How 'bout that stock market?

[Ryanmcd2]

I assume that when you're not feeling well, you go to WebMD, and diagnose and treat yourself, you'd never go and pay a MD for his advice, take a prescription to a Pharmacy and have it filled, you probably mix up your own homeopathic remedy. When your car needs serious repair, you probably do that yourself too!! After all, why pay a professional when you can do it all yourself, better and cheaper!!! One of my favorite stories is a "trust fund baby" that I had some of his $$$, he convinced the "Trustees" that he could do a better job than them, so they gave him some of the $$$ to see what he could do. He really did well for awhile, wracked up huge capital gains (all short term), didn't put aside anything for taxes (was hundreds of thousands of dollars owed to the government), the next year he lost it all, yes he could write the losses off in future years against gains, but he had no $$$$$ to pay the taxes he owed, or to invest, so he fled the country. Real smart. Me, I don't go to medical clinics, I research and find the best doctors I can, and I pay them out of pocket if my insurance doesn't cover it (out of network), I'll pay an expert/professional his asking price and expect what I pay for. I'm not saying that there aren't people that can invest their $$$ properly, but the majority can't, so if they're smart, they do their research and get help. To quote a wise man who once told me: "Most people don't plan to fail, rather they fail to plan."

But think about this, you work so hard for your money but when it's time to put it to work you get lazy? It seem to me that working so hard for that money you would work HARDER to make it grow right? I just do not see that. The market is not that hard if you stick to long term stuff. I guess the same people that will never run a business will never learn to invest and let someone else do it. As far as Doc's go I do pay out of pocket and I was at a Dr on Thursday and I walked out after waiting 2 hours and got my money back, not being a ass but time is not something I am going to waste waiting on someone that can not plan. I have also seen people blow up, NSX guy Lenord Comany went from 60k to 8 mill then lost it all and is now in club fed.

 

[steveny]

But think about this, you work so hard for your money but when it's time to put it to work you get lazy? It seem to me that working so hard for that money you would work HARDER to make it grow right? I just do not see that. The market is not that hard if you stick to long term stuff. I guess the same people that will never run a business will never learn to invest and let someone else do it. As far as Doc's go I do pay out of pocket and I was at a Dr on Thursday and I walked out after waiting 2 hours and got my money back, not being a ass but time is not something I am going to waste waiting on someone that can not plan. I have also seen people blow up, NSX guy Lenord Comany went from 60k to 8 mill then lost it all and is now in club fed.

I make special arrangements with my Doctor so I don't have to wait. I can't believe how long some people have to sit in that waiting room to get in.

I think having someone manage your money is a great idea if you don't want the stress of doing it yourself.

Tell me more about Lenord. Was he a member here? What is he in the slammer for?

 

[steveny]

The cash printing machine is up and working again.:biggrin:

 

[Ryanmcd2]

I make special arrangements with my Doctor so I don't have to wait. I can't believe how long some people have to sit in that waiting room to get in.

I think having someone manage your money is a great idea if you don't want the stress of doing it yourself.

Tell me more about Lenord. Was he a member here? What is he in the slammer for?

I talked to him here in Atlanta I think it was NSXPO 1999. He was talking stocks and I was just getting into it. He was upto 1-2million at the time from 65k. He lived up in South Carolina about 145 miles from me so I asked him if he would care if I could drive up to his place a few days a week and watch him trade, he said sure. So I would drive up stay at a hotel room at night and watch him trade during the day. He was not bad just traded SUPER leveraged and turned that 1-2million into 8 million in about 2 more years. He did let me watch about 20 of his trading video's with Wade Cook and I forget who else. They video's I liked and did learn a good bit from. After that he started losing and went out of control, he was getting loans from friends, his church, everyone. It seems everyone would loan him money too because he did so well had a huge house and a NSX lol. Well after he blew up he started forgeing stock certs and selling fake shares of stocks. I don't understand that part 100% all I know is he was arrested at a airport and now in club fed. The one person who contacted me about it said if he gets out several people want him dead due to him taking there life savings. The Lenord Company was the name of the company.


p.s. my spelling sucks.

