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 Would it be insane to buy loads of stock on Monday ?

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PostSubject: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 2:54 am

Assuming I can stay in for a long term, I can't see any problem with doing so.

My pension is in the same boat anyway.

Eventually (say 1 year) the stuttering will stop and the gradual rise will restore ? I think it will. I think the ISEQ is now bobbing about on the bottom.

The only thing keeping it there now is the daily news from the US about bad debts and bank troubles.

The US taxpayer will take about a year to soak that up and then the whole shebang will be business as usual.

Our domestic situation will start to turn over too, house prices will have relented on their megalomania, the media will have moved on and we might be down a bank or two.

We might even have a different government.

So I think it's a good bet to go long now with a big bunch of lolly.

What say ye ?
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 3:58 am

Don't be daft. Is it not bad enough that your pension is on the titanic. Watch the movie. How many were swimming towards the ship.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 4:11 am

youngdan wrote:
Don't be daft. Is it not bad enough that your pension is on the titanic. Watch the movie. How many were swimming towards the ship.

Yes Dan, but I'm thinking about the next ship. This one is sunk, no doubt.

Do you still think the Iseq has further to go ? I think it has bottomed. More or less.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 4:18 am

EvotingMachine0197 wrote:
youngdan wrote:
Don't be daft. Is it not bad enough that your pension is on the titanic. Watch the movie. How many were swimming towards the ship.

Yes Dan, but I'm thinking about the next ship. This one is sunk, no doubt.

Do you still think the Iseq has further to go ? I think it has bottomed. More or less.

youngdan has been pretty reliable on this so far. If I were you I would put it on a good horse instead.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 4:29 am

cactus flower wrote:
EvotingMachine0197 wrote:
youngdan wrote:
Don't be daft. Is it not bad enough that your pension is on the titanic. Watch the movie. How many were swimming towards the ship.

Yes Dan, but I'm thinking about the next ship. This one is sunk, no doubt.

Do you still think the Iseq has further to go ? I think it has bottomed. More or less.

youngdan has been pretty reliable on this so far. If I were you I would put it on a good horse instead.

Well in fairness, Dan has a formidable grasp on global economics, but rejects the moon landing. Go figure.

In the end I always use my own counsel, regardless.

That would not include a 'good horse' Cactus.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 8:14 am

Are you thinking of bank stock? It's tempting no doubt and you want to try to pre-empt saying (in five years time) "why didn't I buy such and such - BOI or AIB".

If you can't stop yourself from doing anything then do it small and keep your eye on it. BOI had 18 euro highs and now is 5 - that sounds like a good bargain but what if it isn't? Keep your eye on it - the whole thing could be going down a Black Hole.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 5:32 pm

EvotingMachine0197 wrote:
cactus flower wrote:
EvotingMachine0197 wrote:
youngdan wrote:
Don't be daft. Is it not bad enough that your pension is on the titanic. Watch the movie. How many were swimming towards the ship.

Yes Dan, but I'm thinking about the next ship. This one is sunk, no doubt.

Do you still think the Iseq has further to go ? I think it has bottomed. More or less.

youngdan has been pretty reliable on this so far. If I were you I would put it on a good horse instead.

Well in fairness, Dan has a formidable grasp on global economics, but rejects the moon landing. Go figure.

In the end I always use my own counsel, regardless.

That would not include a 'good horse' Cactus.
Embarassed
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 6:16 pm

EVM - if you haven't listened to it, the top Market Ticker video on the portal talks about the current rally and what it means. I don't know if he is right, but he is worth the two minutes.

Things are still enormously unstable, and the fundamentals look fundamentally bad.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sat Sep 20, 2008 7:14 pm

Would you be insane? Well that would depend entirely on what stock you buy. I assume you mean banks, in which case I'd say yes.

You have the oppertunity of buying a little here and there and selling/buying on the day to day rise and fall. But it's hardly worth it.

I don't agree with your idea that things will start to sort themselves out within a year. I'm thinking 8-10 before things are looking pretty again.

But yeah, go for it, but as they say, only bet what you can afford to lose.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sun Sep 21, 2008 1:27 am

Do your homework, spread your risk, and ask what companies are likely to do well in a recession and which have sound assets. The greatest problem is not that the shares fall further, and may eventually rise. The problem is having a pile in a company that goes under. Things can happen very quickly so in this sort of climate keep an eye on it. Get out fast if you think it is turning sour.

For myself I am in no hurry to take a long position. Why rush in? A safe 10% is better than a very risky 20%. There is going to be a concerted effort to rally the markets and it may work, but many may decide that the underlying problem remains.

