Saturday, October 11, 2008

Double Feature: Don't Mess with my 401K

     

14 comments:

cl said...

gonna be another crazy week with dismal earnings and economic data...are stocks "really" cheap right now is the question.....

I think the Oil Services sector (OIH) has been unjustly pounded...Oil companies will continue to drill and require services but the forecast for lower oil will drag the sector down with it...prime for a good pop once the black tea stabilizes..

anyhow, we can expect another crazy week ahead...good luck

jd said...

I'm still OUT. You can get whip-sawed no matter how you play.

Sure if you guess right you can make a lot of money but fundamentals are now out the window.

I'm sticking with alternative asset investments (that will always be worth something decent)

cl said...

when I starting trading/investing I thought it was all about fundamentals. The problem with being an individual investor and focusing on fundamentals is that we are at a disadvantage. Major firms who budget for getting dibs on info, I believe, know in advance, and things like volume, acc/dis, and trendlines can used as warning signs for whats ahead and THEN the price reflects the books. TA is all good but the gap-down is the reason I may never trade straight equities again...you're fucked if you're on the ass end of a 30% drop, and this year alone has seen many

jd said...

It's a casino, the big guys know whats coming through insider info. Fundamentals, in the end, typically win out. Not when the government nationalizes everything though. Which is why I made those comments.

jd said...

Fundamentals did win though so far, fundamentals of the US economy sucked for years, what we're seeing now was inevitable.

I called DOW 8000 about 2 months ago.

jd said...

US stocks are still over-valued compared with stocks in other countries.

I'd rather be buying China, Japan, Switzerland etc.

Instead I am investing in my business for tax relief and assets I can maintain some control over. This is the best move for me personally. If you have disposable income and you want to gamble then have fun, it IS fun. :-) I am being conservative right now though.

cl said...

this is a trader's market...I cashed out my 401k 2 months ago, knowing this shit was gonna get ugly....I don't believe in watching gains get washed away...better me pay 10% penalty than lose 50% value...

cl said...

you're right it is a fuckin blast...wouldn't gamble "diaper" money on it, but if I can stand to lose a few grand without jumpin off a building its a good time....

cl said...

"cool" link

ETF heatmap, let's you see what's "hot"

http://screening.nasdaq.com/heatmaps/Heatmap_ETF.asp

cl said...

jd, you're holding physical gold...stockpiling? until the price rises then you sell it on ebay??

what happens if it drops to $500 an ounce you gotta sit on the shit till it goes back up???

doesn't sound very liquid lol

cl said...

Gov't eyes plan to take ownership stakes in banks
Sunday October 12, 5:58 pm ET
By Harry Dunphy and Tom Raum, Associated Press Writers
Bush administration weighs plan for government to take temporary ownership stakes in banks


WASHINGTON (AP) -- Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis. With a new trading week dawning, U.S. lawmakers urged quick action by the Bush administration on measures to make direct purchases of bank stock to help unlock lending.

I am hopeful that tomorrow, the Treasury will announce that they're doing it. And they have to do it quickly ... markets are waiting," Schumer, D-N.Y., said

cl said...

Dow futures are up 300 points right now

POP at the BUZZER!!!

..ain't saying it'll be that way all day, but who can really call anything longer than 5 minutes in this market

jd said...

Things are too out of whack to worry about gold falling to $500/oz any time soon, a new wave of inflation is coming worldwide. worldwide demand for gold is ten times what it is normally. fundamentals on gold are strong, I care not what the day to day price is... I do intend to sell it at 1200-1500 though. Right now traders are betting on 1200/oz by year end taking a look at call options.

cl said...

I love this shit... gonna be another wild week!!!!