I would like to finish just one damn story. anyway, its already been well-established that redefined is a Douchey Dallas Day-Trading Dirk-Digging Dirtbag, so I won't expound on that.' btw... I dare somebody to try and say Douchey Dallas Day-Trading Dirk-Digging Dirtbag 3 times out loud. Do it. Right now. In your cubicle. I dare you.
I just get this feeling, that while we're in for more tough times, for some uncertain amount of time, this economic downturn and recession, this general restructure of the economy, sloughing off of bad debt, savings increase, and general market readjustment is going to result in an excellent economy long term. Basically, we'll get back to basics, stocks will be under or more fairly valued, and we'll be able to have a more respectable and under control housing market that will have good, long term, slow growth.
I'm trimming my DTO position a bit today and adding to the UWM. I think next week is going to be a good week for the bulls. I'm still not clear on what happens to oil from here -- right now it's testing the $70 support, but ultimately I think it needs to test either $65 or $60 before we can see any significant bounce.
What do you guys think of Spint-Nextel as a long (~2 year) hold? Financials are bad, Customer numbers are declining, but its infrastructure is probably worth more than it's market cap.
What's making you say "in the next 4-6 mos"? I'm not saying you're wrong, but I always like to see why people pick the time frames they do. If it's just a hunch, that's cool. Over the past couple of days, I bought into some MCD and MSFT on big dips for the long run. I'm still looking for other long-term stocks. Some of these steel stocks have been obliterated, but I don't know what demand for steel will be like over the next few years from China, India, etc. In the meantime, I'm content loading up on "boring" stocks for the long haul. I'm still sitting mostly in cash. My 401k is untouched, I sold half of my IRAs a few of weeks ago to have some cash to re-invest, and my trading account is all cash at the moment.
I used to work for WebLink Wireless (formerly PageMart) several years ago, and that's the exact same thing we said..... before going bankrupt. lol. Not saying this will happen to Sprint/Nextel, but in a market like this, why not look for good stocks that have been beaten down instead?
funny you should mention that. last night, i was talking to a friend who's parents owns an iron ore mining company in indonesia. she was telling me how they're stocked up on a lot of raw material because of the lower demand from china.
I own some GSI, which has been obliterated recently. I have read some articles indicating the steel factories in China are cutting back on production, so they see demand decreasing.
Interesting article that I thought folks in this thread may enjoy reading : http://www.cnbc.com/id/27239479
I have been working on a solid investment strategy. If you take $100 a week and short Texas A&M football (bet against them on the spread) and reinvest your dividends(winnings) into the next game you could become a very wealthy man. STD (season to date) this investment is up 6400%. The symbol is TAMU.
GSI! Hah! One of my favorite volatility stocks - played it several times. Just to make sure you know, GSI isn't even a top 10 Chinese steel company. Lots of small/"mid-cap" Chinese companies on American exchanges are very risky business and they love to screw around with their financial data (of course we've seen that US companies do it too; they're just better at spreading it out and making it look more legal). I can name so many bogus reportings - favorite one being GU because of how much Cramer touted it. China is not going to stop wanting steel. I go there every year at least once and it will be a long time before 1.3 billion people worth of infrastructure and metal goods are fulfilled. People don't realize until they go see for themselves how many little Shanghais and Beijings are sprouting up all over the country. FCX, X, RIO all look fine on big dips to me. Again, don't see bottom yet - but realized I might have missed a chance to get an "Obama" portfolio before he gets elected. Maybe no hurry either; I am still in the "at least couple years of downturn" camp.
FCX is definitely on my possible buy list, but copper prices have been taking a beating lately and they report earnings Tuesday, I believe. I can't believe I owned this in the 80's and low 100's not too long ago. It's a $35 now... wow.
