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Monday’s Trading – 6/1/09

Make sure to see the Box of Miracles post prior to this one.

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This entry was posted on Monday, June 1st, 2009 at 9:00 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

115 Responses to “Monday’s Trading – 6/1/09”

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  1. narrowminds says:
    June 1, 2009 at 6:48 pm

    Juile,
    Yes I think we should!!!

  2. narrowminds says:
    June 1, 2009 at 6:53 pm

    Juile,
    Like David (1 min into the video) http://www.cnbc.com/id/15840232?video=1138453967&play=1 all the technicals are inline and the instituations ready to keep this rally going, does not sway him from the times in store for the economy..

  3. after says:
    June 1, 2009 at 7:40 pm

    FAZ, for those in it now, or considering it…are you buying for a trade or perhaps longer. I have some Oct 10 calls now, likely down on them a bit…but keeping thinking, nay dreaming, that if it can get to half of the 52 week high.lol..

    still riding some DXD/QID with june calls sold on them..not doing well with that currently but i’m not sweating the position at this time…

  4. K says:
    June 1, 2009 at 7:49 pm

    after,
    my TOS account almost set this is perfect to get some calls on FAZ :D

  5. George says:
    June 1, 2009 at 8:22 pm

    Julie,

    At this point, I don’t use USAA for my insurance. My relatives do and they save a lot of money over local insurance companies. They have home, auto and life insurance.

    I use State Farm and they have a package deal because my wife and I have two homes, life auto, long-term care and a large overall comprehensive insurance policy.

    They are a fine company and good folks to do business with. They also proved financial advice for free for their members. That involves a telephone conversation to go over all finances and plans one may have.

  6. George says:
    June 1, 2009 at 8:27 pm

    Matt,

    We peeked over and came two points from closing at the Box of Miracles at 944. SPX must not have liked what it saw inside. Bears maybe?

  7. K says:
    June 1, 2009 at 8:42 pm

    futures are about to go bye bye :P

  8. admin says:
    June 1, 2009 at 9:22 pm

    George,

    It is more likely bulls up there. They are finally getting the chance to escape the bull trap they’ve been in since Election Day and are selling to get out even.

    Matt

  9. K says:
    June 1, 2009 at 9:54 pm

    people will get really confused now that the DOW will jump thanks to CSCO and the other company.. doesn;t cisco belong in nasdaq? this is BS kill the DOW already

  10. Julie says:
    June 1, 2009 at 9:59 pm

    George,
    Thanks. One more question. Would you
    buy a Volt from GM for $40K?
    I think we need another Henry Ford. And
    I don’t see one.

    Have a great evening.

    Julie

  11. dblwyo says:
    June 1, 2009 at 10:34 pm

    Matt – love the “Box of Miracles”. Indeed it is.

    Just for the record spend my time today looking at econ data with the recent GDP updates. You might might want to look at this STL Fed graph just created comparing real consumption vs real retail sales since the data came out at the end of the day:
    http://tinyurl.com/nfhdtb

    If it’s hard to see both have dropped back down in April. Real consumption is now -1.9% YoY which is as bad as it was during the worst of Q4. Also for the record drops in employment are beginning to swamp decreasing increases in real wages; YoY changes in Wages + Employment is THE best indicator of future consumption and it’s dropping.

    What were the Kubler-Ross steps – we still still trapped or recycling back to denial ?

  12. George says:
    June 1, 2009 at 10:39 pm

    Matt,

    Good point. I suspect there are a lot of the “good” advisors telling their clients this is a selling opportunity.

  13. George says:
    June 1, 2009 at 10:58 pm

    Julie,

    No, I wouldn’t pay that much for a Volt. A Toyota Prius is around 21K. With that extra 20K for gasoline, at $5 per gallon and 30MPG (and that’s on the high-end) would buy 120,000 miles.

    What are they thinking?

    GM was the first true innovative car manufacture. They came up with most of the marketing concepts and car design changes that occur in that industry, continually updating their product’s looks and performance. As a business, they were second-to-none with respect to ethics and quality.

    But that leadership isn’t around anymore, and while they could recover and be the world leaders, that won’t happen anytime soon because the real culprit, I mean corporate, leader is the union – they’ve shown the world that they run the show. And they did that in front of a Congressional committee.

    We’ll never learn.

  14. George says:
    June 1, 2009 at 11:17 pm

    BTW, the Prius is in its 3rd generation. After 25 years I donated my Toyota to the Kidney Foundation. When they came to pick it up, it was still in great running condition.

    Why does the price of almost every manufactured widget go down except for automobiles? I mean, Best Buy is selling killer laptops for $350… and several popular brands, too. I can buy a standard washing machine for the same price or less compared to several years ago – not counting those front-loading fandangled ones. And TVs – giving them away.

    It certainly can’t be supply and demand driving up the price.

    On the other hand, I can’t believe how relatively low-cost cars are considering there are thousands of parts that are required, as well as the enormous amount of energy, it takes to make all of that metal and plastic.

    Something ain’t right.

  15. Julie says:
    June 1, 2009 at 11:44 pm

    George,
    I will continue to drive my 23 year old Toyota.
    It gets 33 MPG around town and over 40 MPG
    on the highway. Guess I meet the 2016
    standards.
    I’m with you on the price…it seems like they
    set the price right at the point where the
    average person is able to purchase using
    longer term financing. Always wondered what
    would happen to price if people stopped
    buying.
    Just could not believe GM folks on TV claiming
    that selling the Volt for $40K would save the
    company. I guess it would if people would buy
    it…but I can’t find one person who would.

    Julie

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