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Thread: nasa1974's Account Talk

  1. #13

    Post Re: nasa1974's Account Talk

    Quote Originally Posted by nasa1974 View Post
    OK, Now I probably should do some research but being a newbie maybe one of you old timers have the answers. Are the members of the of the TSP board picked by Congress? Does Congress have to approve any changes to the rules that cover our TSP? How many Congessmen and Senators are day traders? Really do not expect an answer to that one. My guess is that the board members are government employees or contractors to for the Government. If so why can't we ask the IG's office to investigate any wrong doing. That is what they are for. I am no lawyer but what the board has done does not pass the commen sense rule. If it looks like dog s*** and smells like dog s*** it must be dog s***. And instead of petitioning the board (they don't care) it is an election year and 4,000+ unhappy government employees = many votes for a presidental hopeful. Just some ideas. "Force field up again."
    Nasa1974, No flame necessary. I read your questions earlier this morning
    on a different thread. Although I didn't have an answer at the time, the
    questions were extremely valid. So, to answer your questions I can only
    point you to the best location I could find for ya. Click on the link below;

    http://www4.law.cornell.edu/uscode/5...84_40_VII.html

    Oh yes, one more thing. Stop calling yourself a newbie and stop calling
    us the old timers. Hell, I could be younger then you, say, 22 years old.
    (Well, I can make believe, can't I)
    Your respect is appreciated, we're all hear to learn and help one another
    make some well deserved $Cha-Ching$ (Not Yen, Only USdollars allowed).
    Stick around and don't bail out on us and "they will come".

  2.  
  3. #14

    Join Date
    Apr 2008
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    Cleveland, Ohio
    Posts
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    Default Re: nasa1974's Account Talk

    Haven't posted in a couple of days. Still 60% G, 20% F and 20% I. Made a whole $39 yesterday. Woppie!! Of course Averaging $39 dollars a day wouldn't be all that bad it is just the $200-300 dollar losses thrown in there that hurts. Stay positive and make money.

  4.  
  5. #15

    Join Date
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    Default Re: nasa1974's Account Talk

    Jumped ship yesterday and went all "G".

  6.  
  7. #16

    Join Date
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    Default Re: nasa1974's Account Talk

    I know I am preaching to the choir but this is from the

    Federal Register
    73251 Vol. 72, No. 247 Thursday, December 27, 2007


    SUMMARY
    :
    The Agency is amending its
    interfund transfer regulations to provide
    that the Executive Director may adopt a
    policy of setting limits on the number of
    interfund transfer requests. In the near
    term, this amendment will allow the
    Executive Director to immediately
    address and, if necessary, restrict the
    activity of frequent traders, who have
    disrupted management of the Funds and
    whose activity has resulted in increased
    costs to participants.


    DATES
    :
    This interim rule is effective

    January 7, 2008.

    It appears that the Executive Director set the limits to what the board wanted adopted. The problem I see is that the limited IFT's was not posted for all to see. His limits should have been posted somewhere. Or did I miss something getting into this site sfter the fact?

    The Agency desires to stop this
    excessive trading immediately and also,
    after continued analysis, to design an
    interfund transfer policy that provides
    for administrative efficiency, investment
    flexibility, retirement security, as well
    as reduced trading costs.
    To that end, in the near term, the
    Agency is adopting a regulation to grant
    the Executive Director the authority to
    notify the small percentage of
    participants who are driving up costs
    through their excessive trading and
    request that they cease their practices.
    Otherwise, these participants will be
    required to request interfund transfers
    by mail. It is the Agency’s hope that this
    swift and direct action will inform such
    participants of the unreasonable
    expenses associated with their trading
    and persuade them to voluntarily curb
    their trading, thereby curtailing the
    excessive trading costs borne by all
    participants who hold the C, F, S, I, and
    L Funds.

    Why is the Board calling this excessive trading when WE have the right to do an IFT daily, if we want to. They the Board gave US this privelage to trade daily. Some within the TSP world just was using this privelage to improve their retirement fund. How can this be excessive?

    73252

    PART 1601
    PARTICIPANTSCHOICES OF TSP FUNDS

    
    1. The authority citation for part 1601
    continues to read as follows:

    Authority:
    5 U.S.C. 8351, 8438, 8474(b)(5)
    and (c)(1).

