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Show-me Account Talk
- Thread starter Show-me
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Show-me
Well-known member
Well I changed my game plan a little today to cash out some profits. We have a run up against the 200 dma and I would expect a little pull back in the near future. We can not go straight up or straight down. The market seemed to take the Bernanke follow up to Don Kohn's comments in stride and that concerns me some. Of course the 200 dma is a mighty strong resistance point.
Economic Data sucks and that makes it easier for the Fed to make a cut. As our friend Robo said at least a month ago, the focus is not on inflation any more. The economy as a whole is the focus now and the subprime BS is what is being blamed for the weakness and weak consumer confidence.
On a side note be careful what you say on a open source message board. Big Brother is always watching were there is action.
Please, please, please, make the calls or emails to the folks on the ETAC. The are the first line in our defense of no limits on interfund transfers. It is your money and your retirement and if they do not come to a acceptable compromise use the brokerage accounts I mentioned and just go for the 5% matching funds.
We are active traders not day traders. Make that distinction with opponents. We make educated decisions to maximize our retirement account and if the majority want to sit on their laurels and do nothing, that is fine with me. Just do not limit me from trying my very hardest to make the most money I can.
We study charts, use indicators, identify trends, read economic reports, follow earnings data, listen when the Fed speaks, follow international as well as domestic monetary policy, and use the opinions of many successful professional market traders to make our decisions. To make the statement we are "gambling" or using the TSP as a "casino" is just incorrect. We are learning and we are successful. Do not let them take our tools to a better retirement away.
Economic Data sucks and that makes it easier for the Fed to make a cut. As our friend Robo said at least a month ago, the focus is not on inflation any more. The economy as a whole is the focus now and the subprime BS is what is being blamed for the weakness and weak consumer confidence.
On a side note be careful what you say on a open source message board. Big Brother is always watching were there is action.
Please, please, please, make the calls or emails to the folks on the ETAC. The are the first line in our defense of no limits on interfund transfers. It is your money and your retirement and if they do not come to a acceptable compromise use the brokerage accounts I mentioned and just go for the 5% matching funds.
We are active traders not day traders. Make that distinction with opponents. We make educated decisions to maximize our retirement account and if the majority want to sit on their laurels and do nothing, that is fine with me. Just do not limit me from trying my very hardest to make the most money I can.
We study charts, use indicators, identify trends, read economic reports, follow earnings data, listen when the Fed speaks, follow international as well as domestic monetary policy, and use the opinions of many successful professional market traders to make our decisions. To make the statement we are "gambling" or using the TSP as a "casino" is just incorrect. We are learning and we are successful. Do not let them take our tools to a better retirement away.
ayla
Member
Show-me --
I can't seem to find the list of members of the ETAC board. Can you post those names again? Possibly add them to the sticky you set up for "contacts(no chat)" under TSPnews?
Also, I started calling some of the list of contacts. I thought it was going to be a problem that I'm not a current paid up member but I was hoping that they would still be interested. Well,.. the first thing they ask is whether you are a member. Makes sense. Just wanted to advise others to call only those orgs they have a financial affiliation with.
(Of course there is the congressmen which I have contacted.)
Also, the person I talked to at my senators office said that I would be most effective sending email. Phone calls don't seem to have all the details they need. Guess with the ETAC, they know all the details but still, I'm going to try to find out email addresses if at all possible (I realize this may be impossible.).
I can't seem to find the list of members of the ETAC board. Can you post those names again? Possibly add them to the sticky you set up for "contacts(no chat)" under TSPnews?
Also, I started calling some of the list of contacts. I thought it was going to be a problem that I'm not a current paid up member but I was hoping that they would still be interested. Well,.. the first thing they ask is whether you are a member. Makes sense. Just wanted to advise others to call only those orgs they have a financial affiliation with.
(Of course there is the congressmen which I have contacted.)
Also, the person I talked to at my senators office said that I would be most effective sending email. Phone calls don't seem to have all the details they need. Guess with the ETAC, they know all the details but still, I'm going to try to find out email addresses if at all possible (I realize this may be impossible.).
Show-me
Well-known member
Yes, I was there for a while then got bumped some how. I would leave a message and not give a name or affiliation any ways. James is trying to have a fact sheet put together by Sunday or so and I will be working on it this weekend too. I will bump the contact list up now.
ayla
Member
Okay, now I think I understand. That list of contacts IS the ETAC board. I thought that was a list of relevant contacts that might have some influence with the Thrift Savings Board, i.e they could pull some strings.
But you are saying they are actually all connected as a board distinct from their other labor positions. I didn't know that. I called the AFGE and they asked me if I was a paid up member and I was not. I guess I should have said I was calling them with regard to their connection with ETAC, not with regard to their connection with AFGE.
If that isn't right, please let me know, since I plan to try again.
But you are saying they are actually all connected as a board distinct from their other labor positions. I didn't know that. I called the AFGE and they asked me if I was a paid up member and I was not. I guess I should have said I was calling them with regard to their connection with ETAC, not with regard to their connection with AFGE.
If that isn't right, please let me know, since I plan to try again.
