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Old 07-18-2011, 12:31 PM   #16
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Quote:
Originally Posted by lasvegaslenny
So I am holding my money back until after my predicted hit comes and at that time I will buy into a mutual fund.
It's hard to know how the market will react to the debt ceiling. It could happen the other way- that the market views it (the raising of the debt ceiling) to be inflationary and stocks rise instead of fall.

It's hard to predict what the market will do. In the words of Jesse Livermore:
"The stock market is never obvious, it was designed to fool most of the people, most of the time"

You could buy in with half your money now and buy in with the other half after the news. A lot of traders use this strategy when they want to take a position in a stock, but are unsure of how an event, such as an earnings report, will affect the stock.

Another option, since you have an E-Trade account would be to buy an ETF instead of a mutual fund. They are diversified but tend to have less management fees. And you can buy and sell them like a stock.

The SPY is an ETF designed to track the S&P 500.

http://finance.yahoo.com/q?s=spy&ql=1

If I get time, I may post a chart later.
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Old 07-18-2011, 08:24 PM   #17
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I know this thread is about investing but retaining more of your money could be useful for investment purposes. For those of you with health insurance and questions about what plan is for you, here is a website which is really a fantastic tools. It basically helps you manage your healthcare and it is FREE.

It allows you to manage and understand your healthcare expenses and gives you the tools to optimize your benefits and lower your costs. Maybe you can take some of your savings and invest it!

http://simplee.com/

Oh and here is one for your investments and finances. I didn't realize I posted the health one first.

https://www.mint.com/what-is-mint/
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Old 07-18-2011, 09:55 PM   #18
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Living in Vegas of course I'm a gambling man....

I would never put any serious money on pennies but I have been watching some and its like having a blackjack table at home.

I would have made almost $400.00 bucks today had I actually been trading this one.

http://finance.yahoo.com/q?s=ONTC.PK

I could see myself getting myself into trouble with this new e-trade account!
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Old 07-18-2011, 10:13 PM   #19
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Lenny........JUST SAY NO!

Watch this movie.........pretty good explanation and funny too!

http://www.youtube.com/watch?v=cDpPl...layer_embedded
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Old 07-18-2011, 11:07 PM   #20
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This is a chart of SPY, it's an ETF that tracks the S&P 500. Basically, if you want to "buy" the S&P, you would buy this stock. This chart was printed previously and doesn't have today's action on it.


The market has been in an uptrend since 2009. For most of this year, it's been consolidating between 125 and 135 (on this chart). We'll have to see whether it continues up, breaking above the blue line, or heads downward, violating the uptrend.

The RSI (above) and the Money Flow (bottom) have been declining while the S&P has been in this consolidation pattern. This is called "negative divergence", and could be an indication that the market will break lower. Keep in mind, this is not set in stone. If the market behaved predictably, everybody would be rich.

Basically, I think caution is in order. I would wait to let the market tell you which way it wants to go.
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Old 07-18-2011, 11:21 PM   #21
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Gold has broken out and is now at all time highs. The chart below is gold, the metal, and was printed up over the weekend, so it does not include today's action. It closed above $1600 today.

Basically, gold has been in an uptrend since 2009 (on this chart) and was in a consolidation pattern since April of this year. It has since broken out and we'll have to see how high it goes. Jim Sinclair (known as "Mr. Gold") says 1764, and he's been more right than not.

http://www.jsmineset.com/
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Old 07-18-2011, 11:23 PM   #22
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wheres Jack Hamilton... lets go panning Mang!!!
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Old 07-18-2011, 11:34 PM   #23
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The XAU is an index that tracks mining companies. It is not a stock. It is made up of 15-20 mining companies, mostly gold, but a few silver. It is useful in that you can kind of tell the direction of the mining companies, in general.

As you can see, the XAU has been consolidating since Oct 2010. We'll have to see which way it ends up breaking out. Since gold has broken to the upside, it wouldn't be surprising if this ends up following suit.

It's interesting to note that while gold has gone from 1300-1600 since October, the XAU hasn't done anything. The lesson is that just because gold goes up doesn't necessarily mean that this will follow suit.

I listed the ticker symbols of the mining companies that make up this index on the left hand side of the chart.
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Old 07-18-2011, 11:48 PM   #24
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the one that just bought out my mining comunitee is Free Port Macmoran how are they doing? it seems to be good here as more and more are getting hired here..
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Old 07-19-2011, 08:15 AM   #25
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Cramer had a spot on mining companies last night, he said that even if Gold keeps going higher the mining companies stock cant because theyre cost to get it out of the ground and the amount they can pull out is basically fixed.

He says (and I dont know how good or bad his advice is) is that buying GLD is a good way to own gold without actually buying physical bullion.

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Old 07-19-2011, 06:06 PM   #26
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I think the time is now for awhile for the stock market,it is going up for 6 months,maybe even a whole year, it is an election year coming up,no way the govt. will let it tank.
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Old 07-19-2011, 06:11 PM   #27
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I agree with Dave for similar and different reasons. I hope it does, I have a lot of clients money riding on it. If it tanks though, no cause for alarm as they can't lose a penny either.
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Old 07-19-2011, 10:22 PM   #28
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Just on a side note, as ben had mentioned annuities earlier. Honestly I didn't pay a lot of attention because I know he sells them LOL. But I have been looking into a few and was just talking to my dad today (who is a pretty big investor) and he told me right now he is in one that guarentees 8% with no loss.

I'm getting more interested...
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Old 07-20-2011, 12:37 AM   #29
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I don't think there is any doubt about the stock market being manipulated, to a certain extent. But there's still a lot of time until the next election.

Potentially, there could be a crash in the near term to put pressure on Congress to raise the debt ceiling. But, over the next year, or two, I think the market will be higher than it is now.
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Old 07-20-2011, 12:46 AM   #30
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Someone mentioned Freeport-McMoRan (FCX) earlier, so I pulled up the chart, and it looks interesting. This is a more-copper-than-gold mining company.

FCX is in a wedge pattern and the RSI below is showing positive divergence, which may indicate a breakout to the upside is in the cards.

The way I would play this is to set a buy just above the top wedge line at, say 56.25. If the stock breaks up- you buy it. If it doesn't, you stay out of it. After you buy it, I would set a stop back below the top blue line, at 55.75. That way you know what your potential loss is. Assuming the stock moves up, you would ratchet your stop up along with it and lock in your gains.

edit: I just noticed the stock closed today at 56.30. This chart was printed up yesterday. So basically, in the scenario I posted above, you would have bought the stock.
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