Political & Elections

"If I were to buy GLD, it would only be for the short run and I would probably sell covered calls. "

Why would you do this??

CNBC-a segment on breweries unable to get labels approved and registering for taxes. In Oregon, we have something like 200 brewers and each has a lineup of 3-5 brews, besides the seasonals.  Off to the local grocery for some sampling. 

If there is some resolution this weekend - gld is not a buy, if there isn't then it probably is.

sold in the morning. 

buy order placed last night after closing for am friday @ price that I exited. 

buy order was  placed on, day only, and ah markets hadn't closed so there was no order for Friday. Doesn't matter since initial pricing was way higher than my intended buy. Did buy at 46.72 . Crap, I really don't want to hold too much over the weekend. I'm just going to look at this company as a longterm hold/buy. 

I got out of SCTY yesterday. Then last night read some articles and placed a buy- limit order. Crap, I hate this market and should have stayed with my original premise of Not letting Congress affect my buy-sells. 

Isn't odd the Stupid Party believes that Government should not dictate to  Business and the Economy, yet it happens more frequently  when the Stupid Party has a fit compared to  the Democrats when they pout. 

Older bro, at TBTF bank, isn't getting much sleep. I think the midterm election fund raising is going to really awaken the Stupid Party.

6 WEEKS to change SS, Medicare, ACA. ???? If Congress gets going next week, A solution by Dec 1 ??? 

Wimps. all of them. PBO Should've hold out for 6 month for proper Congressional deliberations. The Stupid Party just plain Caved-in. 

I'm up, today, just 1.7% vs 2.2 on SP and Dow. 

Bummer right?  But on the other hand, I wouldn't count my chickens until they hatch.

What made you chose those particular strike prices?

And with LKND above 220, are you going to close out now or on expiration? 

I should ask the experts here if anybody knows the probability of a 4 successive down days or 5 for that matter.

dow is up at 12:20ET, I saw some great lows at ~10ET. I got to remind myself not to get greedy and not to take on political risk. 

A credit spread means I got a credit made to my account when I entered the transaction. In other words, I sold the 220 put and got $400 per contract. That's a credit to my account. I bought the 215 put for $200 (a debit to my account), thus I have a spread. Some people call it a net credit spread but that is actually redundant but some consider it a clearer description.

Those numbers are not exact but are close.

It is a bullish credit spread because I told the higher strike price of 220 and bought the lower strike price of 215.

I am back positive on the trade now. My break even is when the stock is at about 218.5. If at or above 220, I make the full amount. My fingers are crossed.

So I guess you're selling a  put spread?  Seems kind of dangerous in this environment.

apparently so is everybody else as can be seen with the vix.

I'm still waiting to pull the trigger on the market - perhaps on Monday I'll buy some stock.

PBO has warned the public and the markets.  Unfortunately, it has been viewed by a number of people as just the typical politicking.  You have some good comments about nest eggs.

Razor,

I think PBO should warn the public on the Congress's effect on the Markets. If people lost money in the Markets, it will eventually affect the notation of Capitalism.

I'm into cash because I don't like Congress interfering in the Markets either directly or our current situation- indirectly.

The second issue is that most people don't have a great deal of equities and what they do have they are now dependent on equities and bonds to fund their retirement (housing equity is gone, not to return for another 15-20 years) It is better to be in cash and not lose than be in equities and lose big at the time when you don't want it lost. I was a passive investor in 2008 and lost a bunch like everyone else.  I don't particularly  like to be a fairly aggressive investor, but I do so because I need to a certain level of financial security that I once had and I 

Thirdly, Recovering your nestegg is very difficult when most of the eggs are in MF that just dropped 10-20% in value. Are MF managers going to be more aggressive or passive after losing this amount with investors withdrawing funds forcing managers to sell stocks and no cash to hedge or buy on opportunities. 

Fourth: People with wealth, are going to get wealthier simply because in comparison the 90% remainder of USA, they don't have to invest. And if they do invest they can buy lower and sell higher than anyone else. 

fifth: PBO has said repeatly that he will not negotiate on ACA. He really can't because it is law and a funded entitlement. He can possibly negotiate on the discretionary budget because he is the CEO. PBO can't negotiate on SS, so how is he going to negotiate on ACA? 

Sixth: People with just a moderate amount of wealth has more to lose that those who have no wealth or have great wealth. 

What terrible things to say on cc - I myself have committed infractions.

Like what kinds of investments before the 17th?

Razorsharp:  Based on your discussions in cc, you were 23% in cash and investing in options in September.  What are you doing these days in the market?

Depending on what is meant by slightly - I'm slightly down because of one stock that is getting hammered with the shutdown and furloughs.

and I've been almost entirely fully invested save the last month. The problem with cash is that you only make money when the market crashes or at individual buying opportunities.