Tag: bailout
Interesting twist to prop up markets
Congress and President Bush signed legislation that suspends the rule requiring retirees over 70 ½ to take withdrawals (RMDs) from tax-deferred retirement accounts, such as traditional IRAs and 401(k)s. This suspension currently lasts for one year, 2009. The intention is to give retirement accounts time to rebound from the difficult economy/market conditions. Please note that you […]
Almost 1T in state pension shortfalls
Observed earlier that 5 large states were requesting 1T from Obama for combined medicare and pension shortfalls; Its now up to almost 1T just for the state employee pension funds alone, to say nothing of the medicare costs of an aging population determined to give voice to its feelings of entitlements. I can almost hear […]
Borrow more to get out of debt: all it lacks is an 800 number and an infomercial
In a sequence of CSPAN broadcasts, Washington insiders expressed their shock—Shock! at the state of the budget disaster in Congress. Senator Conrad, has suddenly discovered just how deep the debt hole that Congressional spending, aided and abetted by an unprincipled administration, has put our children in. Because its our children thathave inherited the mess these […]
Tactical trading: maxpain strategy in oil pays off within a week
closed our tactical trade in oil, using the 2x leveraged oil ETF (DXO). we bought at $2.20 with a .2 initial stop, after oil closed below $30/barrel, and closed the tactical portion of the trade today at $3.45. Thats a little over a 6R win in a week. here are some of the supporting slides […]
US government debt and the first rule of holes
when you realize you are in one, stop digging
Next in line for the bailout, after $1T for the states, is steel
we continue to spend more and more tax money on companies that are making things we dont want to buy at their proce. But remember, its not your money, it’s the government’s money and all they have to do is just decide how you will spend it. And if you wont spend it, they will […]
Historical responses to financial meltdowns (buckle up, it will be a bumpy ride)
Reinhart and Rogoff (2008b), in a recent paper entitled “The Aftermath of Financial Crises.”, demonstrate that banking crises in rich countries and emerging markets have a surprising amount in common. “… Broadly speaking, financial crises are protracted affairs. More often than not, the aftermath of severe financial crises share three characteristics. First, asset market collapses are deep […]
Trading Lesson transcript: the importance of self talk
Trading Lesson: 12/30/2008 Summary: a review of some 5DD and 5DDC setups, and an inquiry into self talk ========================================================== The Trader: COP has a nice chart today. Had my eye on it after you put it on your list of 5DD. Got distracted after it went down a 6th day. Should have watched it […]
Profitable ETF Trading Strategies: Sector Contrarian
There is a new conventional wisdom beginning to emerge from the stock market these days and it says that there’s no way you can make money in a bear market unless you have the good fortune to be an expert market timer and bet against the recovery of the broad market. While it is true […]