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Land of Milk and Honey
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Individual investor. Generally using index Mutual Funds or ETFs. Trying to diversify more (foreign in particular). Pick up tips & concepts, & learn more. I'm at alpha to keep a finger on the current moods & predictions... and so I notice up coming big financial news events before... More
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #34 190 comments
    Aug 4, 2014 7:29 AM

    I've set up this blog ...as a community place to share our investing ideas. Hopefully so we all gain more ALPHA!! It's a great way for my contacts to talk to each other at the same time, not just to me :).

    .

    All topics welcome. Investing, stocks, bonds, commodities, economy, politics about economy, and social (so we know who we're talking with). Please invite other investors! Stop by once in a while, or hang out all the time. Please post your questions, make a joke, or share your insights with us!!

    .

    My money has done well since I started this blog... so I'm hoping it adds value for everyone!

    .

    Only rules of the road are not to insult others, so state your view but don't call others names or put them down. Every view is valuable, if only to convince you, you are right!

    .

    This is Chapter #34. As the instablog gets long, I'll create a new blog & post a link at the end of the comments. Here's a link to the prior, #32: seekingalpha.com/instablog/11150861-land... (I've been putting in the right links, but sometimes this doesn't seem to work correctly. You can always go to my profile, then to my instablogs, and find the latest.)

    .

    Links

    Regular poster Fear & Greed has instablogs outlining his ideas which are great! -- also SA articles!:

    Interesting Times has a fun Portfolio Challenge:
    seekingalpha.com/instablog/5038891-inter...-8

    Also his regular instablog: seekingalpha.com/instablog/5038891-inter...-50 It's more oriented to precious metals, & economic concerns (worries) than mine.

    As for the regular posters, you'll get to know us, if you hang around!!. Several have their own instablogs with their ideas outlined well!

    Disclosure: The author is long SPY, IWM, DIA, QQQ, LINE, CVX, F, TOT, MU.

    Additional disclosure: ...and more... ask me if you're curious!

Back To Land of Milk and Honey's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (190)
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  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » .

     

    Market's making new highs, just dip a little...

     

    what ideas do you have for how to play it now for good entries for long term... or for shorter term plays?
    4 Aug 2014, 07:33 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    To newcomers, we've moved to a new chapter 35, so feel free to join us there!
    http://seekingalpha.co...
    11 Aug 2014, 11:12 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    http://seekingalpha.co...

     

    I don't like these names, apparently neither does the street
    4 Aug 2014, 09:49 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    http://seekingalpha.co.....

     

    I don't like these names, apparently neither does the street.
    4 Aug 2014, 09:49 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    Yep, the deep sea oil drillers are still down. Many of them pay a nice div to wait. It is an out of favor sector, overall.
    4 Aug 2014, 09:59 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    Are you buying any of the deep sea drillers? Or focusing elsewhere?
    5 Aug 2014, 08:44 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L,

     

    Nope.
    6 Aug 2014, 09:18 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    Pretty good news for (RIG) - so much for the "street" view

     

    http://seekingalpha.co...

     

    for those that dont want to go to the link

     

    Transocean (NYSE:RIG) +2.9% premarket after its Q2 earnings rose 91% Y/Y and easily beat Wall Street consensus, helped by higher dayrates and reduced operating and maintenance costs.

     

    Total average dayrates during Q2 increased to $410K from $382.8K in the year-ago quarter, but overall fleet utilization was 78%, down from the year-ago utilization rate of 80%.
    7 Aug 2014, 09:12 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    There are some opportunities out there, but caution is advised. Dow, S&P, Nasdaq were higher at the open but now headed down.

     

    I sold a few stocks this am, taking advantage of the bump up.

     

    Long term I'm still very positive, but we will still have a bit of a bumpy road short term.

     

    (NASDAQ:PSEC) & (NYSE:PTY) holding up today.
    4 Aug 2014, 11:03 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    Maybe what caused investors to take some off the table today was the news that Buffet has amassed even more cash now then he had in 2008.
    4 Aug 2014, 11:04 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    BSF,

     

    I'm sure that's about as relevant here as Seth Klarman, Stanley druckenmiller, Wilbur Ross.........
    6 Aug 2014, 09:19 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    Blue,
    (NYSE:AAP) (NYSE:LAZ) & (NASDAQ:MU) , all with a slight bounce today ...

     

    some of the oil names that were hit hard last week also positive (NYSE:CXO), (NYSE:WLL) (NYSE:PXD)

     

    lets see if they hold ..
    4 Aug 2014, 11:15 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue, FG

     

    I've been out but just looked & left everything alone since I just bought several (NYSE:TOT), (NYSE:F), (NASDAQ:MU) (NYSE:SAN), and they got a nice bump today (still down from my buy-in), and I'm hoping for long term hold on several.

     

    (NYSE:CVX) is down easily 5% off the high- so it's not holding value with the oil names.

     

    I opted not to get back into (NASDAQ:PSEC) the other day when it was down. My BDCs are doing poorly. I'll wait till interest rate news takes it's hit on them. These did well on recovery from the banking industry hit, but articles say they don't have as much room to perform as exceptionally from here.

     

    Macro -
    I did just sell (NYSEARCA:IWM) for that short term trade.

     

    .85% gain, maybe could have held on for more, but I won't be sitting at the computer to catch it. Still it was a nice return for a day.
    4 Aug 2014, 04:44 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,
    (NYSE:CVX) rallied from 120 in April to 135 , consolidation in an LT uptrend ..

     

    I added more (NYSE:F) under 17 last fri-- totally oversold here..

     

    (NYSE:TOT) is also way oversold -- that is a good pickup
    4 Aug 2014, 04:50 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » F

     

    (NYSE:CVX) - I hadn't thought about consolidation. It did have a nice run; I got spoiled with it. Pays interest too.

     

    My (NYSE:F) is 4% down - I bought just before all of this. I'll collect the interest while I wait...

     

    4 Aug 2014, 05:05 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    Loan demand is picking up, something that I have noted reading regional bank earnings reports.

     

    The FED's quarterly survey of senior loan officers confirms as much:

     

    Quote:
    "The July survey results showed a continued easing of lending standards and terms for many types of loan categories amid a broad-based pickup in loan demand. Domestic banks generally continued to ease their lending standards and various terms for commercial and industrial (C&I) loans. . .Banks also reported having experienced stronger demand over the past three months, on net, for many more loan categories than on the April survey."

     

    http://1.usa.gov/1ltdBbw

     

    This report gave a boost to equities, but not to regional banks.
    4 Aug 2014, 02:28 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    South,

     

    a good sign and it matches the words that I have read on Scott Grannis blog from July 14th

     

    "Since the end of last year, C&I Loans are up by about $130 billion, for a 16.5% annualized growth rate. "
    4 Aug 2014, 04:23 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    Nice rebound this afternoon, but some stocks are still being punished.

     

    I sold (NYSE:CLX) early this am & looks like it was a good decision.
    I owned (CLX) for about a year & got tired of the lack of upside, with not enough of a dividend to make it worthwhile to hold it.

     

    I've got a mix of mostly dividend stocks & some growth stocks, seeing more ROI lately with stocks like (NYSE:MCK) (NASDAQ:GILD) (NASDAQ:TSLA) (NASDAQ:CELG) (NASDAQ:SWKS) (NYSE:FL) (NYSE:M) (NYSE:BUD) (NYSE:LMT) (NYSE:NOC) (NASDAQ:PCLN). The income from stocks like (NYSE:PTY) (NASDAQ:PSEC) (NYSE:KKR) (NYSE:BX) (NYSE:MAIN) (NYSE:OAK) (NYSE:TCAP) (NYSE:NLY) etc. helps me get fresh $ every month to invest.

     

    Got to get better at harvesting gains....and then buying more when the market dips.
    4 Aug 2014, 04:08 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue

     

    You're thinking you need to harvest gains more... I'm thinking I need to learn to buy on dips. I finally started to this time (we'll see how that goes). ...we're both improving :).
    4 Aug 2014, 10:06 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    Blue,

     

    a good day across the board -- with the russell having a good session , beating all other avg's on a percentage basis for the day.......

     

    it now seems the major indexes put in a "short term line in the sand "

     

    DJIA 16437
    DJ Transports 8058
    S & P 1916
    Russell 1107

     

    When those levels came into play today--- and held, the market snapped back -

     

    In my view those levels need to be watched especially if the traders want to play "turnaround Tuesday" :)

     

    of course all of this is "short term stuff" and can change with a Knee- JERK reaction from the traders on the next Headline......

     

    Meanwhile

     

    (NYSE:PXD) up 2.8%
    (NYSE:CXO) up 3.3%
    (NYSE:WLL) up 4.2% - they had a blowout quarter-- reported last week, and sold off on it !!

     

    this one will see a triple digit print in the future..
    4 Aug 2014, 04:40 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » .

     

    What's "turnaround Tuesday"?

     

    The other indices are near their highs, but Russell is still quite a bit off it's top.

     

    Your thinking (NYSE:WLL) will see a triple digit value in the future...
    4 Aug 2014, 04:48 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    Turnaround tuesday is just that - meaning a reversal of what takes place on Monday ......

     

    There was a period a while back where mondays were very weak - but recovered all of their losses on the next trading day ---

     

    it's really a meaningless term.

     

    Yes I do think (Wll) will go to 100 -- 6th straight quarterly beat on earnings and they just raised production guidance , calling for 20% growth..
    4 Aug 2014, 05:57 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    Well then (NYSE:WLL) will just have to pull back for no good reason, so I can jump into it!!

     

    ...I remember Tuesday's being the day investors woke up & put Monday's research to work and bought. ...it'll be interesting to see if it turns into Monday's research leads to taking profits on Tues.
    4 Aug 2014, 10:04 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    in the energy patch - the recent headline that (NASDAQ:LINE) bought properties from (NYSE:PXD) is a big positive for them -- and it will solidify their balance sheet and distributions .. If not for the "down" day today LINE would have opened higher on that news..

     

    another name (NYSE:CXO) reports tomorrow-- its down today @ 138 so keep an eye on that one as well , they have also had huge increases in production growth in the last year ..

     

    I think u will get your chance to get into an E & P name , on weakness -- the 50 day MA for (NYSE:WLL) is around 80 , (CXO) has already breached it's 50 day and tomorrow's report will determine the next move -- I'd like to see it trade down to the mid 120's where i believe it would be a great buy ... and would add to my position , unless they have disturbing news on their report..

