MightyMO : Rob The Stock Markets Blind: Blog land Monday

Hello all of you in Blog land. Here at Rob the flea Markets Blind, I also take the position of writing about the fun and enjoyment of the 'treasure hunting' at garage, estate, thrift, and stores looking for bargains that can be resold for a gain. At this point in my life, unlike other blogs of this type, I do it for fun and amusement. In the years ahead when I retire, I might do it for profit. How it's just a fun hobby.

It's just purely amazing how one's junk is another's treasure or need.

Do you sell on Ebay ?

Hey you cats out there, did you jump going to garage sales ,

yaaaaaaaaaaahooooooo

Winning is grabbing momentum, profiting from it and then releasing it

A winner must be willing to embrace change and welcome challenge. The biggest “fear,” if there is one, is not of the unknown, but of becoming complacent and stagnant. An environment of change and even uncertainty can energize a mentally strong person and bring out their best.

A winner is willing to take calculated risks. This is a different thing entirely than jumping headlong into foolish risks. But with mental strength, an individual can weigh the risks and benefits thoroughly, and will fully assess the potential downsides and even the worst-case scenarios before they take action

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The Daily Log

As followers of this blog knows, I tend to write about estate sales from time to time.
I plan to write stories about my finds and gains on this on a more frequent basis from this point on.

Monday Monday, May 19

Have a good day, see you tomorrow.

Friday, May 16 leftovers
Found a few things yesterday, bought some books, found a great Mickey Mouse watch, more on that in a later blog. Was highly tempted to get an Charles Kimbell oil painting but couldn't find a going price for it online.

Todays Hint...

One of the things to look for is Vintage Corkscrews. One can find these at next to nothing at estate sales and they go fast on Ebay.

More later. As I transition over to the 'treasure hunting' aspects, I will be showing my Catching Fire portfolio here from time to time but not on a daily basis.

You, you, you need to rake

Do I rake ?

News

THE STOCK MARKET INDICATOR

"What seems too high in price and risky to the majority usually goes higher eventually, and what seems low and cheap usually goes lower." This famous statement is from William O'Neil in his best selling book, How to Make Money in the Stock Market.

There are numerous indicators measuring everything from sentiment to fundamental ratios to technical chart patterns. Every one of them is subject to interpretations which can result in incorrect decisions.

Even if some of these indicators had predictive value, on any given day there are so many potential news events that could change market direction that it is impossible to keep track of them all.

But there is one indicator, one core piece of information, that is always up to date and always correct. That piece of information, is price. And particularly the closing price at the end of every trading day. All the news, inside information, economic and fundamental data available, is reflected in that closing price. Price is the ultimate stock market indicator.

The buying high price strategy works whenever the market is accommodating and the market is certainly in an accommodating mode.

THE FEDERAL RESERVE SYSTEM AND MARKET DIRECTION

My approach has always been to ignore the predictions and forecasting from the market media and tune in to the music from the Federal Reserve and stay with the trend. I have found out after a very long experience in the stock market, is to never fight the FED. As you all know, the FED implemented a process to rescue the US economy from the brink of a depression starting in 2008. It consisted of buying bonds and risky assets to pump money into the economy. It has been known as QE. Even with all the criticism , the economy has managed a recovery with unemployment declining, with the economic numbers pointing to further expansion and the housing market has definitely improved. ------------------------------------------------------- My MAJOR stock market axioms.

1. If the stock you purchased is going the wrong way, YOUR BEST AND SMALLEST LOSS IS YOUR FIRST LOSS (cut your losses short)

2. As best as you can, the market can be very volatile, NEVER LET A PROFIT BECOME A LOSS (sell before it drops below your cost basis)

3. Be on the lookout for stocks hitting their first 52 week high or all time high. The chances are excellent it will continue to hit new highs. BUY WHEN A STOCK HITS IT'S FIRST HIGH. A STOCK'S FIRST HIGH IS USUALLY IT'S LOWEST HIGH

4. Don't hesitate selling a stock if the trend has changed or market direction has changed. DO IT FAST.

5. When you have a winning stock, buy more of it and add to position. LET YOUR PROFITS RIDE.

6. IF you are in a position where you can't watch the market, sell your positions. One can always buy back the stocks.

7. Do take advantage of market irrationability. There are excellent opportunities when this happens. I will be relating these opportunities in future postings. It is the basis for the ROB the Markets Blind portion of my strategy.

8. Avoid people who are overly negative on the market. They don't make money consistently and you won't either. (Joe Granville was negative on the market for ten years (1990-1999) during one of the best 10 year bull stretches in history).

9. You're not in a contest to see how many picks you got right. Remember you goal is to make an overall profit.

10. NEVER, DON'T EVER, FIGHT THE FED

Blog land Monday

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