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View Full Version : U.S. Issues Tokyo down almost 2%, Hong Kong almost 3%


petegz28
08-07-2011, 08:37 PM
30 treasury yields are rising, dollar is sinking, oil is off almost 3% , gold hit $1690.

Going to be interesting to see what happen when Europe opens.

Dave Lane
08-07-2011, 08:38 PM
Awesome payback time!

Lets play chicken with the debt again

Chocolate Hog
08-07-2011, 08:39 PM
Awesome payback time!

Lets play chicken with the debt again

Dumbass.

petegz28
08-07-2011, 08:41 PM
Awesome payback time!

Lets play chicken with the debt again

It'snot that a game of chicken was played, that was actually a good thing really. The thing is the plan decided on still adds over $7tril in spending over the next 10 years. It was a smoke and mirrors gig. We got the double fuck. Not only did we get downgraded, we are spending more. I think it would be an easier pill to swallow if we got downgraded and didn't raise the debt ceiling. At least some tangible cuts would be on the horizon instead of this snake oil we were sold.

CrazyPhuD
08-07-2011, 08:42 PM
<iframe width="560" height="349" src="http://www.youtube.com/embed/W4hfdaC7eL4" frameborder="0" allowfullscreen></iframe>

CrazyPhuD
08-07-2011, 08:43 PM
Awesome payback time!

Lets play chicken with the debt again

except the debt battle had almost nothing to do with the down grade, you could argue it impacted timing, but the reason we got downgraded is because our future commitments far exceed our revenues. The current situation is not why we got downgraded. It's like maxing all your CC's and being surprised when no one will give you any more.... We had little to no chance to avoid getting downgraded.

petegz28
08-07-2011, 08:45 PM
It's pretty fucking simple. Quit spending money we don't have. I am sorry if that means some parts of the government have to get shut down, illegals won't be coddled, our troops have to come home, etc. And maybe, just maybe companies like Goldman and GM are going to have to suffer the consequences of their bad business decisions.

petegz28
08-07-2011, 08:54 PM
Gold up $46! Glad I added some gold ETF's to my 401k. At least it will cushion the blow...a little.

CrazyPhuD
08-07-2011, 09:01 PM
Gold up $46! Glad I added some gold ETF's to my 401k. At least it will cushion the blow...a little.

Here's most of my take on this, if you are doing proper investment strategy then you shouldn't be 100% invested in the market at any time. The market goes up and the market goes down.

You buy as the market goes down and you sell as the market goes up. The problem people make is that they hold things too long and try to sell at the top. You always want to have enough cash on hand to take advantage of buying opportunities.

petegz28
08-07-2011, 09:14 PM
Here's most of my take on this, if you are doing proper investment strategy then you shouldn't be 100% invested in the market at any time. The market goes up and the market goes down.

You buy as the market goes down and you sell as the market goes up. The problem people make is that they hold things too long and try to sell at the top. You always want to have enough cash on hand to take advantage of buying opportunities.

I am always 100% invested. Just not 100% in stocks. That's crazy talk there. As of 3 weeks ago I am about 50% cash, 30% bonds, 20% stocks. That's just my 401k. My regular savings are all bonds and cash save a little I have in an REIT at the moment. The problem people make is staying 100% invested in stocks and then when they need the money it is inevitably when the market has sold off. Just ask all the people who thought they were going to retire in 2008.

It's not what you make, it's what you keep.

RINGLEADER
08-07-2011, 09:17 PM
Surprised it's not down more. I got out a week from last Friday and plan to get back in short-term tomorrow.

petegz28
08-07-2011, 09:20 PM
Surprised it's not down more. I got out a week from last Friday and plan to get back in short-term tomorrow.

I wouldn't get back in right now for nothing. Sparingly at best if I did. Once the summer is over then we will see. Right now we are on the path to the basement. I can't find any reason right now to add to my stock positions. I am not selling what I have but I am surely not adding to them at this point.

petegz28
08-07-2011, 09:28 PM
Hong Kong approaching the 4% mark quickly. Tokyo is staying under 2%. We may not get a huge sell off but I do expect selling to hit the tape. It will be interesting to see what happens when Europe gets opened up. It will be more interesting to see what happens when Europe closes and see if buyers come into the market. If they do, even for a short term trade it could be a small sign we aren't going to take it too hard up the ass. If we continue to sell after Europe closes then we could really be in for it big time.

ChiefaRoo
08-07-2011, 09:31 PM
Gold up $46! Glad I added some gold ETF's to my 401k. At least it will cushion the blow...a little.

Do you think Gold is building a bubble due to fear of the current politics in America and the out of control spending? I mean, if we can get a change next year and get some fiscal discipline in place it seems to me it could drop back down 40 to 50 percent.

petegz28
08-07-2011, 09:33 PM
Do you think Gold is building a bubble due to fear of the current politics in America and the out of control spending? I mean, if we can get a change next year and get some fiscal discipline in place it seems to me it could drop back down 40 to 50 percent.

I don't think it is going to take much to burst the gold bubble. Having said that though, as long as the Fed keeps roasting our $, gold is going to go up. People don't understand other currencies so gold is the logical place for a lot of people to go when our $ is getting creamed like it is. Any strengthening in our $ will trigger selling in gold.

petegz28
08-07-2011, 09:37 PM
SP500 futures down about 25 right now. That's about 250 dow points.

