EEEWWWW... anyone else watch the stock market lately?

[Sassy]

Up, down, up, down... WAY down, down more.... OMG! I don't think my stomach can handle much more. I'm just going to close my eyes and plug my ears for awhile. **broken link removed**

 

[brainmuscle]

Something tells me that inside you there is a powerfull brain that has invested well and does not need to struggle handling the market situation.

 

[Sassy]

Yea, you right I've been investing for years and I should know better... but it's still like a train wreck... you can't help but look, and then you wish you didn't!

 

[brainmuscle]

It's actually a good time to invest more, I did.

 

[Sassy]

Oh, I know!!! I'm trying to sell my house. I was going to take some of the money from it and invest. This would be a great time to do it. Pissing me off that I'm missing out

 

[brainmuscle]

Hey Sassy,

... so how it has been? did you sell the house?

... lately the market has been a good ride!

 

[NINJA]

Market

I don't think this the best time to invest at all..you buy Low and sell high.
Since the great depression in the 1930's the market had gone up an average of 12% when I was in 7th grade it hit 3,000.

it goes up down up down

a
a a
a a a
Start a a
Draw arrow through that and you see it always rebounds and contiunes to grow.
I was 12% from the depression untill 1990 when it was at 3k
Doing the math since then I think it is about 9.5%
But 9-11 and the war is a big part
Does anyone have an clue how much bin laden made from 9-11
All he would have to do is give a few hundred investors 1 million each as he knew when the attack was so...You LOAD up buying securuty stocks like comapnies that supply the gov with weapons armour etc..
AND you Sell short ALL the airline Stocks..that is an inside tip woth billions!

 

[Sassy]

No, my house hasn't sold yet, and neither has EVERLAST's. Our new place will be finished soon, and I was hoping to have them both sold by now.

Ninja... it's better than leaving money in a money market paying 1% or less. I've got some in Wachovia right now and it sucks! I'm planning on moving it to something else soon.

 

[NINJA]

$$

sassy very true, I started college to be a financial Planner but could not pass the dam math..I could do a car loan with a pen paper and calculator, but I saw no point in learning algerbra as I never thought I wouls use it in life and I haven't..but you need to know it for college!

Can you reccomend and good books for fiances as my parents won't listen to me as I told them 17 years ago do start a retirement plan.

Also I have a friedn who has to file for bankruptcy.
Any good books on rebuilding your credit fast?

I know taking out a personal loan and paying it off fast is one, I assked my bank If someone gives you 2k into a cd would you give them a personal loan if the CD is signed over to the bank untill the loan is paid off..they said they don't but others may...and clue?

thanks

 

[2ez]

Check this FAQ: http://www.moranlaw.net/faq.htm


Lot of different ways to rebuild the credit. For one, you can see if your friend knows anyone (with decent credit and pay history) that will add them as an authorized user to their existing credit card.

You friend does not have to take possession of the card...just be included as an authorized user. So this will help with Utilization and aging. Most credit cards report to the 3 main agencies...so as long as on time payments are made....this will also be reflected on your friends credit report as well.

There are several creditors that are BK friendly. Orchardbank.com is one. Here is a list of companies that will approve credit after BK:



STARTER BK CARDS: score bad.
1. Household - unsecured 300 - 5 mos., score about 560 ( www.householdbank.com/hb/CustomerCa...direct=HomePage )
2. Cap1 - Secured and Unsecured ( www.capitalone.com )
3. Orchard - Secured ( www.orchardbank.com/care/CustomerCa...direct=HomePage )
4. American Online Secured Visa ( www.apbank.com/021_scc.html )
5. Mazda (Ford) - 1 day post BK13 - auto loan
6. Kay Jewelers - $2000 - 1 year post BK, score about 540
(www.kayjewelers.com)
7. Verizon (no deposit, as little as 3 mos after discharge - www.verizonwireless.com )

6 MOS - 1 YEAR REBUILDING CREDIT: score low 600s
1. Cap1 - unsecured gold 500 ( www.capitalone.com )
2. Orchard - unsecured $500 ( www.orchardbank.com/care/CustomerCa...direct=HomePage )
3. Target Guest Card- unsecured 200 (target.com/common/financialservices/apply_online.jhtml)
4. First Premier - $200 ( www.credit-cards-s.com/premier.asp )
5. Citifinancial Mortgage - 6 mths post - 9% ( www.citifinancial.com )
6. Providian Platinum (www.providan.com)
7. First National Bank Of Marin - $300 unsecured - low 600's (www.fnbmarin.com) - appears to be by mai offer only
8. Raymour and Flanigan Furniture (please provide url if available)

