BAGAKOAA; 9 March 2012 Screws And Booze

Post 608 CLICK HERE To See Past PostsMarch/2012
Yeah it was my official Friday off, not to be confused with the last Friday I stayed home to wait for happy cheery Ladislov, the teck from Samsung. I got up and woke Man Child who was dragging a bit today. I had a healthy bowl of oatmeal, well as healthy as I get with brown sugar and 2% milk. I also prepared my perfect cup of Twinnings Tea. I love my Kuerig, I don't care what Starbuck says. (They are coming out with a single serving coffee maker and GMCG Green Mountain dropped 14%.) Don't freak out! I was talking coffee not investing.

 

Anyway, my agenda was to put all of my nails, washers, bolts, screws, door hardware, springs, nylon zip ties, hexagon bolts (You probably didn't even think I know what those are.), tacks, picture hangers, and 43 other categories of stuff we should have thrown out 27 years ago, into 27 Ball mason jars. You see I don't really want to use those things, I just want to be like Jethro Gibbs on NCIS and have a guy over dump my screws out of the mason jars and pour some (sorry, can't do the bourbon) single malt. Just being a cool guy. Yep that's me.

 

Anyway after my bazillionth nut, I had had enough. There were 5 boxes of booze saved from the flood and recently removed from storage. I had the privilege of putting them away today. We have 6 types of single malt, 4 types of blended scotch, 5 types of wadka, gin, vermouth, Canadian Club (Does anybody drink Canadian club anymore? Aunt Kay, was that not Delores's drink of choice?), all kids of silly frilly martini mixings, lots of funky named after dinner stuff. And 5 bottles of Irish Whiskey. My dad loved Bushmills and many people think I drink Irish Whiskey, but I prefer single malt. I am blessed to receive several bottles of Jameson's or Bushmill's every year and I am flattered to receive them. Just for inventory control purposes, I try a shot every now and again in the hopes that the spirit of John Cronin will awake in me and say, "Listen you #^%%$&( halfwit, that Irish crap is really good now start liken it." So far, I like Glenanything.

 

By the time the booze and screws were addressed, it was time for Man Child to make it home. I had to tell him some serious news. His mom, my lovely wife had fallen asleep and taken a nap. Now that might not be newsworthy in your home, but this is big news at our house. Ya see, Heir Cronin does not allow naps in the concentration camp. Her favorite comment (and my Dad loved it),is "You can sleep when you're dead."

 

So for here to nod off to slumber land for a couple hours is HUGE. In her defense, she and Kristin had gone for a 5 mile run/walk and then to sauna for an hour. If I did that, I would be resting while I'm dead.

 

I am looking forward to a relaxing weekend of having breakfast with the guys, entertaining by the pool tomorrow night, catching up on some reading, finishing the level 3 home study charting course by IBD, and finding news ways to make money for the Salve Lucrum Portfolio Family.

 

I have been asked about the Salve Lucrum Portfolio Family. 14 people have trusted me to look over their Mad Money. No, they are not all crazy. I guarantee their principal plus an annual return that is above twice the Ten Year Treasury Note. My guarantee and the return on the principal is the only way I would do this because I could not sleep at night if I thought I actually might loose their money. Those 14 people receive those updates that I sporadically send them. They are nice fodder for the blog so I include many of them.

 

You might ask, How do you manage 14 portfolios?" I don't. I currently manage 19 portfolios, soon to be 21. It is not that difficult because we focus on the core holdings we mention here almost everyday. Some of the accounts are set up for margins and options, but I limit most of that activity to the larger portfolios and our own. If you want to know if I have ever had to pay these people for losses, the answer would be yes. On about 6 occasions, I made a trading error, creating a wash sale or true loss situation and replaced the lost funds immediately. It helps me sleep at night. Now you know what the Salve Lucrum Porfolio Family is.

 

So let's talk about the market.

As I mentioned, I send out portfolio updates to the Salve Lucrum Portfolio Family and today was no exception.

 

Boys And Girls;

 

I was there at the opening and at the close. Not much to report. The better than expected (a little better) jobs report was not enough to lower the U 3 rate, staying at 8.3%. The good news is the decent jobs report did buffer the market for the "Credit Event" in Greece. Come on folk if it walks like a duck and talks like a duck, call it a credit default.

 

Anyway we tacked on a little more green today. I will assume not much volume. We did sell a couple of calls against your long positions if you had 100 shares of XOM and CELG and had level 3 trading on your account.

 

You might look at the trades and ask why would he sell $81.00 worth of calls against my long position. If the calls expire on March 17th worthless, that is 81.00 profit in one week. Multiple that times 52 and then you see why it makes sense.

 

If you have ANY questions about any trades, as always drop me a note. Thanks for your trust in me.

 

Brian

 

After reading all the closing summaries, I can't add much to the note. Worth noting is the fact that O'Neil at the IBD is declaring today a stall day on the NYSE despite the fact is was up a bit. That will bring the distribution day count to 6 for the NYSE. We should watch this very close and it came as a surprise to me. I am looking forward to reading The Big Picture in the IBD tomorrow.

 

Our non-core pick yesterday was up 4.9% as ACET cleared its buy point. We are going to read some 10Qs this weekend and decide whether we commit to this as a core holding.

 

Beyond that, we hope you have a great weekend and don't take the day for granted.

 

Salve Lucrum   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brian Ireland
Since 12/21/2011
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.

2012 Year Ending

Dow 13,073

S&P 500 1,358

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