HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, DarterBlue said: Thanks. He had his own inner demons. He was a good man with some very real, human weaknesses. I credit him with instilling a love of learning in me which is probably why I am still alive and kicking today. I have people in my family that have struggled with alcohol and drugs and lost a cousin to an overdose. This stuff is certainly real and it's destroying families Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, TheBlockIsHot said: Maybe they can donate to your health insurance fund? he champions the non working investor class while he cant afford his own health insurance they caught themselves a live one in him 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 2 minutes ago, TheBlockIsHot said: Maybe they can donate to your health insurance fund? Nah. Let them take care of their own and their priorities. It is not up the rich to help people Quote Link to comment Share on other sites More sharing options...
TheBlockIsHot Posted March 23, 2018 Report Share Posted March 23, 2018 2 minutes ago, noonereal said: he champions the non working investor class while he cant afford his own health insurance they caught themselves a live one in him LOL it is truly unbelievable. It's like watching everyone around you, beat you, then laugh at you, while you cheer them on! 1 Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 23, 2018 Report Share Posted March 23, 2018 42 minutes ago, HSFBfan said: Nah. Let them take care of their own and their priorities. It is not up the rich to help people You need to think in macro a bit. We are all interdependent. The rich don't prosper without the toils of the many. The many can need help at times to survive. It is not only morally an ethically imperative all pull together, it is necessary for all our survival. 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 3 minutes ago, noonereal said: You need to think in macro a bit. We are all interdependent. The rich don't prosper without the toils of the many. The many can need help at times to survive. It is not only morally an ethically imperative all pull together, it is necessary for all our survival. Millionaires are the ones creating jobs by having business helping us get paid. So I hope the rich keep getting more rich esp the ones in charge of business Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, HSFBfan said: Millionaires are the ones creating jobs by having business helping us get paid. So I hope the rich keep getting more rich esp the ones in charge of business No. The American public is creating jobs by driving demand. 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 Just now, noonereal said: No. The American public is creating jobs by driving demand. Well it's a give and take but if all the millionaire ceos closed up their business we would all be here with nothing. Quote Link to comment Share on other sites More sharing options...
HawgGoneIt Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, HSFBfan said: Well it's a give and take but if all the millionaire ceos closed up their business we would all be here with nothing. You sure about that? I bet I'd be just as happy huntin', fishin', lovin' every day... I can grow my own tomatoes and squash. 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, HawgGoneIt said: You sure about that? I bet I'd be just as happy huntin', fishin', lovin' every day... I can grow my own tomatoes and squash. Well yeah I'm sure a lot of us would be including myself Quote Link to comment Share on other sites More sharing options...
HawgGoneIt Posted March 23, 2018 Report Share Posted March 23, 2018 1 minute ago, HSFBfan said: Well yeah I'm sure a lot of us would be including myself That's why I say... Screw 'em and feed 'em beans! Keep the fish for myself. Bunch of soft millionaires. Without the little guys, they aren't shit but hungry. 1 Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 23, 2018 Report Share Posted March 23, 2018 6 minutes ago, HSFBfan said: Well it's a give and take but if all the millionaire ceos closed up their business we would all be here with nothing. No, it would leave room for you and I to start a business. Right now it is very hard to start a small business because of the advantages the giants have. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 2 minutes ago, noonereal said: No, it would leave room for you and I to start a business. Right now it is very hard to start a small business because of the advantages the giants have. If you wanna put up with the stress of running a business sure Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 23, 2018 Author Report Share Posted March 23, 2018 4 minutes ago, HawgGoneIt said: That's why I say... Screw 'em and feed 'em beans! Keep the fish for myself. Bunch of soft millionaires. Without the little guys, they aren't shit but hungry. They could pay you bitcoin to teach them how to fish! Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 23, 2018 Report Share Posted March 23, 2018 5 minutes ago, HSFBfan said: If you wanna put up with the stress of running a business sure LOL, well I have for 2o years... Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted March 23, 2018 Report Share Posted March 23, 2018 10 minutes ago, noonereal said: LOL, well I have for 2o years... That's not fun Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 23, 2018 Author Report Share Posted March 23, 2018 3 hours ago, DarterBlue said: We are a long way from the close. If I were a betting man like noon, I would bet we close below 24000 and lower than yesterday. So I would find another thing to be happy about so you can enjoy your weekend! So said, so done. The DOW is now only about 200 points above its February low. If this gets taken out convincingly and the NYSE which is also close to its February lows, follows suit, we will see the next leg down in this market correction/bear market (yet to be determined). I had a strong feeling this was going to happen. The attempted rally today had no buying strength behind it. For months the stock market, giddy with the expectations of the big tax cuts, totally ignored the political chaos going on around it. The realization that the chaos could be damaging to the economy and to US business interests in general, finally seems to be sinking in. Remember, demand and supply always determine price. And, it's not the news of the day that determines market movement. What's important is how the market reacts to the news of the day. For right or wrong, the market is a powerful force and should never be argued with. If you think it's wrong, you should just stand aside and wait for your truth to manifest itself. 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 23, 2018 Author Report Share Posted March 23, 2018 On 3/22/2018 at 4:34 PM, DarterBlue said: For the second time in a row, my entry was pretty good. However, the first time I was wrong in believing that the market was pretty much going to go straight down from its January highs, rather than top out over time. As a result, that trade was closed with minimal profit. At the close today, using the mid range between bid and ask (on a quiet trading day you can usually get a fill at that price), the new positions were up approximately $9k. Adding yesterday's closing results, the positions now show a $10k profit, or approximately 16.5% on funds deployed in a day and a half. Call it veteran's luck if you will, the trick now will be to manage this trade properly. First, I will start by repeating that I am a position trader, not a day trader. So, unless the market literally falls out of bed tomorrow, I am very unlikely to close the positions. From here, the next test comes at the February lows for the DOW and NYSE. Yes, I know my positions are short the Russell, NASDAQ 100 and S&P 500. However, the DOW and NYSE are closest to breaking their February lows and if they do, I fully expect the other major indices to follow. Should they hold these lows, assuming they actually test them, then that would be a good sign for the bulls. If they slice through them, then I fully expect triple digit profits from these trades before they are closed. On the other hand, should tomorrow be a strong rebound day, I will have to do some homework over the weekend. Suffice it to say that for now I am deliriously happy! In two and a half days my new short positions are up just over 25%. With profits of approximately $7 k today, the trade is now up over $17k. Monday is a critical day. Both the NYSE and the DOW are within two percent of their February lows. And the S&P 500 currently sits right on its 200 day moving average. Violation of these key support areas by these three indices means that the second leg of this market correction/bear market? has begun. If this happens, I don't think the DOW would find any kind of meaningful support till it was in the 22000 to 21500 range recorded last summer, which would mean another 1600 to 2000 or more points from today's close. After that, the next meaningful support would be the 19500 to 20000 range which goes all the way back to December 2016. If we get there, the great majority of the Trump bull market run will have been erased, at least as far as the DOW is concerned. For now, I am going to hold on to my positions. If the averages find support next week and defend it conclusively, I may close them out. If they don't and continue to fall, or they meander around inconclusively, then I will continue to enjoy the ride. Quote Link to comment Share on other sites More sharing options...
dan in daytona Posted March 24, 2018 Report Share Posted March 24, 2018 Darter, your up is my down. Please excuse me for not cheering your short term gain. My elderly father, like myself, is still 100% stock index. We may not live to see yearly double digit returns again, but our heirs will "eventually" reap the family's long term strategy of... "let it roll." 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 24, 2018 Author Report Share Posted March 24, 2018 3 hours ago, dan in daytona said: Darter, your up is my down. Please excuse me for not cheering your short term gain. My elderly father, like myself, is still 100% stock index. We my not live to see yearly double digit returns again, but our heirs will "eventually" reap the family's long term strategy of... "let it roll." It's all good, Dan. We are playing two different games. Short of dying real soon, my trade will be covered probably before the end of Spring even if it is wildly profitable (It may not be). Your investments are for the long term. You have the 1% on your side. I am matching my skills against the 1%. In all likelihood, even if this is the beginning of a brutal, secular bear market, you will probably recoup any losses within a few years. So, hopefully, you will still be alive, as last I saw you, you were looking 10 years younger than your age. If our betters could orchestrate a market recovery from the last debacle (2008/2009), they will probably find a way to do it again unless the masses finally rise up and revolt against the Ponzi scheme that has been designed to rig the system in favor of the wealthy. What I am trying to say is: we can both win at this; you are riding the big waves off Hawaii, I am trying to relieve the sloppy among the leisure class of some of their small change. The inherent danger involved in my strategy keeps the adrenaline flowing. Makes me feel alive! Call it gamblers' high. Maybe this will even elicit a smile from Noon! 1 Quote Link to comment Share on other sites More sharing options...
