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- Thread starter $CostAverageMAN
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Quote from $CostAverageMAN:
I Have no problem Telling you about myself...Heck It's My BirthDay Today (68)
----1st Off I was born in No Where Ville, Mississippi... I Worked most of my life in Sales for an AutoParts Manufacturer (Standard Motor Products)...I retired In 1998 ThankGod....1st off I never made a yearly Salary over 60,000 and my wife of 37 years works for Delta Airlines and still does today...ThankGod...It's nice to have her out of the house 3 Days a week...Helps the marriage greatly....All she does is fly International (well right now she is in Hawaii)...But anyways she always leaves Monday and comes back Thursday...This allows me plenty of time to research/Chart/ and Figure entry and exit points.....
Most importantly throughout my life I understood...FV=$(1+r)^t
Look for the highest r, but do it while preserving capital and being safe..
And always pursued a Conservative/Diversified Approach to investing....Not just US, but many of Countries...
In the early 1980's I really started investing with some real capital when I sold The Family Land for 180K....Back then it was a great price....Looking back huge mistake....I put it all in 10 year treasuries yielding 16%......Sold them 5 years later and since yields had fallen so much my bonds were worth twice the value...1st real success in the market....
My wife and I have always known the value of a Dollar since we both worked Blue Collar all our lives....And saving every year was primary goal since we got married....3 Kids screwed the saving thing up, but we managed to teach them the value of investing/ NOT gambling....Get rich quick happens to a few, but remember Options are a ZERO SUM GAME....
All I do Is Protective Puts, Selling Covered Calls, and Zero Cost Collars in down markets...The NYX naked Calls was a No Brainer and is the 1st naked calls I bought in 2 years.....Market psychology wasn't that hard with NYX...
Advice Just Save, Payoff high interest debt, Take the wife's credit cards away, Make sound long term investments, Follow trends with speculative money, Be diversified, And Protective Puts saved about 1/3 of my capital in 2000.....
Either Protect your large positions and big gains or sell them!!!
Giving up a few Percentage points (buying puts) is better than losing 1/3 of your capital when valuations correct.....Timing is KEY so stay on top of Market Cycles and Remember sometimes CASH IS KING!!!
Best 6 things I ever DID in market.
1. Loaded up on Brazil in 2003 especially BANKS
2. Bought 10Yr Bonds when Interest was 16% and sold 5 years later for huge profits..Over 200% gain on initial capital
3. Bought 6 month out Protective Puts on INTC, YHOO, JDSU, CIEN and many others 2 months before the buddle popped...Sold all unprotected equity very 1st Day it corrected and never looked back..
4. Bought Oils all over the world Right when Bush W. was elected another No Brainer----HALIBURTON
5. Was sitting in 60% CASH and BONDS in 1987....Bought Equity on the cheap that year...
6. Never Registered to Vote.....It's not my fault for anything the US government does....and I will never be sitting in Jury Duty the day the Market Corrects!!!
$COSTAverageMAN
Just in case someone missed this gem !
I'm reading this thread from the beginning and DollarCostMan you are awesome !
Feels good to look at positions sold earlier in the week falling hard today....
The list of stocks that I sold throughout the week will get posted tonight......78% CASH Position is where I got the anomaly too....Feels good to be without the paper in name today...
$COSTAverageMAN
The list of stocks that I sold throughout the week will get posted tonight......78% CASH Position is where I got the anomaly too....Feels good to be without the paper in name today...
$COSTAverageMAN
07-16-07 12:04 PM
It's been a while since I last wrote in the old journal and what a year it has been. The Anomoly has just doubled for the year of 2007 and the selling has just begun for me.....I'm not short by any means just going to the sidelines....I hope to be 50% Cash by the end of the day....
GL to all you traders and lets hope the move continues, but 14000 will be with me on the sidelines with at least 1/2 my CASH....
I hope all of you heard the warning and used your head instead of listening to the 14K hype....Countless stocks are down over 10% from my selloff....Feels good to come back to the journal and provide advice that was profitable.....I hope some of you listened
$COSTAverageMAN
It's been a while since I last wrote in the old journal and what a year it has been. The Anomoly has just doubled for the year of 2007 and the selling has just begun for me.....I'm not short by any means just going to the sidelines....I hope to be 50% Cash by the end of the day....
GL to all you traders and lets hope the move continues, but 14000 will be with me on the sidelines with at least 1/2 my CASH....
I hope all of you heard the warning and used your head instead of listening to the 14K hype....Countless stocks are down over 10% from my selloff....Feels good to come back to the journal and provide advice that was profitable.....I hope some of you listened
$COSTAverageMAN
This was posted in a private message I sent out to a ET member an I believe it is relavent enough to be in the old journal.....
