Registered: 06/11/03
Posts: 12543
Loc: Edmonton, Alberta
Originally Posted By: ninanina
I was thinking that with the bail out, the markets would at least go up at the news. Cramer predicted an up day...everyday....if Spain got the Bail out they needed. Be interesting to see how he'll react to the down day. I probably have no idea how bad things are over there if the Dow can lose 140 points the day after a one hundred billion dollar bailout for Spain's banks is announced.
Where can I hide?
I think the drop is more due to the fact that 100 billion is not deemed to be enough to save Spain. It is funny to think that while a 100 billion bail out would have been seen as significant 10-15 years ago, it does not mean much anymore........
I was thinking that with the bail out, the markets would at least go up at the news. Cramer predicted an up day...everyday....if Spain got the Bail out they needed. Be interesting to see how he'll react to the down day. I probably have no idea how bad things are over there if the Dow can lose 140 points the day after a one hundred billion dollar bailout for Spain's banks is announced.
Where can I hide?
Quality defensive companies that produce goods and services that people need.
_________________________ 'Rosie had 'Property of Tom' tattooed on her arm when we got married. So, for a while there, I was the fourth largest property owner in California' Tom Arnold, at the Roseanne Barr roast
thirdgreenhamthirdgreenham
Eleventy millionth person to declare their first year on the boards as the golden age, and the current era to be worthless.
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Registered: 02/16/06
Posts: 17440
Originally Posted By: 500Club
Originally Posted By: ninanina
I was thinking that with the bail out, the markets would at least go up at the news. Cramer predicted an up day...everyday....if Spain got the Bail out they needed. Be interesting to see how he'll react to the down day. I probably have no idea how bad things are over there if the Dow can lose 140 points the day after a one hundred billion dollar bailout for Spain's banks is announced.
Where can I hide?
Quality defensive companies that produce goods and services that people need.
when the cops raid the whorehouse, the good girls go to jail along with the bad ones.
_________________________
what goes around comes around...oh yeah, and respect your parents
I was thinking that with the bail out, the markets would at least go up at the news. Cramer predicted an up day...everyday....if Spain got the Bail out they needed. Be interesting to see how he'll react to the down day. I probably have no idea how bad things are over there if the Dow can lose 140 points the day after a one hundred billion dollar bailout for Spain's banks is announced.
Where can I hide?
Quality defensive companies that produce goods and services that people need.
when the cops raid the whorehouse, the good girls go to jail along with the bad ones.
Yep, for sure - when the cops raid the naughty house they even lock up the piano player !
I haven't changed my mind at all since my June 1 post. The Daily Sentiment Index showed only 5% bulls on the S&P 500 as of Friday, so I'm not surprised at all that we're seeing a rip-your-face-off rally with all the short-term players leaning the wrong way. How long it lasts, who can say...I was looking for a rebound back to 1335 on the S&P 500 (it's back to 1307 now), but if it goes higher than that, it's all gravy to me since I've been positioned long of late. It doesn't change the intermediate-term bearish outlook at all as far as I'm concerned. The job of this rally is to squeeze the shorts and sucker people back in before the next shoe drops.
Here's what I said on June 1:
1285 on the S&P now...I suspect we'll see a short-term bottom within the next week (probably in the 1250-1275 range) [update: the low thus far was 1267] which will set up a counter-trend bounce back up to the low-to-mid 1300s, which means it's probably worth gritting your teeth and hanging on for a rebound, as sentiment is very negative here and the odds of a bounce are growing. Materials stocks are outperforming today as some people are jumping the gun on QE3 speculation.
I think the upcoming counter-trend rally will just set us up for an even bigger decline later in the year, though, and will probably be investors' best and last chance to sell at respectable levels.
"counter-trend bounce back up to the low-to-mid 1300s"
The_Black_HandThe_Black_Hand The Common Man meets Regular People
TOTAL NEWBIE
Registered: 10/31/03
Posts: 26567
About this whole loss of wealth thing. It's just the housing market adjusting from the bubble and going back to where it probably should have been. Back when my primary residence and the lot connected to it was valued at a buttload of money, it would have cost that much to relocate to a different location and more if the location was nicer. The same thing still applies. Our home value dropped, but so did all the others, even in the better neighborhoods. One way to take advantage of it is to buy a nice rental that you'd like to eventually move to and benefit both from the rental income and in already having your future residence. Also, the fact they we bought our primary when it was under fifty grand on a large chunk of land and did a simple lot split, helps maximize profit when selling off. We may never move, but chance are the work maintaining it will overwhelm us at some point and we'll be forced to, so it's nice to have a place that will be smaller and ready to step into.
