Thread: CASTAWAY'S account talk

I am really hoping so. I understand I am the highest bid going in and now have to wait on the bank to accept the offer (it is an REO bank owned property). I don't think there is a chance of getting out-bid, but...

Its actually is a piece of property my father owned in the 1970's, which will give me full ownership of a 9 acre pond/lake that connects with our existing farm. Unfortunately, my wife has no interest in farm life, which is why were have not been hasty to leave Germany. No Green Acres

Looks like the bank accepted my offer on the farm for a ridiculously low bid, and significantly less than its 2007 appraised value (10 acres, house, barns, some pond access for under $36K!) If this is not a sign of desperation for banks to free up their foreclosure liability, what is?

It also looks like my IFT out of stocks wasn't such a bad move either. I would have stayed in the C and S funds, yet needed to reduce my personal risk exposure. I remain confident that the last few days of declines are only short term consolidation, and a significant reversal is due.

It appears the banking crisis is still playing havoc on the markets. Take a sprig of failing banks, throw in a earth-shattering, ground breaking health care system, a dash of unemployment and sour GDP and you have a recipe for investor caution.

Like most of Europe, I find the Germans are becoming more concerned about the overall banking crisis. In talking with neighbors, it is not so much a lack of confidence in their own banking system, but the economic impact of Germany bailing out other countries (Greece, Spain, Portugal). It is a reminder of the economic impact felt by West Germany in equalizing and naturalizing East Germany after the wall came down or the conversion to the Euro. Fears buoy the question, "just how much more pounding can Germany's financial system absorb?" of just how much mo here in Europe The DOW appears to hold strength.

My sentiment is "cautiously" Bullish

Good luck all!

It seems that the kettle is boiling now for more bad news here in Europe. Concerns with a weakening Euro and rising inflation are becoming more and more evident each day. The dollar is once again becoming a safe haven for world currencies and recent declines in the I Fund reflect this movement.

All I can say is that my neighbors who hunkered down and invested early in the dollar are starting to smile a bit more.

I have been very remiss on maintaining my tracker and pulled out of the I Fund weeks ago. I only sat at 80% for a few days before realizing my error. I am now holding in the G Fund after Tuesdays "Mother of all Pull-Backs," but wish I had waited to effect the trade until after today's close. As they say, don't try to time the market. I am confident there will be many more "Mothers" in the coming months, so watching the technicals will become extremely critical.

How's the farm purchase going, Castaway? Everything closed without discovery of liens, etc? I hope that is going well for you, too.

Well grandma, we have had to extend the closing date twice now due to an issue with an old water well abandonment not being filed with the county environmental office. Seems someone drilled a new well a few years back but never recorded the capping of the old well Then make matters worse, someone back-filled the well pit with dirt and buried all the evidence (hopefully they didn't bury any thing else in the pit

Since I agreed to purchase the property "as-is," I am liable for mitigation of code and ordinance problems. I am still within the estimated closing costs, so not overly concerned. All other technical's passed inspections and the deed is unencumbered, so hopefully we will close this Friday.

Additionally, I was just notified by a local oil drilling company that they are reopening a previously defective well on my adjoining property. From what I gather, they are pumping again. With my lackluster performance of my latest IFT's, I could use some oil revenue!

Now wouldn't that be keen !

An oil producer amongst us !!

We will all hope FOR you !!!

Unbelievable ride down yesterday! I couldn't sell fast enough and the sudden avalanche took took out several of my trailing stops like a kid in a candy shop. I recovered a few lost dollars but the damage to my Ameritrade account was significant. Unfortunately, now I am on hold as my transactions settle, sweating today's volatility trend.

My urge is to move to F Fund, but with such a major market correction a recovery bounce is due. I just hope it has the momentum to recoup some losses I suffered jumping back in to stocks. I am very surprised that folks are not adverse to jumping in to the I Fund. From over here in Germany, fears of the Euro collapsing are running deep; a longing to return to the DM.

Best news of the day is I just closed on the farm property free and clear. I may now be broke, but at least I have a lot to set up my tent on

Best time to buy is when there's blood in the streets.

Where abouts in Germany are you? I spent my time over there as a military brat when I was in high school in Karlsruhe in the mid 60's.

Congrats on the close. Its a good feeling isn't it.

I dedicate this to you:

Green acres is the place for me.
Farm livin' is the life for me.
Land spreadin' out so far and wide
Keep Manhattan, just give me that countryside.

New York is where I'd rather stay.
I get allergic smelling hay.
I just adore a penthouse view.
Dah-ling I love you but give me Park Avenue.

...The chores.
...The stores.
...Fresh air.
...Times Square

You are my wife.
Good bye, city life.
Green Acres we are there.

HAHAHA! Too funny! When my parents bought their farm in 1967, the Realtor/friend had a huge sign painted with GREEN ACRES and hung it on the side of the house. It was quite fitting, as my parents were similar in character to the Douglas' (apart from the fact that my mother did not have a Hungarian dialect). I still occasionally watch the re-runs.

For now we live in Mannheim, yet have lived in Bad Aibling/Tutenhausen, Ramstein and Dexheim. I know that Karlsruhe was where Smiley and Phillips barracks were. A friend here lived at Paul Revere Village in the early 60's, about the time they build the Berlin Wall and was here to watch it come down. I think they closed those kassernes in the late 80's early 90's? You must have been here in the days when there was a Kasserne on every street corner. Not many left anymore.

If the dollar keeps getting stronger, Europe may once again, be a great place to live/work.

YAHOO! Now this is the direction the markets should be heading!

Let's just hope this bounce will keep bouncing so as to recover from last weeks "panic driven" losses.

I didn't think this market was ready to die