All in all the year has been incredible, but I'm extremely worried about whats going on in the corporate bond market....My outlook for the market is biased to the downside and very cautious....Go look at what's going on in the floating rate funds....EVBLX and FFRHX they are getting their heads cut off....The problems I see with this corporate bond problem is :
1. LBO's come to a massive slowdown..
2. Corporate Buy Backs funded by floating bonds are going to slow down...
3. Trillion's of $'s in bond holders are losing money on their positions and could create a panic of some sort.
4. Cap. Ex. funded by bonds of corps. will have a harder time creating double digit growth out of new expendetures with these new rates....
This is a much longer term problem than anyone else is talking about and I can be patient to wait on US investments.
Watch that Yen carry trade unwind.....Ouch
$COSTAverageMAN
All in all the year has been incredible, but I'm extremely worried about whats going on in the corporate bond market....My outlook for the market is biased to the downside and very cautious....Go look at what's going on in the floating rate funds....EVBLX and FFRHX they are getting their heads cut off....The problems I see with this corporate bond problem is :
1. LBO's come to a massive slowdown..
2. Corporate Buy Backs funded by floating bonds are going to slow down...
3. Trillion's of $'s in bond holders are losing money on their positions and could create a panic of some sort.
4. Cap. Ex. funded by bonds of corps. will have a harder time creating double digit growth out of new expendetures with these new rates....
This is a much longer term problem than anyone else is talking about and I can be patient to wait on US investments.
Watch that Yen carry trade unwind.....Ouch
$COSTAverageMAN
S&P 500 at 1st level of resistance of 1462....
Next level to hold if we break the 1st level is 1438....If that break's watch out below all the way to 1359.....
Just one man's thought, but we are holding the 1st level going into the weekend......A gambler would be buying, but this old man is just watching from the sidelines and only taking selective trades for the moment....No buy and holds for me at this time....
$COSTAverageMAN
Next level to hold if we break the 1st level is 1438....If that break's watch out below all the way to 1359.....
Just one man's thought, but we are holding the 1st level going into the weekend......A gambler would be buying, but this old man is just watching from the sidelines and only taking selective trades for the moment....No buy and holds for me at this time....
$COSTAverageMAN
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03-14-07 01:53 AM
HAPPY BIRTHDAY TO ME (3/14/1938) 69 years young and healthy as a horse!!!!!
My 20 largest Short position are CCRT, MCO, CORS, MHO, MTH, SPF, BLG, NDE, NFI, NEW, LEND, FED, FMT, AHM, BKUNA, IBCP, LAB, RATE, HKF, IVC (Mostly lenders of credit and homebuilders with some banks)...Pretty much the same thing everyone is shorting if they could get a fill .
Not that shabby of a short list posted back in March....Looking back I should call it my a birthday present to Elite Trader....Heck 2 of the 20 are all ready delisted....And I don't think AHM (American Home Mortgage) is far behind....BTW that position was closed today.... (I have been short since the 30's, but it got posted around $22....)
$COSTAverageMAN-----Always trying to avoid those stocks that go from 30 to 1. ....But who wouldn't short it with a name like that.....At least Indymac got smart and changed the ticker symbol from NDE to IMB during the middle of the short onslaught of that stock....
HAPPY BIRTHDAY TO ME (3/14/1938) 69 years young and healthy as a horse!!!!!
My 20 largest Short position are CCRT, MCO, CORS, MHO, MTH, SPF, BLG, NDE, NFI, NEW, LEND, FED, FMT, AHM, BKUNA, IBCP, LAB, RATE, HKF, IVC (Mostly lenders of credit and homebuilders with some banks)...Pretty much the same thing everyone is shorting if they could get a fill .
Not that shabby of a short list posted back in March....Looking back I should call it my a birthday present to Elite Trader....Heck 2 of the 20 are all ready delisted....And I don't think AHM (American Home Mortgage) is far behind....BTW that position was closed today.... (I have been short since the 30's, but it got posted around $22....)
$COSTAverageMAN-----Always trying to avoid those stocks that go from 30 to 1. ....But who wouldn't short it with a name like that.....At least Indymac got smart and changed the ticker symbol from NDE to IMB during the middle of the short onslaught of that stock....
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$Cost are you still in a holding pattern ?
What a short squeeze.....All I got to say is XOM, T, AA, UTX, AIG, INTC, AXP and CME.......All trades taken around 3:25 today....All closed as well....Almost 1/2 m net on the trades.........What a close.......Still sitting back with around 84% Cash in the portfolio, but 20 m went in and 20.5m came out today......
$COSTAverageMAN
$COSTAverageMAN