1-2 YEARS REBUILDING: score mid 600s
1. AT&T Wireless - No deposit ( **broken link removed** )
2. Cap1 Platinum - unsecured 5000. Yes, platinum. started w/regular card and negotiated credit line to platinum. (Wow!) ( www.capitalone.com )
3. Cross Country Bank Visa - unsecured - $300, then $600, then $1250 over time. * ( www.crosscountrybank.com )
4. Cross Country Bank MC - unsecured - $350 * ( www.crosscountrybank.com )
5. Dillards - unsecured - $500 ( www.dillards.com/cca/CreditCardApplication.jsp )
6. Circuit City ? unsecured -$2000 ( http://www.circuitcity.com )
7. Western Security Bank - secured ( www.westernsecuritybank.com )
8. Direct Merchants Bank $1001 (Semi-secured) - pre-approved mailings only ( www.directmerchantsbank.com )
9. Sprint PCS - $200 Assigned Spending Limit ( www.sprint.com )
10. Newport News/Spiegals/Eddie Bauer ( www.spiegals.com/home.asp )
11. Merrick - $1000, about 650 FICO (www.applymerrick.com)



2+ Years Rebuilding: score low to mid 600's:
1. Aspire - unsecured - $500 ( www.compucredit.com/pdcts.html )
2. Voicestream - No deposit ( www.voicestream.com )
3. Bank One Checking Account with Debit Card after 5 months usage ( www.bankone.com )
4. Mortgage Received (No specific name as more than one loan was found by those reporting receipt of mortgage loan.)
5. Nordstrom - suggest not applying on-line ( www.nordstrom.nordstrom.com )
6. First N.A. Nat. Bank - 3 years (www.fnanb.com)
7. Citibank MC- will consider post-7 years ( www.citibank.com )
8. Nextel - must be 7 years post BK, no dep. ( www.nextel.com )
9. Exxon - 4 years ( www.exxon.com )
10. Home Depot - 4 years ( www.homedepot.com ) **
11. Bloomingdales - 3 years ( www.bloomingdales.com )
***out of sequence due to updating of information
13. Washington Mutual Visa secured card issued by Citibank N.A. South Dakota ( www.washingtonmutual.com )
14. Mervyn's ** ( www.mervyns.com )
15. Generations (6 year mark!) - $1000 ( www.genscu.com )
16. Target Visa - mid 600's required ( www.target.com )
17. Lowes - 3+ years ( www.lowes.com )
18. Washington Mutual Mortgage - 3+ years ( www.wamuhomeloans.com )
19. Nordstrom - 5+ years (www. Nordstrom.com)
20. Wescom Credit Union - 5+ years ( www.wescom.org )
21. First Nationwide Mortgage - 5 years ( www.firstnationwide.com )
22. Dell - $1500 - 5+ years ( www.dell.com )
23. Nissan Lease - 6+ years (Please provide link if known.)
24. Phillips 66 - 7.5 years ( www.phillips66.com )
25. Ford Credit - 5 years ( www.fordcredit.com )
26. Diamond Shamrock - 6.5 yrs ( www.valero.com )
27. Menard's Big Card (Conseco) - $3000 - 5+ years ( www.menards.com )
28. Capital One Auto Finance -14 % interest, score approximately 650 - ( www.capitalone.com/capitaloneplace/...id=2000bann0202 )
29. JCB Card - CE642 (www.jcbusa.com)
30. Union Plus - initial rejection, then approved on PFB reconsideration (www.unionplus.com)**
31. Corvette Mastercard - 7 years post (was not in dispute when pulled)- score 678 with 4 CA's in dispute when pulled - $1500 - (www.household.com/corp/hipf_credit_card_select.jsp)**
32. J.C. Penney - 4 years, 7 months post bk7 (www.jcpenney.com)
33. BOFA - Alaskan Airlines Plat - 5 yrs, 3 months post BK7 approved on reconsideration (www.bofa.com)

Special Considerations-please consider these with a cautious mindset as these are not based on actual approvals but information gathered through CSR's, etc.:

1. Bank of America - will consider post-BK if you have established credit and can show unusual circimstances (business loss, medical, etc.). Customer service rep reports Secured considered 5-years post BK, Unsecured 7-years post BK.
2. Citibank MC- will consider post-BK after 7 years
3. Citibank Diners Club - will consider post-BK if you have established credit and can show unusual circimstances (business loss, medical, etc.)
4. Federated (Pres. Club Visa)- 3 years post BK was able to override with explanation and good (>680) score
5. Federated (Macy's) Store Card - 2 years post-BK was able to override

 

[NINJA]

credit

Thanks how about inprisonment, alcholism leading to 80k in medical..that would be special I would think

 

[tmax]

Sassy

if you know anything about options and can read charts well try some spread trading the more the markets have ups and downs the more I make for me I love it. take 2 trades on thursday rimm and apple broke the 20 dma i bought the puts and made 196% on apple and 230% on rimm on 2 days not bad for 2 days but you need to do this for a living which i do for my self i do not give any advice i am just giving you some directions.

tmax

 

[Sassy]

Tmax... I know what options are but other than that... you are way over my head. Besides I don't have the enough extra cash for this kind of risk. Until I win the lottery, I'll have to stick to small time investing.

