BAGAKOAA; 5 May 2011 I'm Not Quitting My Day Job

 

Post 424May/2011

 

 I'm Not Quitting My Day Job

 bad comedian

Well, quite a few of you sent me nice notes this week over a few of my e-mails.  One person sad they laughed so hard they spit up coffee.  Another had to be reminded there was a funeral going on in the next room, so stop laughing.  Another suggested I do stand up. And another sent me a cryptic note with LMAO attached.  Thank God for 14 year old sons who know every letter combination invented.  (Laughed My A** Of-if you were wondering.)  Glad he knew what it meant because I spent most of my lunch checking every stock exchange in the world.  I had a limit order placed in the Ireland Stock Exchange for Leprechauns Music And Organs LTD. 

 leps

Any who, I am glad you all appreciate my pain.  Today we had a meeting with our main contractor to finally get some satisfaction on a portion of the job they totally messed up.  Well, we showed him.  He is going to do it over, do it right and it will only take another three more weeks, but he did not get away with anything as we are paying him more then he quoted on the job.  So take that.  You don't mess around with the Crone Man.  That's what I'm talking about.

 

I actually got caught up on few things today at work, had a doctors appointment which had me drive across town so the doc could ask me how the house project was going.  He told me my blood pressure was slightly elevated.  Mmmmm.  Imagine that.  He takes me away from a fun day visiting with my contractors, has me drive 30 minutes away from my office, fight traffic, go to his office near a retirement community where really old people leave there home, put their car in gear, and they don't stop until they hit the side of the Macy's store at the Mall,

elderly

 and he wonders why my diastolic is up a couple points. Mmmm.  Imagine that.  He does like me though.  At 54, I am his youngest patient.  I have been in his lobby waiting, reading the paper and seen people sitting in the lobby and actually seen their picture in the Obituaries from that morning.  He likes it when he says take a deep breath and I can, or when he is done examining my joints and he says sit up and he does not have to help.

 

After visiting Doc, I made it back to the office and almost got caught up with e-mails.  Yes MaryKate I will get you your answer about dive training soon I promise.  (Sorry, it's late and did not want to send out a separate e-mail.)  My Aunt Kay was excited about me using her name in the e-mail last night so I thought I'd make her happy by mentioning her two nights in a row.  She informed me her knee surgery went well.  Good news.  For some reason I sent her a note about e-mail in the day's of Lazurus.  I though you might enjoy it.  Now imagine if they had e-mail way back about the year 30.  Here might be a note to Lazurus:

 

"Laz, its your buddy Brian.  I was scoping out FaceScroll and saw the news.  Don't know who this Christ guy is, but heard he threw a heck of a party in Bethany with tonnes of loaves, fish, and wine.  Bringing ya back from the dead, for real dude?  I'll bet you were just wasted, huh?  Will this guy be touring neat Bethphage any time soon as I have been struggling with my eyesight?  Best to ya, Brian."

 

Ok time to get to work as there was some news in the market today

 

 

We would like to say that not all of the communication was about what is going on in our little world.  I was quite proud of one reader which had suggested IRBT iRobot to us.  As you know we stopped out after our 8% loss so I asked this person for a new entry point.  I was blown away by her answer.  Hopefully she won't mind if I share some of it with you as it was text book perfect.  See my comments in CAPS:

 

"Morning!

I re-read the section on market timing in the IBD book and it looks like we are in a correction?  SHE WAS SPOT ON IT WAS. Was yesterday the fourth day of distribution?  SHE AGAIN WAS SPOT ON AND TODAY WAS THE 5TH.  REMEMBER THE TREND IS OUR FRIEND UNTIL ITS NOT.  MEGAN KNOWS TO KNOW THE MARKET BEFORE YOU KNOW THE STOCK. 

 

I am waiting for IRBT to form another pattern.  OH YEAH SHE IS READING THE CHART WELL.  AS YOU CAN SEE BELOW THERE IS NO READABLE PATTERN AT THIS POINT IN TIME.  THERE MIGHT BE SOME RESISTANCE AT THE 32ISH MARK, BUT I AGREE WITH HER LET'S BE PATIENT.

 irbt

 I still think they are a worthwhile small cap. We shall see what the future has in store, eh?

I ALSO ASKED HER ABOUT A NEW ENTRY POINT FOR OPEN OPEN TABLE. I'm a big fan of Open Table and use it once a week at least, but not sure how they make money? I read your write up in the last blog post... still not sure how / if this is sustainable.  GREAT OBSERVATION.  SUGGESTS ANYONE WHO IS INTERESTED READ THE LAST 10Q REPORT. THERE IS A LOT OF INSIGHT THERE.   It seems like someone could come in and offer something similar that's free to restaurants and supported by ads?  ACTUALLY OPEN MIGHT BE IN THE ENVIABLE POSITION WHERE FIRST IN GETS A DEFENDABLE POSTION BUT SHE BRINGS UP A GOOD POINT, THAT THERE IS NOT A HUGE COMPETITIVE MOAT THERE. Dunno. Also, the CEO leaving is scary."  BINGO, THAT IS WHAT HURT US THIS WEEK.  ANALYSTS AND FUND MANAGERS ASMOT ALWAYS HEAD FOR THE HILLS WHEN THE CEO OR CFO LEAVE.  THAT IS A GOOD BASIC RULE THAT ALL INVESTORS SHOULD OBSERVE.  O'NEIL AND CRAMER PREACH THIS.  NICE JOB MEGAN.

 

 

 

 SO WHY WAS TODAY SO UGLY

 ugly

The bulls were headed back to Pamplona today as the initial jobless claims exploded to well above the 400,000 mark which is a significant psychological market number.  There were some high estimates of 410,000 and 423,000 but no one guessed 470,000.  While the labor department tried to explain this away with technical excuses about auto plants shutting down and floods and tornadoes, this is the third week of and expanding jobless claims filing number.  Three is a trend in most statistical analysis.  All of the commodities collapsed making no one happy but Bernanke who recently explained that the inflationary trend of the last few months was transitory.  He may be right.  (We don't think so but give the guy a moment of glory.)  Airlines and other transportation stocks did well with the drop in crude.  The drop stopped us and a few other out of our positions in COP.  Today took nearly all of the portfolios out of GLD and SLV.

 

The DOW was down 200 points at one time today.  Mmmm who said we could se a 3-4% correction?  Oh yeah that was me last night.  Look for a poor jobs number tomorrow and a down market for most of the day.  The guess is 200,000 new jobs.  NOT.  We thinkest maybe 186-190.

Get some sleep folks as this is going to be a long day tomorrow.    

 

Salve Lucrum

  

 

 

 

 

 

 

 

Salve Lucrum    

 

 

 

Brian Ireland
BAGAKOAA;

I am not a professional investment advisor. Anybody reading my blog and investing accordingly must be out of their minds. I have made more money than I have lost. There are many more qualified people than I to actually tell you how to invest your money.

BAGAKOAA=Boys And Girls And Kids Of All Ages

Salve Lucrum=Latin for Hurrah for Profit.

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