     

    be patient here ..
    5 Aug 2014, 09:59 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    Just got in, and it's a lot of red! On the MA for (NYSE:WLL) & others, good to know. I was thinking of waiting to see if this starts a real dip (market in general)... so those technicals are encouraging to know.
    5 Aug 2014, 01:57 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    l,
    also with this latest dip apparently on some geopolitical noise.. im watching the averages and those short term levels that i mentioned

     

    DJIA 16437
    DJ Transports 8058
    S & P 1916
    Russell 1107

     

    Dow, dow transports , and S & P have already breached those -- so selloff is underway
    5 Aug 2014, 02:10 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    that seemed to be the trend for a while , now its the other way around as u mentioned

     

    looking at the futures it appears a lower open is in order , now we'll see just how low the averages dip during the day and if those very short term numbers i posted above hold..
    5 Aug 2014, 09:02 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    Now, that SPX 1940 has been breached, there's no real support until 1880, so if technicals have anything to say, we're blowing off another 60.
    5 Aug 2014, 09:16 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    T,

     

    very possible for sure -- another 60 takes us down 5% or so from the highs ,

     

    I have this feeling that the S & P gives back all of the gains for the year , just like the dow has , which gets us down to 1840- 1850 ... & that's 7% from the high - but to some it will feel like Armageddon has arrived --- :)
    5 Aug 2014, 09:28 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    Corporate data and today's ISM tell me about all I need to know. The present reversal is simply another one of those moments when the market gets in a tizzy and takes its eye off the ball, focusing on anxiety, not data. It's not going to endure.

     

    Note that the 10-year yield is green, which should be another indicator.
    5 Aug 2014, 10:11 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    T,

     

    I would say its how the market responds to news that is key, and that the news itself is less relevant and more a convenient excuse for where markets were prepared to move anyway.

     

    I repeat, this move down is much more about higher inflation data and removal of QE, and resulting weakness in an overheated junk bond market, and much less about Ukraine, which is meaningless in the grand scheme to SPX component earnings.

     

    Ukraine is not new, whatsoever. This is all about a tightening of liquidity, not the anxiety driven emotional sell off, IMO.

     

    In any event, I maintain my notable shorts in VRX, GRPN -- thanks for missing slightly - P, ANGI, YELP, against longs in MBT -- my Russia play -THD, TKC, SCIF, + natural gas, and IWM puts.

     

    The high beta shorts should move more than the stable long group.
    6 Aug 2014, 09:05 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    M:

     

    Just for the record, I don't short stocks, but I like your "trash" shorts, as they are the counterpoint to my value approach. My original problem in various debates related to whether any of these issues are arcane bellwethers for the overall market.

     

    The recent panic attack has afforded a wonderful opportunity to by almost anything in the energy space.
    6 Aug 2014, 11:50 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    T,

     

    I do agree on energy and reloaded my natural gas longs for the coming winter.
    7 Aug 2014, 02:39 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    T,

     

    agreed, the "all u need to know news " is THE backdrop to be aware of....

     

    however would add that I see a trader mentality in play here with all of the other "noise" around---- as i note 3% moves to the upside yesterday on individual names are met with 2-3% moves to the downside, on no specific news...

     

    indicating more churning ...

     

    not many,, but some 'green " names so far (NYSE:F) , (NYSE:AAP) , (NASDAQ:GILD)
    5 Aug 2014, 10:26 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    FG:

     

    Traders always take over when volatility rises and the unwary step up to be fleeced by selling emotionally. Traders, too, like to see the focus on headlines and punditry, not data, especially not the current data.
    5 Aug 2014, 10:30 AM Reply Like
  • astarr66
    , contributor
    Comments (234) | Send Message
     
    Tack,

     

    What high yielders look attractive to you? TOT, SAN was mentioned. Wondering what you have been looking at in any of your usual sectors/countries. Slim pickings in Preferreds. Europe looking a little more attractive. Brazil/Chile have bounced strongly, not super values anymore. Munis, waiting for Puerto Rico to implode for opportunities. BDCs currently weak, but should perform LT in rising interest environment, as Floating Rate funds. Energy/commodities look good in an improving economy and/or inflation.

     

    Long TOT, BP, SAN, VALE

     

    Thanks
    5 Aug 2014, 01:36 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    as:

     

    I am on holiday, so I haven't been scouring the land for new buys and have made almost no change sin my existing portfolio. I would take this momentary weakness to examine and likely add (or add to) any issues that have shown disproportionate weakness, e.g., energy and commodities, in particular.

     

    I don't see any change in overall economic conditions that would cause me to abandon issues that will perform in an expanding economy. I also continue to think that we're not about to see any rapid elevation in inflation or interest rates, so a deployment to various yield issues, e.g., preferreds, continues to seem warranted, presently.
    6 Aug 2014, 12:23 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    Well that was quite a day. (NYSEARCA:IWM) was much less down than the other 3.

     

    SA's news is
    http://seekingalpha.co...

     

    - Polish officials saying Russia may be ready to invade Ukraine, but that was just an excuse.
    - Market character changed recently, with weakness showing.
    - Monday's rise was mostly traders short covering.

     

    My stuff took bigger hits than the indices. What I want to buy, stayed close to green...
    5 Aug 2014, 04:27 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    Usual hysteria, ignoring blowout ISM. Note that 10-year was up much of the day and barely finished red.

     

    Traders will have fun for a little bit, then back to reality.
    5 Aug 2014, 04:32 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    its turnaround tuesday -- LOL

     

    yes its funny to watch the geopolitical news, which then morphs into - "the fed will raise rates sooner " talk -- to all of the other noise out there..

     

    oils took a big hit -- keep any eye on them ...

     

    things that were green today obviously indicate strength -- and should be noted (NYSE:AAP) (NASDAQ:GILD)

     

    a bit more "technical " damage done today --- but i am also seeing many oversold stocks here - that should provide a "bounce "

     

    bespoke seems to confirm that for the dow components

     

    http://bit.ly/1v80d6n
    5 Aug 2014, 05:39 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    "ignoring blowout ism"

     

    Exactly. Exactly. Its the reaction that matters. For many, many months bad data was ignored, and bought. I've thought for a long, long time a large US economic improvement was priced in, and when we saw better data, the market might turn for the worse.

     

    It's the reaction to news that matters, not the news itself. The game..never changes. Study the reactions....

     

    I am long MBT --- Russia -- Ukrainian Telecom, If this is all Russia, why is that stock not getting killed?

     

    Funny, us that have been cautious -- are looking better all the time as the SPX approaches break even for the year.
    6 Aug 2014, 09:15 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    "Funny, us that have been cautious -- are looking better all the time as the SPX approaches break even for the year"

     

    Really !!!

     

    From my commentary above
    I have this feeling that the S & P gives back all of the gains for the year , just like the dow has , which gets us down to 1840- 1850 ... & that's 7% from the high - but to some it will feel like Armageddon has arrived --- :)

     

    That was taken from my last weekly update

     

    http://seekingalpha.co...

     

    SO,,, many are cautious here AFTER they have garnered massive gains by paying attention to what has transpired.....

     

    no one here is in the "all in camp " by any stretch of the imagination by some ...
    6 Aug 2014, 09:43 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Really, then.

     

    What percentage of your portfolio's are cash?

     

    Read my commentary from the spring, when I became extremely cautious on the IWM in particular, near it's highs.

     

    Armageddon talk --- only in your own imagination. It's ebb and flow of markets.

     

    I suggest you put your clients into Groupon, one of my shorts, that is cheaper today.
    6 Aug 2014, 09:51 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    (NASDAQ:GRPN) no thanks

     

    i don't "play" around and "gamble' on Crap like that ...

     

    enough cash to buy into the correction on selected value as it presents itself..

     

    ... thanks for your concern ...

     

    for all of the consternation and angst ---- the IWM is down a whopping 6% from the spring and 7.5% from its high this year--

     

    by definition not even in correction mode
    6 Aug 2014, 10:26 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    M:

     

    Reaction only matters for momentary traders. Eventually, the data always wins. Those, who are investing, not trading, should always pay strict attention to the data and ignore headlines, except to use the convenient panic attacks to make strategic buys, provided that the data continues to be favorable.
    6 Aug 2014, 11:54 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    M:

     

    If one is a true "investor," then I contend that cash is a big mistake, almost always. Cash is an attempted market-timing game.

     

    Investors prosper by making their money work for them all the time, and never more especially so than when interest rates provide zero returns on accumulated cash. The secret isn't to sit shivering with piles of cash; it's to deploy funds astutely, such that returns are generated in the conditions that the market affords.

     

    Those that think they'll somehow outperform the market by hoarding cash and only piling in on some major dip or collapse almost always delude themselves because they won't time events properly and/or get paralyzed when the really big opportunities present themselves. A good example of this are the innumerable posts here in SA from those who were convinced that they should build cash at the end of 2012 and await "better prices." Now, they view a market up 35% from there and are left hoping there's some huge retreat, just so they can break even.

     

    Slow, steady deployment and continuous portfolio adjustment, rather turtle-like, wins the game in the long run.
    6 Aug 2014, 12:07 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    "Sit shivering with piles of cash"

     

    That include such fearful investors like klarman, Buffett, Ross, all of whom have substantial cash piles?
    7 Aug 2014, 12:52 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    (NASDAQ:FSLR) reported a disappointing quarter, stock is down. (NASDAQ:SCTY) is down too, after hours.

     

    I sold (SCTY) a few days ago; they will report earnings soon as well. Hard to tell whether (SCTY) will report a good quarter or not.

     

    (NASDAQ:TSLA) holding up. The gigafactory is being built...still don't know if Musk can deliver, but I'm holding my (TSLA) shares for now.

     

    Mohawk carpets up today, (NYSE:MHK) I bought some shares today. (NASDAQ:REGN) still going higher. (NASDAQ:MAT) was up, also (NYSE:BA).

     

    (NYSE:IBM) took a beating, down to $186 at one point today. So did (NYSE:MCD) but it's up after hours. Could be opportunities with these 2 if you buy while they are down.

     

    Tomorrow will be interesting for sure. Futures are up for now.
    5 Aug 2014, 07:57 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    I've got lots of cash... so I'll take all advice and thoughts on what's happening, and what's good to get into to!

     

    Market is up now - did I miss some good news?

     

    I'm still expecting more dip to come... just a mood thing with the market at the moment (whether from being at highs, or nerves about QE ending, or geopolitical is causing a sense of worry).

     

    ....or is this the turn around point in the dip where liquidity comes in much sooner than the market in years past (like it did all last year)...
    6 Aug 2014, 10:42 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    I've been a further buyer / covering some shorts this morning.
    6 Aug 2014, 10:51 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    no, u didnt miss anything -- just a bounce from oversold conditions..

