If people's credit cards are in default do you think they can use the said card Mr. Eternal optimism?
Load up on Visa and Mastercard
- Thread starter stock_trad3r
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stock it is so obvious you do not have any capital invested in the market, no one would be stupid enough to watch their posistions being blown up without having some sort of exit plan. You are one of the stupider people I have come across true enough, but not even you could be this big of a jackass. The only money you have lost, is your parents at the community college you post from. You should go to class and try and learn something, posting your dribble here all day is not fair to mom and dad.
If someone can't make the credit card payment it goes to collections. The credit card company can easily recoup losses on delinquents because of the collateral of the card user.
As long as wages and personal income continue to steady rise, so will credit card spending.
As long as wages and personal income continue to steady rise, so will credit card spending.
You do realize that when a bear market occurs 80% of the leaders from the prior bull market will never again recover. That means that by looking at the same old shit, being bullish on the same names you had been bullish on a year ago, by default your putting yourself way behind the curve. I happen to agree with you that we could be forming a tradable bottom here (I don't have any idea if it's "the bottom" though), but you are really going about this in the wrong way. There are a lot of people here who have actually given you helpful advice in the past, I don't know why you continue to be happy pissing your money away on the same stuff that does not work and will continue to produce the same bad results you have gotten. I've moved beyond being annoyed by you and into feeling sorry for you...get it together if your going to keep playing the game.
80%? Where do you get that figure. After the dotcom collapse the only sector that didn't see a full recovery was tech. And many tech companies such as AAPL and RIMM made record highs.
Virtually all sectors with the exception of transports lead the last bull market. In a new bull market only 20% of them will recover? Seems unlikely.
I really don't feel like doing the work for you that you should care enough to be doing for yourself, but obviously don't. What I've told you is true, you can choose to think it is or that it's not, it has no effect on me either way so I really don't care. I'm just trying to help you stop losing so much money.
Thanks for you help, but 2006 and 2007 were great years, and 2008 was a good year up until August/September when things suddenly took a turn for the worst.
This guy sounds like Kudlow.
Credit card companies cannot "easily recoup losses on delinquents because of the collateral of the card user" because credit cards are unsecured debts. Indeed, they go to collections but collection companies pay a fraction of the cost of the debt to acquire it. People who go into CC default stop using and acquiring new credit cards and MA and V will suffer as a result.
Unemployment is on the rise so how will personal income continue to rise? Perhaps you missed the headline from not long ago that people have been paying down credit cards in record numbers. People are flat out scared. They are not borrowing and banks are not lending. If people don't use their credit cards, either by choice or by force, MA and V will see a decline in their business.
You need to get a basic education on what drives the revenues of the companies you are investing in. Charts are useful and some of your holdings do look bullish but there's much more to analyzing a stock than just a good looking chart. Start with a basic SWOT analysis. I suspect you won't do anything other than come back with some reason why you are still super bullish on these companies.
Unemployment is on the rise so how will personal income continue to rise? Perhaps you missed the headline from not long ago that people have been paying down credit cards in record numbers. People are flat out scared. They are not borrowing and banks are not lending. If people don't use their credit cards, either by choice or by force, MA and V will see a decline in their business.
You need to get a basic education on what drives the revenues of the companies you are investing in. Charts are useful and some of your holdings do look bullish but there's much more to analyzing a stock than just a good looking chart. Start with a basic SWOT analysis. I suspect you won't do anything other than come back with some reason why you are still super bullish on these companies.
Actually, technically according to the law as soon as a credit card company turns your balance over to a collection agency, 90% of the time they have broken the letter of the law. If you know this, which specific laws are broken etc, you don't have to pay them and they have no choice but to forgive the loan. You don't even have to argue that you don't owe the money, you simply show that they broke the law in collecting and you get off scott free for being a deadbeat.