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Joey Buttafueco Jr

Ftse Had Best Month In Six Years (axccording To News)

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I sold out a lot of my stocks last week, bit too soon it seems, but if i held them on friday i would have still sold them.

Fair enough. Just interested as the market tends to leap upwards when it seems people aren't expecting it. I recall that in 1974 the markets went up ~150% in a year when people had given up on equity investment.

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I got a load of share options and profit shares (as shares) from a ftse100 bluechip. I chose not to sell them which should somewhat ameliorate my move to cash on my pension about 2 months ago!

I have an option open til december which is above the current price (or l get my money back with interest) so thats a no brainer to sit out and wait n 'see. All other shares l will be selling mid sept at the very latest.

By the way, the ass will fall out of this market and l expect it by october this year and am planning accordingly. I am not bothered about being some sort of oracle guru, l regard the risk in the current market levels to be truly horrible and l dont see the return as being worth the risk in vanilla longs. A punt on a horse would be better risk Vs reward imho.

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I sold out a lot of my stocks last week, bit too soon it seems, but if i held them on friday i would have still sold them.

I sold virtually all mine sometime ago and now have 99% cash. I can't believe this market is going to last - I know all the talk about discounting the future etc - but, to me. it's parted company with reality. Folks are just treating this recession as if it's all over, done and dusted, and it's now time to get back to business as usual. I'm sorry I just don't believe it; I think it's got a lot further to run and the risks are horrendous. My only qualms about staying in cash are that we get a rise in inflation that might force a reconsideration of this because the value of cash could get eroded very quickly.

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Since October been drip feeding each month over spread of unit trusts. Doing very nicely. If market drops will buy up units at lower price. Looking at 3 - 5 year term

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I was buying when the market was going down from November to March, the problem was everything to me seemed a screaming bargain, it was hard to pick what to buy. I didnt buy much after the march lows because the shares I was watching all doubled/tripled very quickly. I actually bought KAZ for 175p (sold for 255p, its now over 800p). I sold out my CFM stocks this week at between 15.8-16.75p, some of those I bought at 2.19p a share. Trying to buy that back within the month so the tax man doesnt tax a large bite off me in capital gains.

I sold NWR in the last few weeks for 310p and 358p (started buying at 200p), but that stock could get back up to £20 a share in a few years if we get high inflation.

Rremember, the market is so fickle, it comes down quicker than it goes up. We could loose two weeks of gains in two days if we have a blow off phase.

I started to buy BA. 320p, DRX 408p, BBY 300p, CRND 16p, NVR 6p in the last two weeks, these are stocks that have been pushed down as of late. Id rather invest where I see value, than go with the herd. I hope the herd will see the stock after I buy in of course, as thats the only way these shares are going to rocket.

Currently holding

AI. 177p

UMC 209p

BLT 1250p

BP 440p

CFM 13.20p (bought and sold this LOADS, wild swings in both directions, good for swing trading).

and trying to buy the following if they drop to the following prices SKR at 14.5p, CFM below 13p, TMC below 32p, RDSB below 1400p, NWR below 310p.

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All my pension fund is now back in managed funds having been switched to cash last September.

I'm only holding emergency cash now. The rest is in equities and about a quarter of that was in the last week.

The bonus is that having taken all that cash out of the banks I've basically withdrawn funding for a few rivals in the housing market.

All i want is my 5%pa return.

Edited by Bring forth the guillotine

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Friday, August 1, 1930: Dow 233.99 +2.91 (1.3%)

Market Comment:

Henry Ford says present depression is "of minor moment in onward sweep of industry," also defends modern civilization against charge it cramps the individual. Thomas Edison says the depression is largely psychological.

Walker Brothers point out strong similarities of current business and market conditions with 1921. Market pattern of break last fall, followed by recovery and second break in spring, almost identical to 1921 in both timing and percentage. Other indicators including commodity prices, freight loadings, and dividend yields also similar. First indicator improving in 1921 was construction, two months before stocks hit lows [followed by 8-year bull market]. Therefore encouraging that construction turned up in June.

Conservative observers still advise remaining mostly on sidelines until market breaks out of range, taking profits on rallies, and waiting for reactions to buy.

US Steel earnings report seen as encouraging; able to earn almost full years dividend requirement of $7 in first half, whereas in past depressions was unable to cover dividends. Improvement due to greater diversification and operating efficiency. Management optimism is significant considering their usual caution.

http://newsfrom1930.blogspot.com/2009/08/f...399-291-13.html

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2.4% higher than the May/June highs. Marginally down on the year to date.

Who listens to the news?

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