     

    I'm not rushing into anything here , mainly because i have a decent market position.. --- Who knows what will develop or where the market will eventually level off - S & P 1890 or the 1850 level i mentioned , or maybe this is it ??.. tough call

     

    That being said,, IF you believe the market will be higher in a year from now ( as I do ) , a stock like (NYSE:LAZ) is ok to nibble on -- it has a small 2.3% div ..

     

    I have started to nibble on some things for clients - who have not been in the market -- again all with a LT view in mind .. many issues are way oversold..
    6 Aug 2014, 11:00 AM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Wow. Calling for 1850 -- maybe. Armageddon.
    6 Aug 2014, 11:07 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » F

     

    I didn't buy yet. It started back up. It's off from it's "pop up" this or last month. But that doesn't seem oversold to me? That seems like a correction that was needed, not just in this stock, but across the board. ...that markets heated up a little faster than the info coming in.

     

    Div not for another quarter, so no rush on the part. It's the only thing on sale on my list today...
    6 Aug 2014, 11:14 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    What F's call means, is that both of you have some sense that the market may correct or at least dip more from here.

     

    F's thought is that there'll be investors and pundits who start worrying it's the end of the market. He did NOT SUGGEST that was YOU! And from my observations, a 10% correction would bring that out -- in Marketwatch articles, and in the media.

     

    So, you think the market's going lower, but you're buying today -- so I assume today's buys are for trading? ...or I'm confused about what you read the market as heading towards.
    6 Aug 2014, 11:18 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    my reference to a 7% pullback as "Armageddon" is a poke at all of the bears that have been calling for the demise of the market for quite some time, playing to the 'short side" and have been crushed ....
    therefore IF/when we do get a decent correction they will once again be yelling the bull market is over .. and Armageddon has TRULY arrived ! 
    In my view,---- only to be wrong again !!
    6 Aug 2014, 11:36 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    Thanks for adding that...

     

    M... as I've been saying, FG's been listening to intense attacks on him for ages (long before my blog), for suggesting the market could go higher.

     

    His armageddon comment is about perpetual bears. You've been calling for a correction -- not the end of the market and then world altogether. There is a difference between those. So the comments aren't aimed at you personally.

     

    ...(Not unless you think that in 10 years, we'll all be best off with a nice stash of gold because our money will be worth nothing at all. There is a camp of folks who are very worried like that.)
    6 Aug 2014, 11:47 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH:

     

    "That seems like a correction that was needed..."

     

    Not that it means much, but I am probably one of the few who chuckles a bit about the supposed need for "corrections." When one examines the current rate of profit growth, the expanding ISM, the market P/E's, etc., there is nothing especially "incorrect" that needs "correcting." But, markets operate at mystical levels, where if something happened in the past in certain time frames, then it just has to happen again after a certain time, other factors or valuation measures be damned.

     

    While the economy has been improving, as demonstrated by both corporate results and overall economic indicators, the SPX has been very recalcitrant to expand. That, in itself, is the correction, a horizontal consolidation, while data metrics get better just by the SPX standing relatively still. The subsequent dips we are seeing aren't correcting anything; they're just providing nice buying opportunities for those looking for value plays.

     

    Unless economic data would start to suggest a decline in performance, there's no real need for markets to retreat. They have risen very steadily and do not exhibit any large excursion above the trend line, so perceptions of "overvalued" are misplaced. If the economy continues to expand, and recent data suggests that, markets can continue to rise, similarly.
    6 Aug 2014, 12:19 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    What you say makes sense...

     

    except I'm seeing investors I respect having a hard time finding buys. Which tells me that metrics (data itself) is pointing to a need for a "catching up." Either sideways or by correction. That in fact things are maybe not overvalued, but are fully valued.
    6 Aug 2014, 12:27 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    ...but what do I know, I can't seem to buy a dip when I set out to and it's starring me in the face :). (I HAVE to figure out what's stopping me from figuring out those buy points... it's not fear of decline, but more of an expectation of more down so "I have time and can do it tomorrow.")
    (Just thinking outloud here...)

     

    BTW, I did buy (NYSE:TOT) at 5% off top. It's still down from my buy point, but it's close to even again. ...and I just got it, so there's plenty of time to see it settle on it's future value...

     

    5% div!, and I didn't see anything offputting in it's data, except that it's in France and their economy hasn't been strong...
    6 Aug 2014, 12:30 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH:

     

    Yes, it's now harder to find obvious undervalued plays. But, that doesn't mean that the market is overvalued, just that many more sectors and issues are fairly valued. In such cases, when the economy continues to perform, one must direct effort to harvesting yield and making the more gradual gains that the market affords. There are still lots of excellent yield opportunities in this market, especially with interest rates showing no signs of rising appreciably.
    6 Aug 2014, 12:49 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH:

     

    In the distant past, I, too, outfoxed myself frequently, awaiting lower lows on dips, rather than averaging in. Of course, many times, I missed the dip altogether, as those lower lows didn't appear, and the existing dip got wiped out in a day or two.

     

    Then, I wised up.

     

    Now, when there's an issue that I am open to adding to, if it declines significantly, I'll add a portion of the total amount I am willing to buy, then add more if it goes lower. My reasoning is that no matter which direction it goes, I can't be worse off by having a lower average cost unless I never expect it to rise again. And, why would I be holding any of it, if that were my expectation?
    6 Aug 2014, 12:54 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    in my view you also need to put the investors that are having a hard time "buying right here" into context.

     

    For myself and those who have been in the market for a while and have good exposure to equities , i suggest you are correct..

     

    However, I am slowly putting money to work for those that have limited or no exposure to the market is select issues.. with energy names on top of list ..

     

    as Tack mentioned we can all outsmart ourselves waiting for that precise moment to hit the Buy button,
    as there are rarely 'clear" signs given to do just that ...
    6 Aug 2014, 01:13 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » .

     

    Well I bought 1/2 position (NYSE:LAZ) at %51.11. (Wish I'd waited a few more moments for another .30% of course.)

     

    Less than full confidence in this (since it's not high yield, and it's 24 P/E.) So I may sell on a pop... see how I feel in a few days.

     

    Meanwhile, some good advice and ideas for me to think about here! "Outfox"... yep, I've always been a slow but steady turtle, and that sounds like a good plan.

     

    (With kids at moment; I'll come back later. Thanks for the thoughts - very good ways to absorb!!)
    6 Aug 2014, 04:02 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,
    (NYSE:LAZ) will earn 3.05 in 2014

     

    3.75 in '15

     

    since they have beaten estimates for 5 straight quarters - I have some confidence the estimates will be met so that suggests a PE of 17 ....

     

    I'm looking for mid to upper 50's as a target ..
    6 Aug 2014, 04:39 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L,

     

    Not to personalize this too much, but I have read here attacks on myself, and also directed at legendary investors like Klarman, Ross, Buffett, others, simply for their valuation caution and large cash holdings, as "washed up investors". Laughable!

     

    For anyone to criticize that elite group, when those critiquing have suspect investment credibility, is the biggest joke ever. For those doing so, I ask, what are your results compared to theirs -- bluntly, how much Money have you Made?

     

    I suggest rather listening to the wisdom offered, by these investors.
    7 Aug 2014, 02:17 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    a gentle reminder ,you forgot to take your meds today
    7 Aug 2014, 02:24 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    F,

     

    See below. Typical.....
    7 Aug 2014, 02:30 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    M

     

    Your assertion that none of us has likely outperformed those listed reminds me of the joke about the two guys hiking, who round a bend and confront an angry bear. One of them drops to the ground and pulls some tennis shoes from his pack and starts replacing his hiking boots.

     

    The other says, "what are you doing? You can't outrun a bear."

     

    The first replies, "I'm not outrunning the bear. I'm outrunning you!"
    7 Aug 2014, 04:18 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    The comments weren't at you personally. Now that you've posted this, there will be some.

     

    Please just ignore. This isn't a contest to prove yourself to each other. It's a place to share ideas so we ALL improve each of our outcomes.
    7 Aug 2014, 10:11 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    Please ignore, instead of responding with this.

     

    Or answer with your many ideas on how to float through the market's gyrations, for those of us, like me who are trying to learn!
    7 Aug 2014, 10:12 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    (NYSE:LAZ) down 1.71% to $51.24. I've been waiting to get in. What do you think of this entry point?

     

    I missed (NYSE:http://bit.ly/LLKVdP) on this round, so don't want to miss this one :).

     

    Banks in general got neg news this morning from the Fed or SEC -- but does that effect (LAZ)'s real value?
    6 Aug 2014, 10:44 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    Here's an odd stock (NASDAQ:CSPI) a micro cap, 6% div
    ...with no trailing earnings, and a P/E thats so big it breaks Scottrade's space for a P/E number.
    6 Aug 2014, 12:15 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    here is another energy name (NYSE:OAS) that was on my radar ,

     

    they reported today and apparently disappointed - as the shares are off 7%
    I haven't read the conf call transcript just yet ,, Time to dig into that one , as i do know it has some great reserves in the Bakken

     

    a recent article here on SA
    http://seekingalpha.co...
    6 Aug 2014, 01:24 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    (NYSE:OAS) sure is down. 18% in last 3 weeks.

     

    Sterne Agee thinks today's OAS selloff "is following a 'shoot first, ask questions later' theme that has impacted E&Ps with negative news to report so far this earnings season."

     

    No div so I'm waiting till they show some coming back, to decide.
    7 Aug 2014, 07:56 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,
    I'm watching this one (NYSE:OAS) closely -- i would love to initiate a position in the low 40's.......
    7 Aug 2014, 09:06 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » - JBT, FG

     

    Linn Energy (NASDAQ:LINE): Q2 EPS of $0.56 beats by $0.14.

     

    Will (LINE) (NASDAQ:LNCO) finally put that short raid behind it!
    7 Aug 2014, 07:34 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    Waiting patiently... Watching for my exit on this one - would rather it be sooner than later.
    7 Aug 2014, 07:40 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » - JBT

     

    What's your reasons for leaving (NASDAQ:LNCO)?

     

    I'm planning to stay awhile. Maybe (probably) not long, long term. But management seems strong & they seem lined up at the moment to really stay productive. So the high yield seems a good trade off.

     

    If not this -- what do you see as good alternatives? (Most anything :), lol? )

     

    A bunch of my buys went down a lot afterward, but this one came back. The BDCs (NYSE:TCAP), (NASDAQ:TCRD) will still be a while just to breakeven with their high divs included.
    7 Aug 2014, 07:47 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    Long-term dead money makes me hate on a stock, I guess. I'll move the money to a true "set it and forget it" stock like (NYSE:PG) or (NYSE:JNJ).
    7 Aug 2014, 08:02 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    that bear raid is history.. and as many like was shown to be filled with false and misleading allegations -

     

    unfortunately it caught unsuspecting investors plenty -- their was never any issue with their distribution and I believe the dist. will be increased down the road..

