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   Strategies & Market TrendsBuy and Sell Signals, and Other Market Perspectives


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To: GROUND ZERO™ who wrote (43029)1/2/2013 12:34:07 PM
From: Keith Feral
   of 178002
 
I'm still long too, just burning up some profits today.

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To: Joseph Silent who wrote (42899)1/2/2013 12:52:48 PM
From: Joseph Silent
   of 178002
 
I can say with some certainty now that we will see 1500+ in weeks or by March, though

I have no idea how we will get there. By that I mean we have to get past 1464 and 1475 first. So at one or at both places there is likely to be some kind of reaction.

Once we make a new high past 1475, the mid to high 1500s becomes a certainty.

Keeping my fingers and eyes crossed for good luck.

:)

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To: Keith Feral who wrote (43030)1/2/2013 1:02:40 PM
From: GROUND ZERO™
   of 178002
 
Since we did hit a minor VP, I wrote at the money calls on my longs... i don't have to be greedy I'm happy no matter what...

GZ

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To: GROUND ZERO™ who wrote (43032)1/2/2013 1:11:05 PM
From: Keith Feral
   of 178002
 
Dollar gathering some strength today. More than happy to take a few profits.

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To: GROUND ZERO™ who wrote (43032)1/2/2013 1:36:23 PM
From: FCom777
2 Recommendations   of 178002
 
Today's price action formed a huge gap that will likely be filled at some point.

My guess is we close strong today toward the highs, trade up tomorrow morning and close tomorrow lower - starting the reaction to fill the gap at the low 1420's.

Think a lot really depends on the Pubs reaction to OVomit's claim that he has the authority to unilaterally raise the debt limit via Executive Order. If that's the case, then the sky is the limit ... gap or no gap.

I doubt that the legality of his contention is valid. That action would trump the House of Reps Power of the Purse - which would seem to be a fairly well established principle in American government.

Think the key question is still - Are these clowns in Congress actually working together to destroy the American middle class ? Are the party line positions simply for show to keep public opinion divided roughly 50/50 ? Or do they really mean their stated positions. Like I indicated in an earlier post, I was really surprised that we all didn't get the Royal Screw by having the House of Pubs vote against the Fiscal Cliff measure.

Taxes would have risen dramatically - costs cut at least a little bit - and we would have taken a reasonable step to close the budget deficit. And each "party" could have blamed the other ... so that neither party would be held accountable.

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To: GROUND ZERO™ who wrote (43009)1/2/2013 2:22:15 PM
From: Vendit™
   of 178002
 
The pop was big across the board as you and others pointed out. I'm having a very good day!

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To: GROUND ZERO™ who wrote (43009)1/2/2013 2:30:19 PM
From: Brian Sullivan
   of 178002
 
Well, Today the US tax code is finally a known quantity and in the final version it is very favorable to equity investments. For the ultra rich they now get a > 40% rate on earned income but only a 20% tax rate for capital gains or dividends. You can be sure that their future earnings will now shift into equities to generate income in these two areas.

I actually like the new Tax code a lot as it applies to investments.

Since I went to all cash last Friday, I had to buy back a lot of my positions today losing the 4% move since Friday, ouch!!

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To: Brian Sullivan who wrote (43036)1/2/2013 2:38:02 PM
From: Fiscally Conservative
   of 178002
 
Wow ! Brian. Why not just wait and let the market come to you ?

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To: Fiscally Conservative who wrote (43037)1/2/2013 2:55:06 PM
From: Brian Sullivan
   of 178002
 
I have mostly value stocks with low PE and high dividend payers. I was wrong about Congress being unable to pass the Bush Tax cuts. I think that this will eventually be seen as a victory for the Republicans and I am happy with the bill that was passed.

Also I believe that the trend for the market will be up at least until the middle of February.

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To: Brian Sullivan who wrote (43038)1/2/2013 3:16:15 PM
From: robert b furman
1 Recommendation   of 178002
 
Heck they did pass the Bush Tax cuts - except for those couples who make over $450,000.
Of course as far as the first $450,000 income is concerned for those who make more than that cap - they get the benefit up to that level.

They made it permanent not renewable - that is important to me.

I remember 20 % cap gains taxes and on dividends - it was at the same time we had a powerful bull market 1999-2000.

I've not made that kind of market money since.

Now to strangle entitlement control day by day and we'll have avery good market IMO.
Note to file I'm a staunch conservative and a long time Young Republican so that's my spin on it.

Strangely it seems the Dems guard capital gains at low taxation rates and boost cap gains when benefactors have to pay more.Perhaps just my paranoia.LOL

Bob

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