dan in daytona Posted March 24, 2018 Report Share Posted March 24, 2018 1 hour ago, DarterBlue said: It's all good, Dan. We are playing two different games. Short of dying real soon, my trade will be covered probably before the end of Spring even if it is wildly profitable (It may not be). Your investments are for the long term. You have the 1% on your side. I am matching my skills against the 1%. In all likelihood, even if this is the beginning of a brutal, secular bear market, you will probably recoup any losses within a few years. So, hopefully, you will still be alive, as last I saw you, you were looking 10 years younger than your age. If our betters could orchestrate a market recovery from the last debacle (2008/2009), they will probably find a way to do it again unless the masses finally rise up and revolt against the Ponzi scheme that has been designed to rig the system in favor of the wealthy. What I am trying to say is: we can both win at this; you are riding the big waves off Hawaii, I am trying to relieve the sloppy among the leisure class of some of their small change. The inherent danger involved in my strategy keeps the adrenaline flowing. Makes me feel alive! Call it gamblers' high. Maybe this will even elicit a smile from Noon! Patrick, I know you enjoy the daily adrenaline rush. I, on the other hand, casually look at the newpaper business page and am somewhat surprised how soon my quarterly statements seem to arrive in the (snail) mail from Vanguard. You too were looking quite spry, with a young man's spring in his step, at the FHSAA Championships last December in O-Town. Your healthy eating habits are paying dividends (pun intended). Until next time my friend (lunch on me).. Peace 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 24, 2018 Author Report Share Posted March 24, 2018 3 hours ago, dan in daytona said: Patrick, I know you enjoy the daily adrenaline rush. I, on the other hand, casually look at the newpaper business page and am somewhat surprised how soon my quarterly statements seem to arrive in the (snail) mail from Vanguard. You too were looking quite spry, with a young man's spring in his step, at the FHSAA Championships last December in O-Town. Your healthy eating habits are paying dividends (pun intended). Until next time my friend (lunch on me).. Peace 1. Vanguard is the best mutual fund company out there. Jack Bogle was one of the few honest Investment Managers on Wall Street. 2. If I realize my target return on this trade I insist on picking up the tab this time. I will caution you that the target is high at 100% on my invested amount. To give you an idea as to what that would take, based on current implied volatility levels, it would take a market drop of approximately 22% from when I initiated the positions last Wednesday. This would be a relatively ordinary bear market move. Quote Link to comment Share on other sites More sharing options...
noonereal Posted March 24, 2018 Report Share Posted March 24, 2018 8 minutes ago, DarterBlue said: 1. Vanguard is the best mutual fund company out there. John Bogle was one of the few honest Investment Managers on Wall Street. 2. If I realize my target return on this trade I insist on picking up the tab this time. I will caution you that the target is high at 100% on my invested amount. To give you an idea as to what that would take, based on current implied volatility levels, it would take a market drop of approximately 22% from when I initiated the positions last Wednesday. This would be a relatively ordinary bear market move. 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted March 24, 2018 Author Report Share Posted March 24, 2018 1 hour ago, noonereal said: But no bright lights of Vegas to distract here, though! Quote Link to comment Share on other sites More sharing options...
dan in daytona Posted March 24, 2018 Report Share Posted March 24, 2018 13 hours ago, DarterBlue said: 1. Vanguard is the best mutual fund company out there. Jack Bogle was one of the few honest Investment Managers on Wall Street. 2. If I realize my target return on this trade I insist on picking up the tab this time. I will caution you that the target is high at 100% on my invested amount. To give you an idea as to what that would take, based on current implied volatility levels, it would take a market drop of approximately 22% from when I initiated the positions last Wednesday. This would be a relatively ordinary bear market move. 1) Yes, Vanguard had the lowest expense ratio of all the investment firms that handled my company's generated 401K retirement plan over the last 30+ years. Moved the bulk of my savings back over to them many years ago. At retirement, with company matching to T Rowe Price account ending, everything now is at Vanguard. 2) No way am I looking fondly upon a posible 22% market drop, or in your words, a "correction." Better cash in now and jump on this unprecedented Raging Bull.... nervously whistling in the dark Quote Link to comment Share on other sites More sharing options...
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