     

    Sit back and collect the 9.5% yield and don't be concerned with the daily fluctuations ... :)
    7 Aug 2014, 08:57 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    JBT

     

    nice to see you back here,, :)

     

    I've owned (NASDAQ:LINE) for a while and added when it was taken down to $20 in that hedgeye fiasco..

     

    (LINE) isn't going to lift off anytime soon its a slow moving MLP that pays 9.5% at present price ,

     

    In my view it can go to mid 30's
    7 Aug 2014, 09:01 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    F,

     

    Sometimes I just get bored with a stock. Such is the case with (NASDAQ:LNCO). The generous dividend has not been enough to offset my capital losses.

     

    I'll take break-even and move along on this one. :)
    7 Aug 2014, 09:36 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    J,

     

    i know what u mean ,, i have a few of those myself :)
    7 Aug 2014, 09:39 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » JBT

     

    (NASDAQ:LINE) up 2.4% today, one of my very few greens. You may be able to get out even soon!!
    7 Aug 2014, 10:00 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    EBC rate decision later today.

     

    Gold is up again, & was yesterday in the rally. So whatever fear is out there, it's still there... not sure what that signals for the market's reactions.
    7 Aug 2014, 07:36 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    Seems to me a bigger dip is forming, and I'm putting off buying right now.

     

    Everyone else in wait and see mode?
    7 Aug 2014, 12:22 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    yep , oils getting sold off again .. watching that group ----
    7 Aug 2014, 01:22 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L,

     

    I am buying here as the consensus is for mid -1800's on the SPX. I've covered all P and Yelp shorts, added Rsx long, more THD, more natural gas. Now perhaps 65% net long, holding 3 remaining shorts against full long positions.

     

    BUY RUSSIA!
    7 Aug 2014, 12:33 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Current longs,

     

    BIR
    POU
    PDS
    RSX
    MBT
    TKC
    THD
    SCIF
    GILD
    IVN

     

    SHORTS
    ANGI
    GRPN
    VRX
    7 Aug 2014, 01:41 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Question --- why on earth would one buy a dog like (NYSE:RIG) when you can buy a true blue chip name like (NYSE:PDS) ?

     

    Look at the charts, tells you everything.

     

    For those defending RIG as mispriced, I ask where is the insider buying?
    7 Aug 2014, 02:10 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    M,

     

    a gentle reminder ,you forgot to take your meds today
    7 Aug 2014, 02:23 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    F

     

    Nice comment. How much money have you lost the last few days?
    7 Aug 2014, 02:28 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    not as much as u may think --- ever heard of call writing as a strategy?

     

    less than your ill advised shorts have --
    7 Aug 2014, 02:32 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    "ill advised shorts"?

     

    Try checking out charts on VRX, GRPN, ANGI, even yelp and p which I closed at modest profits, before you comment. Still in the first three.

     

    Again you are welcome to "take the other side" , sir.

     

    Call writing doesn't protect much when LVS has fallen from, what 85 to 65. That's real money, in my book anyway.

     

    Anything else?
    7 Aug 2014, 02:58 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    yes - u forgot to take your meds today
    7 Aug 2014, 03:01 PM Reply Like
  • astarr66
    , contributor
    Comments (234) | Send Message
     
    F&G,

     

    LVS getting hammered. Opportunity for adding?
    7 Aug 2014, 02:39 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    astarr,

     

    i'm holding off - wait to see some stability-- we could get down to 61-62 before this is all over --
    7 Aug 2014, 02:48 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    My (NYSE:LAZ) bought yesterday when down too :(. It's only 1/2 position, so I'm waiting to buy the rest.
    7 Aug 2014, 09:57 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Astarr,

     

    Opportunity for something. Perhaps for protecting oneself from further losses. What do you do when already in?

     

    I'm not, btw.
    7 Aug 2014, 02:49 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » - Astarr

     

    I figure that the market will come up again, so just hold till then, and it's not losses until I sell a stock.

     

    Any reason you're not in? Any deployment plan that you're thinking about?
    7 Aug 2014, 09:56 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    I completed earlier this week a planned $55,000 reduction in my stock allocation, the amount that I previously calculated as my net stock additions between October 2013 and June 2014.

     

    I am not in an adding mood at the moment. While hardly a scientific gauge, the market "feels" like the easiest pathway is down.

     

    I do have several types of securities that are working today, including a few blue chips, bond CEFs which have been in a downdraft for several days now, and REITs including most of my Canadian REITs.

     

    The Canadian REIT, DREAM Global, reported a decent increase in AFFO per share and yields about 8.74% at its current price of C$9.15. Distributions are paid monthly at C$.06667 per share or C$.80 annually.

     

    Press Release:
    "Dream Global REIT Reports Strong Second Quarter Results and Strategic Joint Venture"

     

    http://mwne.ws/1AY6mT9
    7 Aug 2014, 03:11 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » SG

     

    Excellent timing by you to lighten up right before. I believe it was some questions on the blog that had you checking your %s and making that adjustment :). I'd be very happy if it was helpful at all.

     

    (OTC:DUNDF) is going on my watch & research list. I've wondered about getting into anything where yield is the key appeal, as Fed and interest rates are the topic. It won't matter long term, but short term the market will care what the Fed is doing (and properly over-react.)

     

    Unfortunately I picked right before the shift in mood to start buying again. Then bought more and filled out positions on the first dip. So now on those and my first buys, I'm down a lot. I had some in indices so that stuff is doing fine.
    ...I really do see a hesitation out there, and a bigger dip about very possible. It'd be nice to get in now if it goes up from here, but I'm not making that bet. I'm going to wait a little.

     

    ...as Macro noticed, small-caps are still going stronger than they were (less down than the other indices)... so the turn around may be sooner than it looks. Gold (NYSEARCA:NUGT) too wasn't strong today so "fear" is moving to less. (Haven't checked pure gold movement.)

     

    I'm skipping everything bond. With the FED involved, it's over my head to figure out how they'll effect the usual patterns. Interesting to hear about how they're doing. Maybe eventually I'll feel comfortable with bond funds again.
    7 Aug 2014, 09:42 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    LMH: My paring is less about timing than my current risk assessment and my conclusions about the potential risk/reward balances of various asset classes.

     

    In addition to raising my cash allocation, I have become more defensive based on my opinions about stock valuations and a relatively limited number of buying opportunities in any asset category. I can afford to be patient. If the S & P 500 continues skyward in the 2014 second half, I will be selling more positions into that move.

     

    I still have a significant stock allocation. My main taxable account was down .17% today, but my two Fidelity IRAs gained .50% and .07% helped by individual bonds and securities like KTN (one of my few remaining trust certificates bought at less than $14 during the Dark Period), FSC, IRT, JPI and NMFC.

     

    As to (OTC:DUNDF), that security is not an ADR, but the ordinary Dream Global shares priced in USDs and traded in the U.S. Grey Market where no bids or ask prices are displayed and trading is at best sporadic.

     

    Some brokers add additional fees for buying foreign securities in that market. There were no trades today in DUNDF:

     

    http://bit.ly/1AZ7Qwj

     

    The ordinary shares closed in Toronto at C$9.12:

     

    http://on.mktw.net/1g8...

     

    I try to avoid the Grey Market. If I was forced to enter an order, I would first get the quote for the ordinary shares in Canada and then convert that amount into USDs using the YF currency converter. At C$9.12 and using the most recent conversion, a USD price per share would be $8.33:

     

    http://yhoo.it/14CU2Yq;_ylt=AjXxUIxjHZYPiBea...

     

    I would then enter a limit order at that price.

     

    The ordinary shares of some Canadian REITs trade on the pink sheet exchange and are consequently priced in USDs. Those are easier to buy.

     

    One of those, Artis, reported today.

     

    http://mwne.ws/1AZ7Qwl

     

    I own 300 Artis shares bought in Toronto at C$14.36:
    http://bit.ly/1cPSWgb

     

    Those shares closed today at C$15.76, up three cents:
    http://on.mktw.net/1nt...

     

    Since the Canadian Dollar has been weakening, the ordinary shares priced in USDs and traded in the U.S. are cheaper in USDs and closed today at USD$14.25:

     

    http://bit.ly/1ld4dwH

     

    Those shares can be bought fairly easily, as can Canadian Apartments and RIOCAN, both of which I have recently sold as part of my stock allocation reduction.

     

    If anyone buys ARESF using USDs, the dividends will be paid in USDs after a 15% withholding tax and a conversion of the dividend amount from CADs to USDs. For me, I receive the dividends in CADs since I bought the shares listed in Toronto.

     

    I have never bought GLD or SLV. I do have some bullion in a bank lock box and I first sold some of it back in September 2011 and in January 2012. I will buy some American Silver Eagles when and if the silver price falls below $15. My junk silver coin sales occurred when the price of silver was over $42. (snapshots in blog)

     

    As far as securities go, my participation in PM bullion is limited to my long standing position in the Permanent Portfolio mutual fund, which maintains a high and constant percentage allocation to both silver and gold bullion. PRPFX was down .07% today.

     

    http://on-msn.com/YWt3ki

     

    7 Aug 2014, 11:02 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L / SG,

     

    Tonight Obama has authorized air strikes against Iraqi militants. From my perch assuming a big gap down, with the short term sentiment where it is already, this kind of move could put in a short term bottom, I will be a further buyer tommorrow.

     

    I expect a retest rally as the current geopolitical fades, which I will reduce exposure into and reload momentum type short exposure, then a larger cycle decline in the future.

     

    I am always, always a buyer on geopolitical based selloffs. I will be a put seller, tommorrow.
    7 Aug 2014, 11:20 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    With a geopolitical such as these air strikes, you expect that worry and sell off to end with one day??

     

    Hence the buying tomorrow -- I assume later in the day?

     

    Or is it that you can't tell how many days the geopolitical will effect, so you start buying on the first day of impact?

     

    ------

     

    That larger cycle decline, is that from you're expectation that the market as a whole is in a pause and sell mode?

     

    This part is confusing me - before the strike news you were going to buy and expect a pop up. Did you also expect that pop to be very short term??

     

    Just trying to make sure I understand your ideas.
    7 Aug 2014, 11:53 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    I've been an aggressive buyer late this afternoon. Covered partial positions in all three shorts at substantial profits, added more longs too. CNN fear greed index is 4.