_________________________
**Disclaimer** Remember, I'm a chat board performing artist- so take everything I say with a grain of salt. I never claimed to be any good at it, but there you have it.
"If it's not disclosed...you're being hosed." Who coined that phrase? Me, damnit! And it's still true.
"Into my heart an air that kills,From yon far country blows What are those blue remembered hills,What spires, what farms are those? That is the land of lost content,I see it shining plain, The happy highways where I went and cannot come again."
Nothing I say is intended to be a factual statement.
HamletHamlet
Bid more or post more... tough one...
Registered: 11/02/09
Posts: 962
I just bought back my FAST shares for just over $39/share.
They are about 25% cheaper than when I sold them.
They still aren't particularly cheap, but I feel alot more comfortable owning them at today's price than I did when they were above $50/share.
Originally Posted By: Hamlet
FAST is down about 15% since I sold a third of my position.
On the one hand, I feel smart because I sold at a good time.
On the other hand, I feel pain because I've still watched a lot of money disappear in the shares I still own.
Originally Posted By: Hamlet
I've sold about a third of my FAST.
It kills me to sell it. The shares I sold had a cost basis of about $5/share from ten years ago.
It's priced for about the next 3-4 years of growth right now, though. Any bump in the road is going to crush it.
Originally Posted By: delekkerste
Yesterday, I said goodbye to some dear friends - INTC, HHC, CCJ and TROX. I made very good money in all in a very short amount of time, but I think now is the time to be taking chips off the table. I also bought some puts while vol is still so low.
Registered: 12/09/06
Posts: 13658
Loc: Survived the Krell Brain Boost
Originally Posted By: Hamlet
I just bought back my FAST shares for just over $39/share.
They are about 25% cheaper than when I sold them.
They still aren't particularly cheap, but I feel alot more comfortable owning them at today's price than I did when they were above $50/share.
I dumped 1000 shares of Sysco at a little over $30.00 that my wife had about 3 months ago. Pays a decent dividend and she's had it for about 15 years reivesting the dividends. I rather buy it back later when we get a correction.
delekkerstedelekkerste James Bond wears a Rolex...the rest is just product placement.
TOTAL NEWBIE
Registered: 08/21/02
Posts: 10264
Loc: New York, NY
Originally Posted By: Hamlet
I just bought back my FAST shares for just over $39/share.
They are about 25% cheaper than when I sold them.
Crazy...that stock is down 29% in 2 1/2 months. And, the sad thing is that there are many stocks that are down even more from their recent highs - a lot of energy & materials names are down 1/2 to 2/3rds from their 2012 peaks (some steel and coal stocks are down 90+% from their all-time highs now). The broad averages are really masking some absolutely brutal carnage out there...it's amazing how sentiment has changed so drastically in just a couple of months.
_________________________ "No asset is so good that it can't become a bad investment if bought at too high a price." - Howard Marks
Price is what you pay, value is what you get.
It's better to be thought a fool than to open your wallet and remove all doubt.
I haven't changed my mind at all since my June 1 post. The Daily Sentiment Index showed only 5% bulls on the S&P 500 as of Friday, so I'm not surprised at all that we're seeing a rip-your-face-off rally with all the short-term players leaning the wrong way. How long it lasts, who can say...I was looking for a rebound back to 1335 on the S&P 500 (it's back to 1307 now), but if it goes higher than that, it's all gravy to me since I've been positioned long of late. It doesn't change the intermediate-term bearish outlook at all as far as I'm concerned. The job of this rally is to squeeze the shorts and sucker people back in before the next shoe drops.
Here's what I said on June 1:
1285 on the S&P now...I suspect we'll see a short-term bottom within the next week (probably in the 1250-1275 range) [update: the low thus far was 1267] which will set up a counter-trend bounce back up to the low-to-mid 1300s, which means it's probably worth gritting your teeth and hanging on for a rebound, as sentiment is very negative here and the odds of a bounce are growing. Materials stocks are outperforming today as some people are jumping the gun on QE3 speculation.
I think the upcoming counter-trend rally will just set us up for an even bigger decline later in the year, though, and will probably be investors' best and last chance to sell at respectable levels.
"counter-trend bounce back up to the low-to-mid 1300s"
This is just crazy. The low estimate among 20 analysts surveyed by CNNMoney is S&P500 at 1290. Consensus is S&P500 at 1431 by year's end. Seems crazy with everything looming and with the global economy turning over. What are these guys smoking?
