very well could be a modest up day, IF job losses come in "as" expected (-200K). If we go south of -250K, I believe we'll hit that 850 level....and...there could be follow-through into Monday.
Even if we do have relatively "tame" jobs numbers...and we end up rallying late in the day, I will predict a sharp last minute sell-off.
robo
Well-known member
October is over and this is how my accounts feel.
Bought some more UYG yesterday @ 9.15 a share.... Big mistake - since it's @ 8.01 a share at the close. Not using stops any more since they take them out in about 10 minutes in this market. Down 15% today on that trade already. Fib gave me a buy signal on Financials and Banks a few days ago - I wonder if I'll get a sell signal today... Ha, I'll let ya know his decision.... Not that we are going to sell now anyway....
Take Care!
Show-me
Well-known member
LOL, you see on my sig where my last buy was at. Feed me doubles until Jan. 1 so I feel no pain.
robo
Well-known member
I can't wait to read the updates from my paid services the next few days.
"We are very oversold and I'm expecting a rally soon." You think! Hang in there - It's been tough on us all.... NO SHiiiiT.... I'm still playing by Bear Market rules and will sell any double digit rally again that takes us back too overbought. The next rally will get me positive again, but do we need to test the lows again first. I liked the action and bounce off the 900 level today.
We shall see tomorrow!
The crooks are making the money running this thing up and down taking out retail investors stops all day long...
I'll be looking to see if Fib goes back to a sell signal tonight. Most of the guys I follow are still on buy signals and calling this a bottoming process. Well, thats very nice - but I'll keep selling rallies and playing by bear market rules for now.
Take Care!
ATCJeff
Well-known member
Did you steal my playbook? I think your reaching to say that the jobs number will be around 200K. I'm looking for ~275K and a revision downward on previous months. Also, we could have a late sell-off as no one wants to carry positions over the weekend.
If we break 850 by the noon cut-off, I will probably jump back in. It's a tough call.
Minnow
Well-known member
Lest we forget... the new president-elect will be speaking at approximately 3:00pm eastern time. --- Please this wasn't a political statement just stating a fact.
Plenty of government officials have been parading in front of the microphones today looking like they just saw a ghost and trying to sound like they want to cushion the blow of the jobs number.
Jobs number comes out... speech at 3:00pm... I just don't trust it. I'll keep my eye on the bond and currency markets --- too much noise right now.
Plenty of government officials have been parading in front of the microphones today looking like they just saw a ghost and trying to sound like they want to cushion the blow of the jobs number.
Jobs number comes out... speech at 3:00pm... I just don't trust it. I'll keep my eye on the bond and currency markets --- too much noise right now.
Gumby
Active member
Jeff,
I think your senario may play out. I still have both IFT bullets for November. I will go 50% C if S&P hits 860 by noon EST.
I think the jobs number is going to be HUGE. Also, GM & Ford whining to Nancy Polosi today may help move the market done tomorrow. When will the handouts end.
Birchtree
Well-known member
Even sweet Nancy wants to grant an across the board tax cut for 2009 - watch for Obama to guide. I'd go for a 0% capital gains tax for this year and next. And inorder to reestablish investor confidence throw in a 0% tax on reinvested dividends for this year and next. That should help restore some gains to all those 401K wipe outs and help the union members.
turbo23dog
Member
Please explain; have no idea what you just said...
robo
Well-known member
turbo23dog,
It was a message for Show-me about my UYG position. ( Financials ) A paid service that recommended XLF early this week got stopped out today. He lost money and sold the position.
We have both lost money, but we are holding our positions. Buy and hope - pray I mean!
I have over 4000 shares of UYG...
Silverbird
Well-known member
Track the Employment numbers rather than Unemployment. That way adds the bonus of being able to track by industry (I imagine financial services isn't singing happy happy joy joy) -- I'm not going to do it as I don't have time to track beyond the industry that I cover for my job....but from what I can tell the overall trend is UGLY.
Steadygain
TSP Elite
Thanks guys (general term)
As Joe Friday use to say: "Just give me the facts" and we can easily draw the picture from that.
I believe we are all going to be forced into a different mentality of longer term trends - which will over ride - our obsession of finding 1 or 2 day rallies.
I can tell you from my perspective things are a whole lot easier in the G Fund when in a BEAR MARKET and with the expectations of things getting worse.
GL everyone
As Joe Friday use to say: "Just give me the facts" and we can easily draw the picture from that.
I believe we are all going to be forced into a different mentality of longer term trends - which will over ride - our obsession of finding 1 or 2 day rallies.
I can tell you from my perspective things are a whole lot easier in the G Fund when in a BEAR MARKET and with the expectations of things getting worse.
GL everyone
turbo23dog
Member
Robo,
Got it. I see the issue....GL...
Rich
Got it. I see the issue....GL...
Rich
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