Thump's Place FL

For my friends and familys amusement and edification
 
HomeFAQSearchMemberlistUsergroupsRegisterLog in

Share | 
 

 Where's the bottom?

View previous topic View next topic Go down 
AuthorMessage
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Where's the bottom?   Wed Oct 08, 2008 10:43 am

It looks like we're getting close but I think we'll be down awhile so we won't grab a
falling knife. Helen has three retirement accounts, one she bought (I bought) before
she was convered by another plan and the one she had where she's working now
before they changed the plan and they're both in Vanguard. They're mostly down but
it's the best place to invest in the market overall and she did better than average with
some specialty funds in it.

They mandated that you could only invest in one company, MFS, and must have gotten a
kickback or something to get them to do that. MFS sucks. Their stock fund has small
gains or even losses when the market's booming and fail as bad or worse than average
when it's down. She has a very small exposure that she got before we reallocated
where her money goes.
So, for the last few years she's been putting all her withdrawals in their money market
account. It doesn't go down. Now I'm wondering when a good time will be to
transfer some of that money to even their sorry stock fund. I believe she has well over
$50,000 in her money market fund. As soon as she retires out of there it comes but it
looks like that's going to be awhile now, can't afford to retire.

Thump
Back to top Go down
View user profile http://www.thumpnet.com
rockhump

avatar

Posts : 1536
Join date : 2008-05-16

PostSubject: Where's the bottom?   Thu Oct 09, 2008 6:52 am

I think we're close. Valuations are good across numerous sectors now imo. I readjusted my 401k yesterday and added more to Siemens stock. They're down 60% or better in the last year and I don't think it's justified. We'll see I guess but yeah, it's been a painful year.
Back to top Go down
View user profile
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Where's the bottom?   Thu Oct 09, 2008 9:03 am

I'm about ready to jump in. I think I'll buy 200 HD and 50 MRK to clear and sell them back after
30 days. It's for the last two years and that's all that can really give me a good write off
on our income tax this year.

WMT - $47.57 - 50
GPC - $39.84 - 50
MRK - $39.75 - 50
HD - $37.18 - 100
HD - $34.38 - 50
HD - $32.48 - 50

Yesterday: 3:28 PM 10/8/2008
GPC - $36.06
HD - $21.57
MRK - $29.13
WMT - $56.21

<edit>
Just Bought:

HD:
100 @ $21.12
100 @ $21.13

MRK:
50 @ $27.9594
Back to top Go down
View user profile http://www.thumpnet.com
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Where's the bottom?   Thu Oct 09, 2008 4:17 pm

Well shit, I'm always too early. I'm locked to take the loss and I've got a couple of
months.

Thump
Back to top Go down
View user profile http://www.thumpnet.com
rockhump

avatar

Posts : 1536
Join date : 2008-05-16

PostSubject: Where's the bottom?   Fri Oct 10, 2008 6:31 am

Yeah, early indications lead me to believe you could have bought even cheaper if you'ld waited til today. Geesh.. Hard to time the market but if we ain't near the bottom, better hunt for a cave.
Back to top Go down
View user profile
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Where's the bottom?   Tue Oct 14, 2008 10:54 am

It wasn't where I thought it was but I was pretty sure we were nearing it.
We've set the bottom now and have to wait and see if it sticks after the bounce
and we'll be testing it later to see if it holds.
It's hard to figure without the charts that I don't have access to anymore but I
was pretty close, I think it broke the charts anyway and that's not good.
I've decided though that you can discard between 3 days and up to two weeks
of the excess sentiment on the down side and the up side and it works a little
better.

Thump
Back to top Go down
View user profile http://www.thumpnet.com
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Where's the bottom?   Wed Oct 15, 2008 2:20 pm

I've got to get some more GE so I can sell what I bought when it was higher so I
can take another income tax write off but it doesn't look like there's any hurry, down
another 500.

Thump
Back to top Go down
View user profile http://www.thumpnet.com
rockhump

avatar

Posts : 1536
Join date : 2008-05-16

PostSubject: Where's the bottom?   Thu Oct 16, 2008 6:49 am

Yeah, I think we're in unchartered waters with the markets right now. I'd expect Mrk to be doing well as a defensive play and certainly GE will be a winner longer term. I was feeling better up until yesterday but just not sure anymore.
Back to top Go down
View user profile
Thump

avatar

Posts : 2718
Join date : 2008-05-13
Location : Central Florida

PostSubject: Re: Where's the bottom?   Thu Oct 16, 2008 10:49 am

We set a new bottom, we may have to test it but I think it'll hold.
52wk Range: 7,773.71 - 14,075.80
GE is down again today on both sides of $19, I may hit it today.

Thump
Back to top Go down
View user profile http://www.thumpnet.com
Sponsored content




PostSubject: Re: Where's the bottom?   

Back to top Go down
 
Where's the bottom?
View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Thump's Place FL :: General Discussion :: Anything-
Jump to: