Mr Market

[Preston]

It must be tough making a living in this market?

[sponono]

definitely: even Garth is sitting with a net short put spread position. My longs have not worked out but my shorts have simply parked an ATM in my trading room, lol.

[Rams]

yes, Mr Market is printing money for traders....and is on sale for investors

[#4]

the market is far from on sale for investors. Almost all counters are still way above long term PE averages. We are still only sitting roughly on August 2012 levels, so really this sell off is in answer to the end of year rally last year. It is really only resources that have sold off, but that is the nature of commodity stocks. And no, Preston, it is not tough to make money in this kind of market. It is exactly what traders need. Volatility is the bread and butter of the trading industry. Just as long as you are (or at least, were) short. And day traders must be uber happy, because we are finally starting to see big 500pt plus days on the index, which traders need

[kwagga]

Yip. This is a traders market.

[Rams]

well, you know when you go to the Woolies sale, first its 35% off, then 50%, then 60%. 75%....so for investors , the sale has started...35% off is still better than no discount at all especially if you going to wear the now "old fashion" shirt when the its in fashion again...

[THRESHOLD]

Just "average down" said the broker. So now I own 68 toasters at an average cost of 41.5% off.

[Rams]

no silly...you just buy one toaster at a 35% discount becos thats what you think it costs...if goes any cheaper you dont want it...so for example...I want BIL at around 220ish....i will buy at 225 maybe...if it goes to 180 i dont want to buy anymore but if it comes back to 225 from 180, i want more...no averaging...toast(fire?) your broker...

[THRESHOLD]

no, no, no... the broker said that putting me in this first toaster at 3x the price of final toaster was all part of the plan. He KNEW they would drop and wanted to make money by "averaging-down." Just the other day he called and reminded me of the last toaster that I bought (on which I am already 50% up.) He has put me into a nice position with a microwave oven at a brilliant price now. AND ANYWAY 68 toasters is a lucky number - It ought to be on the primary Fibonacci sequence; so it's all good. Anyway - toasters are made of...? YES that's right: metal. So over the years they MUST go up. My broker said so.

[Rams]

then, the broker's client will always be toast if the client allows the broker to put you into every toaster...dont buy every toaster...buy one that you think is best price...

[THRESHOLD]

I did. AND another came up at a better price. So there was only one thing to do... average down. I think I will interrupt this buffoonery to go and make myself some toast and toast. How much has bread fallen? Oh no! I'd better have another slice of toast.

[Rams]

well, when my best priced toaster loses its VALUE, i dont buy more, i get rid of it...anyway go quickly...i can smell burnt toast!

[THRESHOLD]

Picked up some stale bread for next to nothing. Averaging down.

[Rams]

what, toaster broken?...use the other one, give one slice to the broker: even stale bread will get toasted...

[THRESHOLD]

Tasty he said. Swallowing the last word. Down it went. Averaging down.

[Rams]

have you heard of this little capsule that rich people take with their meals..it releases little gold flakes in their pooh...reminds me of brokers...always making it look good, even though you may be deep in pooh!

[Preston]

Thanks for toasting this post.

[Creature_of_the]

Try a toast sandwich...2 slices of bread with a slice of toast in between...........

[Rams]

Boston Bomber toast!