What to do? What to do?

[Tech_Esq]

Ok, somehow, through no wisdom on my part, I have not participated in the meltdown of the market. Through some incredible timing and a little sheer laziness, I rolled my ESOP and 401(k) funds into my IRA about this time last year and never invested them. I then sold all of the stock I was holding in that IRA in preparation for buying something, but I got too nervous before I did it and just held off. Eventually, I bought 6 month CDs with most of it, to wait it out. One of the CDs the bank failed within 3 months. I got my money back from the FDIC. They other one matured in January.

Now the question is what to do with this somewhat sizable (at least to me) chunk of cash languishing at money market rates in my IRA? Any good suggestions?

 

[DavidS]

Ok, somehow, through no wisdom on my part, I have not participated in the meltdown of the market. Through some incredible timing and a little sheer laziness, I rolled my ESOP and 401(k) funds into my IRA about this time last year and never invested them. I then sold all of the stock I was holding in that IRA in preparation for buying something, but I got too nervous before I did it and just held off. Eventually, I bought 6 month CDs with most of it, to wait it out. One of the CDs the bank failed within 3 months. I got my money back from the FDIC. They other one matured in January.

Now the question is what to do with this somewhat sizable (at least to me) chunk of cash languishing at money market rates in my IRA? Any good suggestions?

Invest it in art. The art market has appreciated every year since 1980 and has given better returns than gold, stocks, money markets... you name it.

 

[Tech_Esq]

Ok, somehow, through no wisdom on my part, I have not participated in the meltdown of the market. Through some incredible timing and a little sheer laziness, I rolled my ESOP and 401(k) funds into my IRA about this time last year and never invested them. I then sold all of the stock I was holding in that IRA in preparation for buying something, but I got too nervous before I did it and just held off. Eventually, I bought 6 month CDs with most of it, to wait it out. One of the CDs the bank failed within 3 months. I got my money back from the FDIC. They other one matured in January.

Now the question is what to do with this somewhat sizable (at least to me) chunk of cash languishing at money market rates in my IRA? Any good suggestions?

Invest it in art. The art market has appreciated every year since 1980 and has given better returns than gold, stocks, money markets... you name it.

While my IRA is pretty flexible, I don't think there is any way to invest in art with it

 

[wimpy77]

money seems to be good right now. im not ready to invest in stocks at this point. david and toro and better at this stuff than me. im just chicken to put my money in right now.

 

[auditor0007]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

 

[Tech_Esq]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

 

[DavidS]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

 

[DavidS]

Ok, somehow, through no wisdom on my part, I have not participated in the meltdown of the market. Through some incredible timing and a little sheer laziness, I rolled my ESOP and 401(k) funds into my IRA about this time last year and never invested them. I then sold all of the stock I was holding in that IRA in preparation for buying something, but I got too nervous before I did it and just held off. Eventually, I bought 6 month CDs with most of it, to wait it out. One of the CDs the bank failed within 3 months. I got my money back from the FDIC. They other one matured in January.

Now the question is what to do with this somewhat sizable (at least to me) chunk of cash languishing at money market rates in my IRA? Any good suggestions?

Invest it in art. The art market has appreciated every year since 1980 and has given better returns than gold, stocks, money markets... you name it.

While my IRA is pretty flexible, I don't think there is any way to invest in art with it

Liquidate your IRA and buy in some emerging art. I'm dead serious about this.

 

[xsited1]

Art in the form of Bonds. Ask your broker.

 

[Tech_Esq]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

Actually that's what I was thinking about gold. The ship sailed on that long ago. That's why I said metals.

On the purchase of gold I was saying once we hit bottom, my thought was that some people will sell their gold (causing the price to drop, probably a lot) and flood into equities. Not that I'm trying to overly time anything, but I would think there would be a sweet spot where gold would drop below $700 or $800 and I might pick up about 20% of my portfolio at that point. If it dropped further I would add, because the inflation that's coming is gonna be a bitch and a half.

If silver is a good deal now, I might just start buying that now.

 

[Tech_Esq]

Art in the form of Bonds. Ask your broker.

Really? Cool!!

Bonds have been very, very good to me this year.

 

[DavidS]

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

Actually that's what I was thinking about gold. The ship sailed on that long ago. That's why I said metals.

On the purchase of gold I was saying once we hit bottom, my thought was that some people will sell their gold (causing the price to drop, probably a lot) and flood into equities. Not that I'm trying to overly time anything, but I would think there would be a sweet spot where gold would drop below $700 or $800 and I might pick up about 20% of my portfolio at that point. If it dropped further I would add, because the inflation that's coming is gonna be a bitch and a half.

If silver is a good deal now, I might just start buying that now.

Buy the silver ETF. Up 3% today to $13.15. It's gone as high as $20 in the 52 week high. This was what Cramer recommended. SLV.

 

[xsited1]

Art in the form of Bonds. Ask your broker.

Really? Cool!!

Bonds have been very, very good to me this year.

Me 2. As I've mentioned several times, I took my money out of the stock market when the Democrats took control of Congress in 2007 and put it in various bonds.

 

[Tech_Esq]

Art in the form of Bonds. Ask your broker.

Really? Cool!!

Bonds have been very, very good to me this year.

Me 2. As I've mentioned several times, I took my money out of the stock market when the Democrats took control of Congress in 2007 and put it in various bonds.

In 2007, Lockheed Martin bought the company I had an ESOP with. My initial shares were valued at $13.50. Lockheed bought for $212/share.

That was my best stock move of all time.

 

[Tech_Esq]

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

Actually that's what I was thinking about gold. The ship sailed on that long ago. That's why I said metals.

On the purchase of gold I was saying once we hit bottom, my thought was that some people will sell their gold (causing the price to drop, probably a lot) and flood into equities. Not that I'm trying to overly time anything, but I would think there would be a sweet spot where gold would drop below $700 or $800 and I might pick up about 20% of my portfolio at that point. If it dropped further I would add, because the inflation that's coming is gonna be a bitch and a half.

If silver is a good deal now, I might just start buying that now.

Buy the silver ETF. Up 3% today to $13.15. It's gone as high as $20 in the 52 week high. This was what Cramer recommended. SLV.

I know what I'm doing tonight. Thanks.

 

[wimpy77]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

6000 many believe will be the next bench mark, if it breeches that then lord help us.

 

[auditor0007]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

Gold has been all over the place. A few months ago it was in the $700's. I think you missed the boat on gold. I tend to agree that it's not going anywhere fast from its current position. But I'm not an expert. Probably a good reason to listen to me, lol. The experts haven't been doing well of late.

 

[wimpy77]

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

Gold has been all over the place. A few months ago it was in the $700's. I think you missed the boat on gold. I tend to agree that it's not going anywhere fast from its current position. But I'm not an expert. Probably a good reason to listen to me, lol. The experts haven't been doing well of late.

yeah ive heard bottom called five times this week

 

[Peejay]

This is the norm these days. People wondering where, oh where, should I put my money so I can get some more of it without actually having to work for it. You don't intend to actually work, right ? You intend to try and glean some cash because you have some cash ?

And you folks like to talk about people who feel entitled.

Want some more money ? Go earn it. Otherwise, I sincerely hope you lose it in the market.

 

[Neubarth]

Gols is a pretty yellow metal that is worth what ever people will pay for it. When the food riots start, gold will not have much value.