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Made this so we stop cluttering up other threads. I think it could get political so made it here. If a mod thinks it should be in the B&G by all means move it.

You morons have to populate it though. I know nothing.

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Must read websites and tools that I use daily:

zero hedge | on a long enough timeline, the survival rate for everyone drops to zero

Max Keiser | Markets Finance Scandal.

silvergoldsilver

www.kingworldnews.com

Harvey Organ's weblog (I'll add the site later)

Yahoo finance when I just want some quick stock information...

SEC/Edgar when I want actual filings...

Barchart.com - Commodity, stock and forex; quotes, charts & analysis (for futures markets)

Kitco - Gold Precious Metals - Buy Gold Sell Gold, Silver, Platinum - Charts, Graphs, Prices, Quotes, Gold Stocks, Mining Stocks, bullion dealers (for precious metals)

I'll add more as I think of them.

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So POMO explains why we're green today. I shoulda known.

Sent from my Xoom using Tapatalk

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Must read websites and tools that I use daily:

zero hedge | on a long enough timeline, the survival rate for everyone drops to zero

Max Keiser | Markets Finance Scandal.

silvergoldsilver

www.kingworldnews.com

Harvey Organ's weblog (I'll add the site later)

Yahoo finance when I just want some quick stock information...

SEC/Edgar when I want actual filings...

Barchart.com - Commodity, stock and forex; quotes, charts & analysis (for futures markets)

Kitco - Gold Precious Metals - Buy Gold Sell Gold, Silver, Platinum - Charts, Graphs, Prices, Quotes, Gold Stocks, Mining Stocks, bullion dealers (for precious metals)

I'll add more as I think of them.

Glad to see someone else reads Silvergoldsilver.

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Glad to see someone else reads Silvergoldsilver.

He can be a bit low brow in his blog, and certainly his silver bears videos contain a lot of crude language, but the overall information and message is good I think.

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I'm on Kitco everyday checking out the articles and commentaries.

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Here we go... the inflation/wage spiral starting to heat up...

From a newsletter I receive daily:

The wage hikes have begun.

Calabasas, California-based temp agency On Assignment raised its bill rates 6.3% in the quarter ended March 31, 2011. SunTrust Robinson Humphrey analyst Tobey Summer says temp wages are the "canary in the coal mine" for more widespread wage increases.

San Diego-based AMN Healthcare Services, Boca Raton, Florida-based Cross Country Healthcare, and Menlo Park, California-based Robert Half International – all temp agencies – are all charging higher wages right now or are planning to do so in the coming months.

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Since we're sharing newsletter info.

Today from John Williams at Shadowstats:

Consider that housing starts and new home sales are down 75% from the 2005 peak and are at levels that statistically are indistinguishable from historic lows. Consider that existing home sales are down 29% from their 2005 peak; that 37% of the April 2011 sales volume was in foreclosure activity; where those buying often are doing so for cash and where mortgage availability is heavily restricted. Consider the broad economy, which is not recovering and seems to be stagnating at, or turning down anew from a relatively low level of activity. Consider the lack of consumer liquidity, with household income unable to keep up with rising inflation, and with debt expansion possibilities generally not available.

The Federal Reserve is a private corporation owned by commercial banks or banking interests. The Fed’s primary job is not to generate sustainable economic growth, nor to contain inflation, but rather to keep the banking system sound and healthy. Accordingly QE1 and QE2 likely were targeted primarily at addressing systemic solvency issues, with the Fed using the weak economy as cover.

As the systemic solvency crisis continues and/or intensifies, an overt or covert QE3 likely will be in place by third-quarter 2011, under the cover of a deteriorating economy.

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I like shadowstats, from what I have seen of their stuff.

I was going to post some similar housing data, but wanted to see what kind of footing the thread got first. Per RealtyTrac, 47% of Q1 existing home sales in California were home in some state of foreclosure. That's insanely high. And frankly, the shadow inventory (meaning the homes foreclosed/empty but not put on the market by the bank) is continuing to grow. RealtyTrac estimates it will take three years to work through the homes in some stage of foreclosure right now. Three years. And that assumes no new foreclosures within the next three years.

Still lots of blood to be let in residential real estate.

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As far as QE3 or other monetary easing goes...

