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SP500 clinging to round number support @ 1050 level:
http://stockcharts.com/h-sc/ui?s=$spx
investors, for those of you thinking stocks are cheap, they are going to get ALOT cheaper on an SP break below 1040
Oil set to test critical support @ 70:
http://stockcharts.com/h-sc/ui?s=$wtic
Might very well test 60-65 region if 70 does not hold IMO
VPLM ~ Another day down and another seller gone. One less person to churn thru on ask. Looking forward to those filings
Added more AXTI in 5.20's... value/growth play
SP500 support found in 1050-1055 region. Test and eventual break of 1040 would lead to a break below the yearly low of 1010 IMO
PR's on hold until filings are brought up to date. I know no one wants to hear it (including me) but I am told that we are very very to that stop sign coming off. Should not be more than another 1-2 weeks at the most. Also, I know for a fact that the company has tremendous news flow ready and waiting but they want to do it with an up to date pinksheets standing to add to their credibility. Personally, I can't blame them on that account, would be lying if I said I wasn't frustrated by the delayed filings. However, I think Melissa learned her lesson about promising things by a certain date and how quickly that can back fire. Rest assured we are fine here. There have been alot of bidwhacks over the last 4 weeks and I reckon the stock is pretty thin on the way back up. GLTA
SP500 resistance respected between 1078-1088, further downside remains likely IMO
Yep, certainly doesn't seem positive for the markets. Seems like alot of money is coming OUT of equities, on top of the money that has already left the marketplace the last 24 months.
I'm watching TBT and TLT like a hawk to precede any turn in the stock market:
http://stockcharts.com/h-sc/ui?s=tbt making fresh all time lows
http://stockcharts.com/h-sc/ui?s=tlt making fresh all time highs
Actually I prefer FAS, at least for the first part of the week. Remember, Monday, year to date, represents the best performing day for the markets. On a technical basis, FAZ looks like it peaked in the short term Friday, while FAS looks like it made a short term bottom. I'm watching 1065 on the SP for support and 1078 for resistance. I think any rally will be capped by former support which I am looking to become resistance @ 1088, on the downside, I think a solid break below 1065 could send the markets reeling. Sold out of my FAZ position and calls on Friday after it failed to really bust thru the 16.40's. Will look to reenter ahead of the weekly jobless claims number Thursday.
By the way, Wassup BENZ? You driving one yet???? Rumor has it you been doing quite well the last few weeks, lolzzzzzzzzzzz
FAZ ~ http://stockcharts.com/h-sc/ui?s=faz needs to close above that 200 SMA day (16.26 coming into the week)
FAS ~ http://stockcharts.com/h-sc/ui?s=fas has closed above it's 5 day SMA twice in the last 12 trading sessions (19.73 coming into the week)
Well, funny you should ask. Here in Chicago where I live, a new Trump Tower went up in 2007. When they were selling units there was such a strong demand initially. So much so that Trump Tower bought back a huge percentage of the units they had sold thinking they sold them too cheap. They figured, let's buy them back and sell them at even more expensive price. Well, it just so happened that this "idea" turned out to be the buildings undoing. Currently, more than HALF of the units are left unoccupied. There's a restaurant along the Chicago River (which the Trump overlooks) that my wife and I were eating at just yesterday. It was amazing to us to look at the Trump and notice that probably 20% of the entire building had lights on, keep in mind this was around 8 pm so it wasn't as if people were just sleeping. I actually know of a couple families who are seriously considering buying units there because the prices are so depressed due to the real estate blunder the Trump group made when they bought back all the units. Personally, I believe that land is an undervalued asset right now. If you look at the Case-Schiller Home Price Index you can see that housing prices have pretty much fallen back towards where they should be according to the model. As a matter of fact, if prices continue to drop, prices will actually fall below the average price indicated on the model, representing what could be a very very profitable opportunity for savvy investors who can afford to wait a few years for a return. I don't much about REIT's or even many equities in the housing/homebuilder sector. I'm of the belief that condo's in high rise buildings are the new home in the suburbs, as alot of these luxurious condo's offer all the amenities one could think of. Living in one myself, with a gym, grocery store, movie theater, shopping center, out door patios, lounge area, we have a hard time figuring out why we ever need to leave, lol. If you're interested in a really great book that is the foundation for my thinking when it comes to real estate investing check out "The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It," by Robert Schiller. Hope you had a good weekend Shank and everyone, looking forward to a new week over here
pisa
Next Week: Retailers, GDP, Housing
By Neil Shah
Here’s Dow Jones Newswires’ Kathy Shwiff on what’s coming up on the corporate and economic news front.
