BAGAKOAA; December 11, 2012 Now That's More Like It

Post 758

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December/2012

After that fun deposition day, I needed a kick back take it easy retirement day.

 

We were at the controls at the ring of the bell this morning.  We still did not catch our 20.25 for PIR, Pier One Imports, but we did catch another opportunity.  More later.

 

We spent about 35 minutes tightening some stops in the various portfolios and then woke up Man Child for school.  Then we took the dogs up and made sure there was no evidence of dogs in the backyard.

 

I confirmed we have a small leak in our faucet in the back yard.  I could try and fix it but would be moving into a new home shortly there after.  It is too small of a job to call our general contractor and too big of job for me.  The solution is easy.  I must break something bigger so its worth while for the general to come out.

 

Fortunately I have just the thing.  Our smoke alarms need new batteries and I got all of them to work but one so I ripped it out of the ceiling.  It is still not enough work for the general so I went looking for something else for them to do.

 

Devin and I discovered about four inches of baseboard they forgot to replace in our master bedroom closet.  So the little leak is now just one of several things that our contractor can come out and charge us a couple of thousands dollars.

 

Then it was time for my shower and to breakfast with my boy.  After a nice relaxing breakfast I drove Jack to his new school and I went into to get some brochures since everyone seems to like the story of how well Jack is doing in this school.

 

I then got home and saw my wife drive away with the big truck.  I now had to use her new bus to take packages to the UPS store for shipping all over the world.  That is a perk I miss about not working.  I handed the boxes to Ellen and she would make them vanish.  Now I know what is involved in making them vanish and how much it costs.  Ouch!

 

Douglas In England, we are no longer exchanging gifts!  Shipping was more than your gift.  We must assimilate our gifts for trips when we see each other.

 

After that, I had to go through the mail to get certain documents to Ellen.  I ran those items to the new office.  Once there I moved all of my sound equipment upstairs except the Fender 65 reissue twin reverb amp as it weighs about 72 pounds.

 

I decided to buy a 320 foot cable for it and just plug it in the warehouse and play it from 275 feet a way. 

 

I went back home after talking to one of my financial advisors who was trying to bring to my attention that one of their well vetted sources was suggesting a further pull back in a stock.  This source was using what is called Elliot Wave theory based upon Fibonacci Sequencing.  The formula for this sequencing looks something like this:

Fn=Fn-1+Fn-2. 

 

Well it had been a while since I had to figure out Fibonacci trending, but this stock is a fairly important one and I had laid my best guess out there Sunday night as to where this stock my be a good buy and this experts was suggesting a point about 9% lower that what I was seeing.

 

While deep in the study of Elliot Wave sequencing, I got a call from my buddy in the dessert of AZ.  He was checking in as he usually does and it was jst the distraction I needed to stop chasing Fibonacci Sequences.  (Good God I need a life.)

 

I had to run to the school and Pick up Jack and bring him home.  On the way back, I realized I had this big strapping boy with me and he could help me lug Mr. Fender Amp up to the music room.  Mission accomplished.  I still don't know how to hook anything up, but its all there now.

 

Then I had to run to my old office as one of our subsidiary companies in Switzerland needed a sign document that I had resigned from the company of the company that owned the company in question. 

 

It made me ponder what would happen if I didn't?  Would it all revert back to me?  Would I be able to hide in my office to avoid the ever increasing effectiveness of my wife's delegational abilities.  Could I once again return an office with real furniture and not Master's Golf Tournament portable chairs?  Despite all that rambling, I signed the document and dropped it off in the land of my former employment.

 

Then I had to run a couple of checks over to my Realtor Extraordinaire.  On the way I got a phone call.

 

Here is a little back fill on the phone call.  I may have mentioned I have been having a dialogue with the James Burton (Former Elvis Guitarist) Foundation about making my studio available to the foundation for kids of need who want to record.  Burton has a studio in Shreveport LA and Memphis Tennessee.

 

I found out last night that though James and Louise Burton sinverely appreciate the offer, they have a few too many projects in the works to consider our offer, BUT, the would get someone in touch with me to help with the design and consulting.