    
    2. Amend § 1601.32, by revising
    paragraph (b) to read as follows:

    §
    1601.32 Timing and Posting Dates.

    * * * * *

    (b)
    Limit. There is no limit on the
    number of contribution allocation or
    interfund transfer requests that may be
    made by a participant. In order to
    mitigate excessive trading expenses, the
    Executive Director may write to any
    participant who engages in excessive
    trading and ask the participant to stop
    this practice. If the participant
    continues to engage in excessive
    trading, the participant may be required
    to request interfund transfers by mail.

    [FR Doc. E7
    25007 Filed 122607; 8:45 am]

    BILLING CODE 676001P

    The amendment still allowed unlimited IFT's to all participants except to those that had excessive trading . But how can it be excessive if WE have no limit to our IFT's? Nowhere posted did the Board say what would be considered excessive trading. If there is no limit to trading what is excessive, 2, 3, 5, 10, 15? What process did the Executive Direcor come up with to come to a decision of excessive trading? Was the decision used on a case by case basis or just set out as punsihment to all of the perceived abussers?

    Just my thoughts and opinions.


    I know I am preaching to the choir.

  8.  
  9. #17

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    10,458

    Default Re: nasa1974's Account Talk

    I know I am preaching to the choir but this is from the

    Federal Register
    73251 Vol. 72, No. 247 Thursday, December 27, 2007


    SUMMARY:

    The Agency is amending its
    interfund transfer regulations to provide
    that the Executive Director may adopt a
    policy of setting limits on the number of
    interfund transfer requests. In the near
    term, this amendment will allow the
    Executive Director to immediately
    address and, if necessary, restrict the
    activity of frequent traders, who have
    disrupted management of the Funds and
    whose activity has resulted in increased
    costs to participants.

    DATES: This interim rule is effective



    January 7, 2008.

    It appears that the Executive Director set the limits to what the board wanted adopted. The problem I see is that the limited IFT's was not posted for all to see. His limits should have been posted somewhere. Or did I miss something getting into this site sfter the fact?

    The Agency desires to stop this
    excessive trading immediately and also,
    after continued analysis, to design an
    interfund transfer policy that provides
    for administrative efficiency, investment
    flexibility, retirement security, as well
    as reduced trading costs.
    To that end, in the near term, the
    Agency is adopting a regulation to grant
    the Executive Director the authority to
    notify the small percentage of
    participants who are driving up costs
    through their excessive trading and
    request that they cease their practices.
    Otherwise, these participants will be
    required to request interfund transfers
    by mail. It is the Agency’s hope that this
    swift and direct action will inform such
    participants of the unreasonable
    expenses associated with their trading
    and persuade them to voluntarily curb
    their trading, thereby curtailing the
    excessive trading costs borne by all
    participants who hold the C, F, S, I, and
    L Funds.

    Why is the Board calling this excessive trading when WE have the right to do an IFT daily, if we want to. They the Board gave US this privelage to trade daily. Some within the TSP world just was using this privelage to improve their retirement fund. How can this be excessive?

    73252


    PART 1601PARTICIPANTSCHOICES OF TSP FUNDS

     1. The authority citation for part 1601


    continues to read as follows:
    Authority:


    5 U.S.C. 8351, 8438, 8474(b)(5)
    and (c)(1).

     2. Amend § 1601.32, by revising


    paragraph (b) to read as follows:

    § 1601.32 Timing and Posting Dates.


    * * * * *

    (b) Limit. There is no limit on the
    number of contribution allocation or
    interfund transfer requests that may be
    made by a participant. In order to
    mitigate excessive trading expenses, the
    Executive Director may write to any
    participant who engages in excessive
    trading and ask the participant to stop
    this practice. If the participant
    continues to engage in excessive
    trading, the participant may be required
    to request interfund transfers by mail.

    [FR Doc. E725007 Filed 122607; 8:45 am]


    BILLING CODE 676001P



    The amendment still allowed unlimited IFT's to all participants except to those that had excessive trading . But how can it be excessive if WE have no limit to our IFT's? Nowhere posted did the Board say what would be considered excessive trading. If there is no limit to trading what is excessive, 2, 3, 5, 10, 15? What process did the Executive Direcor come up with to come to a decision of excessive trading? Was the decision used on a case by case basis or just set out as punsihment to all of the perceived abussers?

