Thread: bmneveu's Account Talk

Originally Posted by bmneveu

The blackjack table at The Mirage generously purchased 1 Troy Ounce of .999+ Silver for me from the world famous Gold & Silver PawnShop (Pawn Stars). It's more of a novelty than an investment really. They sell at like 8 bucks over spot price there. Trying to post a pic from iPhone, lets see how this comes out...

Nice! So how long do you have to wait to get into that store? I think I saw on one episode a line out of the door.

Originally Posted by bmneveu

The blackjack table at The Mirage generously purchased 1 Troy Ounce of .999+ Silver for me from the world famous Gold & Silver PawnShop (Pawn Stars). It's more of a novelty than an investment really. They sell at like 8 bucks over spot price there. Trying to post a pic from iPhone, lets see how this comes out...

8 bucks above spot!!!!!!!!!!!!!!! Damn well better be a novelty item

Yea they buy $1 below spot and sell $8 above. Gotta pay that rent I guess.

We got a free parking spot in their lot and walked right in no problem. About 10 minutes after we got there they announced that they would be filming soon and needed everyone to leave. The filming takes about an hour and that's when the line gets going out the front door. I tried to get in that shoot as extras with my wife but they already had enough.

Something I saw that really stood out to me was a circa 1500 a.d. bible priced at a few thousand dollars (somewhere between $3k and $6k, can't remember). I figured something like that would be closer to six figures.

What better time to short than at the top?

Indeed!

Originally Posted by bmneveu

What better time to short than at the top?

Um, which top?

There is no over head resistance - money is flowing like bull tinky. We just experienced day four of a 25-30 day bull run.

Originally Posted by RealMoneyIssues

Originally Posted by bmneveu

What better time to short than at the top?

Um, which top?

Hopefully this one

Market finally has a nice pullback and AGG is down big with it. Can't win.

Originally Posted by bmneveu

Anyone notice this?
Attachment 23423
Here are the moves..
First leg up goes from 1204 to 1423 for a gain of 219 points. (17%)
First leg down goes from 1423 to 1266 for a loss of 157 points. (-11%)
Second leg up goes from 1266 to 1475 for a gain of 209 points. (16.5%)
Second leg down goes from 1475 to 1340 for a loss of 135 points. (-9%)
Third leg up goes from 1340 to 1598 for a gain of 258 points. (19%)
Third leg down goes from 1598 to ____?

At that pace, a 12% correction over about 2 months would make sense. From 1598, that would be 192 points, bringing us down to a bottom of 1406 sometime in June.

If we continued this pattern and topped out at 1687.18 on the S&P today, that would be again of 26% (about 347 points) from the low of 1340 around the end of October last year. Continuing with the trend, retracing ~60% of those gains would be a pullback of 208.2 points, or 12.3%, leaving us at 1479, sometime around the end of July.

Looking at an interesting new mREIT index ETN, MORL. Its got a 2x leveraged dividend, pumping out nearly 25% a year. The chart is pretty ugly but it might find support and buyers at $24ish. I might be one of them. Very risky though. If I get in, it will probably be as long as interest rates stay rock bottom with a stop loss just under support. Then again, does it even matter what the stock price does when the yield is that high?