 

At first, I thought it was a very nice blow off, but then my cell rings today and it is a guy by the name of Norbert Putman.  The name was familiar, but I did not know why.

 

He introduced himself and said Mr. James Burton asked him to call.  He explained that he shared Bass guitar duties with Jerry Scheff, Elvis's Bass guitarist from 1970 to about two years after Elvis's death and he still tours with the TCB band.

 

 

He went on to become a composer, recording engineer and producer.  Besides working with Elvis, he has worked with Roy Orbison, Al Hirt, Henry Mancini, Linda Ronstadt, J. J. Cale, Tony Joe White, the Nitty Gritty Dirt Band, Michael Card, Ian & Sylvia and Bobby Goldsboro.  As a producer, he has worked with Jimmy Buffett, Joan Baez, Dan Fogelberg, Brewer & Shipley, Pousette Dart Band, Donovan, John Hiatt, J.J. Cale, the Flying Burrito Brothers, and the New Riders of the Purple Sage.

 

He produced Jimmy Buffet's biggest hit Margarita Ville.  (One of the few songs I can actually play it on my guitar.)  Putman indicated he had played with Elvis on quite a few songs.  I checked in the Elvis; A Life In Music, and Putman is credited with 122 songs with Elvis, which included some post concert overdubbing for some of the tour albums of the 70s.

 

We spoke for about 20 minutes and he will look at the video we posted here a few weeks ago and we will be talking after the holidays to determine his roll in the project.  Way cool.  He build Burton's studio in Shreveport.

 

Then I had to set up appointments with the screen guy to come out to the house and add some retractable screen doors to various doors in our home.  Apparently while we keep our home at 66 degrees, we cannot cool off all of Orange County by opening the door because our cats will get out.  So we are getting heavy duty retractable screens so we can lower  average annual temperature of Orange County, CA.

 

I got Jack home in time to clean up about 286 emails and check some stock alerts.  Then it was off to the store to pick up some prescriptions and dinner.  When I got my drugs and walked over to the produce department I could not figure out what the line of people were doing.  They were all waiting for Chinese take out.

 

In 15 years I have never seen the line that long.  40 minutes later I had 19 cartons of food and was finally headed home.  After a heated exchange about how we would divvy up the 9 cartons of food between the 3 of us,  we said grace and enjoyed our food.

 

Devin finished up some Christmas Shoppin' on line and then she went to retire for the night and here I am pounding away on the keyboard.  Like I said it was a nice quite day of retirement.

 

Let take a quick look at the markets today.

 

Visions Of Money Printers

 

Yes hints that the Fed will begin a new round of money printing (rumored to be about 45 billion a month) had the market doing high fives today, but partisan banter cooled things down a bit by the end of the day.  All the indexes are back up above 50 day moving averages, a good sign.  It would be a better sign if we could see a lot of new 52 week highs.  The NH-NL (New High-New Lows) numbers are a bit soft.

 

So Brian What Did You Do?

 

Specifically, we tightened up all our stops.  We have seen a nice creep upward, but do not want to give it back should we not get a deal out of DC.  I especially recommend you look at any equity with 205 or more gains.  We really tightened up our stops on BOFI which we have seen a 42% gain dwindle down to a 30% gain.

 

We suggested to someone who have done really well with an ETF PJP, to take half their position down as they are really up and playing on the house money.  We would suggest that anyone enjoying a nice gain at this time.

 

We also did what we suggested last night.  I was able to catch the short on ESRX.  We shorted at 54.75, put in a protective stop at 55.25, and are looking for 52.50 by this time next week to cash out.  Rumors of margin squeeze are trickling out of Motley Fools and Seeking Alpha, and the stock is piercing the upper end of their 2 year weekly Bollinger Bands Channel.

 

Typically that means they will correct or break out to the upside.  You can see where our money is.

Salve Lucrum

 

 

 

 

 

 

 

 

 

Brian Ireland
 
 
Since 11/25/2012
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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