Wow, $Cost! I remember last year I think your account was upwards of $20MM. Are you saying you're almost double that amount? If so, you are T-H-E-M-A-N. Good to see you're still posting.
Just in case someone missed this gem ! I'm reading this thread from the beginning and DollarCostMan you are awesome !
Feels good to look at positions sold earlier in the week falling hard today.... The list of stocks that I sold throughout the week will get posted tonight......78% CASH Position is where I got the anomaly too....Feels good to be without the paper in name today... $COSTAverageMAN
07-16-07 12:04 PM It's been a while since I last wrote in the old journal and what a year it has been. The Anomoly has just doubled for the year of 2007 and the selling has just begun for me.....I'm not short by any means just going to the sidelines....I hope to be 50% Cash by the end of the day.... GL to all you traders and lets hope the move continues, but 14000 will be with me on the sidelines with at least 1/2 my CASH.... I hope all of you heard the warning and used your head instead of listening to the 14K hype....Countless stocks are down over 10% from my selloff....Feels good to come back to the journal and provide advice that was profitable.....I hope some of you listened $COSTAverageMAN
This was posted in a private message I sent out to a ET member an I believe it is relavent enough to be in the old journal..... All in all the year has been incredible, but I'm extremely worried about whats going on in the corporate bond market....My outlook for the market is biased to the downside and very cautious....Go look at what's going on in the floating rate funds....EVBLX and FFRHX they are getting their heads cut off....The problems I see with this corporate bond problem is : 1. LBO's come to a massive slowdown.. 2. Corporate Buy Backs funded by floating bonds are going to slow down... 3. Trillion's of $'s in bond holders are losing money on their positions and could create a panic of some sort. 4. Cap. Ex. funded by bonds of corps. will have a harder time creating double digit growth out of new expendetures with these new rates.... This is a much longer term problem than anyone else is talking about and I can be patient to wait on US investments. Watch that Yen carry trade unwind.....Ouch $COSTAverageMAN
S&P 500 at 1st level of resistance of 1462.... Next level to hold if we break the 1st level is 1438....If that break's watch out below all the way to 1359..... Just one man's thought, but we are holding the 1st level going into the weekend......A gambler would be buying, but this old man is just watching from the sidelines and only taking selective trades for the moment....No buy and holds for me at this time.... $COSTAverageMAN
03-14-07 01:53 AM HAPPY BIRTHDAY TO ME (3/14/1938) 69 years young and healthy as a horse!!!!! My 20 largest Short position are CCRT, MCO, CORS, MHO, MTH, SPF, BLG, NDE, NFI, NEW, LEND, FED, FMT, AHM, BKUNA, IBCP, LAB, RATE, HKF, IVC (Mostly lenders of credit and homebuilders with some banks)...Pretty much the same thing everyone is shorting if they could get a fill . Not that shabby of a short list posted back in March....Looking back I should call it my a birthday present to Elite Trader....Heck 2 of the 20 are all ready delisted....And I don't think AHM (American Home Mortgage) is far behind....BTW that position was closed today.... (I have been short since the 30's, but it got posted around $22....) $COSTAverageMAN-----Always trying to avoid those stocks that go from 30 to 1. ....But who wouldn't short it with a name like that.....At least Indymac got smart and changed the ticker symbol from NDE to IMB during the middle of the short onslaught of that stock....
What a short squeeze.....All I got to say is XOM, T, AA, UTX, AIG, INTC, AXP and CME.......All trades taken around 3:25 today....All closed as well....Almost 1/2 m net on the trades.........What a close.......Still sitting back with around 84% Cash in the portfolio, but 20 m went in and 20.5m came out today...... $COSTAverageMAN