IMHO -- The market is working just as it should... The USA is NOT ready for higher interest rates... they will kill housing - they will kill autos - and the new taxes that the current Obamanites voted in (Obamacare) will suck too much money out of the economy.
Rates needed to just hold steady - and they need to hold steady for a year plus from now.
Here's the good news -- if you're in DIVIDEND paying stocks - and you're in great names -- then you're going to get paid every quarter regardless of what the market is doing "today" or "this week".
It's snowing hard in Sun Valley... think I'll go skiing. My checks keep coming...
So, guess who just opened up a Merrill Edge IRA account and Roth IRA account and funded them...
Merrill Edge is the discount arm of Merrill Lynch and have everything available to them that is available through ML...only the accounts are completely self directed with $6.95 trades.
10 minutes total to get them opened up and funded...now just have to do some final homework and devise my plan...
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Lance
1985 Monte Carlo SS Street Car
WE are going to see an increasing sell off -- because this market has more LEVERAGE and Margin accounts (they're at historically high levels) and there will be margin calls.... When that happens - the selloff become steep and swift.
We need it - and it should happen.
It busts me up that the TV talking heads can toss out the big numbers and are all about "wow -- 300 point selloff".... do the math -- that's a whopping 1.9ish %... We need a 500 point down day. That will take out a lot of the margin accounts - which would be a good thing. If you're stupid enough to be buying stocks on margin - then I'm happy to see you getting killed in the market.
I like to see a sell off at the close of the market.... that means people have gotten margin calls and they can't come in with new money to cover by the end of the trading day -- and the brokerages take over and just sell indiscriminately.
It hurts but it hurts so good! I think I am going to wait a little longer and see what happens tomorrow before I buy in more at this "discount" and lower my average.
Not tomorrow --- wait.... we have more downside to go. Don't be in a big hurry here.
I feel like the "old man" here... trying to use my experience to herd cats...
I'd love to see a show of hands of how many felt "fear" yesterday with a measly down 300 day... vs how many saw a buying opportunity... vs how many said "ho hum" this is just the way the market works - pay no attention to it.
I bought a couple new positions in a different account yesterday. I'm not even going to say what they were because it doesn't really matter. What does matter is that I only bought part of a position. I nibbled. I expect to get another opportunity to add to my position and I actually hope to be able to average them down not up.
We need MORE earnings reports to see how the economy is going. I think it's going "okay" but I also feel it's still rather fragile. Just "okay" isn't where we need to be - we need to really get the engine humming again. It's so much more fun when things are smoking along at a good clip. STABLE is what I'd like to see -- not on top of the fence trying to balance.
Interesting by the way -- was the talking heads discussing FUNDAMENTAL changes in eating habits ---- regarding the big earnings beat by Chipotle Mexican Grill (CMG) vs the earnings "miss" by McDonalds (MCD). Is there a shift in eating by the younger generation -- to healthier "real foods"? It's something to pay attention to...
Brian Hobaugh SCCA National Tour June 2014
First Hemi 'Cuda Convertible Ever Built
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