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madcowmonkey (< 20)

Did CAPS finally ban Underperform picks?

Recs

6

November 06, 2008 – Comments (9) | RELATED TICKERS: WIN , D , MIL

I started placing underperforms this morning, still have yet to see them post. I know these things happen with caps, so I don't mind too much but I should go ahead and write something decent.

Is one of the Obama policies that senior citizens making less than $50,000 will not be taxed on their income? If so, I will be 1099'ing my grandparents next year:)

The reason I am going to underperforms, is because we will be seeing a max exodus from the market from way too many investors that are watching the Obama policy scare the living crack out of them. I know, because I am listening to it daily with some of the friends bd's. They are all saying the same thing.

Deej says to pull up the skirt, but we are sitting here talking about investors that, if they have not left the market already, then they have big losses already.......to the point. Why are they leaving the market if they have such huge losses over the past couple of months. There will be no profit, therefore there will be no tax money to hand out:)    Ooooops! Should have thought of that one before voting him into the office for the Windmill affect. There is no need for a Windmill if there is no wind!

9 Comments – Post Your Own

#1) On November 06, 2008 at 7:17 PM, TMFCrocoStimpy (93.06) wrote:

mcm-

Many tickers that are otc or ADRs don't have their prices updated except at end of the day, in which case CAPS won't move them out of the pending queue until they get the next price update info.  I can't see what your pending picks are, but this could be the cause.  To my knowledge no restrictions on underperformance calls exists.

 -Stimpy

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#2) On November 06, 2008 at 7:21 PM, UltraContrarian (99.84) wrote:

As far as I can tell all trades on CAPS went very slowly today, both new and ending picks.

Blaming the last two days on Obama doesn't make much sense. Trading markets on Intrade & polling sites had him at 90%+ to win the election so the overall market should have had those odds priced in.  The democratic wins in the House and Senate weren't any bigger than anticipated.  And it's not like the market wasn't regularly shedding 5% a day the past few weeks.  As Jim Cramer sometimes says, there are a million reasons to sell.

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#3) On November 06, 2008 at 8:01 PM, madcowmonkey (< 20) wrote:

Stimpy- yeah I am aware of the ADR's. Thanks. Example of three that didn't go thru that were picked before the market opened.....DDR -18.61%, TLB -11.14%, and LVS -32.68%. All 11 stocks were swindled from either Tastylunch or NewsMonkey. Thanks for the post.

 UContrarian- I wouldn't blame the last two days on Obama, maybe some of his policies, but not Obama. I will be blaming the next couple of months though:) I guess Cramer can make that a million plus 1 now. I had about 27 calls from friends that work on Wall Street that have voiced this opinion, so I guess I will take it from there view. I guess if you are truly contrarian, you should be green thumbing stocks for the long haul like crazy right now:)

 

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#4) On November 07, 2008 at 12:01 AM, Tastylunch (99.64) wrote:

Hey Madcow

Wall Streeters and retail investors always seem to do this when a Dem wins. Wall streeters blindly think lower taxes is better, that's not always true unfortunately. Personally I don't think a slightly higher cap gains and dividend tax is the end of the world. All he is claiming to do is to rolI it back to Clinton era levels.We certainly lived with it ok then. Now whether that's what he actually does remains to be seen.

I do fully expect Wall Street to think this is horrible temporarily, probably a minor sell off in mid december. It's not going to be fun but the deficit badly needs to be cut and I don't think either candidate really had a viable plan to cut spending.That leaves higher taxes as about the only option.We are going to have to pay for these bailouts somehow :-( Still historically markets do better under dems, just usually not right away.

I agree with Ibleedconcrete/ultracontrarian, I don't think the selloff in the last two daysis Obama's fault or his policies. I think it's  a typical buy the rumor sell the news, we had a nice runup going into the election in solar etc.

that stinks about your picks not going through man!  Glitches do seem to happen sometime. You should talk to TMFjake, he'll probably fix it for you. Or use the feedback button. Get your points man!

