I will cut my losses on GS losing about $150 in reaction to GS “lower[ing] its U.S. GDP forecasts”. I like to cut my losses quickly if possible. If the economy is crapola than I need to not have financials in my port. Plus someone downgraded GS today too. In GM’s case I am now down 5% which is actually better than most people who own it. It is down 9% this week! My portfolio was up $400 at the open. Then it was down $40 went I went for a run. Now it is $800-$900 down.
On “Getting Rich Carefully”. I always like to hear Jim talk. I think he has a great vocabulary.
I have never owned GM before but bought 150 shares yesterday. Today Congress announces a probe into GM’s recall investigation. And it tanks 5% of value. At 2 different points today I bought 100 more shares each time so I now have 350 shares with a cost basis of 36.21, which means I am currently down 2.9%. Hopefully we will have a bounce tomorrow and people will come to their senses that they shouldn’t trade on news stories or emotion.
Buy order of 172.27 entered for 30 Goldman Sachs which is about 1% under the end of last session. Will go for my morning run and see if I own it later. It dipped below $172 in opening minutes of today’s session.
Yup order was just filled before I even left for jog.
Bought 150 GM at 37. 20 and it’s done .60 cents now. I usually establish a position at about $5000 and watch it rise or if the story is still good and the price is down I will add $3000-$8000 more.
Sold my 15 shares at a loss of about $350, my only loss for this year. It is totally stuck in a range and I bought 5 of those shares right at the top of that range after announcement of the China Mobile deal. It then immediately went down to 520-530 and is just stuck there and I’m guessing will stay there until Jobs is resurrected or Cookie replaced. Apple shareholders are DYING for SOMETHING, ANYTHING!!!!!!!!! I was thinking about it and Jobs only died like 2.5 years ago. Doesn’t it feel like 10 years? Yes because Apple had come up with NOTHING in 2.5 years of waiting. I love and use APPLE products (but not iphone) but this company’s growth is stagnant.
It should be the best and most innovative company on earth and under Jobs it may have been. And I don’t really enjoy the Cookie statement regarding how anyone who doesn’t believe in global warming should sell their shares (or something to that effect, but that is how people understood it). I don’t believe in it (climate change is as natural as the sun rising and setting – ever heard of the Ice Age?) but that is not why I sold it. But I don’t like it when these super politically correct CEO’s who really are often just the PR face of the company say oh yeah well if you don’t like our policy about this-or-that politically-charged issue just sell your shares (like a big baby). Yeah that would be just peachy if every APPL shareholder who doesn’t believe in global warming did that – you’d have the worst plummet for a large cap stock in the history of the market. Even if just 25% or 35% or 45% of the shareholders don’t believe in it. Of course they won’t sell so it is all rhetorical but that is why these CEO’s make these empty threats. It makes the media like them for being politically correct. A smart CEO knows how to articulate his words and say here is why this policy is beneficial to our company and shareholders (owners).
Exact quote for accuracy: “If you want me to do things only for [return on investment] reasons, you should get out of this stock,” Cook told a representative of the National Center for Public Policy Research.
I looked at this again since “Sir” Richard Branson just backed up Cookie and said climate change deniers should “get out of their way.” Sir, if you don’t want to be using up carbon I suggest you find another line of business than Virgin Atlantic (which is a nice airline, BTW) And I hope he always flies around the world on coach, but somehow I think the “Sirs” of the world think that is beneath them and stretch out in First Class, or more likely a private jet.
This morning my 500 GE shares were up over $100 and finally back in the green. 10 mins later it lost all of that and was suddenly down .80% and down over $100. I haven’t checked into why this might be. Will be holding GE until I see a nice 3-4% profit and then will sell, depending where the SP is. It was my only stock radically down 7-8% the last few months and so I am very glad to see it at par now. Good to hold anyway at 3.5% yield.
I have watched a lot of clips on YT of WOWS.I am still not impressed at all. I am so sorry to see Scorsese debase himself like this. DiCaprio too. The acting is over the top. Scorsese should make a serious Wall Street movie, instead he went with a boring boiler room scheme scenario with toilet humor and masturbation jokes. Aside from a couple little funnies from McMacahannay (sp) there was nothing funny at all in this movie. The genius of Good Fellas to this. All people are going to see it for is the spectacle of making and wasting money which the drug fiend and criminal protagonist narrated in the book. Imagine if Scorsese made a serious Good Fellas movie about the cultural world of real Wall Street insiders, like finance bankers or even a hedge fund. That would be interesting, although with the drivel Scorsese is making now I wonder if he can.
Woke up and noticed VALE was at 13.30 which is a good .20 cents below where I was planning to start a position. So picked up 500 shares. Went for a run and when I come back it is just bouncing a few pennies off 13.00. But all is OK. Actually earlier this week I had a buy order in at 13.75 so I still got it at a discount. I will have a running buy order set at 12.65 for another 5000 shares. If it makes it down there that is ok. If it doesn’t I will ride the 500 shares back up to 15 or 16.
Edit: Actually bought 500 at 13.23 which isn’t too bad at all.
I agree with the older actress who said Shame on Scorsese who directed some of my all-time favorites like Goodfellas and Casino. I have read several reviews by Travers and Roeper and watched all the trailers. Yes I have not seen the movie. I will watch it on DVD. It just sounds like a gratuitous mess of the highest order. Roeper said he was overwhemled at about 2/3rds of the way into it and only gave it a B+. A 100 million dollar Scorsese “epic” getting a B means it’s not that good. Some say they liked McCoughney’s portrayal of a broker but the clips I saw on several trailers looked dumb and just him making weird sounds. The jokes like “sides cure cancer” are not funny. I just think this is horrible because it looks like Scorsese has lost all subtlety. If he made a somber Wall Street movie it would be great. I don’t like his DiCaprio stuff. I despised Departed. I did like Kings of New York, but still it could have been toned down. This week I plan on seeing All is Lost with Redford.