     

    Liking it too folks are reluctant to buy. Also note small caps stabilizing and junk bonds as well. I expect a rally, soon.
    7 Aug 2014, 03:49 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    Frantic sellers will soon be left for dead, yet again.
    7 Aug 2014, 04:21 PM Reply Like
  • alcyon
    , contributor
    Comments (36) | Send Message
     
    Depends on how you define "soon."
    7 Aug 2014, 04:50 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » - Welcome acyon!!

     

    Any other thoughts or ideas (or questions) you can share with us? What are you expecting... or do you use an investing style that makes short term irrelevant?...
    7 Aug 2014, 09:43 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    Who's frantically selling? Have you spotted who's doing the selling out?

     

    It's obviously not folks on this blog, but is it institutional? Heavy or light vol? Any statements by them what their reasoning is?
    7 Aug 2014, 09:54 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH

     

    Just being snarky about nervous market.
    7 Aug 2014, 10:15 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    Ah. Actually I am curious who's selling in this market. Maybe give a clue what the mood is about. Also just plain curious. It never crossed my mind to sell (though I'm wishing back when CVX was setting new highs that I'd take a little profit.)
    7 Aug 2014, 10:21 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    a:

     

    Didn't take very long, did it?
    8 Aug 2014, 06:32 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    I note S & P 500 --

     

    Rel strength on the index is at lows last seen on Apr 15 when the S & P rallied 5 days from 1842 to 1879

     

    interesting to see if the same will occur now...
    7 Aug 2014, 04:28 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Funny how those who claim to be fully invested during the rally phase, suddenly have oodles of cash to deploy on a nice dip like this. Cool how that works!
    7 Aug 2014, 06:15 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    M:

     

    Yeah, we just print money, like the Fed. :)

     

    First off, even "fully-invested" investors usually have 5-10% floating around. More seriously, it's easy to be fully invested and still be able to deploy capital to any new values that appear. It's done by rotating out of the more defensive assets (bonds, preferreds, etc.) after a swoon and into the beaten-down issues, instead, rebalancing the portfolio. This can be done ad infinitum, as cycles occur.

     

    There's really no merit in having piles of cash lying around, especially in this day of zero rates on cash.
    7 Aug 2014, 07:19 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    When I finally get myself set up, I'm going to adopt your method you're described (before too)!
    7 Aug 2014, 09:45 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    I always have cash....always. As a %, about 30% at the moment. If we get that 10% or more gap down, I'm ready.

     

    Not selling a lot of stock....just a few last week. I've been slowly buying over the past week, too. I like to average into a position over time, taking advantage of dips.

     

    Market dips are great for buying stocks. When your favorite stocks go "on sale" it's a good idea to buy more.

     

    Dividends keep coming in, as always.

     

    (NASDAQ:PCLN) (NASDAQ:SSYS) (NASDAQ:SCTY) all up today.
    7 Aug 2014, 09:47 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » BSF

     

    I know you've been saying, but which stocks are you buying that are on sale? Most everything I research so far is either holding it's value so not on sale. Or down but not at a point that from the chart, looks like it's time to buy at all.
    7 Aug 2014, 09:51 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    (NASDAQ:MAT) (NYSE:BA) (NYSE:BGS) (NYSE:WAG) (NYSE:MHK) (NYSE:C) (NASDAQ:REGN) recent buys

     

    take a look at (NYSE:LVS) (NYSE:LMT) (NYSE:NOC) (NYSE:GE) (NYSE:T) (NYSE:VZ) (NYSE:MCD) (NYSE:IBM) (NYSE:UTX) (NYSE:CMI) (NYSE:ED) (NYSE:WEC) (NYSE:SCG) (NYSE:OAK) (NYSE:BX) (NYSE:KKR) (NASDAQ:PSEC) (NASDAQ:DNKN)

     

    Many of my other stocks have not fallen that much (NYSE:M) (NASDAQ:GILD) (NASDAQ:CELG) (NASDAQ:SSYS) (NASDAQ:PCLN) (NASDAQ:TSLA) (NYSE:BUD) (NYSE:STZ) (NYSE:PTY) (NYSE:MCK) (NYSE:JNJ) (NYSE:PG) (NASDAQ:SWKS) (NYSE:MMM) (NYSE:HON) (NYSE:DE) (NYSE:FL) .... in fact some are higher.

     

    Sometimes I buy just a few shares. It's better to average in, take advantage of dips.

     

    We may be on this bumpy ride for awhile. Worries about Putin, etc. Then the election heating up....Fed follies. Meanwhile, the economy keeps on getting slowly better.
    7 Aug 2014, 10:12 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue

     

    Are you buying into all of them at this point in time... or are there a few in particular that you think are worth adding value-wise during this dip?
    (I get overwhelmed with your long list of stocks you love :). )
    7 Aug 2014, 10:14 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » BSF, CWINN

     

    Never mind, I missed some of your comments inside the lists that answer my question!

     

    On a specific... (NYSE:WEC) is up again. It's been strong through this by several %. Would you add here? Or wait for more of dip? I'm wishing I'd added when I looked at it last week!
    7 Aug 2014, 10:23 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    As noted, only the 1st group are recent buys.

     

    The next group are candidates for you, to buy now....in small amounts.

     

    The last group are the stocks that is not down that much, and in fact most are up. Like (NASDAQ:SSYS) (NASDAQ:PCLN) (NASDAQ:TSLA) all up; the rest in this group are holding up well during the current down trend.

     

    I forgot (NASDAQ:ODFL). Started a position in this freight company a few days ago too.

     

    As a core group of dividend stocks, (NYSE:GE) (NYSE:MCD) (NYSE:MO) (NYSE:LMT) (NYSE:LVS) (NYSE:NOC) (NYSE:JNJ) (NYSE:PG) (NYSE:KMB) (NYSE:WAG) (NYSE:ED) (NYSE:WEC) (NYSE:SCG) (ED) (NYSE:HON) (NYSE:MMM) (NYSE:PEP) (NYSE:KO) (NYSE:DPS) (NYSE:JPM) (NASDAQ:MAT) (NYSE:BGS) (NYSE:AMC) (NASDAQ:MSFT) (NYSE:HD) (NASDAQ:CBRL) (NYSE:COP) (NYSE:XOM) (NYSE:BP) (NYSE:M) (NYSE:FL) (NYSE:DE) (NYSE:SJM) (NYSE:SWK) (NYSE:SNA) (NYSE:UNP) (NYSE:CSX) are all excellent.

     

    Then add some higher dividend stocks like (NYSE:PTY) (NASDAQ:PSEC) (NYSE:MAIN) (NYSE:KKR) (NYSE:BX) (NYSE:OAK) (NYSE:NLY) (NYSE:KMP) (NYSE:TCAP) (NASDAQ:TCRD) (NYSE:OHI) (NYSE:DFT) etc. for added income. When these stocks go down, it's time to add them to your portfolio. You have to watch the valuations....PE ratio can be a signal that it's over or under valued, then do more research.

     

    For growth, I have (NASDAQ:GILD) (NASDAQ:CELG) (SSYS) (NASDAQ:SWKS) (NASDAQ:GOOGL) (NASDAQ:GOOG) (NASDAQ:AAPL) (NASDAQ:ICPT) (NASDAQ:REGN) (NASDAQ:NVAX) (PCLN) (NYSE:WDAY) (NASDAQ:FB) (NASDAQ:DNKN) (NYSE:KKD) (NASDAQ:SBUX) (NYSE:V) (AMC)

     

    Sorry if my lists are too long; indeed I have my very own mutual fund. However, I do continuous research on all of them. All of the companies in my core group are excellent, worth owning for the long term.

     

    L, I keep several portfolios here on SA. It's easy to check up on my stocks, & read any recent articles on them that way.

     

    Also keep a list of stocks that I'm watching as potential candidates to buy.

     

    It is a full time job watching over all my stocks.
    7 Aug 2014, 10:42 PM Reply Like
  • CWinn1970
    , contributor
    Comments (374) | Send Message
     
    L,

     

    I didn't add. Even though it's off 12% or so from it's high, I was looking for $40 and/or below to add.
    9 Aug 2014, 07:49 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    CW

     

    Thanks! Makes me feel better about not adding :).
    9 Aug 2014, 08:03 AM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    Macro: Do you really regard (NYSE:PDS) as a "blue chip", as you mentioned in a prior comment?

     

    The stock is currently trading near its September 2001 level. The shares traded below $3 in early 2009.

     

    http://yhoo.it/V27l3w;range=my

     

    A dividend started again in December 2012 at 5 cents per share after being eliminated in 2009:

     

    http://bit.ly/V27l3A

     

    Free cash flow is negative most of the time:
    http://bit.ly/V27l3C

     

    Earnings are inconsistent.
    Basic Diluted E.P.S. Per Share
    2013: $.66
    2012: $.18
    2011: $..67
    2010: $.15

     

    Page 8 for 2010-2012 Data
    http://1.usa.gov/V27lAK

     

    I think that we have radically different views about the meaning of blue chip.

     

    As to junk bonds stabilizing, I would not regard the price action of (NYSEARCA:JNK) to be reassuring on that point. Today, for example, investment grade corporate bonds and treasuries rose in price but JNK fell 2 cents in price and is well below its 50, 100 and 200 day SMA lines.

     

    http://yhoo.it/V27lAM;range=1y

     

    The investment grade corporate bond ETF (NYSEARCA:LQD) rose in price by .26% and (NYSEARCA:TLT) was up .93%. The German 10 Year bond closed at a 1.06% yield. All of that looks more consistent with a flight to safety, rather than a bottoming process for stocks to be followed "soon" by a liftoff, and is further reflective of concerns about growth particularly in Europe.

     

    German 10 Year
    http://on.mktw.net/1nl...

     

    Manufacturing orders fell 3.2% in Germany in June:
    http://on.wsj.com/V27lAO

     

    Italy's second quarter GDP shrank:
    http://bloom.bg/XELXTG

     

    In Europe, unemployment was last reported at 11.5% and inflation at .4% Y-O-Y.

     

    News Releases Eurostat
    http://bit.ly/V27lR9

     

    It is impossible for anyone to accurately predict the daily gyrations of markets with any degree of consistency or accuracy. Sure, the market may leap up tomorrow or next week and your new longs may work before you sell them again, or maybe not. Hard to say now. I am not sure how I would position for that eventuality of a pop "soon", recognizing that anything bought today may go down 3 or 4% before going up 1%. (NYSE:MBT) was (NYSE:TKC) fell 3.9% and 3.29% respectively today, just as an example.

     

    The issue now is whether the current valuations in the market warrant buying or paring, when balancing the risks and potential rewards over longer intervals than a few hours or days.

