Archive for September, 2008

Tuesday, September 30th, 2008

FDIC Will Raise Limits, Do You Want To Know Why?

I’ve been writing about FDIC for a while now and I’ve written about the fact that FDIC really only insures about $44,000 and not $100,000 as most people think so why is everyone rushing to increase limits to $250,000 now? The answer is obvious: Let’s say you have $400,000 in cash lying around. You’re smart […]

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Tuesday, September 30th, 2008

Raked in $3,000 in Past 9 Days

This market volatility is great for my ETF Covered Call strategy as it’s been extremely profitable to buy long and simultaneously sell short.  I’ve made $3,000 these past few days and  with the market gyrations, it’s been exceptionally profitable to buy back those contracts on the cheap when the market turns the opposite direction. I […]

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Monday, September 29th, 2008

When Is The Right Time To Panic? It’s A Bank Eat Bank World!

As expected, bloggers, pundits and media keep telling everyone not to panic which begs the question, when is it time to panic? Dow down nearly 800 points in day, down 3700 points from peak,  multiple major bank failures, investment banks filing for bankruptcy, insurance companies filing for bankruptcy, international banks failing, government interventions,  banks cannibalizing […]

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Monday, September 29th, 2008

Thank God For the Short Selling Ban

Geez, I shutter to think what would have happened without that short selling ban that was supposed to keep the market from crashing.   The Dow tanked 777 points today and if the short selling ban wasn’t in place then I wonder if the Dow would have tanked 2000+ points. Oh wait, there’s always tomorrow…….  😉

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Monday, September 29th, 2008

If You’re Buying Gold, Buy 1/10 oz Coins Along With Other Denominations

It seems many people are out buying gold lately but too many people seem to be seeking 1 oz coins instead of the more practical 1/10 oz coins.   The key issue here is if you need to resort to bartering with gold, you don’t want to have to “break” a one ounce gold coin or […]

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Sunday, September 28th, 2008

Bailout Bill Will Fail, Won’t Stop Recession

MSNBC has a nice summary of the Bailout Bill and I’ve read through all of it and I don’t see how it’s going to solve any major problems. The best this bill is going to do is prolong the pain and it won’t stop the US economy from slipping into a major recession. I’m still […]

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Saturday, September 27th, 2008

Are You Asking, “What If….?”

Everyone seems to be making assumptions that a bailout bill will pass, it will cure everything and things will return to normal a few days later.  The prudent investor needs to ask, “What if…..” What if the bail out bill doesn’t pass? What if the bail out bill passes but it doesn’t help? What if […]

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Saturday, September 27th, 2008

WAMU + Chase = Lower FICO Score?

For those people that have Wamu credit card(s) and Chase credit card(s), the obvious question now is how long will it take Chase to consolidate credit card lines and how will that impact FICO? If you have $10,000 credit line at WAMU and $10,000 credit line at Chase and Chase consolidates them both to $15,000 […]

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Friday, September 26th, 2008

US Mint Stops Selling Gold!

Didn’t I just write a post about gold confiscation coming soon? Well the first step is the US Mint running out of gold which appears to be the case right now. From Yahoo. WASHINGTON (AP) — The U.S. Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins because it can’t keep […]

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Friday, September 26th, 2008

Americans Acting Like Pre-Katrina Victims With Banking Mess

Remember hurricane Katrina?  Category 5 hurricane heading towards New Orleans and no one thought anything bad would happen: no preparation, no evacuation, no disaster recovery planning, no competence on any level. We’ve got a category 5 financial disaster right now and people are acting like deer on headlights: frozen and unprepared. You’re going to find […]

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