Hey Sammy...should I quit now?

[KFC911]

How can I delete this thread now ? I was never a market timer....other than 9:30 am and 4 pm...just always in...

Just curious what the overall P/E ratio is right now for the S&P as a whole....gotta be too pricey!

I do accept Bitcoinz for helping you guyz out btw !

[sammyg2]

No doubt it's over-bought considering today's fundamentals but the market is priced based on future conditions, or at least it's supposed to be.
How far in the future?
That's the hard part.

Lots O'folks got the idea that all we have to do is flip a switch and the economy will pick right up where it left off and they are investing based on that fallacy. That drives the prices up higher and faster than is appropriate but eventually the hang-over will kick in.
The recovery is not gonna be that easy or fast, it's gonna take years to fully recover from this self-inflicted BS.
I figure October will be really ugly this year and it'll have nothing to do with a bug.

So, do we sit on our hands and shake our heads in disbelief as everyone else makes gobs of money or do we say "I gotta get me som a dat"?

I've been pretty aggressive lately and its paid off but in a month or so maybe I'll back off. Til then I'll try to buy on dips and sell on peaks but stay in most of the way and most of the time.

But as long as there is lots of money on the sidelines (and there is) and as long as the gubmint subsidizes the stock market with IRAs and 401k's, there will be an upward pressure on the markets. That momentum is really strong now and until it peters out (giggity) there's good money to be made.
Plus a lot of folks (like me) are betting some miracle medical breakthrough will show up and the markets will go batsheet crazy high.
I'm better than even from peak on Feb. 19th and if I were smart, I'd stop being so darn greedy. But it's too easy now.
All I need is a little more ........

[KFC911]

Greedy bastid ....

My long term strategy is laid out...no regrets here. Ya gotta pay attention...and I don't anymore.

BTW don't park yer cash in a brokerage MM account....even though nothing is paying squat in interest now....at least have the FDIC covering yer back.

I need to buy some more online short duration CDs...

Yer welcome ...

[sammyg2]

i figger if something hits the fan bad enough to take out fidelity, merrill lynch and prudential, the FDIC will be passing out monopoly money. More than they are now I mean.

Hopefully that'll be a next gen problem

[sammyg2]

Just sold remaining 1200 shares of SPY filled at 310.70
Take it and run.
I'm really concerned with the uptick in volatility, lots of money to be made and lost but I doan wanna be on the wrong end of that stick. July scares me and i'm fearless.

Going more conservative, more emphasis on stable dividend equities and such. Got away with being greedy for a while. On borrowed time as I see it.
Still got them shares of tsla tho, stupid things are at $1111 now, 40.35% increase in six weeks. Nobody said life hasta make sense. I'll prolly ride that turkey into the ground just fer entertainment value

[mgatepi]

Time to take a hard look at the over sold Airlines and Cruise stocks. These are the bargains right now.....got balls?

[sammyg2]

Gotem, but they be hanging low too low to be buy airlines right now. That's younger man money

[mgatepi]

[sammyg2]

[sammyg2]

Hey Sammy...should I quit now?

Yes. It's time IMO.

A while back I had set limit orders that would net me roughly 10% over my previous overall peaks YTD, and this week they were executed with the last big ones this morning just after open.
As of right now the only equity I still own is some tesla table scraps and I'll keep them just fer sheets and giggles to remind me how irrational the world can be.
I don't what the future holds but I'm a bit spooked and I locked in more profits than I'll likely need so it's time to stop playin.

Believe it or not I'm actually contemplating hiring a financial advisor.
I know, huh?
Goal would be stable and safe with minimum downside, average annual return of 4% or better (after fees). I'm confident I could do that so it would be easy for them.


Question for those in the know regarding full-on wealth management advisors who charge >1% annual fees:
How active is their involvement? Do they make constant changes and tweaks to a portfolio throughout the year or do they set up a (s)tragedy* and then passively check it a couple times a year?

I just cannot stomach the idea of paying someone that much if they do very little.

Do they know more about this stuff than me? obviously.
Do they have access to information I don't have? of course.
Can their results outperform my efforts in the long run? Maybe. Probably.

Is it worth it? Like a bitter pill, I may have to eventually swallow it.

Tanks in advance.

* PS I thought that was funny. Doesn't take much.

[mgatepi]

From my experience, to really get the attention from a good FP, you need to have a much stronger portfolio than I do. Otherwise they stick you into the current formula pushed down by their brokerages. Lucky to hear from them 3 times a year other than a mass email.

[Steve Viegas]

My understanding is that the 1% fee is charged "because it would be less expensive than all of the commissions on the orders they would be placing." Supposedly it would allow them to constantly be fussing around with your account and you not needing to worry about the costs.

I like to make speculative plays in the market. I enjoy the rush of watching a position I take pick up steam, but I don't do it with much at stake.

Personally, I think you are better off buying and holding for the long term. If played that way, commissions are minimal and there is a reason why people have basis of less than $1.00 in Apple, or even Microsoft.

If you have time, and the inclination, I would recommend Reminiscences of a Stock Operator. It was written in 1923, but it still holds water today. You get to see the grubby underbelly of the early exchanges. A Conspiracy of Paper is also an excellent read on the subject, but fiction.

[trader220]

I have had quite the shock after joining a couple of the market and options groups on Facebook.

[sammyg2]

How so?
I don't do FB so ....