8 replies to this topic

[arbman]

A weekly close with a higher low.

Not before that, I would not even bother thinking about long trades until then, the price rules here and the volume is simply in the direction of the trend, why? The internals completely confirm it.

First of all, if this market wants to go higher, it will have to prove that there is a support somewhere, anywhere is fine, but right now, there isn't anywhere. It is simply falling. Simple is better.

So, if this is the bottom, great! Prove me! Next week if it closes higher than this week with better internals, I will buy it, otherwise, my money is better kept secure where it is. If anything, I would scalp shorts since it is so oversold. But is it really oversold?!? It is all in your mind since this is what you are conditioned with for so many years. The hardest thing is to sell this market short actually...

- kisa

[mss]

It's lonely out there - Welcome aboard mss

[SemiBizz]

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks... "cash" may not be "cash"

[skyymaster]

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks...

"cash" may not be "cash"

I don't have a choice in my 401k. Every money market offered says:

Normally investing at least 80% of assets in U.S. Government securities and repurchase agreements for those securities. Potentially entering into reverse repurchase agreements. Investing in compliance with industry-standard requirements for money market funds for the quality, maturity, and diversification of investments. Investing in U.S. Government Securities issued by entities that are chartered or sponsored by Congress but whose securities are neither issued nor guaranteed by the U.S. Treasury.

and sad part is, this is a US Govt Reserves MM

Risk
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it ispossible to lose money by investing in the fund. The rate of income will vary from day to day, generally reflecting changes in short-term interest rates. A decline in the credit quality of an issuer or the provider of credit support or a maturity-shortening structure for a security can cause the price of a money market security to decrease.

If this becomes a snowball then I am screwed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!111

[norton]

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks...

"cash" may not be "cash"

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Good point Semi. I pulled 200k out of my account yesterday and put it in 90 and six month
CD's at 5.35%, fully insured, peace of mind now.

[redlocks11]

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks...

"cash" may not be "cash"

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks...

"cash" may not be "cash"

Several years ago, I was a subscriber to Martin Weiss' newsletter. He kept urging that any money market fund be a U.S. Treasury ONLY fund, not a U.S. government fund, so there'd be no exposure to all sorts of stuff you wouldn't want.

Schwab has a U.S. Treasury only fund and when I switched over, the customer service rep asked me why I was doing this since the fund had the lowest interest rate. I switched nonetheless. Hopefully, that will prove the "safe" thing to have done.

Redlocks 11

[thespookyone]

Kisa-I hear you! Was long Q calls into this morning, and sold em around two oclock. I sold them for a tiny profit. Didn't like the lack of momentum, flipped and bought puts, hoping to make a small scalp. Wheels fell off-turned into an absolutely no sweat double +. As you said "The hardest thing is to sell this market short actually..." TOO TRUE. Support truly has not shown itself-"hot knife through butter" comes more to mind. There will be no more knife catching attempts for me, as well. Spooky

[arbman]

I bought NDX calls at the open and sold them at the spike, then I waited for the pull back and bought OEX calls, gave quite a bit of the profits back and sold them in absolute disgust. Had I flipped to short when I sold the NDX calls since I was very suspicious of the lack of its leadership, I would've laughed all the way to the bank today. Instead, I now think where I can enter this down trend again since it is too steep now... - kisa

[vitaminm]

I assume by safe you have inspected your broker's keeping of your cash account and/or have gotten your funds out completely... I read the fund description on my broker's clearing account, money market fund...they disclosed 25% in "Financial Instruments - AAA rated" and those CDOs were rated AAA, I could not find anyone at the broker who would deny they had those instruments in their funds. We could easily see those MM funds "frozen" in the next few weeks...

"cash" may not be "cash"

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Good point Semi. I pulled 200k out of my account yesterday and put it in 90 and six month
CD's at 5.35%, fully insured, peace of mind now.

72/5.35%= 13.45 years /u will have 400k