My guess has been that we should expect it around Oct/Nov this year. I think it could come about earlier, depending upon how quickly the economy tanks, however.

But before Bernanke can begin talking up more QE or other easing, he needs three things: 1) Significant evidence of the economy has stalled or in decline -- this should be an awfully easy hurdle to clear as we already have this evidence; 2) It has to fit within the federal debt ceiling -- right now there is not enough capacity to monetize more debt, we will see when they negotiate the debt ceiling increase; and 3) Commodity prices have to be pounded into submission otherwise inflation will get out of hand too quickly -- and this can be done over the short term with margin shenanigans with commodity futures (just like they did to Silver earlier this month).

So it seems to me the earliest we can have any more Fed intervention (of significance) will be August, which is probably the earliest the budget will be resolved (and with it the debt ceiling increase).

In terms of overt versus subvert... Bernanke will eat a lot of crow after talking up the transparency path the Fed has taken, to then turn around and do this covertly. We will see.

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Well I took a small position in a couple of China stocks a while back, and the shorts have wacked the Hell out of both of them. I'm thinking I may as well go long on both at this point.

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Well I took a small position in a couple of China stocks a while back, and the shorts have wacked the Hell out of both of them. I'm thinking I may as well go long on both at this point.

What stocks? Were you long or short?

You have to be really careful with small & midsize Chinese stocks trading in the US on the NASDAQ. A good number of them are fraudulent reverse-mergers.

china stock fraud sec probes reverse merger network: Tech Ticker, Yahoo! Finance

I can't speak very intelligently about this, since I really haven't gotten involved with investment in China. But I know that there are certain hedge funds that are completely focusing on finding these fraudulent companies and shorting them into the ground. Many are making 200%+ do this, reportedly.

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Here is the Investment plan:

1. Establish a secure Gold and Silver Depository

2. Purchase Gold and Silver Bullion with your cash or other assets

3. Hold your Bullion in the Depository and purchase additional units with your income

4. Have a Bullion Card, similar to a Debit Card that draws directly from your Bullion Account

5. Enjoy the return on investment and access to your funds as needed

6. Pay a 1.8% annual fee for the Depository and Access Fee

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Cool, thanks for starting this Mr. D.(I'm going have to call you Mr. D because I can't spell - lol)

John Williams' Shadow Stats is gold, but you have to pay to see all of it, as many do. But I think he is well worth the read, even what is free.

I can't believe someone mentioned Max Keiser. He's like the nut on the loose, but I like him. He tells it like it is, which is even better. I think he has the background to be taken serious as well.

Anyone that has Netflix (what a stock - wow! ticker - NFLX) there is a movie called "Floored" which is now available on Netflix (or close) that is well worth the watch IMHO. I pre-ordered the movie months ago and have watched it several times. Love it.

It's about the floor traders at the CME in Chicago and their plight. The best part of the movie is the alternative ending where an X trader talks about the market. Priceless. I think he sums it up better than anyone I've ever heard.

To understand the market, and how it works, you must understand the people who inhabit and work in the place. I can't begin to explain it, but the guy in that movie does, and does it quite well. I think he's spot on.

While I'm spewing stuff, online you can find a book called "Reminiscences of a Stock Operator" which is about a guy named Jesse Livermore. He was a trader back before the 1929 crash. Made himself millions several times and ended up killing himself. But the book is like the bible for guys who trade the market. Great read.

Making money in the market is a journey in discipline, a mental war with yourself. In the Wall Street vernacular - it all boils down to two things - greed and fear.

If you think you can play in this casino and make a living, your in for a rude awakening. Some do, but most don't. That's just the way it is.

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I buy a stock. When it goes up, I sell it.

Actually I will tell you my investment sob stories, I assume everybody has some.

My first one is this: I started investing in 2007. I was out of grad school with a decent job, no debt, no car payments, and cheap rent. This means I meaningful amounts of cash for the first time in my life. The first stock I bought was Apple, the 3rd was Amazon. Unfortunately, I listened to (and believed) people who told me I didn't know what I was doing and sold both within a month at no gain in favor of ETFs. Amazon and Apple have of course quadrupled and quintupled since.

