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Thread: justbizness45's Account Talk

  1. #13

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by luv2read View Post
    and THAT is a conflict of interest. He needs to resign from the board if hes running for Congress, especially with the contract up for renewal. Time to contact the Ethics Committee - he's involved with contractual decisions regarding federal employees retirement - including his own.
    Not be a stick in the mud because I would like him to resign and not get elected, but those rules would not apply until he is elected, right? Currently he is a private citizen sitting on one of many boards (you should read his resume) and running for public office.

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  3. #14

    Default Re: justbizness45's Account Talk

    There's a fine line and I think the problem is the potential for influence.

    I've read the resumes of all of them. Boring read unless you are looking for "connections."

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  5. #15

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by luv2read View Post
    There's a fine line and I think the problem is the potential for influence.
    Agree with that, I don't think he should be voting on anything that effects his potential retirement.

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  7. #16

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    Default Re: justbizness45's Account Talk

    My original plan was to wait for a test of or near the mid July lows but that may not be a long enough wait. It's so unfortunate the market is so focused on oil. I am not planning to make a jump back in until the affects of Gustav and depending on impact Hanna roll through. Oil though, seems to be a short term impact lately causing rapid spikes up or down. With only 2 IFTs it is hard to play.

    Longer term in my estimation is the finacials. They have been pretty sneaky lately about taking over banks on week ends or when the market is closed. Last Wednesday's (I think it was Wed) report listed 117 banks in trouble. The average failure rate is 13% of those making the list(per MSNBC). If a major bank fails on or before Tuesday, all bets are off. That combined with oil could give Braveheart his 1000 point drop.

    The bottom line is I am sitting safe in G until these things play out. So the earliest I can see myself back in stocks is COB Wed. I hope whatever happens the July lows hold.......... Then again, read Lady's post on pessimism and fear. Have a great weekend. JB45

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  9. #17

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by justbizness45 View Post
    Last Wednesday's (I think it was Wed) report listed 117 banks in trouble. The average failure rate is 13% of those making the list(per MSNBC). If a major bank fails on or before Tuesday, all bets are off. That combined with oil could give Braveheart his 1000 point drop.
    I see on Show's thread that the 10th bank of the year failed in GA as announced today. It wasn't all the big a bank but is still not what I wanted to hear.

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  11. #18

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    Default Re: justbizness45's Account Talk

    Maybe some good news for the market, from Bloomberg.com below:

    Also here is a link from Grand Isle, LA. http://www.kcra.com/video/17358269/

    [quote] Oil, Gas Fall as Hurricane Gustav Weakens, Easing Damage Fears

    By Grant Smith and Alexander Kwiatkowski
    Sept. 1 (Bloomberg) -- Crude oil fell to its lowest in more than four months after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries.
    Gustav has been downgraded to a Category 2 hurricane, the second-weakest of the five strength levels, the National Hurricane Center in Miami said in its latest advisory. Preparations for the storm closed 96 percent of offshore oil production and about 10 percent of U.S. refining capacity.
    ``The latest forecast shows that while Gustav is perfectly aimed at the heart of U.S. oil and gas production, it's not quite as strong as was initially feared,'' said Mike Wittner, Societe Generale's London-based head of oil research. ``The refining system is not as stretched this time round, compared with Rita and Katrina.''
    Crude oil for October delivery fell as much as $4.83, or 4.2 percent, to $110.63 a barrel in electronic trading on the New York Mercantile Exchange, and traded at $111.05 at 3:24 p.m. London time. It earlier rose as much as 2.2 percent to $118.
    The contract is at its lowest since April 11, having lost 25 percent from the record of $147.27 a barrel reached on July 11.
    Natural gas for October delivery fell 46.6 cents, or 5.9 percent, to $7.477 per million British thermal units at 3:38 p.m. London time.
    Gulf Coast refineries have cut at least 1.56 million barrels a day of production, about 9.8 percent of the U.S. total. Gustav, packing winds of 115 miles an hour (240 kilometers an hour) was 75 miles south of New Orleans at 10 a.m. New York, according to the National Hurricane Center.
    Workers Evacuated
    Still, Gustav is two categories below the peak strength reached by Hurricane Katrina, which sent oil prices to records after wrecking refineries around New Orleans three years ago. Katrina's intensity was greatest over the gulf, where it damaged rigs, platforms and undersea oil and gas pipelines. It then weakened to a Category 3 hurricane before reaching land.
    Workers from more than 70 percent of the platforms and rigs in the gulf have been evacuated as Gustav approaches, the U.S. Minerals Management Service said in a statement on its Web site yesterday. About 1.25 million barrels a day of oil and 6.09 billion cubic feet of gas have been shut, or more than 96 percent of offshore oil output and 82 percent of gas production.
    The Gulf of Mexico normally produces about 1.3 million barrels of oil and an estimated 7.4 billion cubic feet of gas a day, according to the Minerals Management Service, part of the U.S. Interior Department.
    Nymex electronic trading opened early today to allow traders to respond to Gustav. Trades will be recorded as part of the Sept. 2 session because of today's U.S. Labor Day holiday.
    Brent crude oil for October settlement was down $2.46, or 2.2 percent at $111.59 barrel on the ICE Futures Europe Exchange.
    To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net; Alexander Kwiatkowski in London at akwiatkowsk2@bloomberg.net
    Last Updated: September 1, 2008 10:51 EDT [quote]


