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George Acs  

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  • Free Falls Are Fun, Until They Aren't [View article]
    I'm wondering if any of this morning's trades will be reversed, but there would probably have been word of that by now.

    In the pre-opening market HFC traded down to $35 on what was likely a computer driven trade, as it was for 702 shares. People, when they're in panic tend to deal in round numbers.

    I'm still amused to hear anyone say, as Jim Lebenthal did today, that in August the portfolio managers push the sell button and go to the beach.

    I don't think that's the case, especially given Friday's trading and last nights futures. But if it is, I would run as far as possible from that portfolio manager.

    I think the deluge this morning was from lots of mutual fund redemptions getting satisfied. We may see more of that tomorrow if the market weakens into the close, but I don't think the bargains will be anywhere near as pronounced tomorrow morning if it does.
    Aug 24, 2015. 02:14 PM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    You have to wonder how many of those orders went in before Friday's close and also after Friday's close, not to mention how many may have gone in during this morning's early trading.

    Whatever it will be, I doubt that the inflow of new funds or buy orders on the bounce higher in the late morning & early afternoon will come anywhere close to offsetting those sell orders that hit the exchanges today.

    Beyond that, who knows how many are going to look at today's bounce as a gift of an opportunity to get out with a little bit less of a loss?
    Aug 24, 2015. 01:24 PM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    I hope that's not the case.

    I think that if somehow the FOMC was able to convene an unscheduled meeting of any sort in response to stock market gyrations, that would send a very bad signal to markets.

    While the market might like the idea of a delay in rate hikes, the decision itself might be irrelevant. It's the need for the unscheduled meeting that would get nerves further frazzled.
    Aug 24, 2015. 01:20 PM | 1 Like Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    I guess your perspective is definitely colored by how much free cash you have at the moment versus how much you are being held hostage by a sudden drop.

    Of course, then there are also those feeling the pressure of a margin call. When you hear reports that margin levels are at all time rates you can easily see how that could grease the decline going into the close that some people will still need to raise money before the day is done.

    Add to that people sending in sell orders to their mutual fund companies and everyone's perspective can change on a dime again.
    Aug 24, 2015. 12:17 PM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    I surprised myself (and subscribers, too), after writing this morning that I was very unlikely to open any new positions this week and would wait for others to be the brave ones.

    So far I've picked up shares of SBGI and GE, but am not too likely to do more. What I'd like to do is be able to spend the rest of the week selling calls on uncovered positions and taking advantage of the increased volatility, but that too seems to be ebbing.

    SO far, only one of those sales was able to get made and others are just sitting withering as the market has started some kind of late morning recovery
    Aug 24, 2015. 12:14 PM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    Wait. There are other authors and other metaphors?

    Just how big is this thing you call the internet?

    Somehow, we never see these things coming no matter how hard we have been hit over the head in an effort to get our attention.
    Aug 24, 2015. 10:38 AM | 1 Like Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    On a split adjusted basis I pine for Starbucks at about $24, but still might be willing to pay double that amount.
    Aug 24, 2015. 09:00 AM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    I've been opening fewer and fewer new positions over the past few months, but continue looking for any opportunities.

    I would love Starbucks at $45, until realizing that's still $90 pre-split.
    Aug 24, 2015. 07:39 AM | Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    Yes, it does. I mentioned that in the previous article which included Blackstone. Rather than repeat that information I linked back to the article when referring to it's dividend.
    Aug 24, 2015. 07:37 AM | 2 Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    Emotion and moral or ethical standards don't have too much of a place in investing. Certainly socially responsible funds have had plenty of time to prove otherwise.
    Aug 24, 2015. 07:33 AM | 7 Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    For me, it's not a question of trust or using a company's product.

    I can abhor a company for what it does or sells, but buying and selling shares on the open market doesn't directly benefit or hurt the company. You are dealing with other individuals or institutions when making anything other than an IPO or secondary offering trade.

    I wouldn't use an Altria product, and think that they are horrible, but would still find it easy to buy its shares on the open market.

    I prefer to leave baggage or bias behind and think only about using a stock as a vehicle to make money. For that, Bank of America has been good for me.
    Aug 24, 2015. 07:32 AM | 7 Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    Absolutely.

    I think bottom fishing an entire market is an invitation for more losses. I would generally rather give up some gains and see some evidence of support, but still, it's very hard to resist sometimes.
    Aug 24, 2015. 07:27 AM | 2 Likes Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    Thanks.

    Based on this morning's futures it seems like it was a good idea to not jump in near the end of last week.

    Those bargains are now even better bargains, or are they?
    Aug 24, 2015. 07:25 AM | 1 Like Like |Link to Comment
  • Free Falls Are Fun, Until They Aren't [View article]
    You're right. It's always relative.

    I prefer weekly contracts. However, as volatility is beginning to increase premiums and the market is in correction territory, you start looking at locking into the better premiums for longer periods of time to wait out any further price drops.

    In the case of MET some consideration could be given to the November 2015 option, which encompasses the next dividend and earnings.
    Aug 24, 2015. 07:23 AM | Likes Like |Link to Comment
  • Predicting Is Hard Business [View article]
    I've tried explaining to my wife that I'm much less apt to misunderstand what she says if I simply don't listen.

    The logic was lost on her, but at least I can still get a wi-fi signal in the basement
    Aug 23, 2015. 05:02 PM | Likes Like |Link to Comment
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