My second one is this: within a month of the absolute bottom of the financial collapse, I completely loaded up on banks. Like, 2/3 of all the money I had to my name. Unfortunately, I got way way way to nervous (these things were soooo volatile) and sold after average gains, instead of hanging on long term. Every single one I bought (sold all but 1) has gone up at least 3X-10X and I probably would have averaged a 500% return if I could have sweated through it that first month or even that first week. so it goes.

I don't really follow it too much anymore, I probably do research once a month or when earnings are about to hit. I do not enjoy it.

My current take on the market is a simple one: the **** hit the fan, yet a lot of companies are making a ton of money. The stocks I own are ones that passed through the recession well, yet are still reasonably priced compared to their earnings and growth potential.

Edited by Who is the Drizzle?

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So POMO explains why we're green today. I shoulda known.

Sent from my Xoom using Tapatalk

That's part of it, plus the HFT stuff. 60 minutes did a segment on HFT back in October. I remember watching it. Wasn't too bad but not enough tough questions IMHO.

Wall Street: The Speed Traders - 60 Minutes - CBS News

You can watch the video at that link. Interesting stuff.

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What stocks? Were you long or short?

You have to be really careful with small & midsize Chinese stocks trading in the US on the NASDAQ. A good number of them are fraudulent reverse-mergers.

china stock fraud sec probes reverse merger network: Tech Ticker, Yahoo! Finance

I can't speak very intelligently about this, since I really haven't gotten involved with investment in China. But I know that there are certain hedge funds that are completely focusing on finding these fraudulent companies and shorting them into the ground. Many are making 200%+ do this, reportedly.

There has been quite a few China stocks that have blew up. Many of them were just lying about earnings and growth. I used to play some China stocks but I'm kind of scared of them at the moment.

There have been articles from bloggers questioning the NYSE on why they didn't do more research on them, therefore allowing them to be traded to begin with. Some have been awful once the scams were exposed.

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Glad to see someone else reads Silvergoldsilver.

When looking and screening for stocks, as well a a bunch of other good information I like Finviz.com.

You can screen in many different ways. I like to look for technical patterns which this site allows you to do. It also has a lot of information on a stock (recent news, upgrades/downgrades, short interest, etc) all in a very well put together package.

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Speaking of Chinese stocks, this one sat atop IBD's list for a good long while and one I had considered at one point but never pulled the trigger. They were pretty much alone in the market with google pulling out but I think they have competition now:

z?s=BIDU&t=2y&q=l&l=on&z=l&p=s&a=v&p=s〈=en-US&region=US

BTW, I visit Finviz often....great site.

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I don't mess with any of this. I invest 8% a year into a T Rowe Price fund that has a targeted retirement year that I picked and I let them do the rest. I figure that's what they're paid for. When it reached it's low point in 2008/2009 I didn't care because that meant I was just buying more shares.

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I buy a stock. When it goes up, I sell it.

Actually I will tell you my investment sob stories, I assume everybody has some.

I have a bunch of them. Here's one quick one, recent.

I just sold CGAEX, an alternative energy mutual fund, at a loss. The guy we'd hired back in '05 recommended it. This was while the market was selling off, and I believed him when he said it would position me for a turnaround when the market came back.

When we filled out the paperwork (they did not trade online) on 10/27/08, the close was $6.36, and I swear to you this happened: while the paperwork was spending a few days wending itself through the system, the price went up every day. Finally, it closed on 11/4, and the price had gone up some +40% to $9.09. So that's the price I paid, along with a 5% front load.

So what happens? Immediately after that, the price pulled back some 35%, and by late November like two or three weeks later, it was back down to $5.80.

I **** you not. Here's the table with the proof. Check out the action from late October to November 4, then back to late November:

CGAEX Historical Prices | CALVERT GLOBAL ALTERNATIVE ENER Stock - Yahoo! Finance

The fund did enjoy a few days over $10 after that, but it then it slipped back into the sevens and eights and have been bubbling there ever since, all the while taking over 2% in fees from me. So not only am I losing value, but I am paying $80 to $100 a year for the privilege.

I finally sold it off a couple weeks ago, at about $8.30.

This is just one of the dogshit funds I let the guy talk me into. American Funds has a lot of them, and he put me in just about all of them. The kind in which when everybody lost 50% on their value in 2008-09, I lost 60%; and when everybody recovered almost 100% of their value since March 2009, I recovered 30% or 40%.