 

[tmax]

investing

Sassy next week the fed will cut rates that is a given and the big boy are driving the GS BSC MER LEH to the ground in hope that the fed will try and get in front of the credit mess I am short all of the above right now. listin even a small invest can make some big money next week now i will use GS just because they have the best up side in my book they are down about 12 today and hopfuly down another 10 tomorrow

i am just taking tody's numbers if the rate was going to be cut tomorrow remember GS almost hit 250 on the last run.

i would take if you have it 3k maybe dont know what you are playing with so take 3 k and buy the 215 calls may be on the monday before the rate increase because that is when people will start to hedge there short positions
and when the rate is given as to how much everyone that is short will have to cover driving the stock through the roof you will make 100-500% that simple it will be up to you when you want to sell maybe 2 days tops the then get out options are truly not that hard let me know if you want more info

tmax

 

[2ez]

But Options involves more than just price movement / predictions....but how the actual options are priced to make money ? Technical Analysis and Options are sophicated trading / investing ideas and takes a good amount of time to fully understand and even then one should simulated trading before actually using their own funds. It may not be a good idea to suggest options unless one is versed in this.


What is the price of the May 215 Calls and how long should she hold ? You said the interest rate reduction is a known......so with this in mind, do you believe this is already priced into the Market ? Usually if something is a known....this is factored into the pricing.

When you say people will start to hedge their short positions......how many ways can this be done (Hedging their postions) ? Will they write or Buy Calls or Puts, What about Combs or Straddles ? How many people will use Options to Hedge and how many will cover ?


No disrespect intended here......but I wouldn't suggest any options setup.

 

[Sassy]

Still in limbo

Well we're still sitting on two houses that just won't sell. This really sucks... I hope some gives soon. He's talking about auctioning his house off once we move. We may try to lease or lease to own my house. However, I'd much rather just sell it. Then I could take the money and pay off the credit card bills that's piled up due to renovation cost. Then I'll be able to invest the rest.

 

[2ez]

Sassy,

Have you considered corporate leasing ?

Try your local hospitals. They have traveling nurses, that they need to find housing for and many have families. You can get top dollar with the rental income.


Few fellaz i know are holding onto the RE investment properties. How does the housing market appreciate in your area ? Do you have a LLC established. Between paying down a little on the principal with the rental income, housing appreciation in your area, and possible tax breaks...renting may not be a bad option.


Also, after your first year....if you wanted to buy another RE investment property, most lenders will allow up to 10 mortgages per person or entity.....and you can use up to 75% of your rental income as your own personal income....to help with the debt to income ratio when applying for another.

So a few of my friends have turned from Flippers.....into RE investors with the buy and hold for a bit philosophy.

 

[Sassy]

Thanks for the info... that's another good possibility. The market in our area has died. Three of the top carpet manufactures in the world are located in this town, and they are hurting. Laying off people and those who are out of work are moving out of the area to find jobs. Turning a slow housing market into a dead one.

I got divorced in 2001 and we had to sell our brand new home. We lost money on it because of 9/11 and the mess it created in the economy. I'd rather hold on to this house than to lose again. I just haven't had any luck with real estate. I did much better with stock market.

 

[2ez]

As you know.....there is always a solution to every challenge. Just have to put the feelers out there and see what your options are…….praying helps too.

Please don’t make any big decision while being emotional. Emotions seem to clog the rational thinking ability. It will all work out for you.

 

[2ez]

Sassy next week the fed will cut rates that is a given and the big boy are driving the GS BSC MER LEH to the ground in hope that the fed will try and get in front of the credit mess I am short all of the above right now. listin even a small invest can make some big money next week now i will use GS just because they have the best up side in my book they are down about 12 today and hopfuly down another 10 tomorrow

i am just taking tody's numbers if the rate was going to be cut tomorrow remember GS almost hit 250 on the last run.

i would take if you have it 3k maybe dont know what you are playing with so take 3 k and buy the 215 calls may be on the monday before the rate increase because that is when people will start to hedge there short positions
and when the rate is given as to how much everyone that is short will have to cover driving the stock through the roof you will make 100-500% that simple it will be up to you when you want to sell maybe 2 days tops the then get out options are truly not that hard let me know if you want more info

tmax

How did you play those 215 Calls ? Goldman has been pulling back. 215 Puts would have been on the money. Are you into Technical Analysis (RSI, Conver/Diver, Fibonacci, Elliot Waves) ? How do you price your options ?