     

    The forward estimated P/E for the S & P 500, based on "operating earnings" rather than GAAP, was 16.15 as of 8/1/14:

     

    http://on.wsj.com/sXXWWp

     

    The long term average in the modern era (1977-2014) is about 13.7 based on forward operating earnings estimates:

     

    Figure 1:
    http://bit.ly/1mrZULk

     

    If I use the current 2014 operating earnings estimate of $123.98 (bottoms up), and slap a 13.7 P/E on that number, I arrive at 1698.53.

     

    I am not saying that the market is going down to that level or anywhere near it. I am saying that a normal P/E on operating earnings arrives at that number, which is a risk assessment rather than a prediction. The S & P 500 level would be slightly higher by using the 2015 first and second quarter estimates and slapping a 13.7 P/E on that number (31.97 and 33.67 respectively bringing the 4 quarter total using the 2014 third and 4th quarter estimates to 128.53 or 1760.86 at 13.7 P/E)
    7 Aug 2014, 07:09 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    SG,

     

    PDS is a smaller player that has been winning a number of new contracts. I believe they will be a winner in the secular future for natural gas I outline in my related instapost on this topic.

     

    MBT is tied to Russia and is their Verizon, as has been described. The company is extremely cheap and Uncorrelated to the spx.

     

    Tkc is likewise cheap and a special case. Worth reading up on.
    7 Aug 2014, 07:52 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » SG

     

    Thanks for all the details. That answers a lot of questions that I've had.

     

    On P/E are other folks seeing the same need for consolidation based on current Ps & Es before moving upward?
    7 Aug 2014, 09:52 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    M,

     

    spoken like a true frustrated bear !

     

    same as the 'short" players who always "cover up " JUST before the stock goes up , they NEVER get caught --

     

    Cool how that works !!
    7 Aug 2014, 07:09 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    F, I'm very frustrated with Angi and Grpn, they haven't been delisted yet
    7 Aug 2014, 07:45 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    So frustrated I'm like 90% long coming in today, After booking nice gains on Angi and Grpn, to name 2.

     

    So sorry I'm not one of those perma / bears you get a perverse pleasure in insulting constantly. Does that make you a better person? Build your ego? Exactly what is the point?

     

    My flexibility is ---- my key....

     

    I'm not "perma" anything.
    8 Aug 2014, 03:22 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    Glad your flexibility is working.

     

    Let's skip worrying about what everyone is here.

     

    Otherwise, I'm going to have to top the list by saying I'm "a perma-frustrated". All this opportunity, and I didn't get in when down. Did get in when up. ...I certainly don't have this process down pat yet!! And that's all from this clearly not permabull or permabear.

     

    ...though very interestingly, I was on a highway last week, 65mph zone, and out of the woods walks a black (colored not species) bear. He's taking a relaxed stroll across the road. So glad it was light enough out for me to see him. What an attitude; nothing was bothering him - he was in charge!
    8 Aug 2014, 03:40 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L,

     

    Maybe something we should watch, when bears are relaxed.
    8 Aug 2014, 03:43 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    Sounds good! I'll keep my eye's out for bulls too. I happen to know it was near "cow tipping" country.
    8 Aug 2014, 03:47 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    here is a "key"
    from my post yesterday @ 4:28 PM

     

    I note S & P 500 --

     

    Rel strength on the index is at lows last seen on Apr 15 when the S & P rallied 5 days from 1842 to 1879.
    8 Aug 2014, 04:16 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    Any ideas on why (NASDAQ:TCRD) is down some more, but (NYSE:TCAP) is strong up? Both BDCs.
    7 Aug 2014, 10:09 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    L, I'm holding both & collecting the dividend.
    7 Aug 2014, 10:17 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » .

     

    B, I'm holding both too. (NYSE:TCAP) has held up it's capital value much better than (NASDAQ:TCRD).
    7 Aug 2014, 10:26 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue,

     

    (NYSE:TCAP) had good earnings report the other day. That's what's helping it.

     

    Maybe (NASDAQ:TCRD) will finally get some strength too? I hope.
    8 Aug 2014, 12:19 PM Reply Like
  • CWinn1970
    , contributor
    Comments (374) | Send Message
     
    L,

     

    I too hold (NASDAQ:TCRD) and I believe their NAV was $13.36 last time I looked. So if I'm understanding this correctly it looks fairly valued. What I like the most is the 10% yield. Allows collection of the div's and so I can put them towards my DGI portions.

     

    I did double my stake in (NASDAQ:TCPC) on 7/29 on the additional offering. During the day the stock traded below the offering price, so I added.

     

    BDC Buzz publishes articles on the BDC's. The comments are worth reading as he does a great job of answering reader's questions.
    9 Aug 2014, 07:43 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » CWinn

     

    You're right - the NAV is down from when I bought on (NASDAQ:TCRD). That's the problem. 10% yield is nice, but when capital is down 12-15%, it's not a good investment.

     

    Back when (NASDAQ:TCPC) was first, first sinking, Buzz suggested staying with it. Then later hadn't posted on it... I haven't signed up for his paid service and that may have been where he was focused at the time.
    9 Aug 2014, 08:09 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    added more to (NYSE:SAN) this Am @ 9.57 -- now have a good size position built up
    8 Aug 2014, 10:43 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    (NYSE:MCD) had a really bad quarter. The chicken from Chinese producers turned out to be rotten, not only affecting (MCD) but other fast food chains like Kentucky Fried Chicken - in China.

     

    US sales were down 2.5% compared to about 7% down in China. Overall, (MCD) performed badly. The stock is down from a recent high of $104 last May. Today, the stock is down to $93.18. Is this an opportunity? Apparently, many investors think so as the stock has ranged down today from about 59 cents to 13 cents. If you don't have a position in (MCD) today might be a good day to stick your toe in. I may add a few shares to my position as well.

     

    Another stock that sometimes indicates how people feel in the US is (NYSE:HSY). It's down off its Feb. high of $109 to $90 today. (HSY) is green today, in spite of all the market fears.

     

    Other stocks that are US consumer "tells" are (NYSE:HD) (NYSE:MHK) (NYSE:M) (NYSE:SJM) ... all up today.

     

    So is (NYSE:DE) (NYSE:MMM) (NYSE:UTX) ...

     

    Time to get into the market? Yesterday was better.
    8 Aug 2014, 10:48 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue

     

    I've followed that you've been in (NYSE:MCD) for a while. I'm still thinking it's not strong enough for my portfolio as a food addition. I'm doing poorly enough on the things that are showing strength :).

     

    I haven't really looked at the rest yet. First more kid sitting -- then more digging into these names (and the others I've accumulated.)

     

    The economy will be fine in the longer run. It's a question for me whether they'll be a dip enough to wait a little now... or I'll be happy with div payers.
    8 Aug 2014, 12:15 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    Blue,

     

    nibbling around here for some of my accounts - (NYSE:SAN) & (NYSE:http://bit.ly/pXMU9v) ...

     

    in my view - still plenty of headline risk - presenting an unsettled picture - overall

     

    adding some div names helps make the decision to buy amid the headlines easier..

     

    agree with you on (NYSE:http://bit.ly/oy1ZNd) its down to support on the daily chart , and on the weekly its @ the LT 200 wk MA ....

     

    a good entry point for a starter position ----3.2% yield
    8 Aug 2014, 10:59 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    I had a full (NYSE:SAN) position at 9.90, so haven't added while down... :(. I bought a full (NYSE:TOT) on two buys, so didn't add that either. Both heavily underwater for me now.

     

    I'm feeling the uneasiness, and not rushing to add. I'd like to add SPY ETFs but they aren't down enough to rush into it.

     

    I can add to (NYSE:LAZ) and (NYSE:F) but...for (F) rather see a definite decrease (since it's now green again) or the market stablize... or (LAZ) to stop declining before getting the rest of the way in.

     

    (NYSE:LVS) is finally green today. Maybe it's time to finally get 1/2 in?

     

    I'd like to find some good prefers to add diversity.
    8 Aug 2014, 12:09 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH:

     

    Regarding SAN, one way to make a few bucks and give yourself an extra measure of protection is by selling puts. Currently, looking at bid/ask on puts one could likely sell either:

     

    Dec $10 for $0.80
    Dec $9 for $0.30

     

    Both ensure a lower basis, even if shares put, the $9 put, especially. Or, one just pockets the premium.
    8 Aug 2014, 12:38 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    That's an interesting idea! I have a full position, so not sure if I want more -- though it's not a big obligation while being a nice offset so this may make a lot of sense. I'm in at $9.90 so I'd do $9.

     

    In general I'm thinking, I may want to start picking up shares more often through puts and if I don't get them -- pocket the money, if I do get them, for a chance get -after- it's gone down, lol.
    8 Aug 2014, 02:36 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH

     

    Yep. That's why selling puts is a win - win strategy.
    8 Aug 2014, 02:39 PM Reply Like
  • CWinn1970
    , contributor
    Comments (374) | Send Message
     
    L,

     

    I tried what Tack describes above for the first time a few months ago. I've only stuck with covered calls in the past. I sold (NASDAQ:PSEC) Aug $10 puts for $0.70. If they get put to me next week no big deal as my cost basis will be $9.30 and it's currently $10.7 or so...15% above my cost.
    9 Aug 2014, 07:59 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    That's a good idea - (NASDAQ:PSEC). I'm sitting on a fence about getting more -- so selling puts and getting it only if low price, would be great.
    9 Aug 2014, 08:05 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    L,

     

    Its always tough to call the "exact" bottom on a stock during a decline .. (NYSE:LVS) is at a decent support level, if this level breaks then 60- 62 or so may come into play -- SO

     

    If your are looking to this time next year as a time horizon on this one then starting here isn't the worst move ... It pays a 2.5% div and has also declared special div's in the past..

     

    Lots of negative headlines abounding - but I go back to when i first got involved in (LVS) in the 40 area , and remember the same growth concerns popping up, I bailed out and used it as a trading stock from time to time only to find that it's all noise and watched as the growth continued and the stock eventually broke out...

     

    I'm not buying into the "growth is dead in Macau" storyline and they have Japan on the horizon---- that could be huge for another growth spurt.
    Dont have to take my opinion -- Read the last earnings call transcript --
    Best of luck !
    8 Aug 2014, 12:48 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » FG

     

    Thanks for the details! I'll have to read the transcript! I'm going to wait just a little and see if the pop holds or if there's another drop and I can get in better. It really was so weak during the last drop (last few days), that another weak macro market should bring it down more. ...and if we head for macro rallying, I can always buy.

