Saturday, February 21, 2009

Quicksand

That's exactly what this market feels like to me: bottomless, engulfing, and a host of other words. It's getting very hard to find long action, and the trip down through all lines of support in an apparent leisurely, steadfast fashion by the market does indeed flash visions of myself trapped in quicksand, kicking and thrashing all the way. If I could find some branch to cling to, some bit of news to pull me out of this mess, I would be very hesitant to jump back in again.
I'm sure many of us are caught in positions right now that we'd rather not be in, but I am an optimist. I firmly believe that if were are invested in sound equities we can survive this and build some wealth. This may take longer than we initially wanted, but it will come to pass like all other things do in life. If you are not in right now it is best to stay on the sidelines until the bulls are running again. Have a good one,

Roger

4 comments:

  1. Roger
    I have found your posts helpful and informative. I'm in somewhat of a bad position. Owning two bonds one BANK OF AMERICA CORP CALLABLE INTERNOTE, which is down 40%. The other PRUDENTIAL FINANCIAL INC CALLABLE INTERNOTE down 42%. It may be too late, but I would like to dump them. I think B of A is finished in it's current state and will be nationalized or BK. Not sure on PRU.
    5.85 and 5.95 is the current return on them.
    I would really appreciate your thoughts on them.

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  2. @Anonymous
    It's never too late, but I would give at least Prudential a chance. B of A, however, might be one to use caution with for the exact reasons you mentioned. The market itself may be at a pivot point, but the problems with the banks will most likely persist for months, so you might want to look carefully at that note since B of A is a little bit of a question right now.

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  3. What a great service! The picks are not for the faint of heart, but the scanner is super!
    Keep up the good work and congratulations on such a great product.

    ReplyDelete
  4. @John
    Thanks for your comments. I was a just another staisfied customer myself, and decided to do this blog for the people of this interesting software. It has pointed me in directions I never would have found on my own. sometimes signals can be generated after a big sell-off, so sometimes I wait for an entry point and give the sell-off time to finish. Other times I find myself amazed at the AI at work here, generating picks thast seem to go up out of nowhere. Have a good one, Roger

    ReplyDelete