-More U.S. retailers will report quarterly results. On deck: Coldwater Creek Inc. and Guess? Inc., both Wednesday; J. Crew Group Inc. on Thursday; and upscale jeweler Tiffany & Co. on Friday.
Also, Barnes & Noble Inc. is expected to report a big fiscal first-quarter loss Tuesday as the bookstore chain struggles with a changing marketplace for books and other media.
-Economists expect the U.S. second-quarter gross domestic product figure to be
revised down to 1.4% growth from 2.4% when the report is issued next Friday.
-And figures are due on July existing-home sales, which likely declined 4.3% from June, and new home sales, which are expected to rise 2.4%. The reports are due Tuesday and Wednesday, respectively. As for other economic data, the government will detail July orders for durable goods–those expected to last more than three years–on Tuesday. Next Friday, the Reuters/University of Michigan consumer sentiment index will release its final reading for August. Reports on regional manufacturing activity are scheduled Tuesday from the Richmond Fed and Thursday from the Chicago Fed.
Upper-Income Taxpayers Plan for Hike
By GARY FIELDS
Arch Brown has converted his traditional retirement accounts into plans with better tax advantages. Andrew Ahrens has been buying gold and silver and selling stocks. Archie Anderson might speed up the sale of two equities himself. Mike Henry is considering selling timber.
The four are among a growing group of high-income taxpayers who assume they will see higher taxes next year, no matter what Congress does to address the expiring tax cuts from the George W. Bush administration. More than four months before the expiration date, they are making plans to mitigate any impact.
Mr. Brown, a Tucson, Ariz., businessman, said he is working on the assumption that "the tax rates for people like me who have income over $250,000 will go up."
The maneuvering ahead of Dec. 31 has confounded traditional tax preparations and spawned feverish activity among higher earners, a trend reported by tax planners and financial advisers across the country.
Michele Knight, of Knight Accounting and Technology in Colorado, said she is fielding numerous questions from people who want to know the tax implications of starting a small business. She is advising them to create limited-liability partnerships, one way to organize a new company that might have more favorable tax rates for some. Others are interested in learning about changing their retirement accounts.
Jim Kirby, a tax partner with PMB Helin Donovan LLP in Dallas, estimates that 70% of his clients are calling about the potential tax increases.
"The third quarter is coming around, and people are getting concerned about what they should do to mitigate tax increases next year," he said, adding that he is hearing a lot from clients with property to sell.
Greg Rosica, a tax partner with Ernst & Young's Personal Financial Services practice in Tampa, Fla., said the looming increases were turning tax planning around 180 degrees. The pattern is normally to defer income until the following year, ever in hopes of avoiding or lessening the tax on it. Now "with higher income and capital-gains taxes [in store], it's accelerating income," he said.
It isn't clear exactly what will happen to the Bush tax cuts. President Barack Obama and most Democrats in Congress want them extended only for households with less than $250,000 in income and individuals making less than $200,000 a year. Republicans and a small group of Democrats say the cuts should continue for everyone. One option would see current tax rates extended for a shorter period, such as a year.
Then there's the default, if Congress can't reach agreement: Everyone's taxes will rise. Should the cuts be discontinued for the top two income brackets, the rate would go from 33% to 36% and from 35% to 39.6%. With the election season beginning, and a rancorous political environment, few would bet against the possibility of inaction.
