I'm about to give you all of my money
And all I'm askin' in return, honey
Is to give me my profits
When I get home
That's all I ask when I invest my money.
At age 16, we idolized football players. At age 25, movies like North Dallas Forty opened our eyes to the brutality of the sport. At age 40, most of us had seen/read enough to categorically deny our kids any chance of playing tackle football.
David- With all the money being printed around the globe, we may well see the parabolic rise in gold prices you've been counting on. You've been 'training' almost two years for something, and that may be it. Life is full of 'payoffs.'
I've been training to stay cool and detached when the prices of the stocks I own get plummeted below the levels I would consider sane or even possible. However, I haven't trained myself yet to stay cool and detached when the prices of the stocks I own rise above my cost basis. :) People say that it is much harder to hang onto a position once it rises above your cost basis...
Exactly. No sane person is able to hold an all-in position during a parabolic rise. Any of us who have traded even small positions in UGAZ recently know it's 'impossible.' So two years of 'training' may be the minimum required to watch oneself become a millionaire in the space of a few weeks.
How many sane people would take an all-in position, not set any stops on it, and then, when it starts moving against them would continue buying on margin, and then when they get close to a margin call, instead of selling would take out the maximum loan against their 401K and also borrow as much as possible from all their credit cards and double their position size? That's what I ended up doing in May, when AUMN dropped below $4. So don't count on me behaving sanely in the future. :)
i can attest to the UGAZ...it's all about entry points with that best. got in at 24, watched it go to 27 and felt good. then watched it plummet to 20 and felt sick then to 26 and felt good again. only to see it dip to 24 so i bailed at a small loss. now it's 40% higher. "waiting is the hardest part". tom petty was a stock market sage.
that sucks man. my brother used to do iron mans when they were living in colorado. the guys he trained with would do training runs through some parts of the mountains that were scary as hell. some of those road bikers have huge cajones...or better yet lack any rational thinking. probably damn good traders too now that i think about it.
Man, I bet that hurt! Talk about luck, my sister once had a similar bike accident(amazingly without physical harm) when she borrowed the bike I had been working on and hadn't re-tightened the front axle nuts....
GE made a 52 week high today. Didn't realize they're now paying $0.68 a share in divs. Buying at $6 a few years ago would be giving you a nice steady paycheck of 11% annually.
http://sports.yahoo.com/blogs/nfl-shutdown-corner/super-bowl-winning-quarterback-jim-mcmahon-says-wishes-192055029--nfl.html
ReplyDeleteAt age 16, we idolized football players. At age 25, movies like North Dallas Forty opened our eyes to the brutality of the sport. At age 40, most of us had seen/read enough to categorically deny our kids any chance of playing tackle football.
My respect to you, 2nd_ave, for being able to grow your money with almost no drawdowns!
ReplyDeleteDavid- With all the money being printed around the globe, we may well see the parabolic rise in gold prices you've been counting on. You've been 'training' almost two years for something, and that may be it. Life is full of 'payoffs.'
DeleteI've been training to stay cool and detached when the prices of the stocks I own get plummeted below the levels I would consider sane or even possible. However, I haven't trained myself yet to stay cool and detached when the prices of the stocks I own rise above my cost basis. :) People say that it is much harder to hang onto a position once it rises above your cost basis...
DeleteI already placed a sell limit for 1000 shares of AUMN at $6, so as to take at least some profit one the shares I purchased this week at 5.15...
DeleteExactly. No sane person is able to hold an all-in position during a parabolic rise. Any of us who have traded even small positions in UGAZ recently know it's 'impossible.' So two years of 'training' may be the minimum required to watch oneself become a millionaire in the space of a few weeks.
DeleteHow many sane people would take an all-in position, not set any stops on it, and then, when it starts moving against them would continue buying on margin, and then when they get close to a margin call, instead of selling would take out the maximum loan against their 401K and also borrow as much as possible from all their credit cards and double their position size? That's what I ended up doing in May, when AUMN dropped below $4. So don't count on me behaving sanely in the future. :)
Deletei can attest to the UGAZ...it's all about entry points with that best. got in at 24, watched it go to 27 and felt good. then watched it plummet to 20 and felt sick then to 26 and felt good again. only to see it dip to 24 so i bailed at a small loss. now it's 40% higher. "waiting is the hardest part". tom petty was a stock market sage.
DeleteAretha is a freaking champion.
ReplyDeletehttp://allstarcharts.com/about-that-underperformance-in-dow-transports/
ReplyDeleteTook a pretty serious fall on the bike yesterday. Freaking hematoma the size of a football on my hip. Needless to say sitting down is not pleasant.
ReplyDeletethat sucks man. my brother used to do iron mans when they were living in colorado. the guys he trained with would do training runs through some parts of the mountains that were scary as hell. some of those road bikers have huge cajones...or better yet lack any rational thinking. probably damn good traders too now that i think about it.
DeleteLuckily I'm a pro and can drink standing up.
ReplyDeleteMCP is one of the better charts I've seen in a while.
ReplyDeleteLooks similar to TC chart to me.
DeleteF - This one's coming back to you, Mark...
ReplyDeleteI hope you didn't break anything, Mark. I myself had an unlucky fall from a bike once and broke my elbow, together with my two front teeth...
ReplyDeleteMan, I bet that hurt! Talk about luck, my sister once had a similar bike accident(amazingly without physical harm) when she borrowed the bike I had been working on and hadn't re-tightened the front axle nuts....
DeletePAL - Big order someone wants to buy the snot out of it but is it a fake order?
ReplyDeleteMCP, hard to believe that this is down 85% in the last 16 months. It pinging back and fourth btw the .50 and .618.
ReplyDelete38.20% 12.51472
50% 11.92
61.80% 11.32528
Mark that sucks, ice baby.
MGIC, trying to hold LT, WTF!
ReplyDeleteGoing ex-div today, should be good entry point.... I would think.
DeleteTVIX - Proceeding with caution.
ReplyDeleteNLY - Has always been a good entry under $17, how much longer will that hold, till QE4-ever is done?
ReplyDeleteSeems like today/this week there's a rush to book profits.
ReplyDeleteGE made a 52 week high today. Didn't realize they're now paying $0.68 a share in divs. Buying at $6 a few years ago would be giving you a nice steady paycheck of 11% annually.
ReplyDeleteThey make a nice NG turbine engine.
DeleteNG - This bird has wings!
ReplyDeleteDECK - Are these boots made for walkin'???
ReplyDeletenew post
ReplyDelete