 

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#5) On November 07, 2008 at 12:53 AM, TheGarcipian (99.27) wrote:

Tasty, that's exactly what this is: buy on the rumor, sell on the news. Plus a little more... because we are not through with the pain. By my calculations of traditional P/Es and past recessions (depths and widths therein), we have at least 12 more months of pain before any solid floor can be established. If we're very lucky, that might mean we'll simply pluck along sideways, but I really don't think that's going to happen. More likely (again, by my calculations, some of which I've blogged about here and here and here), we'll likely see the DJIA at 7200-7500 sometime over the next 6-12 months. And that was regardless of who won the Presidency.

The fact that the markets ran up in the week before the election was a GIFT. MadCow, if you had any positions you'd wanted to sell, you should take advantages of these upticks, because I firmly believe they are only temporary, that is until we've hit the 7500 or so mark and/or traveled sideways for 12 months, whichever comes first. But man, oh man, my appetite is going crazy right now for oil & energy plays. Some stocks (like MDR and DO) are so incredibly cheap! But I think they'll get a little cheaper. Mostly, I'm in a holding pattern until I see the DJIA at around 7500.

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#6) On November 07, 2008 at 2:13 AM, Tastylunch (99.64) wrote:

TheGarcipian

yeah that's the tricky thing, I've got zero long term holdings right now in rl (well I have two but neither one for is for treu investment purposes). Frankly it's boring not to have stocks. If I didn't short stocks and play CAPS I'd be losing my mind :-(  Even when I don't make trades for months I love charting my holdings performance. Hard to stay disicplined.

If DJIA 7200 is the true bottom I think we'll be lucky the way things are shaping up so far. Still I guess I'm contrarian but I think we stay in this deadcat rebound for the next month or so into December. After all even in 1929 the market didn't go straight down....

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#7) On November 07, 2008 at 8:49 AM, madcowmonkey (< 20) wrote:

point smoints:)

I really don't like to follow the street and I have voiced my opinion about getting out back in May, when I closed out all but a few of my holdings....I was still rooting for ACH until I could see the writing on the wall. Maybe i am a little confused right now, because I had county road taxes hit and also the township hit, then you throw in the increases in 2009, and finish it off with the market tanking for the last couple of months. I don't think we are threw this mess and I am still sticking to my guns about Obama having to come out and change his capital gains tax, before the market sees an upday. Everybody has their own opinion. One little funny side note is the fact that they are increasing the tax on gains? The majority of people are losing like crazy right now. Also, all these people that voted for this thinking there 401K is not going to get hit.....again, I just wimper.

 

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#8) On November 07, 2008 at 8:54 PM, Tastylunch (99.64) wrote:

madcowmonkey

haha true, CAPS points are irredeemeable in real life . :-) How sweet would that be if you could use CAPS points towards things like airline tickets or jetskis? :-)

Trust me man I dont follow the street says to do either, but I like to have an idea of how they think about things if for not other reason than for me to go the other way. :-) That way I don't get punked by some wall street scam, cuz you know they are always trying to play us retail investors. I'm in the smae boat as you know I really don't have a firm grasp on where we areheading, kinda uncharted. What I posted

Yeha that was a really really good call on your part back in May man. What tipped you off  that you should bail? just curious.

Yeah it's  catch 22 for the government, their receipts are fallling dramatically on every level city,county.state, fed, but if they raise taxes it may kill what's left of the economy.

I'm not sure why people would complain about a capital gains tax raise when they are all sitting on losses . :-) Ah well still you are right most of the people have no clue how much taxes are going to go up. I wish I could say I have a bettter solution but I don't...Nice call on Obama scaling it down though. Wish he had  done that for the dividend tax instead. Caps gain affects short time traders more, while dividend tax hurts the long term investors more....

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#9) On November 10, 2008 at 7:01 PM, binv271828 (< 20) wrote:

"point smoints:)"

Here here brotha! Who says we need to keep track of points.
.... by the way, please sign this petition to reset binv's score back to 0 ... :)

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