Mr. Ahrens, of Ahrens Investment Partners in Lafayette, La., said 90% of the investment advice his firm is now giving centers on taxes. The firm is advising clients on how to defer income well beyond next year—for example, in annuities and retirement accounts, for when a client may have less income to tax—or bring it into the current tax year.
The investment manager is taking his own advice, in a number of ways, "to avoid the tax freight train coming our way." In April, among other steps, he "pulled out of equities and moved into hard assets like gold, silver and land." He said he will take other steps once the tax code is clearer.
Mike Henry, of Henry Wealth Management in Natchez, Miss., said he is trying to move up income that would normally be carried over into the next year. One idea is to sell timber growing on 500 acres of land he owns in Louisiana. He is considering that option even though timber prices have been dismal because of the prolonged downturn in housing construction.
Waiting for a better price on timber next year is "speculative at best," he said. "Even if the price does go up on timber, that increase will likely be eaten up anyway by the tax increases," Mr. Henry said. He said he is looking at other possibilities as well, including cutting back on his work hours and reducing his income.
"This is not tax evasion," he said. "This is year-end planning."
Mr. Brown, the Tucson businessman, said he converted his retirement accounts this year to Roth IRAs. With a Roth, withdrawals can be tax-free if certain conditions are met, while withdrawals from a traditional IRA are taxable. Anyone converting to a Roth must pay income tax upfront on any previous pretax contributions and earnings being moved into the new account.
Mr. Brown said he decided to convert and pay the tax this year, at the existing rates, in anticipation of what he thinks will be higher rates next year. It could save him thousands of dollars in tax payments, he said.
"I'm taking advantage of what I think will be the lowest tax rate for me in many years, and that's this year," he said.
It is hard to determine how many people are converting to Roth IRAs for this reason, however. While conversions are up this year, this was also the first year in which taxpayers earning more than $100,000 annually could take advantage of the Roth, so some people might have converted even without the threat of tax increases next year.
One frequently discussed option is stock sales. Mr. Anderson, president and chief executive of Options and Choices Inc., a Colorado data-integration and software-services company, said he has looked at a couple of equity holdings in his stock portfolio and decided he might sell them this year rather than waiting, as he was planning to do.
Capital-gains taxes, currently set at 15%, are set to rise. Treasury Secretary Timothy Geithner has said they should rise to 20%. Without congressional action, they will be treated as regular income and will be subject to a taxpayer's top marginal rate.
"As it gets on toward the end of the year," said Mr. Anderson, "I'll be thinking about those things more."
Write to Gary Fields at gary.fields@wsj.com
your he is actually a she
Why don't you help him learn "the game?"
No, only a board of director! LMAO
how you doing bt?
There are some rumors going around that "PISA bidwhacked PPBL the day the pick was announced."
LOL~ I will put an end to this bs right now, all at ask as well!... I DIDN'T EVEN OWN SHARES OF PPBL WHEN THE PICK WAS ANNOUNCED
I announced this pick to my email list in the 5's 2 weeks ago so all my peeps were in the green and hopefully smart enough to lock in profits!
I sold out on MONDAY for christ sakes... guys and gals, do NOT be fooled by posters and their tactics to trick you into thinking they weren't the ones that dumped all their shares
demand screen shots, not simple copy and pastes... anyone can change numbers when he/she is copying and pasting... hopefully this post will put to rest any question about the role I had in bidwhacking PPBL on wednesday... pretty hard to bidwhack something you don't of shares of, lmao
further more... wanna know WHY i sold out? well rumor has it that certain posters were compensated FREE shares of PPBL by the company to help push it... hmmm.. that certainly lines up with the 8k that came out a whole week before the 'mega pick' was announced increasing the a/s from 75 million to a 100 million imo...
the motto of certain posters on ihub appears to be, scam or be scammed.