     

    Hum, maybe this is a good place for the selling puts to pick up shares low...
    8 Aug 2014, 02:40 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    Russia starting to work today. I am 15% long based on total assets Russia alone.

     

    When you see mispriced assets, sometimes it's worth being aggressive.

     

    I believe a deal is desired by all sides and when this is struck, Russia flies higher.

     

    I am shorting gold here, as well.
    8 Aug 2014, 01:39 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    (OTCPK:OGZPY) or bust.
    8 Aug 2014, 01:46 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    T,

     

    (NYSEARCA:RSX) and (NYSE:MBT).

     

    Think these could be longer term holds, too.

     

    Note the natural gas stocks are all lifting off today, as well, and (NYSEARCA:THD) breaking out, on china's positive data.

     

    Looks like yesterday was a great day to complete the shift from short to long. Last night was a capitulation spike, I'm still away so not trading futures, or I would have bought futures last night.

     

    I love buying high anxiety. Feed on that.

     

    Gold looks sick and unable to rally. Expect a big selloff there in the next month or 2.
    8 Aug 2014, 01:57 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » M

     

    Exactly what are you doing to short gold? Options on an ETF? I agree, it's coming down. (No idea how much, but it's been climbing over fears so it will come down.)
    8 Aug 2014, 02:38 PM Reply Like
  • Robert Duval
    , contributor
    Comments (5786) | Send Message
     
    L

     

    Oct GLD 120 puts.
    8 Aug 2014, 02:43 PM Reply Like
  • Broken Clock
    , contributor
    Comments (126) | Send Message
     
    Any thoughts on the new FICO stuff?
    8 Aug 2014, 03:40 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » - BC

     

    What new FICO stuff? ...bet Southgent has some thoughts :)s.
    8 Aug 2014, 03:41 PM Reply Like
  • Broken Clock
    , contributor
    Comments (126) | Send Message
     
    LOMAH:

     

    I'm not entirely sure myself, but here's a quick link (and you can google it yourself to find others... I'm not sure what the best source would be):

     

    http://on.wsj.com/1q1rcbo
    8 Aug 2014, 03:47 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » BC

     

    So that's about some adjustments to the formula the credit bureaus will use in the future for credit scores.

     

    The whole industry is troubling. Three companies have a monopoly on a huge item that effects most Americans and can't be escaped. It's poorly regulated (getting better), and there's nothing that shows it's fair or equitable for specific subgroups. Lots of room for mistakes and harming individuals.

     

    Meanwhile, the article is light. It talks about getting a better rate for a car loan or home loan, but credit scores determine how much you pay for car insurance!! Probably effect other things that we aren't fully aware of.

     

    It's only recently that it's become easy to get your score for free.

     

    That said, the question would be, if scores go up for a lot of people (which is expected), how will that effect businesses and stocks?

     

    My first instinct is to see it as a scale shifting, so it won't effect anything. Like grading on a curve, same number of people get same grade...just the underlying test scores are different.

     

    I've been in the top category so it's never effected me personally. But I've wondered when this would break open & get dealt with.

     

    My other gripe on things that effect all of us, but are privately done.... is credit card fees to merchants. It's a 2-5% tax on purchases paid to banks. They're making a fortune while claiming they aren't, and pass the actual expenses involved onto merchants (like equipment.) Plastic is convenient. But it's an odd business.

     

    Now that I've vented...

     

    ...did you have any thoughts on the new FICO scores?
    9 Aug 2014, 03:12 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    "pass the actual expenses involved onto merchants"

     

    Who then pass it on to the consumer. Around here they call it a "convenience fee". 5% is typically charged through, even though the merchant is typically only paying 2.5 - 3%.
    9 Aug 2014, 08:25 PM Reply Like
  • Broken Clock
    , contributor
    Comments (126) | Send Message
     
    L:

     

    In terms of market implications, my first thought was "maybe better credit scores will mean more loans/more credit growth" but I've noted a lot of the information does try to put it in context and I think your point about it being more of a scale change than an actual change is a good one. So, probably not much market impact after all. Or at least not as much I thought at first.

     

    However, that just makes me wonder if Friday was short-covering or what was going on. I think it was said it was one of the strongest days all year.
    11 Aug 2014, 05:20 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » BC

     

    Pondering... market's up this morning .4% currently, so it wasn't purely short covering on Friday.

     

    However that's a good point that it was expiration day. Was it a double or triple-type day? Could well be part of the strength.

     

    On credit scores, with numbers up, unconsciously there probably will be more acceptance and loans, at least at first. ...However I doubt in huge quantities, but banks would be the beneficiaries. Which is what others have said will benefit from the raising rates environment in general.
    11 Aug 2014, 07:32 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » JBT

     

    Here they aren't charging a convenience fee. For small merchants it can easily add up to 4.5% they're paying. I assume large merchants arrange better deals for themselves. Those 1-5% back reward cards, are a partial refund of the fee they've already charged... I'd like to see what the banking margins are on this, and have them capped if they're as high as I suspect.
    11 Aug 2014, 07:40 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH

     

    Russia phobia. No more, no less.

     

    Data never changed or got better while headline silliness did its usual tricks.
    11 Aug 2014, 10:10 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » T

     

    Russia phobia brought it down. BrokenClock was wondering if the strength Fri was partially due to short covering. It was expiration day. (I don't remember what makes it double or triple witching vs. regular expiration.) It's obvious it wasn't all short covering.
    11 Aug 2014, 10:22 AM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    LMH:

     

    Friday was not a major expiry day. That's always the 3rd Friday (Saturday, actually).
    11 Aug 2014, 10:32 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    I have a close friend that is a really good investor. He retired at age 55, draws a pension, has no debt, college costs all saved up for 2 kids (enough to send both of his kids to private schools like Princeton) and he never made a huge salary. So how did he do it? Living frugally helped a lot. Buying 2 or 3 year old cars, then driving them until they had to be replaced. Never spent a lot of $ on clothes, vacations, or eating out. Now he & his family are living well, no worries about the future (pension & medical coverage from his previous gov't job make that easy).

     

    Last year, he sold everything in December. Maybe that was a good idea, but I think he's missed out on a lot of stocks that have increased since Dec. 31, 2013. Like (NASDAQ:GILD) (NASDAQ:SWKS) (NASDAQ:CELG) (NASDAQ:TSLA) (NASDAQ:AAPL).

     

    He's also missed out on the market dips we have had to get into stocks that have since appreciated this year. (NASDAQ:SSYS) (GILD) (CELG)
    9 Aug 2014, 11:55 AM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    Also, he hasn't collected any dividends at all, from stocks that are holding up well this year & paying you to be in them (NYSE:JNJ) (NYSE:MO) (NYSE:COP) (NYSE:UNP) (NYSE:CSX) (NYSE:XOM) (NYSE:MMM) (NYSE:HON) (NYSE:FL) (NYSE:M) (NYSE:SWK) (NYSE:LMT) (NYSE:NOC) (NYSE:T) (NYSE:VZ) (NASDAQ:MSFT) ....

     

    Then there's stocks like (NYSE:MCK) (NASDAQ:GMCR) (NASDAQ:ODFL) that don't pay you to hold them, but they have performed well this year.

     

    Meanwhile, positions in (NYSE:KKR) (NYSE:KMP) (NASDAQ:PSEC) (NYSE:PTY) (NYSE:MAIN) (NYSE:NLY) (NYSE:TCAP) (NASDAQ:TCRD) (NYSE:BX) (NYSE:BLK) (NYSE:OHI) (NYSE:DFT) (NYSE:HCP) etc. keep paying dividends, even though you may experience some volatility.

     

    Plus, using the dividends being paid every month to average in on your picks that are great companies but have become cheap...further enhances your long term portfolio results.

     

    His thesis that 2014 will have a huge correction may not happen. By the end of the year we will know if his strategy worked.

     

    But when do you decide to get back in? He's a value investor, picking stocks that are undervalued....as with PE ratios under 13. I like that philosophy, but I also like earning $ from dividends. Plus over 2014, we have seen many companies already have a correction with PE ratios so low it makes sense to invest when you see that....as with (NYSE:IBM) (NASDAQ:MU) (NASDAQ:AAPL)

     

    Guess will know soon enough if that huge correction does happen - we still have some tough months to get through. Putin has made the past couple of weeks very volatile. Will the future Fed decisions cause more turmoil?

     

    I don't know. Meanwhile, it's worth it to me to be in this market & continue collecting dividends plus take advantage of market dips. So far this year, I'm still ahead since Dec. 31.
    9 Aug 2014, 12:16 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    BSF

     

    Unless his pension pays his bills, playing market timing games is a great way to have to come out of retirement.
    9 Aug 2014, 12:26 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    BSF, T

     

    Agreed - being "all in" or "all out" is a recipe for disaster..
    Because you can't answer "THE" question
    when do you decide to get back in?
    most will make decisions at precisely the wrong time 
    9 Aug 2014, 02:24 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » Blue

     

    What makes him a good investor? You've describes a great money handler and saver, but what do you know that makes him a good investor?

     

    I met bears, sold out for the first time in my life, haven't gotten back in fully, and have lost a LOT of opportunity. I don't recommend that. I'm still not getting over that hump of just dumping the money back in, even though it might make the most sense...

     

    If he's just living off things as they are and has enough to afford being in cash, and the downside risk is that bothersome to him... then that's fine.

     

    But does he really expect such a big correction to last so long, that he couldn't live with the dividends or couldn't move some to prefers, or bonds, to diversify in case he needed some additional cash during that time. Or raise enough cash for the duration and just wait it out?

     

    If he expects a downturn, has he said what he's basing that on?

     

    I'm definitely puzzled.
    9 Aug 2014, 03:25 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    L, he is an amazing investor. He's been in the stock market for well over 25 years.....and he invests in value. Not so much a DGI type, as far as I can tell. So he buys good companies at low prices, then holds them. It kind of worried me that he sold out last December.

     

    This is a guy who never made a big salary....yet he's got well over a million, maybe 2. My friends never tell me exactly how much, we don't talk specifics. However, he's sending 2 kids to college, can afford expensive private schools, and if his kids want to go to grad school, no problem. Really great kids, they are smart & hard working.

     

    No problem retiring early, at age 55. So in a way, I feel like he's a better investor than me! We shall see if it was worth it to get into cash, and stay out of the market in 2014.

     

    Just shows how if you start young enough, invest wisely, live frugally....you really can retire a millionaire even tho your yearly income was never over $100,000.
    9 Aug 2014, 06:35 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    Tack, F&G:

     

    Exactly, when do you get back in? Timing the market is really impossible. Meanwhile, those dividends are what's making most of my gains this year. Plus the stocks that have actually gone up this year, or the ones bought when we had that dip earlier this year.

