Interesting quote from AP
EconoLog: Recession Fears Loom Large
Friday January 11, 5:47 pm ET
Analysts Note Rising Fears of Recession, See Trucking, Lodging, Games Among Sectors in Danger
"... --Mike Hickey, an analyst at Janco Partners, said that while investors may punish shares of GameStop Corp. in the event of a recession, the Grapevine, Texas-based video game retailer's focus on used video games may carry more appeal to a stressed consumer than more-expensive new games. GameStop was one of the few retailers that reported same-store sales on Thursday to have raised its profit forecast."
You cannot go to Walmart or Target and trade in a few old DS games for something new. Kids nag their parents to go to gamestop and spend their allowance money and trade in old games for new games which in a month or two become old games ready for trading back in. There is no competition unless libraries start lending out games. No large chain retailer will buy back used games, but buy back just fuels new purchases.
As the analyist notes, demand for inferior goods such as used games could be helped by a recession.
The economy is already in slowdown mode as Dec. unemployment ticked up from 4.7 to 5%, but what happened to GME? - increased sales and profits.
With the good news on guidance is shocking to see the stock slide, but also some fall due to overall market, should bounce back good this week.
POT was great today even with the down market. Nice trade.
Just about every thing else got killed today. MCD and YUM are starting to look very attractive. I might have to add some to my IRA. I like MSFT as well, their earnings should be solid.
Next week should be interesting with all of the banks reports. I don't really have a game plan yet. I need to think about it.
well first i would love to be where u r,must b beautiful,u are almost dead on with #s ur math is good atleast,i have as of last feb made this more of my income,b4 that it was more long term ,the union pays my rent gives me healthcare pension annuity unemployment benefits,job security sucks ,i love installing office furniture the $ is great 42 an hour so there are benefits i get when i work another 6$ a hour for vacation because we get laid off all the time,im not worried about getting work because im doing this but if i wasnt i would be out in the workforce looking or even working somehow for myself maybe get my contractors license pay some insurance but im happy and love trading,when i first got into union i was lookng to buy a house and i was collecting unemployment 1998ish and i started cold calling pitching pru at 24 should have listened to pitch myself i was going to stick with it get my series 7 but then bankers wouldnt let me change job wasnt secure to get loan so i left brokerage then still had a problem with unemplyment when there is no work theres no work long story short i got the loan and never went back last year id say i went back to see if the company i worked for was there and it was gone
I forgot to add that with an account is over 100K you'll find some advantages to having a TD acct. Here's a list of the free things you get as an APEX client (including free wires, delivery, reorg's, and lots of extra services at no charge) They don't even charge to close your account if you ever decide to leave.
Toward bottom of pg:
Why are you concerned about getting a job? If you're making 13-18K a wk and you're up 20% for the yr already you shouldn't have any need to be working. Although, just because my brain works like this (OCD that always sees word problems), I figured that if someone made 16K for the wk he/she would probably have made at least 25% of that the previous wk as well which would be a grand total of 20K ytd. If the same account was up 20% ytd it would have started as a 100K account (now worth 120K). If that acct made 40% last yr it must have started as a 71.4K acct the previous yr to be worth 100K at the beginning of this yr.
You're already on pace to blow away the previous yr's returns (even avg'ing just 25% of this wk's 16K throughout the yr would triple the starting investment). With a knack for trading you should consider some sort of financial advisor type self employment or just invest for yourself and enjoy being retired. It sounds like you're doing far better than most people irt quick trading so I'd just stick with what works for you and forget about working for someone else.
I invest mostly long term. Even "most" of my options are long term. That works very well for me but it's obviously not for everyone. GL
P.S. Like I said, my brain sees word problems ("a curse" lol) and that's the only reason for all the calculations. It's not an attack it's just a word problem...
im learning from past mistakes thats for sure i was up over 40% last year so far this year 20% i dont mind paying the taxes i work in the city i install cubicles union work i work for companies that have had contracts with goldman tdameritrade ubs ny times was last job,ive been out of work since sept 5, to be honest im on a out of work list when i first went on it i was like #1800 politics who u know is the game i dont know any1 in the hall so i sit home waiting for work ive been watching markets for years religously so i got the hang of it oh i liked MCD b4unseen i forgot to tell u,so i sit infront of tv & comp all day everyday and just keep taking in more and more info and its been good,i do understand where u are coming from fly,etrade said 60transfer but i might stick with them for alittle longer so i dont tie up my $$