    Just my thoughts and opinions.


    I know I am preaching to the choir.


  10.  
  11. #18

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    Default Re: nasa1974's Account Talk

    From what I have been reading it may not be illegal but very close to be unethical.


  12.  
  13. #19

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    Default Re: nasa1974's Account Talk

    It has been a couple days since I posted.
    Been thinking about getting into the IFTracker but with all the charts out there and the different strategies everyone has I think I would rather be a follower than a leader. That and the tracker seems to be a way that the Board can catch the so called excessive users. I think the most IFT's I did in one month was 5 or 6. I better be careful.

    After reading Title 5 and the Federal Register I still can not figure out how they can say someone is abusing the system if we have been given the right to do a daily IFT (no limit). Has anyone from the Board explained how doing a daily IFT is excessive in leagal terms??? Also legally how can the Board restrict so called excessive users but let the rest of us (not excessive users) have no limit IFT's??? Also how can the Board legally refuse someone from using the internet for IFT's if they have had some negative posts?

    Just some thoughts. I know, I know don't rock the boat, right?
    Have a profitable day

  14.  
  15. #20

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    Apr 2008
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    Default Re: nasa1974's Account Talk

    Maybe the moderators should give permission to some of the Board members so they can post instead of being guests and just being able to read.

  16.  
  17. #21

    Red face Re: nasa1974's Account Talk

    Quote Originally Posted by nasa1974 View Post
    Maybe the moderators should give permission to some of the Board members so they can post instead of being guests and just being able to read.
    They wouldn't, even if they could.

  18.  
  19. #22

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    Apr 2008
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    10,458

    Default Re: nasa1974's Account Talk

    I would tend to agree but if they had permission to post they could not complain about not being able to explain their actions. Oh yeah they don't need to explain their actions do us. Do what we say, not what we do. Follow us like lemmings or suffer the consequences.

    Just my opinion.

  20.  
  21. #23

    Join Date
    Apr 2008
    Location
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    Default Re: nasa1974's Account Talk

    This is a comment (edited version) I sent Govexec.com about the TSP restrictions. Both versions on squalebears account. anyway the first versioin was 419 words and you are limited to 400 for your comment. So I amguessing that is why it didn't post. This version is 397. I hope it makes it.


    First off, read Title 5 (that explains the TSP) then read the Federal Register so you understand what is really going on.
    WE the members of the TSP where given, by the FRTIB, a no limit IFT (inter fund transfer). If you wanted to transfer your money daily, weekly, monthly, not at all or anywhere in-between you had that option and ability. Just because some people chose to use their right to perform a daily IFT does not make them abusers nor does it fall in the realm of excessive. WE, all of us, had that right given to us by the FRTIB.
    We are being told that the TSP is for long term investment and I truly believe this. But why not have the opportunity to enhance your retirement fund over a short term. Take advantage of increasing your account to make retirement more comfortable. I have been in TSP since the beginning and deposited 5-7% every pay for the first 19 years. I believed in the system. That first 19 years I had less than 70K invested. Not a lot of money to retire on. Since 2004 I have been able to more than double my TSP because I realized I had that ability to do so. By no means am I a day trader and I do not think I could be. However, I had the opportunity given to me by the FRTIB to perform IFT's on a more frequent basis. Maybe I would do an IFT every couple of days. Sometimes I would sit for a week or two and not do any IFT's at all. I had that ability. Now we the members of the TSP are being restricted in our moves and our ability to improve our retirement fund. The real questions are: Why did the FRTIB feel that some members where abusing the system? What was the real cost to all of us? Why where a select few chosen to be made examples of before the system was officially changed? and finally Who or what is the FRTIB really trying to protect?
    Just because the TSP is a long term investment doesn't mean you should blindly sit back and do nothing. If I would have continued to sit back and let the FRTIB invest my TSP fund, I would be retiring in 4 years with very little in the bank.

  22.  
  23. #24

    Join Date
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    Default Re: nasa1974's Account Talk

    So is the market ready for a short dip? Looking back over the last four months almost everytime that all four funds "FCSI" have shown a profit there has been a smaller profit/loss the next day then followed by a negative return. Going into G tomorrow for a couple of reasons then waiting to place my first IFT of the "new era" early in May. Happy hunting in the "new era".

  24.  
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