Gtn- I think Oil is ok-but you gotta remember that in a panic-should we get one everything gets sold. I am assuming you are not down on omni so if that is the case hang a real tight stop on it that will get you out in one piece. I constantly preach the value of "stops" but very few listen my maximum risk (unless I am playing with the house's money) is 3 points which means I get a paper cut instead of my head handed to me on a plate.
By three points, do you mean 3%? If you have any, how do you treat your longer term holdings stop wise? Do you keep the same tight stops or do you leave additional room?
Interesting about the one term presidency and the market being down in April. The market is going down and shrub should lose, both for the same reason. Wall Street is losing confidence. I don't think it's that they don't trust Kerry. The Street did damn well under the last Dem. What they don't trust is the direction the current admin has been going.
Not that any of that matters. It is just time for the whole thing to come apart. Bush is a part of that, both effect and cause.
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I like Kerry. He is cautious and indecisive. Just what we need. Much better than an aggressive, impulsive, vindictive, abusive alcoholic.
Stain and Doc have it just about right.
I'm quite sure that both canadates are equally capable and willing to destroy the value of the dollar and run up enormous budget and trade deficits. The Democrats are also capable of messing up the mid-east and international affairs, just that Kerry will do it a slower than GWB - as he is more worried about ketchup than oil.
Thanks for the crash alert. We are getting closer to that possibility, maybe a couple more days on the downside are needed to get it going.
Lesser Evils By MICHAEL IGNATIEFF
Published: May 2, 2004
The Fire Next Time
It has taken nearly three years, but the 9/11 commission and the Supreme Court hearings on enemy combatants have given us our first serious public discussion about how to balance civil liberties and national security in a war on terror. Even so, we have not begun to ask the really hard questions. The hardest one is, Could we actually lose the war on terror?
Porter-I am primarily a Spoo player and that is where I risk only 3 points. As to long term stuff- GG, AEM, PDG VGZ, HUGO, Encana, Suncor they don't get sold but they were bought long ago and they are core holdings.
Porter if you are buying puts on a stock and lets say you pay 4 bucks my stop would be 5 bucks and if I got the move to say $3.00 my stop would immediately be 4 bucks breakeven. You have to develop an expertise-Depends for example is a master at shorting turds, so is Plunger, Guys like Dark Docky, TE and I and Hi-hat and Stain stick to Spoo's, Zen and Sleddy like Q's, LLD likes Rut whatever you choose know it like the back of your hand, know where it was yesterday, hourly know the intra day highs and lows and note the times and average the times and soon you will see a pattern!
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...