jere, it's ok. johnny come latelies are all over these message boards. Some people's idea of investing is to buy and ride out ups and downs for months, if not years. I, on the other hand enter and exit on profits exceeding 20% on weekly moves and 50% on moves taking longer. That's my target. Of course I get caught about 30% of the time or so in a negative return.
This is a sell day. I see no macro reason for thinking we're headed back up to bigger and better things. That 1000 point drop the other day was an opportunity to set yourself up for yesterday's and todays pop. I'm expecting a much bumpier ride ahead.
Wow, got to 16.50 pretty fast. Now I have to decide if I want to sell today.LOL. btw, bought a bunch of BBG in the 3.50 range and sold it today. Just too hard NOT to take big profits made in short time periods. Still like CNC for a move up. EBIX was a great buy at 26 and change, although I had my money tied up elsewhere and couldn't get it. VGR is always a nice investment this time of year as it pays out a special 5% div. on top of its regular 40ct div.
Kee, I mostly fly by the seat of my pants. Scary huh, been trading since 1977 and follow about 85 stocks closely. 85 seems to be enough to cover all sectors and still be able to have a 'feel' for them., If I didn't have to wait on the 3 day trading rule I could make a ton more money. Tried to get my dad to buy a seat on the exchange many moons ago when they were going for 50k. Just couldn't get him to see the value. A couple or so years later they were selling for 1 million.
There was a very interesting commentary on a radio program today. Had to do with Jewish holidays and 7 year cycles. Basically, going back every 7 years starting with this coming sept 15th or so the market has suffered some great event causing a great drop. Which if right, this sept. should see a greater drop than what we just had. Oh ya, Oct. falls under this also. So, who knows, maybe we should all sit it out for awhile. And Kee, sorry if I don't dazzle you with number crunching forecasts and chart theory. I think I've done ok this year being up about 20% until this last week. And I think most here would take a 20% year out of all of what's been going on.
Well, I could say Donald Trump. But then I'd get lambasted for getting political. LOL But, we have here a stock which will now be viewed as a safe heaven. Its already shown itself to not want to be a 14 dollar stock. It has dropped 2 times now momentarily to 13. Last year and a few days ago. Which were entirely dumb drops. It has been a consistant money maker on the div. and has shown itself to be a very well managed company. In the past it has held onto the 17 to 18 price range without fanfare. The rising div and track record can only result in higher highs. Lastly, the economy has sucked for the most part only held up by the fed and pumping over 5 trillion into wall Street. While our economy will have to answer for that mistake, stocks like SFL will survive the downward pressures and once we approach having a new party in the WH we'll see a terriffic rebound in our markets. We can't overlook the human race's hunger to expand itself and better its lot. Remember Red, hope is a good thing. GLTA
With next earnings here soon this will move up AND pay out a very nice div.
We did just fine without China, and can do so again. As for all the immigration, it's a result of people (countries) WANTING the immigration. Don't be so foolish as to believe immigration by illegals couldn't be stopped. And it's being sold to the citizenry of these countries as something no one within the borders wants. HA!
I can sure see how oil can disrupt world economies. Black gold, right? What if tomorrow someone found 1 million tons of gold while digging a mine? Since oil was based on dollars, and dollars were for decades the currency to own it is only right that anything tide so close together would suffer as one. History tells us that once economies of multiple countries are negatively effected ( whatever the reason), a major war has soon followed. There are no less than 6 or 7 hot spots on the globe that could erupt into one of those major wars. I'm not counting on it to rally the markets. Just pointing out that today there are so many factors that play into our markets that it's impossible to count on any steady rise in any sector or company. Once the dropping stops in oil, then people will start looking at it as an opportunity and it'll get overblown again as to price rise and actual values. People are fickle, greedy and short memoried.
Consolidation of weaker companies either with another weak company or just being bought has stymied me also. I can see big companies just allowing weak players to just die away as why pay for them if they'll just go BK? Elimination is served with a bk without any outlay of cash. It's the weaker companies not joining forces that has me wondering. BTW, I'm liking BBG, WLL,BPT and RIG. BPT hit the GS target of 40 set back months ago. And whatever criteria GS was using then to call a 40 has been met for the most part.
I'm willing to say we're VERY close to the bottom. Like 5% away. I'm seeing a firming up today in the oil sector combined with a mixed bag of stocks showing both up and down in the sector. Buying into the sector imo would be a good start towards future profits in the sector.
Glad I'm only holding a small position. Gotta believe its nearing a bottom. I mean, even the last drop back in 08-09 was only a little bit worse. And the outlook then was far worse.