EXPH ~ Nice move Moola:
http://stockcharts.com/h-sc/ui?s=exph
you brought that one to the board in the trip zips as I recall, anyone who followed your alert made at least 100%, keep 'em coming!
I think you your best bet is staying away from .000 stocks. Pennies are all extremely risky, but those ones are meant to be played with 'side money' IMO.
Nice BENZ~ can never go wrong taking profits, big or small.
Oh lord, lol. That doesn't sound good.
yes it is
Certainly, currently holding FAZ from 12.89 entry and picked up September 16 calls @ .95 earlier in the week, looking tasty now
So what are your thoughts pmlg, ey? I think we're heading back below 10,000, thoughts?
Will certainly contemplate it, nothing at all against Monk as I know he does great work. I just don't like to mix my message board friends with my real friends. Prefer to keep my private life just that, in name and face
Yes, traderlady saved some people some money, kudos to her. Myself? I bought some yesterday just to bidwhack it today and take a small loss, lol
Dang, already down $2,800. That sucks.
KSQR ~ what a disaster this one has turned out to be, sorry to anyone who bought on my accord. I recommended it in good faith and it has been nothing short of an utter disappointment. Nothing else to say other than that. I'm still holding but am currently on ask trying to take my near 70% loss and move on, d'oh! Win some ya lose some, so long as your winning more than you lose. This is a good lesson for me as I have a rule that I always cut losses @ 10%... obviously with KSQR I just kept averaging and averaging in thinking it would go and now I am paying the price. Just goes to show that you must ALWAYS honor your mental stops.
Not to mention management is about as smart as the cast of the Jersey Shore
http://www.investorsvoice.com/disclaimers/
my FAZ september 16 calls are treating me well 1.36/1.37 up 43% from entry just 3 days ago. These things are like mini penny stocks, except much more liquid
http://stockcharts.com/h-sc/ui?s=faz
AXTI ~ averaged up in the 5.70's today with limit orders in the 5.50's on down. Been trading in and out of this one since 3.30's... going to $10 over the next 6-12 months IMO
GAME ~ showing strength in a red market, hit 6.88 today... this one wants to go higher IMO
http://stockcharts.com/h-sc/ui?s=game
valuation/growth/china play
Screen shots of your executions for the last 1 month please... nothing else
GAME ~ I urge all serious investors to look at the financials on this one and tell me that they aren't screaming out "UNDERVALUED"
I thought so anyways, and acted accordingly.
http://www.google.com/finance?q=NASDAQ:GAME&fstype=ii
GAME ~ I urge all serious investors to look at the financials on this one and tell me that they aren't screaming out "UNDERVALUED"
I thought so anyways, and acted accordingly.
http://www.google.com/finance?q=NASDAQ:GAME&fstype=ii
VPLM ~ ran up on big volume and ran down on low volume as company has been working to get stop sign removed from pinksheets. Holding a large position here and still confident it will break .03 in the near future. Unfortunately, the company made the mistake of promising updates within a certain timeline and failed to meet such timelines, as a result the stock has suffered as momentum traders have exited the stock IMO:
http://stockcharts.com/h-sc/ui?s=vplm
VPLM ~ ran up on big volume and ran down on low volume as company has been working to get stop sign removed from pinksheets. Holding a large position here and still confident it will break .03 in the near future. Unfortunately, the company made the mistake of promising updates within a certain timeline and failed to meet such timelines, as a result the stock has suffered as momentum traders have exited the stock IMO:
http://stockcharts.com/h-sc/ui?s=vplm
GLW ~ oversold and undervalued based on valuations at current levels, long term hold for me:
http://stockcharts.com/h-sc/ui?s=glw
GAME key break of 5 day sma @ 6.61 today should propel it back towards 7.00 IMO:
http://stockcharts.com/h-sc/ui?s=game
AXXE ~ hearing it could be the next pump to get dumped, buyer beware... chart agrees:
http://stockcharts.com/h-sc/ui?s=axxe