Meanwhile, when I had a bit of cash in mid to late 2009 and it was clear the market was starting to recover, I researched and bought funds on my own, through Schwab. Result is, I'm up 50% to 100% in them, while American and Waddell & Reed are lagging behind.

This is why I've decided to take active control of my money, instead of trusting some fund manager or 401(k).

Edited by chasfh

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Speaking of Chinese stocks, this one sat atop IBD's list for a good long while and one I had considered at one point but never pulled the trigger. They were pretty much alone in the market with google pulling out but I think they have competition now:

z?s=BIDU&t=2y&q=l&l=on&z=l&p=s&a=v&p=s〈=en-US&region=US

BTW, I visit Finviz often....great site.

I've followed this stock for years. Great stock. It's the Google of China.

The bad news is, I've owned it. Bought it at 159 just after the crash a couple of years ago. The chart you posted is after a 10-1 split. Without the split the price today would be about 1300 bucks. I sold it at around 200 and thought it was a good trade. That's the difference between trading and investing. Two entirely different animals.

There are others that have given returns like this, not quite as good maybe, but still pretty good. These are the stocks you want to own. Not what many pension and retirement accounts load up with.

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I have a bunch of them. Here's one quick one, recent.

I just sold CGAEX, an alternative energy mutual fund, at a loss. The guy we'd hired back in '05 recommended it. This was while the market was selling off, and I believed him when he said it would position me for a turnaround when the market came back.

When we filled out the paperwork (they did not trade online) on 10/27/08, the close was $6.36, and I swear to you this happened: while the paperwork was spending a few days wending itself through the system, the price went up every day. Finally, it closed on 11/4, and the price had gone up some +40% to $9.09. So that's the price I paid, along with a 5% front load.

So what happens? Immediately after that, the price pulled back some 35%, and by late November like two or three weeks later, it was back down to $5.80.

I **** you not. Here's the table with the proof. Check out the action from late October to November 4, then back to late November:

CGAEX Historical Prices | CALVERT GLOBAL ALTERNATIVE ENER Stock - Yahoo! Finance

The fund did enjoy a few days over $10 after that, but it then it slipped back into the sevens and eights and have been bubbling there ever since, all the while taking over 2% in fees from me. So not only am I losing value, but I am paying $80 to $100 a year for the privilege.

I finally sold it off a couple weeks ago, at about $8.30.

This is just one of the dogshit funds I let the guy talk me into. American Funds has a lot of them, and he put me in just about all of them. The kind in which when everybody lost 50% on their value in 2008-09, I lost 60%; and when everybody recovered almost 100% of their value since March 2009, I recovered 30% or 40%.

Meanwhile, when I had a bit of cash in mid to late 2009 and it was clear the market was starting to recover, I researched and bought funds on my own, through Schwab. Result is, I'm up 50% to 100% in them, while American and Waddell & Reed are lagging behind.

This is why I've decided to take active control of my money, instead of trusting some fund manager or 401(k).

Good story, and you are not alone. Many have been though the same thing.

I'm probably in the minority (I'm used to that) but there is no way in hell I would let some so-called financial manager manage my money. The deals usually suck to begin with, they charge too much in fees (rather they make you any money or not) and your locked in, or limited to what you can do. It's your money after all.

I'll use my significant other for an example. She got an employer match of maybe 2 or 3 percent match, which is good. I consider that free money, so you almost have to take it. No problem so far.

Their financial people were from out of town and one that I have never heard of. Not like a Vanguard, Oppenheimer or well known place like that. Her money, and the match, were sent to these people monthly and they invested it in mutual funds.

I looked at the statements each and every month to see how it performed and what the funds holdings were. They had her in 17 mutual funds, most of which didn't even return what the S&P 500 index did, and payed little to no dividend. Many were losing money. Awful.

When the market was turning over a couple of years ago, I told her to sell and get out. They would not allow her to do so. She had the take the hit and lost over 50 percent of her lifelong earnings. While they charged her over a hundred bucks a month to do so, I might add. There are many plans out there like this.

Last year the people that ran the fund came to their office to recruit and answer questions. I gave her a page full of questions to ask this rip off artist. She started asking them, he got mad, and walked out. Good damn thing I wasn't there.

By good fortune, she changed jobs a few months ago which allowed us to roll her 401k into another account where she has complete control over what happens. She is now making money and the fee's are next to nothing.

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