No matter what anyone says the markets are often unpredictable.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Sun Sep 21, 2008 2:56 am

Sure why not? It's only money. We have lots of it but only one corporeal lfe. Let's have fun with it.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Mon Sep 22, 2008 2:52 pm

ummm....I don't think we've quite bottomed out yet. I'd at least wait until after the emergency budget.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Mon Sep 22, 2008 6:37 pm

EVM

Hope you are still thinking rather than doing.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 12:15 am

Who knows what is coming. I know one thing though there is a lot of misery involved.

http://www.kcet.org/socal/2008/09/foreclosure-alley.html

He said 700 families a day(or was it a week) are getting the boot. I have always said thar Ireland is following the path here but about 6 months later so will things get this bad. Now I see the IMF are getting their claws stuck in a lot of countries. On this issue I would agree with the left wing posters.

The other day I watched Baldwin and Nader debate.

http://www.youtube.com/watch?v=dmZpSCMBy4k

Well worth watching. The other posters would describe them as extreme left and extreme right. I would describe them as real people and would rather either or indeed a combination of both
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 1:39 am

youngdan wrote:
http://www.kcet.org/socal/2008/09/foreclosure-alley.html

Nice places, nice scenery, why's everyone leaving town ?

700 families a day she said there. One lad who paid 399 for his house said a neighbouring house was going for 180 - he must be seriously pissed off paying through is beard each month for something worth half the value.

On Prime Time tonight they said there had been 108 repossessions(?) so far this year or was it 480 ?
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 3:04 am

Auditor #9 wrote:
youngdan wrote:
http://www.kcet.org/socal/2008/09/foreclosure-alley.html

Nice places, nice scenery, why's everyone leaving town ?

700 families a day she said there. One lad who paid 399 for his house said a neighbouring house was going for 180 - he must be seriously pissed off paying through is beard each month for something worth half the value.

On Prime Time tonight they said there had been 108 repossessions(?) so far this year or was it 480 ?

480 sounds more realistic.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 4:37 am

It was like a horror movie with those people just vanishing. What about the stuff they left behind like the big screen TV. An explanation I heard someplace for this is to show that in a bankruptsy proceeding later they could claim that they took nothing from the house. Sounds strange but as every house had valuables left it must be true. Sounds like a good job to have though.

BTW. I expect a Christmas card from EVM's wife for getting the wallet locked shut
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 11:35 am

youngdan wrote:
Who knows what is coming. I know one thing though there is a lot of misery involved.

http://www.kcet.org/socal/2008/09/foreclosure-alley.html

He said 700 families a day(or was it a week) are getting the boot. I have always said thar Ireland is following the path here but about 6 months later so will things get this bad. Now I see the IMF are getting their claws stuck in a lot of countries. On this issue I would agree with the left wing posters.

The other day I watched Baldwin and Nader debate.

http://www.youtube.com/watch?v=dmZpSCMBy4k

Well worth watching. The other posters would describe them as extreme left and extreme right. I would describe them as real people and would rather either or indeed a combination of both

This terrrible waste and destruction shouldn't be accepted. Going back to the housing crisis of the 1960s people used to take over and squat in empty houses. The same with factories that were being closed down. Why should people let their viable industries be shut down because of a pile of toxic paper printed by thieving bankers?
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 12:34 pm

Nothing wrong with squatting provided you don't get caught. Stay long enough and hold in the correct manner and the place is yours.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:23 pm

The guy is not yet qualified and he is already telling us how to pull a fast one. How can this young man not be looking at a successfull career.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:33 pm

Squat the lot

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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:38 pm

I'm in favour of occupation of empty and unused property. If left empty it deteriorates and becomes derelict very quickly.

The HSE spent millions last year "rehabilitating" sheltered units that had been built 5 years earlier and never occupied.

It is horrific to see the amount of destruction of value wrapped up in houses in the US.

The derelict sites Act allows easy CPO of abandoned property by local authorities but I think excludes habitable homes. That's a law that should be changed.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:50 pm

Definition of derelict site

Quote :
Definition of derelict site.

3.—In this section "derelict site" means any land (in this section referred to as "the land in question") which detracts, or is likely to detract, to a material degree from the amenity, character or appearance of land in the neighbourhood of the land in question because of—
[GA]

( a ) the existence on the land in question of structures which are in a ruinous, derelict or dangerous condition, or
[GA]

( b ) the neglected, unsightly or objectionable condition of the land or any structures on the land in question, or
[GA]

( c ) the presence, deposit or collection on the land in question of any litter, rubbish, debris or waste, except where the presence, deposit or collection of such litter, rubbish, debris or waste results from the exercise of a right conferred statute or by common law.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:55 pm

It might be a good idea to figure out why a house is left derelict.
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PostSubject: Re: Would it be insane to buy loads of stock on Monday ?   Wed Oct 29, 2008 2:57 pm

I think there are a multitude of reasons why a house is left derelict.
The land is worth more than the house.
The house is listed and it is too expensive to do anything with it.
There is a dispute over ownership.
Etc etc
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