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A silly name for a serious group of traders/investors. The group mission is to improve members skills as traders/investors through the sharing of knowledge, ideas and strategies. All levels of experience are welcome to join. Please do not include links to your personal web page in your posts. Posts containing these links will be deleted.
Active Since 01/05/08
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Will Profit
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I'm buying this slowly for the long term as it goes under $200.00. Do I need my head examined ?
Posted January 05, 2008 (06:22PM)
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Chartsetups.com
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Hmm, seems like it would make a bit more sense to start building after the next major earnings reports from major financials. I think that was sometime in Febuary if I'm not mistaken. Good job on the "scaling in" very smart. I was thinking about doing the same thing with deep in the money options on GS. I like to buy 33% at a time on my buys. BTW - that is what I am currently doing on shares of controversial BIDZ. I bought 25% of my position last week. Good luck with GS - your NOT crazy :)
Posted January 08, 2008 (10:00PM)
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Will Profit
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Welcome to the group. I wasn't even aware of BIDZ and reading up on them was very interesting. It's a good thing that people used the Barrons forum to make their points. Boxing gloves would have to be handed out If they were in the same room. I will put this on my watchlist. 4.95 a trade and impulsiveness Drove me into GS, obviously to soon. Stubborness will enable me to increase position and HOLD shares until the cows come home. Thank you for posting, and thank you for the vote of confidence regarding my sanity.
Posted January 08, 2008 (10:45PM)
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Will Profit
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Goldman Sachs forecasts recession. It's gives me such a warm feeling to have my newest holding participate as a harbinger of doom. Doesn't matter, I'm holding on till the sun shines again.
Posted January 09, 2008 (02:34PM)
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victork
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GS, no your not crazy. While all others are reporting bad qtrs and write offs, GS is continually doing things right. That gives me great confidence in the managment team, which in my opinion is the best in the world. I do not own any shares, but with a P/E of 7.6 this stock is a bargain. Unfortunately, I own some financial stocks and have to sell something in order to buy GS. I am keeping an eye on this one and may start a poisition at 180. Cramer also owns this stock so you can bet the research and homework has been done. Anyways, with all stocks you must always do your homework to confirm what people are saying.
Posted January 09, 2008 (03:29PM)
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UPod
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Will Profit - As far as financials go, I think GS is the best of the best. They're known to have the midas touch. They're one of the only firms that didn't get burned by any sub prime dealings. Once things start to turn-a-round for the financials, GS will be in the best position to take advantage of new opportunities. And since you said you're hanging on to this for the long term, I think you'll be just fine. Have you noticed Citigroup currently has a 7.6% dividend yield. Man, that is soooo000o tempting. I can't help but think there's more bad news to come for them though. I've also read and heard talk that they might have to cut their dividend which would definitely send this stock lower.
Posted January 09, 2008 (04:18PM)
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Will Profit
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Citi was among my candidates but I chickened out wondering if it will get bad enough to cut the dividend. victork , what financials are you into?
Posted January 09, 2008 (09:24PM)
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victork
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I agree with you Upod on GS. I also agree with you on Citibank, that 7.6% dividend is not safe and I expect it to be cut 40-50%. Will, funny thing you asked. I own BBD and C. I bought about $250 worth of C at about 39 and bought more (about $250) at around 33. Like Upod said, the dividend is not save and once they announce a cut, I expect the stock to go lower. I am going to start a new thread on C and get opinions on when to buy. BBD is a Brazalian bank and Brazil is so far EnFuego! I was on vacation when it hit 35 in which I would have sold and bought back shares at 29 which would have also improved my cost basis. Since that did not happen, I am a holder until something changes in Brazil.
Posted January 09, 2008 (10:17PM)
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Chartsetups.com
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With GS operating on all cylinders during the worst of times for the banking sector I think you will do just fine. In fact they are buying back shares (putting their money where their mouth is) - that is outstanding. Every 5-10 pts down I would dollar cost average in if I were you... I would be shocked if GS didn't gobble up some of these companies getting shot down... like a T-REX preying on lemmings. Ultimately thats a good/great thing for GS if they can pick the right companies. Honestly, I think the best investment ever might be to buy a home JAN 1 2009 - that is likely when the housing market will stabalize/turn up while sorting out this mess. I am taking a trip to Fort Myers Florida to look at condos. :) I like the GS trade - looking to get in after the earnings announcements next month....
Posted January 11, 2008 (04:37PM)
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victork
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Like everyone is saying, GS is the best of the best. It is doing well in bad times, imagine if things were going well. This stock would go up to 300 in a good environment. A P/E of less than 8 is RIDICULOUS!!!! A screaming buy if you ask me. I am hoping it will go down to 180 so I can start a position, but I am little low on side cash so I will have to see what I have left when the time comes.
Posted January 12, 2008 (12:36AM)
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Will Profit
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Revelation!!! I have read that CHARTS are showing my tech. analysis friends that GS is hitting lower highs and lower lows!!!! They need charts to show them this??? What a sad state of affairs my FUNDAMENTALIST friends, when we can't see the forest for the trees without the aid of charts.
Posted January 16, 2008 (07:42AM)
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Will Profit
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Sold out my position in GS. Couldn't stand the pain. Posted trade note. Flog me, abuse me, berate me, I deserve it.
Posted February 12, 2008 (11:34AM)
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snowman
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Good for you, don't fall in love with it and end up with a broken heart.
Posted February 12, 2008 (07:33PM)
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victork
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Just remember why you bought the stock in the first place. I do not think anything has changed fundamentally with the company so I think it is safe. I do not think you deserve any abuse, learn from your mistakes and try not to repeat them. We all bailed from a stock because the pain got too great, I am one of them. I still think GS is a good long-term investment. With 4.95/trade, you should never buy a stock all at once. I learned that lesson the hard way. Also, always have cash on hand, never have all of your money invested in stocks.
Posted February 12, 2008 (10:25PM)
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victork
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One thing I may add is that you said you are buying this one slowly and for the long-term, what happened?
Posted February 12, 2008 (10:27PM)
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Will Profit
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I was in it for the long term. I kept it a month. ha ha. Seriously, I let myself get depressed since I bought in to soon. It tied up money that I could have used to keep shorting the market. I have kept MO HAL JCI for almost a year now. GS was a LATE thought.
Posted February 12, 2008 (11:15PM)
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victork
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GS has a P/E of only 7 which is very low for the growth it has. At least your other holdigs are good companies. Yea I know what you mean when you have to sell something because you get short on cash, I have done the same on some of my holdings. Key to remember is to never have 100% in stocks. Always have some cash on the side. This is my new strategy for 2008, we will see if it works. So far it has allowed me to reduce my cost basis, especially on the downturn we had a few weeks ago.
Posted February 13, 2008 (02:13PM)
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Will Profit
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Today, Merril cut GS earnings estimate for this year. GS only down about $.74 per share on the news (as I write this) to 176.80 per share.
Posted February 26, 2008 (09:55AM)
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lucky rabbit
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time to get back in, I personally bought in at 190 but I'm not stressing, this earnings report next month looks like a good catalyst. don't forget the multiple they have, and also do not forget that they have yet to do something wrong!
Posted February 27, 2008 (08:23PM)
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victork
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Nice call Will on the sale. I still think this is going to 200 by Sept, but you made a good sell!
Posted March 05, 2008 (03:42PM)
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