I had a horse in the race when the Dow went into freefall in 2008. I just couldn’t sleep at night because I had a lot of money on the table. So I would get up in the middle of the night and watch my stocks. Finally, had enough and sold out all my positions. I warned a few folks too that the market was about to go into freefall.
How did I know? I am not sure. But boy was I right. Some of those stocks have never recovered especially some of the tech stocks on the Nasdaq. I had lots of tech stocks and some bank stocks that went to zero.
One in particular was bought up by JPMorgan and I 10 shares based on the amount I lost and the JPM hit 50.00 and I sold that shit before you could say JPM. That stock has never returned to 50 but is close now. When it was down to 25 I should have bought a boatload because it also pays a dividend.
My new tack is that I buy a little bit of everything and my present positions I can hold for a year or more because I don’t have the same amout of money on the table. And it seemed that the dump in May plan was in place but hell nobody told me.
So there I was in California and the freefall in the banking began. The stock I owned in that bank went to nothing, forgot the name but like I said JPM bought it and I got 500 dollars for what I am sure I did not spend on the defunct stock.
I like bank and tech stocks. Call me crazy. I have BIDU stock now and I recall when it was worth 300/share. I should have bought it when I saw it for 100 but I have a few shares and hopefully they will grow. There is still lots of room for the Dow to zoom higher to 1400 eventually.
- Apple, Google about to join Dow Jones stock index? (news.cnet.com)
- Stocks Surge on Strong Manufacturing Report (thestreet.com)
- Apple, Google could join Dow index: report (thestar.com)
- Why the Dow Needs Apple and Google (wealthwire.com)
SIRI=sirius has the potential of going big. I usually check with about five different sites before I decide like “seeking alpha” “Barrons” and Reuters. So I stocked up on Sirius because it is under 2.00 I think. It’s my radio stock. But I went with Al Gore and his Centinel back when and then the dude got sued for 75 M I think and of course the stock went to zero.
No matter because Al Gore is now super rich because he invested and is on the board with some of the richest Jewish and non Jewish geeks in the tech biz i.e., Facebook, Google and Apple. However his own company which was some kind of radio plus there was the TV station but the stock was for the radio station .
Something about Fridays: that is actually a good day to buy stocks because the prices drop on that day as sellers are getting money for the weekend or something. I am not taking my own advice on this as I should but this Friday the gains on the Dow and Nasdaq did hold so that’s a good sign.
I could have gotten all the stocks I have now if I had bought when the Dow did that big drop a short while back. Here’s one way the 99% can strike back–with stocks!
GE = General Electric
BAC – Bank of America
F = Ford
AUQ= a gold mining company out of Mexico that sounds promising
a new stock relatively SIRI see above note
I got burned on the Microsoft and Yahoo last time. I did not buy Micro because it seems stuck in the 20-dollar range forever lately. I lost on Micro last time. Lost on Yahoo but got a few stocks cheaper. BAC was just too cheap to resist. I think I paid like 5.02 per share at the last batch but more like six something on the first go round. But obviously the short or long sellers took their cut but the BAC is back on the rise.
U.S. stocks closed near flat Friday as investors considered a drop in America’s jobless rate and the ongoing European debt crisis. Friday’s mixed trade came after this week’s bullish winning streak. The Dow had its biggest weekly point jump in three years.
After a sharp jump, stocks came off their highs as investors assessed the jobs report. This morning, the Labor Department said the U.S. gained 120,000 jobs in November and the unemployment rate fell to 8.6% from 9.0%. The government also revised jobs data for October and September to show that 72,000 additional jobs were created over the two months. Private-sector hiring in November reached 140,000, the agency calculated. http://seekingalpha.com/article/311578-dow-posts-biggest-weekly-gain-in-3-years
while i did not close my accounts at the major banks i was shopping around for an interest that was higher than 1 cents on the big dollar. so i joined my local credit union and they have a better interest rate. at least i can transfer money to a local institution. they will be surprised. i did it all online did not have to leave the house.
move your money or at least transfer some to a local credit union or bank in your city
- Bank Transfer Day: Over 75,000 Respond to November 5 Event (blippitt.com)
- Fees: Banks’ Gift to Credit Unions (businessweek.com)
Repairman (bi-racial) Faces Charges Of Cleaning Out Bay Area ATMs, Refilling Them With Counterfeit Bills
“He went into seven of these machines, took the cash out and replaced it with counterfeit, and not sophisticated, just simply taking some bills, placing them on the Xerox machine, cut them up and put them in its place in the machines,” said Steve Wagstaffe, San Mateo County District Attorney.
- ATM repairman accused of loading fake money (sfgate.com)
- Diebold employee and ATM repairman accused of swapping $200K in fake bills for cash (boingboing.net)
- ATM Repairman Accused of Filling Machines with Fake Cash [Crime] (fakeiitian.com)