ChiefaRoo
08-07-2011, 09:42 PM
QE3 would make it jump I would think. I don't have much faith in the pols in Washington until some of the players get changed in Washington next year. On the other hand I read somewhere that for the world to use Gold as a reserve currency there wouldn't be enough and therefore it would need to jump to somewhere near $50k an ounce which seems ridiculous to me. The Dollar maybe ugly but who would replace it? I see a point where it gets stronger if we get our Governmental act together. I'm looking at using the GLL ETF to short Gold at some point. I just want to get a good entry point.

petegz28
08-07-2011, 09:44 PM
QE3 would make it jump I would think. I don't have much faith in the pols in Washington until some of the players get changed in Washington next year. On the other hand I read somewhere that for the world to use Gold as a reserve currency there wouldn't be enough and therefore it would just to somewhere near $50k an ounce which seems ridiculous to me. The Dollar maybe ugly but who would replace it? I see a point where it gets stronger if we get our Governmental act together. I'm looking at using the GLL ETF to short Gold at some point. I just want to get a good entry point.

QE 3 will make gold jump. Look at the DGL ETF. I am not familiar with yours but that one is about gold bullion and not gold stocks.

ChiefaRoo
08-07-2011, 09:47 PM
Thanks I'll take a look

petegz28
08-07-2011, 09:51 PM
Thanks I'll take a look

It's never an easy game with something like gold. I'd say put a little in now and if you can wait for it to come in a bit. There is bound to be a day or two coming up where peopel are going to take some profits on it. Stewie is the resident gold bug. I'd chat with him if I were you.

ChiefaRoo
08-07-2011, 09:55 PM
It's never an easy game with something like gold. I'd say put a little in now and if you can wait for it to come in a bit. There is bound to be a day or two coming up where peopel are going to take some profits on it. Stewie is the resident gold bug. I'd chat with him if I were you.

I might do it short term. Long term I'm wanting to enter when the bubble pop nears and the price plummets. In the near term I see it going up. I don't know how high though. Ultimately when the US confidence in the economy returns i see Gold dropping quickly. GLL is a short play. The question is when does a guy get in and for how long. Assuming I'm right to begin with.

petegz28
08-07-2011, 09:59 PM
I might do it short term. Long term I'm wanting to enter when the bubble pop nears and the price plummets. In the near term I see it going up. I don't know how high though. Ultimately when the US confidence in the economy returns i see Gold dropping quickly. GLL is a short play. The question is when does a guy get in and for how long. Assuming I'm right to begin with.

That's the hard part. Gold has had such a run up one would think it is pretty much run its course. On the other hand though, the political environment is not doing anything to help bring the cost of gold down. You have to be ready to move fast with something like gold, imo. I usually stay away from it but given the current environment.....it's usually a bad sign when everyone in their brother is telling you to buy gold or trying to sell gold. If you are really wanting to get in I would do just like I said, little now and wait for some pullback. Worst case scenarios are you make a little or you loose a little. But after an almost $50 spike in one day you can bet there is some profit taking on the horizon.

RINGLEADER
08-07-2011, 10:01 PM
I wouldn't get back in right now for nothing. Sparingly at best if I did. Once the summer is over then we will see. Right now we are on the path to the basement. I can't find any reason right now to add to my stock positions. I am not selling what I have but I am surely not adding to them at this point.

Oh, I'm looking to get in and out quick -- funny thing is the flight to quality will be to treasuries -- just watch...

RINGLEADER
08-07-2011, 10:02 PM
It's never an easy game with something like gold. I'd say put a little in now and if you can wait for it to come in a bit. There is bound to be a day or two coming up where peopel are going to take some profits on it. Stewie is the resident gold bug. I'd chat with him if I were you.

This is good advice...

petegz28
08-07-2011, 10:03 PM
Oh, I'm looking to get in and out quick -- funny thing is the flight to quality will be to treasuries -- just watch...

The flight to quality at the moment appears to be Australian bonds. But I do tend to agree with you.

RINGLEADER
08-07-2011, 10:29 PM
The flight to quality at the moment appears to be Australian bonds. But I do tend to agree with you.

If it wasn't for the broader EU problems I would ve heavy in German funds. I do a lot of work there and absent Germany the EU would have fallen apart a year ago...

Param
08-07-2011, 11:25 PM
I am not selling what I have but I am surely not adding to them at this point.

Well if you're not selling, why bother with a thread and negative comments? Seems you have confidence in the market.

rrl308
08-08-2011, 12:29 AM
<iframe width="560" height="349" src="http://www.youtube.com/embed/W4hfdaC7eL4" frameborder="0" allowfullscreen></iframe>

LMAO

petegz28
08-08-2011, 06:12 AM
Well if you're not selling, why bother with a thread and negative comments? Seems you have confidence in the market.

Becasue what I have in stocks is minimal and most of it is in large cap companies. Not everyone is in the same boat. I did most of my selling a few weeks ago before all this crap started.

And might I add I added SDS to my holdings which shorts the market. So while I am not "selling my stock" I am hedging the fuck out of it.

ChiTown
08-08-2011, 07:48 AM
My good friend who is in the banking business told me to go to a Cash position two weeks ago - fortunately, I listened. I'll be sitting out for a while. He thinks the market is going to drop below 10K.

petegz28
08-08-2011, 07:51 AM
My good friend who is in the banking business told me to go to a Cash position two weeks ago - fortunately, I listened. I'll be sitting out for a while. He thinks the market is going to drop below 10K.

I think that is a reasonable take. That's only about 1200 points away.

ChiTown
08-08-2011, 07:55 AM
I think that is a reasonable take. That's only about 1200 points away.

I sold part of my business in May and got the money in late June. I have been sitting on it for a while waiting to see what happens. Thank God I did.

petegz28
08-08-2011, 07:56 AM
I sold part of my business in May and got the money in late June. I have been sitting on it for a while waiting to see what happens. Thank God I did.

I wouldn't be in a rush to do anything anytime soon. I am really liking international bonds right now, though. Actually I have been liking them for the last several years. Good yield and relatively low risk.

RINGLEADER
08-09-2011, 05:00 PM
And I'm out again...that was fun... :-)