Show-me
Well-known member
Yes, tell them you are a Thrift Savings Plan Participant, which is a Federal employee's version of 401K, and Mr./Mrs. is on the Employee Thrift Advisory Council. This in not a Union matter but a ETAC matter.
These offices are not Federal and the receptionist probably do not even know what a TSP is. I had to explain it to one receptionist myself.
Show-me
Well-known member
Zecco is my new friend.
Uh oh, look what someone posted on the MB. Thank you!!!
http://www.zecco.com/trading/ZeccoIRA.aspx
Ten free trades each month with a minimum of $2,500 net equity.
Let's see, can I take a TSP loan and put it in my new Zecco Traditional IRA account? Yes.
Would I get the income tax break even though the loan payments would be taxed? Yes, as long as I do not exceed the $15,500 IRS limits. I'm not that well paid.
Options, there are always options!!!
Uh oh, look what someone posted on the MB. Thank you!!!
http://www.zecco.com/trading/ZeccoIRA.aspx
Ten free trades each month with a minimum of $2,500 net equity.
Let's see, can I take a TSP loan and put it in my new Zecco Traditional IRA account? Yes.
Would I get the income tax break even though the loan payments would be taxed? Yes, as long as I do not exceed the $15,500 IRS limits. I'm not that well paid.
Options, there are always options!!!
FUTURESTRADER
Active member
Re: Zecco is my new friend.
yes there are...$5,000 account in an IRA...3.5%/month after commission
yes there are...$5,000 account in an IRA...3.5%/month after commission
Show-me
Well-known member
Re: Zecco is my new friend.
That's what I'm talk'n about!!!! You need to put me on you e-mail list.
yes there are...$5,000 account in an IRA...3.5%/month after commission
That's what I'm talk'n about!!!! You need to put me on you e-mail list.
Show-me
Well-known member
http://mrwavetheory.blogspot.com/2006/10/zecco-not-entirely-free-lots-of-hidden.html
Thanks Ayla! No free lunch.
Thanks Ayla! No free lunch.
Re: Zecco is my new friend.
Show-me and you are developing this story. Can you please differentiate between the service offered by Scottrade and this service? Thank you!
yes there are...$5,000 account in an IRA...3.5%/month after commission
Show-me and you are developing this story. Can you please differentiate between the service offered by Scottrade and this service? Thank you!
wv-girl
Member
OT here in this thread but I was just reading some of the comments from the Letters thread to voice our opinions against the trading restrictions. Question... isn't a three day hold standard for all stock trades? It shouldn't be used as an excuse by TSP as to rising costs. Methinks Barclays is trying to grab our attention on the wrong issues. Yes, they are making outreagous(sp) FV's, but I still think that they are doing that to cover up their mistakes by trading at different times during the day and getting caught in the markets up and down swings. They say they only trade at certain times but I don't believe that. Anyone else think this way?
Debbie
Debbie
wv-girl
Member
Question... isn't a three day hold standard for all stock trades? It shouldn't be used as an excuse by TSP as to rising costs. Methinks Barclays is trying to grab our attention on the wrong issues. Yes, they are making outreagous(sp) FV's, but I still think that they are doing that to cover up their mistakes by trading at different times during the day and getting caught in the markets up and down swings. They say they only trade at certain times but I don't believe that. Anyone else think this way?
Debbie
Debbie
Last edited:
Show-me
Well-known member
This contract is odd IMO. The three day to settle fund is a industry standard. When I sell a position of stock in my Scottrade account those fund are not available for trading until the three days to settle have passed. There is a window on my Homepage for Scottrade that sez funds available for trade.
Now with the contract that TSP has with BGI all trades are to be processed that day and in order for BGI to do that, they have to by futures contract in hopes to cover any other trades we may do before the three days pass or they try to make a buck trading the futures contracts.
This is very odd and I can't seem to get off of the subject. Kind of a gut thing.
They are defiantly getting caught on the opposite side of the swings. Say you and a bunch of others have a great day and sell all I Fund and get a big positive FV of 25 cents. BGI has to settle that trade that day with you, but has to wait for the market to open overseas to sell those shares of I fund components. So they are in the hole to us for 25 cents a share until they can sell on the OSM.
Now let's say the market gets some bad new and the OSM sells off before BGI sells their shares. Now they are in the hole 25 cents plus what ever price they got after the market sells off. It could be huge for one day.
Show-me
Well-known member
Here is a draft I plan to send out in the morning. Please tell me what you think I need to improve it as well as grammar, punctuation, and the whole nine yards. TIA
The FRTIB is planning on impose interfund transfer restrictions without consent from the participants or the ETAC. These restrictions are in opposition of the Code of Federal Regulation guide lines. They are listed at the end of this brief. As my advocate I want the FRTIB to rescind their decision to impose limits on TSP trades, including the decision to send threatening letters to selected TSP members.
Market impact and fair valuation are the underlying problems caused by the contractual requirement of Barclay Global Investment (BGI), by TSP. That requirement is to settle our trades by the end of each trading day and that it is reflected in the share price even though the standard for the market is that it takes 3 business days to settle trades.
