southbeachrat's Account Talk

[Tomncath]

I have to agree with that. Got my letter yesterday for being a bad boy...guess how many moves I made last year. THIRTEEN! Five in one month must have been the kicker

 

[Show-me]

I have to agree with that. Got my letter yesterday for being a bad boy...guess how many moves I made last year. THIRTEEN! Five in one month must have been the kicker

That tells me they are reaching for as many people as they can even on the fringes so that they can make a case.

 

[RAE]

I have to agree with that. Got my letter yesterday for being a bad boy...guess how many moves I made last year. THIRTEEN! Five in one month must have been the kicker

This is interesting. 13 trades per year and you get a letter?? James and Show-me - I would think that we could use examples like this to show that FRTIB has gone way overboard with this. They never did define what a so-called "frequent trader" is (which they have to do to actually implement this proposal), but this clearly shows they are going after people that are hardly frequent traders, by anyone's definition. This is nuts. James - if you are still planning that trip to D.C., this is the kind of example that I would think would get the attention of Congress and hopefully the Union reps as well. 13 measly trades in one year and they are trying to cut you off??...........give me a break.

 

[nnuut]

Another thing, it seems to me that they added another restriction when they drafted the letter. Now it says 3 trades wiithin a Month or 30 DAYS, this means you can violate the limit by having three trades at the end of the month and trades at the first of the next month, maybe this isn't what they ment, but within a thirty day period means just that to me. What the heck?

 

[Tomncath]

Well, I can provide the proof if it appears it will be helpful....

 

[southbeachrat]

OK, I'm glad that's over with. My plan is intact. I expected a .50 cut and a Fed cut rally. I just didn't expect it to last for 45 minutes..... I would have hoped until at least Friday.

So where do we go from here? I can't jump in and out anymore. I can't sit aggressively in stocks. I don't want to be on the sidelines completely. So I will stay pat 75% G, 15% C, 10% I at least until Friday. My focus will continue to be on the earnings reports. They are not much to be encouraged by so far, but not too bad yet. GOOG reports tomorrow will be my deciding factor. Don't ask me why..I just see GOOG as a bellweather for the market right now. I will IFT on Friday depending on which way the wind blows.

I'm not very optimistic at the moment. My decision will be without emotion and based on the best information I have at that time. If I were a gambling man ( heh heh heh), I would be taking odds on being on the sidelines by early next week. Guess I will have to depend on my brokerage account for some short action. No limits on the number of monthly trades there.

 

[southbeachrat]

I'm feeling confident that GOOG earnings will be positive and want to position my TSP for the start of Feb. I am 50% G, 20% C, 15% S, 15% I. I expect to remain 50% invested until something changes. Still lots of volatility and it makes me a little uneasy. The TSP limits keep me more of a buy and holder as much as I hate it.

 

[Birchtree]

You don't really have to be a buy and holder - you have the option of mailing your IFTs. You know you can fully trust the TSP clerks to move with the utmost speed and deliverance.

 

[Guest2]

If I'm 100% I-Fund starting 2/1/08 and decide to move my money to safety, (lets say 100% G-Fund) does that count against my IFT limit?

 

[southbeachrat]

As I understand it , that move will leave you with one more- then 1 last IFT would be allowed to the G fund only. Anyone else know?

 

[Guest2]

As I understand it , that move will leave you with one more- then 1 last IFT would be allowed to the G fund only. Anyone else know?

Thanks South, I'll probably call the Thriftline and ask. However, they
probably won't know the answer either, " they know nothing ". (LoL)
Thanks Again For Your Quick Response

 

[southbeachrat]

MSFT making a bid on YHOO. That may be devastating news for the shorts. If the jobs report is good today and combined with that news, we could be in for a pretty good rally today.

 

[southbeachrat]

What to do??... Kudlow sez Goldilocks lives! Cramer is foaming at the mouth (as usual), and the market is in no-man's land. I'm Jonesing for some action. Can't do my daily IFT. SOoooo... I come home from work today ....shoot off a discretionary trade in the E-minis futures and proceeded to get my butt kicked in the wrong direction. (at least I kept it to 1 contract!)

Oh well, but I do feel better.. Thanks for listening. There's always tomorrow..

I've decided to ignore the stupid TSP board and will be IFT'ing as needed until the TSP police show up at my door. Nothing like a little civil disobedience to make me feel better..... and my friends at TSP TALK.

Still 50% G, 20% C, 15% S, 15% I. The I fund is looking good for tomorrow.

Sure wish I thought of this before noon today.

 

[Birchtree]

See my post #2632 and see if you qualify.

 

[southbeachrat]

See my post #2632 and see if you qualify.

Those guys are way out of my league Birch. I never trade more than 2 futures contracts. Options have always been like black magic to me, maybe someday, (when I retire and have lots of time) I will be able to study and pursue the art of options trading..