     

    It's important to me to get those dividend stocks as cheap as possible, then buy more whenever they dip. So far, my strategy is working & in a few more years, when we retire the dividend income will ensure we can cover expenses in retirement. Without having to sell any stock...which should allow me to continue to grow the portfolios.
    9 Aug 2014, 06:55 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    BSF: Since I live in the Nashville area, I know a number of people, including several relatives, who worked for Nashville and/or the State of Tennessee whose main offices are in Nashville. My Uncle was a cabinet member in state government and worked for decades in the Nashville City government. He draws two pensions, has no debt, and can live easily off his pension benefits.

     

    One of my cousins just retired from a long term job with Nashville and his pension is near his take home pay when he retired.

     

    I am not so fortunate. No one has ever paid for my health insurance, and my pension is Social Security (SS) which I decided to start drawing at 62 since I no longer have any earned income. I would not even contemplate the possibility of trying to live off SS benefits which are taxed, a tax on a tax.

     

    I would take a much different approach to my investments with a large government pension, and the generous health and dental insurance, than I do without that cushion. I take measured and cautious risks that generate income.

     

    Each individual has to manage their investments based on their own situation and situational risks. Most Americans will have inadequate sums for retirement and no pension benefits other than SS, and they refuse to take risks with their investments and/or are unable to save sufficient money due to a lack of any spending discipline.

     

    A frugal spending family, who has a nest egg, a good pension, and no debt with money set aside for college, may not have to take any risks, similar to a very rich person. The free spenders who do not save may need to assume an abundant amount of risks or work until they drop.

     

    When assessing stock risks at the individual security level, and in the larger macro level, valuations are key. An all or none approach will make sense-for those who have to take risks-when valuations are sky high as they were in 1999. That is not the case now.

     

    Valuations in my view are merely stretched in context, and that context includes reasonably anticipated low inflation and interest rates over the next decade, the parabolic rise of emerging market consumers throughout the developing world, and the de-leveraging of debt service obligations among American households in the aggregate.

     

    So pruning a stock allocation is warranted for those who still need to take risks. For me, as I noted in today's blog, it is sort of like a spring cleaning. Over several years, I end up with a number of securities, which have gone up in value, but are less than optimal selections. Another consideration for me is my performance numbers with a growing cash allocation, currently beating the S & P 500 in all retirement accounts and my two largest taxable accounts.

     

    Latest Snapshots in July 19, 2014 Post
    http://bit.ly/1AzncYi

     

    And, I know that I will be buying when there is a serious correction.

     

    For those selling now based on a valuation discipline, then the trigger needs to be pulled when a stock falls within a fair value target range. The later may never happen for many.

     

    Many who have sold out will have that dear in the headlight look when there is a cyclical bear market (more than a 20% decline) and will be frozen solid, hiding under the covers and crying for their mama, when those rare buying opportunities arise as in March 2009 or any of the other catastrophic 45%+ declines that I have lived through, fortunately missing the one in 1929-1932.

     

    I read the other day a statement here at SA where an individual was recommending 3% ten year CDs rather than blue chip stocks. The average inflation rate predicted by the market over the next ten years is 2.25%, based on the break-even spread in the 10 year TIP, so there is almost no real rate of return likely from that investment BEFORE TAXES. That individual says that the will buy some blue chips when there is a 30% correction, assuming I suppose that the market does not go up more than 30% before correcting 30%. Maybe he will but I doubt it. More likely those investors will be waiting for another 10% decline, making all kinds of excuses for avoiding risks.
    9 Aug 2014, 03:01 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    Well said SG, I am like you. No pension, we pay our own medical insurance & really can't afford dental insurance : )

     

    Maybe I'm a tad jealous of my friends....because I wish my husband & I had been managing our investments better. It wasn't until I took over that we really started to make some good decisions. My husband was too busy with his career to really manage our retirement investments. So I had to learn.

     

    All those financial decisions you make in your 20's really can make a huge difference 40 years later.

     

    It is so true, how much you earn has nothing to do with how much you save, and how well your investments will turn out. Start young, invest wisely & you will do just fine. My dad told me that when I was in my 20's. Just wish I had taken over the financial investments earlier : )
    9 Aug 2014, 06:46 PM Reply Like
  • BlueSkyForever
    , contributor
    Comments (2102) | Send Message
     
    You know, I think you hit the nail on the head SG. He's got the cushion that his pension & medical insurance create. So he's being extremely cautious, not wanting to lose the large amount of cash he's managed to build over the years, investing wisely.

     

    Taking profits made sense to him. When he sees a good opportunity to get back in the market, like a 10% or better correction, he will.

     

    Trouble is, I'm wondering if we will even get that big of a correction.

     

    Having shares of top quality companies that pay a dividend seems to make more sense to me. Along with some higher dividend payers like (NYSE:PTY) (NASDAQ:PSEC) (NYSE:TCAP) etc.

     

    I've got plenty of cash too, but that's mostly because I worry about paying bills....like 3 years worth.

     

    I'm working on cutting expenses. Likely we will be selling the house soon, downsizing & moving to a place that is less expensive. Makes no sense to stay in NJ.
    9 Aug 2014, 07:05 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    BSF: It is important to always be careful about spending. Except for three years when I went nuts and leased a new Jaguar, I would buy a modest car new and drive it for a least ten years, usually longer, and would not buy a new one until the cost of keeping the old one running no longer made any economic sense. That saves a bundle over 40+ years. I am now driving a 2007 Saturn Aura.

     

    Any money that is saved and invested prudently over a long period of time will build up and make it more likely that an individual will realize their goals later in life. I recall reading a book back in the 1970s by Andrew Tobias, "How to Get By on a $100,000", where he comically referenced his acquaintances spending habits that constantly left them destitute even though they were making good money for that period. They were spending rather than saving and investing.

     

    "Getting by on $100,000 a Year (and Other Sad Tales)"

     

    http://amzn.to/XRsaR1

     

    I funded my retirement accounts from my taxable brokerage accounts that were invested almost exclusively in stocks until about ten years ago, and those accounts were funded through savings many years ago. I have not added funds to those taxable accounts since 1984, nor did I ever withdraw any funds during my accumulation phase to pay any expense. So I have been playing this investing game a long time.

     

    I started an IRA when I was in my early 20s. I view it to be important for most people to start early and to fund the account every year.

     

    I have never had dental insurance. After paying for about 10 caps, with the first one costing about $300 and the last one over $800, I started to get serious about taking care of my teeth better.

     

    I also view it as important to live in a low tax state. As I mentioned to you earlier, my property taxes on my home in Brentwood, TN. is slightly over $2,000 per year. Money that is not given to the government can be invested. And, I paid no state income tax on earned income since moving back to TN from Silver Spring, MD, where I gifted 7.5% of my income to MD and Montgomery County when I was working in D.C. I would be in a far less desirable position if I had paid NJ property and income taxes since I moved back to TN and built my current home in 1982, paying cash for everything.
    9 Aug 2014, 07:41 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    South,

     

    "I also view it as important to live in a low tax state. As I mentioned to you earlier, my property taxes on my home in Brentwood, TN. is slightly over $2,000 per year. Money that is not given to the government can be invested."

     

    so true -

     

    My NJ taxes 6 years ago were 12,000 , probably higher now

     

    S. Car. today --- 2,700 and I have a larger home here...

     

    so approx 60,000 in my pocket in the last 6 yrs.

     

    I feel like i completed a tax inversion - LOL
    9 Aug 2014, 08:56 PM Reply Like
  • Tack
    , contributor
    Comments (14127) | Send Message
     
    FG:

     

    Some union will decide it's not fair and insist you move back to NJ, just like the Boeing affair.
    9 Aug 2014, 09:03 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    T,

     

    LOL

     

    I will go back kicking and screaming

     

    & of course Obama will label me "unpatriotic" ---

     

    what a joke !!
    9 Aug 2014, 09:07 PM Reply Like
  • South Gent
    , contributor
    Comments (4024) | Send Message
     
    F & G: I did my "tax inversion" in 1981 after paying Maryland $25,000+ in state income taxes on top of the other state taxes. The maximum federal tax rate on earned income that year was 50% and much higher on unearned income. Until the Bush tax cuts, dividends were in effect taxed at the highest marginal tax rate.

     

    After I moved to TN and established a residency, the MD tax authority sent me letters for a couple of years at my TN address wanting to know why I had quit paying MD income taxes. It is good to be missed sometimes, but not by the MD tax authorities who finally gave up recognizing that their tax authority did not extend to TN residents earning income in TN.

     

    When I moved back to TN in 1982, and built my house, my first year's property tax was about $400 in 1983, and I did not have to pay any income tax on earned income. I invested the savings and that mounts up over the years. The key was to invest the savings rather than to spend it frivolously. I wish that I still owned some of the investments made in 1983.
    9 Aug 2014, 09:43 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    Same experience with us. IL prop tax was $4,800 when we left on a 1500 SF house on 3/4 acre. Here, our prop tax is $1,016 on a 2300 SF house on 2 acres.

     

    No state income tax is just icing on the TN cake. I'm happy to pay 7.75 - 9.75% sales tax...
    9 Aug 2014, 09:56 PM Reply Like
  • jbzw
    , contributor
    Comments (798) | Send Message
     
    Great idea to move when you did. Many more have followed and will continue to do so. The max income rate in Md and MoCo is now around 9% plus all the other taxes, including the shopping bag tax.
    10 Aug 2014, 10:02 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3980) | Send Message
     
    For those curious (I was), the Montgomery County, MD "shopping bag tax" imposes a 5-cent tax on each and every paper or plastic shopping bag that a customer gets at the store (such as to put your purchased groceries in).

     

    1-cent goes to the retailer (yay profit), and 4-cents goes to the county for "water quality protection".

     

    From looking around, it seems this type of "tax" is en vogue in several places across the country.

     

    Too many damn taxes....
    11 Aug 2014, 10:21 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » JBN

     

    It is a lot of "little taxes" that get bothersome! ...but the bag tax is a way to get customers to start using reusable bags. ...a very "liberal" county by and large.
    11 Aug 2014, 10:25 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6262) | Send Message
     
    South,

     

    Good commentary, the last two paragraphs puts it all in context for those that believe they will outwit the market, waiting for a correction or "think" they will buy when all looks bleak --

     

    from my experience over the years with people/investors -- it doesn't happen ----

     

    9 Aug 2014, 04:19 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5214) | Send Message
     
    Author’s reply » -

     

    A new chapter 35 is right this way....
    http://seekingalpha.co...
    11 Aug 2014, 11:12 AM Reply Like
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