Well the market has been on a nice tear recently based on better then expected earnings and some good economic data. I’m still pessimisstic and actually sold out of some of my recent winners. May regret it but I just don’t see how we’re that much better then a few months ago. Anyways, it’s a gamble either way but I am sitting on piles of cash waiting for the right opportunity to jump back in. I’m still long on RZ and it has already started taking off from it’s low of $1.78.
Stock Zone
Well what a year 2009 has been so far. I also apologize to anyone that was following this site for dropping off the face of the earth but we just recently had our 2nd child and times have been crazy. I haven’t been trading as much as I normally do but I was able to make some nice gains off the rally in March and April. We are now in the throes of 2nd quarter earnings and honestly I’m not sure which the direction the market will go from here. My gut tells me down but there has been some postive news recently to argue that view. Currently I have a large postion in RZ – Raser, a geothermal energy company that has recently been battered down to a 5 year low. I think they have a solid plan and can benefit from the Green Revolution. It’s risky but I’m a firm believer of no risk no reward. More to come later!
Stock Zone
I dipped back into the market last week and am hoping for a slight rally this week with the Obama inauguration. I purchased some C – Citibank and AAPL – Apple.
Stock Zone
I’ve had some decent gains recently and I’ve decided to move into some cash because I think we are due to head down further in the coming weeks as 4Q numbers start coming out. I’ll look to buy if the market drops by 500 points or more. Stocks I may be targeting are TRN, AAPL, RIMM, and STLD. To get the cash, I sold some of my BCE position which has recently netted me a 4% gain. Some may say I’m being skittish but I just don’t think the worst is past us. I also unloaded ETFC at $1.25 today without the TARP news this stock isn’t going anywhere soon. I’ll look to rebuy next week on a down day.
Stock Zone
Well the market ended on a positive note so let’s hope we can keep it going into 2009. I hope everyone has a great new year’s and makes some money investing next year.
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Stock Zone new years
I think we’re going to be seeing the market drop or move sideways into 2009 while people cut their losses to offset any gains in 2008. I just helped my mother make some decisions on what to sell today to help offset her gains. We ended up choosing investments that have held somewhat steady but won’t see any major upside when the bulls return. I convinced her to hold on to her emerging market funds since while they have seen some of the greatest losses, I also expect emerging market funds to rebound the quickest.
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My wife and I have been contemplating refinancing with the recent plunge in mortgage rates. Here’s our story….Our first mortgage is currently 6.125%. We have a 2nd loan from an addition we did last year at 7.75%. What we would like to do is refi both into 1 new mortgage at 4.5-5%. Our issue is what our house will appraise for in this down market. We’ve seen some houses in the neighborhood go for less then expected. We are worried we won’t have 20% equity and might have to pay PMI. The key is the payback period though. Let’s say it costs us $2000 in closing costs but we save $100/month in mortgage costs. This makes our payback period 20 months. In 20 months we start saving a true $100/month. The other immediate benefit is a boost to our cash flow of $100/month. Ideally I want to save more then $100 but it will depend upon the rate and PMI we get.
Personal
Well I wasn’t able to get out of E-Trade at the strike price I had hoped for and now it’s dropped down to a slight loss. There was some news this weekend regarding Goldman Sachs and a potential purchase so I’m hoping for a pop on Monday.
Stock Zone
We’ve all seen the financials take a major lashing this year and in my opinion there are some value buys still out there. One that I’ve been tracking is E-Trade (ETFC). I’m really only looking for some short terms pops in this current environment. Last week I bought 900 shares for $1.14. I initially expected to exit around $1.3o/share for a quick profit but have decided to wait and see if I can get a larger boost when they distribute more of the TARP funds. I don’t see much downside past $1.14 and it has been trading between that and $1.30. Time will tell.
Stock Zone
In these tough economic times, I find it refreshing to be able to express my thoughts and views on where our economy is headed. I like most individuals am feeling the stress of watching my investments decline and am trying to make head or tails of where we are headed. I’ve taken the mentality of trying to trade the market recently and want to share my strategies with others who might be interested.
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