Godzookz! Could he possibly know what he is talking about: November 20th, 2008
November 20, 2008 – 6:39 pm
Well hello there!
For those of you who follow me on a regular basis, here is a bit more concrete evidence that we will see 6000 dow. Since February, I have had this target on a bullseye and well…..according to some recent events, it looks like the plan is set in motion. Once we start entering the 6500-6750 range, I advise my fellow chasers to start aggressively purchasing stock. By Aggressively, I mean taing all free cash you have have purchasing equities. as you know, there is a untold disclaimer in the “stock advice” world and realistically, my advice as well as many other people’s should be taken with a grain of salt, but I just hope you will take what I have to say, do a bit of research and make an educated decision on your own. I am not the perfect trader/investor, hell I have taken a steep loss the past two weeks but the few things I have done to minimize these losses are:
1)Keep free cash handy
2)set stops
3)hedge when appropriate
Along with this, it is almost impossible to trade this market and the volatility is sky high. I have never seen the market move the way it has, moving in 1000 point ranges per day. That is a YEAR worth of moves people….
As you guys know, I have my diabolic, almost mischievous plan set up as to what to invest in. One of the main reasons why I have been getting hammered more than most is due to the strategy. Basically put, my three money making opportunities of a lifetime are commodities, financials and energy. My portfolios are very energy and commodities heavy and I have paid dearly. I am not ashamed to admit that I have taken losses, but I am fairly certain I will end up on top later on. Also noted is that water transportation, otherwise known as drybulk shippers, ties in directly with commodities. The big headline earlier in the year was how these companies had flourished but now are down in the dumps. I personally own a small stake in Paragon Shipping with a dividend reinvestment program. Think of how any shares I am picking up this quarter at a 53% dividend rate, wink wink. Perhaps I will be on the board of directors one day?
So remember guys: have cash handy, start scaling in aggressively in the 6500 range and be safe
2 Responses to “Godzookz! Could he possibly know what he is talking about: November 20th, 2008”
for long term plays in these 3 sectors, what % stops do you recommend placing?
By Joe on Nov 21, 2008
Here is the problem. I have no problem setting stops but with some of these companies paying these inflated dividends, it is really hard to set a stop. For instance, if you bought GE today, it is like saying you purchased in at 10% off face value a year from now if you collect 4 dividend payments.
By jmoon on Nov 21, 2008