 

[Ryanmcd2]

I make special arrangements with my Doctor so I don't have to wait. I can't believe how long some people have to sit in that waiting room to get in.

I think having someone manage your money is a great idea if you don't want the stress of doing it yourself.

Tell me more about Lenord. Was he a member here? What is he in the slammer for?

The problem with this is it was my dentist, I went to someone new who was closer. I talked to my old dentist he said I would be in and out in 45min with all the teeth pulled. Just being lazy and now wasted 2 hours of my time and get to do it again.

 

[Ryanmcd2]

So who is holding through the fed

 

[steveny]

The problem with this is it was my dentist, I went to someone new who was closer. I talked to my old dentist he said I would be in and out in 45min with all the teeth pulled. Just being lazy and now wasted 2 hours of my time and get to do it again.

You had to have all your teeth pulled???

I went to the doctors the other day and she was running behind so I left and she called me later that night to let me know she will be back next week as she is going overseas. She said she could sneak me in early next week before the market opens. :biggrin: I am positive she is a genius.

 

[Ryanmcd2]

You had to have all your teeth pulled???

I went to the doctors the other day and she was running behind so I left and she called me later that night to let me know she will be back next week as she is going overseas. She said she could sneak me in early next week before the market opens. :biggrin: I am positive she is a genius.

lol no, just the wisdom teeth.

 

[Ryanmcd2]

Limit Sell AUD/USD @ .9550

Out with a small gain, going to wait on the fed.

 

[Ryanmcd2]

Rates the same, we are up about 90. Time to sell off into the close

 

[da3dalus]

Sim trading today due to the FOMC with a 20 car size... hehehehehehe.... now if only it wasn't a complete crap session and it actually wanted to move somewhere it would be just fine.

 

[Ryanmcd2]

I do want to add that the US$ is getting it's ass kicked.

 

[SilverStone05]

as are the financials.

 

[Ryanmcd2]

hmm, I will say I though the dow would sell of, but I did not think the US$ AND Oil would go down. Stuff does not move at the same time anymore.

 

[da3dalus]

The dow is selling off... just after hours... Its tanking pretty hard core for after closing bell action.

 

[Ryanmcd2]

I knew the dow would sell off, I dont play stocks though or I would of went short.

 

[SilverStone05]

Ugh, C downgraded by GS.

 

[steveny]

Ugh, C downgraded by GS.

well at least I didn't buy it at 40. LOL I am in at 19.22. where are you in at?

 

[SilverStone05]

basis is around 22 now. (shudder)

 

[SilverStone05]

GS has sure been on a high horse this year.

Goldman should enjoy it while it lasts, however, because the next time there's even a hint of anything amiss at GS everyone on Wall Street is going to gamely and mercilessly bash Goldman to pieces.

Agreed. If I hadn't made so much money on their last run up, i'd be ticked at them.

 

[steveny]

GM not this low since 1955. We have wiped away 53 years of gains.

 

[steveny]

Someone please come to my house and tie me up. I can not hold my self back much longer from buying AXP.

 

[Ryanmcd2]

We will have more selling, what we need is 1-2k loss of the dow to put in a bottom.

 

[SilverStone05]

Someone please come to my house and tie me up. I can not hold my self back much longer from buying AXP.

I would hold off on that, Mr. Steve. They are in trouble, I can feel it.

They recently sent me a solicitation for a platinum card. They said first years fee ($450 ) will be waived and offered me a $50 AXP branded gift card. Scraggling for business?

 

[steveny]

I am starting to have some concern about a new wave of lay offs at the blue collar level. I can't imagine that GM and F won't be laying off a bunch of workers very soon. Not to mention all the companies that suppy them with parts.