I can only assume that the “trading cost” referenced in each FRTIB meeting minutes attachments were caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.
For example, trading cost of the I Fund Jan. to Sept. 2007 was $12,240,419. One month stands out more than all, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.
August as a whole was a very volatile month and I would venture to say that assuredly, more than just the “3000 frequent traders” made interfund transfers that month. This was a flight to safety after the negative sub prime mortgage news started to come out, and the Market appeared to be crashing.
The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.
The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI needs to be addressed more than the number of interfund transfers done by a fraction of participants.
Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This has diluted the I Funds returns also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because of the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period.
There are a number of solutions to solve these problems:
1. Use indices or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade only in the I Fund. Using the 3 day rule to settle trades..
1. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart D_Contribution Allocations and Interfund Transfer Requests Sec. 1601.32 Timing and posting dates.
(b) Limit. There is no limit on the number of contribution allocations or interfund transfer requests that may be made by a participant.
2. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart C_Redistributing Participants' Existing Account Balances (Interfund Transfers) Sec. 1601.22 Methods of requesting an interfund transfer.
(a) Participants may make an interfund transfer using the TSP Web site or the ThriftLine, or by completing and filing the appropriate paper TSP form with the TSP record keeper in accordance with the form's instructions. The following rules apply to an interfund transfer request:
The FRTIB is planning on impose interfund transfer restrictions without consent from the participants or the ETAC. These restrictions are in opposition of the Code of Federal Regulation guide lines. They are listed at the end of this brief. As my advocate I want the FRTIB to rescind their decision to impose limits on TSP trades, including the decision to send threatening letters to selected TSP members.
Market impact and fair valuation are the underlying problems caused by the contractual requirement of Barclay Global Investment (BGI), by TSP. That requirement is to settle our trades by the end of each trading day and that it is reflected in the share price even though the standard for the market is that it takes 3 business days to settle trades.
I can only assume that the “trading cost” referenced in each FRTIB meeting minutes attachments were caused by these unrealistic contractual requirements and mass flight to safety during very volatile months.
For example, trading cost of the I Fund Jan. to Sept. 2007 was $12,240,419. One month stands out more than all, August with $10,522,348 or 32.7 basis point in trading cost. Other months that stand out are February and April with $4,198,802 or 24.3 basis points and $1,489,043 or 11.8 basis points, respectively.
August as a whole was a very volatile month and I would venture to say that assuredly, more than just the “3000 frequent traders” made interfund transfers that month. This was a flight to safety after the negative sub prime mortgage news started to come out, and the Market appeared to be crashing.
The last week in February was also very volatile, erasing all gains for the entire month in a few days. April would seem to be an anomaly at this point as it was not as volatile as the other two months.
The two most volatile months had the largest “trading cost” and they exceed the YTD total. That would tell me that much more than the “3000” were trading those months and the fact is that the policies and contract for clearing our trades through BGI needs to be addressed more than the number of interfund transfers done by a fraction of participants.
Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This has diluted the I Funds returns also, so it is not JUST frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because of the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period.
There are a number of solutions to solve these problems:
1. Use indices or ETF’s that follow TSP fund exactly so that they easier to trade on the open market.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade only in the I Fund. Using the 3 day rule to settle trades..
1. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart D_Contribution Allocations and Interfund Transfer Requests Sec. 1601.32 Timing and posting dates.
(b) Limit. There is no limit on the number of contribution allocations or interfund transfer requests that may be made by a participant.
2. TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD PART 1601_PARTICIPANTS' CHOICES OF TSP FUNDS--Table of Contents Subpart C_Redistributing Participants' Existing Account Balances (Interfund Transfers) Sec. 1601.22 Methods of requesting an interfund transfer.
(a) Participants may make an interfund transfer using the TSP Web site or the ThriftLine, or by completing and filing the appropriate paper TSP form with the TSP record keeper in accordance with the form's instructions. The following rules apply to an interfund transfer request:
Last edited:
Show-me
Well-known member
Changed the last part a little.
Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This also has a diluting effect of the I fund return, so it is not just frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period. That coupled with the fact that the I fund is not a index fund, but a basket of stock that are bought and sold individually by BGI.
There are a number of solutions to solve these problems.
1. Switch to actual indices or ETF’s that follow TSP fund exactly so that they are easier to trade on the open market. They are available and would greatly reduce expenses and make sales much more efficient.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade in the I Fund only using the 3 day rule for trades to settle.
Large moves when the market is volatile causes BGI to delay complete payment of those large trades. This also has a diluting effect of the I fund return, so it is not just frequent trading of the I fund, but the shell game that BGI has to play by buying futures contracts because the contractual requirements to settle IFT daily even thought they are restricted to a 3 day settlement period. That coupled with the fact that the I fund is not a index fund, but a basket of stock that are bought and sold individually by BGI.
There are a number of solutions to solve these problems.
1. Switch to actual indices or ETF’s that follow TSP fund exactly so that they are easier to trade on the open market. They are available and would greatly reduce expenses and make sales much more efficient.
2. Stop fair valuation by posting share prices the morning of the following day.
3. Limit trade in the I Fund only using the 3 day rule for trades to settle.
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