These are not my words ...
DESPAIR. That's what I read in what XXX has to say. XXX, you were eloquent, and almost poetic in your description of reaching that point in time where we're forced to "wake up and smell the coffee." For those of us who've done the research, there's no escape from the truth.
I've known for many years there were powers at work, and they were stronger than I could grasp the concept of. So strong that Madoff, Stanford, and others that are scrambled up to the surface of this grand farce are just the "little guys." I didn't have an understanding that we would see this reckoning in my lifetime. But the putrid reality of the state of this world and what got us all to this point is becoming clearer every day now.
Anyone who doubts the magnitude of the crisis at hand is long overdue some in-depth study of several hundred years of history and power. XXX has made references to these issues. XXX is on target.
The multitudes.....billions even...... of trusting, hard-working people in this world have been done a grave injustice as a part of a long-term plan. My belief is it can't be fixed, no matter what, because those who orchestrated this entire situation have no need for that.. All we can do is tiptoe around this and try to "make do." G-d help the younger generations. Despair - I share it.
When you are referring to buying, are you talking about SRS? Or shorting URE? Regarding GS, there was some discussion on the SKF board regarding shorting GS to the 40's. Sounds like it could be a good trade. Going to our sail boat in Oriental, NC for 10 days or so. Hopefully the world will not fall apart before I come back. Hate losing in on a good trade. Nonetheless, over the next year, the stock market is toast, banks are toast, real estate (particularly commercial real estate, will be toast. There will be plenty of day plays in March. Have a good 1o days. I'll be checking on this board with you and perhaps we could share strategies.
You should be solid on ABX. Support 37 & 36. You could breakout nicely above. I like that trade. Good odds potential anyways. I like it.
I would highly recommmend staying mostly in cash, and scalp these pigs.
I am hoping we finish on the lows for today, so when and if can gap lower in the A.M. (more bad news?)
I can play that as a day trade and would be a buyer. Sell before the end of close tomorrow.
As for individual stocks doesnt really matter because the macro is the bigger easier to follow play. Look at GS getting the beat down. maybe that is my play if it plays out like I said.
Just be patient wait for the pivots, and the waves wont let you down.
Had 3000 shares of SRS that I had a cost basis of 59. Sold last week at 68. I held SRS for several months and learned the hard lesson of not holding these ETF's for prolonged periods of time, due to the daily resetting and decay. I am waiting for the next bear rally to bring SRS down. Hopefully this will be in March. I suspect that the real estate and stock market is going to tank in late March or April and I want to take that ride up. If SRS ever gets back down into the high 50's or low 60's around that time, I will back up the truck and buy SRS. In the meantime, I plan on day trading URE and SRS depending on the news. I also have a position in ABX (2115 shares @ 38.04). I am waiting for earnings. I believe that they will suprise to the upside and that the stock will go to 45. Likely that will be my sell price. Otherwise, for the most part, I am in cash. What are your stock positions?
Agree with you. However, there will be uptrends along the way to a DOW of 5000 or less. Thus, trade the uptrends with these ETF's on a day to day basis, with tight stops. I suspect that URE will go up today. I'll be happy with a 5% rise. I disagree with Bush's and now Obama's approach. However, I think that the market will rally a little today, and hope that I will be able to eek out a small profit. Buying order for 12,000 URE at 3.03 or better. Hoping to sell at $3.25 - 3.30 today. Will be following all day and sell if there is a downtrend. GLTA