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  13. #19

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    Default Re: justbizness45's Account Talk

    Anyone want to give me lessons on making my avitar show up on the MB? I've tried a couple of times and failed.

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  15. #20

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by justbizness45 View Post
    Anyone want to give me lessons on making my avitar show up on the MB? I've tried a couple of times and failed.
    Fixed on my own. Followed the instructions, duh.

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  17. #21

    Default Re: justbizness45's Account Talk

    Good job!
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  19. #22

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by justbizness45 View Post
    The bottom line is I am sitting safe in G until these things play out. So the earliest I can see myself back in stocks is COB Wed.
    I'll make a decision in the morning but I am not in any rush. Part of my challenge is that I have to make all my decisions by 1100 ET. I am on the west coast and am in morning meetings 1100-1230 ET every day. So if the market is dropping again tomorrow AM I will probably jump in with the hopes resistance will hold around the July lows or above. Unless there is some really bad news to hold me out. What will probably happen is the the market will go up tomorrow and sell off Thurs/Fri which means I missed my entry and will have to wait. Whatever the decision it will be short term. I guess that is about as wishy washy as it could be. More tomorrow from the true rookie. JB45

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  21. #23

    Wink Re: justbizness45's Account Talk

    Quote Originally Posted by justbizness45 View Post
    I'll make a decision in the morning but I am not in any rush. Part of my challenge is that I have to make all my decisions by 1100 ET. I am on the west coast and am in morning meetings 1100-1230 ET every day. So if the market is dropping again tomorrow AM I will probably jump in with the hopes resistance will hold around the July lows or above. Unless there is some really bad news to hold me out. What will probably happen is the the market will go up tomorrow and sell off Thurs/Fri which means I missed my entry and will have to wait. Whatever the decision it will be short term. I guess that is about as wishy washy as it could be. More tomorrow from the true rookie. JB45
    You certainly don't sound like a Rookie !

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  23. #24

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    Default Re: justbizness45's Account Talk

    Quote Originally Posted by justbizness45 View Post
    I'll make a decision in the morning but I am not in any rush. Part of my challenge is that I have to make all my decisions by 1100 ET. I am on the west coast and am in morning meetings 1100-1230 ET every day. So if the market is dropping again tomorrow AM I will probably jump in with the hopes resistance will hold around the July lows or above. Unless there is some really bad news to hold me out. What will probably happen is the the market will go up tomorrow and sell off Thurs/Fri which means I missed my entry and will have to wait. Whatever the decision it will be short term. I guess that is about as wishy washy as it could be. More tomorrow from the true rookie. JB45
    Well, at 1100 the market was not giving much indication which way it would go so I missed it going down. The S&P 1265 ish (ish is around plus or minus 5 in my book) point has been hit 4 time since 8/8 and held every time including today. I'm thinking that is becoming good resistance barring a major failure. So I am hoping the upside holds off another day but either way I am jumping in marginally tomorrow to ride next week.

    I am still very cautious and trying to stay nimble. 50G/25S/25C by COB 9/4

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