Some of you may recall my previous posts where I said that my broker said there would be a 3rd bottom in July 2009. Is this the 3rd bottom? (1st bottom in Novemer 2008, 2nd bottom in March 2009).
TSX 3rd Bottom
- Thread starter Rockslinger
- Start date
I think this latest bear market rally is running out of legs.
It is a trader's market and I don't think this bear market is even remotely close to being over.
If someone is claiming that this so-called 3rd bottom in July will be THE bottom and the end of the bear market, I highly doubt it.
It is a trader's market and I don't think this bear market is even remotely close to being over.
If someone is claiming that this so-called 3rd bottom in July will be THE bottom and the end of the bear market, I highly doubt it.
talk to 10 brokers and they will tell you 10 different things about the market. None of them have a clue.
So true. If they really knew what was going to happen they wouldn't be talking to you, they'd be on their private island sipping pina coladas served by girls wearing nothing but sunscreen and coconuts.Radio_Shack said:
.sure looks like a 3rd bottom... but, it also looks like the typical 'sell in may' routine because of the time of year... or perhaps maybe a head & shoulder pattern
I'm getting mostly outta cash... inflation is right around the corner. quickly buying up underappreciated private assets in the lumber/forestry industry right now. Pretty risky stuff, but I just bought 18,000 acres of forestry land up near Chapleau, Ontario. included was 3 vacated gold mines... if not for anything, it's worth a few good weekends of 4wheelin and I'll be able to provide Christmas trees to my monkey's uncle for the next 200 lifetimes... If I blow all of my money, I'll chop firewood for next year's campfire season and maybe stock pile some dried firewood for 2010/11 winter season... incredible how cheap forestry assets are right now. bought a sawmill near Algoma Mills last month for $16,000. It had over $500k in equipment in it, was on 25 acres as a recently shut down going concern!! Today, I was at the Bel-Air lumbermill auction preview in Bolton. Sale starts tomorrow morning. Alot of nice new looking equipment. I know some terbites are always looking for bobcats and other skid-steers... they have a few with less than 1000 hours...
don't own many stocks- downsized before end of June. still have consumers waterheater income fund though. 20% annual yield on dividend payouts. Banco de Chile ADS, I still own as well as Norsat, Liquidation World, Franklin Covey, Magic Software, etc... a bit global small cap exposure...Sold HX on Friday, still waiting on CNOOC sell order to be filled.
I'm getting mostly outta cash... inflation is right around the corner. quickly buying up underappreciated private assets in the lumber/forestry industry right now. Pretty risky stuff, but I just bought 18,000 acres of forestry land up near Chapleau, Ontario. included was 3 vacated gold mines... if not for anything, it's worth a few good weekends of 4wheelin and I'll be able to provide Christmas trees to my monkey's uncle for the next 200 lifetimes... If I blow all of my money, I'll chop firewood for next year's campfire season and maybe stock pile some dried firewood for 2010/11 winter season... incredible how cheap forestry assets are right now. bought a sawmill near Algoma Mills last month for $16,000. It had over $500k in equipment in it, was on 25 acres as a recently shut down going concern!! Today, I was at the Bel-Air lumbermill auction preview in Bolton. Sale starts tomorrow morning. Alot of nice new looking equipment. I know some terbites are always looking for bobcats and other skid-steers... they have a few with less than 1000 hours...
don't own many stocks- downsized before end of June. still have consumers waterheater income fund though. 20% annual yield on dividend payouts. Banco de Chile ADS, I still own as well as Norsat, Liquidation World, Franklin Covey, Magic Software, etc... a bit global small cap exposure...Sold HX on Friday, still waiting on CNOOC sell order to be filled.
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I'm all cash, 6-figure portfolio. A little miffed about the down move these last couple of days as I thought HXD.TO would have filled the gap first before moving higher (had my buy order right at the gap-fill point).
http://stockcharts.com/charts/gallery.html?hxd.to
http://stockcharts.com/charts/gallery.html?hxd.to
If you have cash, I'd be buying real estate. The market is starting to come back a bit, and they are not making more land. There's some bargains out there.
Keeping cash when the markets are bear is foolish. Smart investors buy during downturns, and revert to cash/guaranteed investments during bull markets.
Keeping cash when the markets are bear is foolish. Smart investors buy during downturns, and revert to cash/guaranteed investments during bull markets.
Radio_Shack said:
Aint this the truth....... I watch Kevin O'leary alot, I find him to be the most knowledgable, realistic, and entertaining, he keeps preaching the importance of earnings and owning dividend stocks.
Does anyone else watch any shipping stocks.
Yup, imo it looks like a classic H&S, I'll make another bid for some HXD.TO if it bounces.Ivan said:
moresex4me said:
Garth Turner was interviewed by CBC earlier this evening. He said that real estate prices are being held artificially high because interest rates are being kept artifically low so people are borrowing to buy real estate. When rates move up, the cost of carrying real estate will rise.
It's a double short fund on the TSX 60. When the TSX falls, it goes up x2.AJstar said:
There is also a double bull fund on the TSX 60 called HXU.TO
Another double short/bull fund I like to watch is double short oil (HOD.TO) and double bull oil (HOU.TO).
