Expecting volatility tomorrow for monthly option expiry, and somewhat as a follow-up for today's price action and 'failure' of the test at 25.5. Could move big either way, my personal bias for the day will be down.

Grant 302 said:

Could move big either way, my personal bias for the day will be down.

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And I don't mind being half wrong here.

DOW up 364.16 +1.43%. Gross holdings up 2.17%. Hedges dirt cheap for todays (last day) part of the roll.

I'm thinking the 26k test will come next week if not later today.

Agreed. The 26K test is coming soon to a ticker near you.

Almost made the run toward the close today +443.86. Only 116.75 points to go for 26k. Good stuff and nice way to end the week!

Indeed!

You boys must know what you're doing!!!.....I'm still available for adoption...The Boss comes with me.....

Grant 302 said:

I'm thinking the 26k test will come next week if not later today.

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Well, it's the last day for me to be right about the 'next week' part...

I'll take it!!

26,045.12 +194.49 as I type.

Shall we change the title of this thread to DOW 30,000?

Rick,
I still think we got a lot of tyme before we hit that lofty level. Hitting 30K or 35K or even 50K in the next five years will suit my retirement plans perfectly.

Nice call Grant.

VoodooBoss said:

Shall we change the title of this thread to DOW 30,000?

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Might be tyme to start a new thread when the market is knocking on *that* door!

TymeSlayer said:

Rick,
I still think we got a lot of tyme before we hit that lofty level. Hitting 30K or 35K or even 50K in the next five years will suit my retirement plans perfectly.

Nice call Grant.

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Agreed and thanks Tyme! But you know it was largely luck! Still holding my breath for the needed pull-back. The higher this goes the bigger that pull-back/test needs to be. Could be several weeks away or start on Monday. Probably going to be slow or 'lazy' rolling the hedges up.

Well another 10% move up would be close to 29,000, I can see that happening this year.

Just read all this and you guys are way smarter than I. I am using patience to my advantage and using targeted funds for around my retirement age because I'd be in a cardboard box if I tried to pick stuff. Is there like a financial goals thread or anything? I have a long-term strategy and who better to comment on it than people who want to throw money into the same garbage disposal (racing) as me?

No financial goals thread, this is TrackMustangsOnline after all. I was an investment professional for over 20 years but it was on the institutional side of the street. I don't give any investment advice, I don't have any, but I'm sure we can probably help with financial planning.

The first thing you want to do is max out your savings especially if you have an employer that offers matching in a 401K type vehicle. I'm not sure what the government does there. If not then start contributing to a Roth IRA and have it come directly out of your paycheck so you never see it. Once it goes into the account don't touch it. I suggest going into a US total market index fund or S&P 500 index fund to start until you have some money saved then look at diversifying from there. I'm a big believer in the KISS method for most things in life including retirement saving.

What, no FinanceMustangsOnline? Sheesh.

Some goals include:

- F150 and Escape paid off by November (way ahead of schedule, I hate debt)
- Save enough to pay cash, or at least a very significant down payment, for a house by the time I retire from the military (about 12ish years, give or take)
- Be able to retire from the military and only have to work part time so that I (er...I mean WE) can enjoy my hobbies and take care of the kids (to that end, she still wants to work, so while we are only living off my income for now, she wants to pick up the baton when I retire)
- When we reach eligible retirement age (not military retirement) be able to drop everything and enjoy it

We are currently on track to accomplish all of those by doing this:

- Saving six months of expenses by the time we leave Japan, and bumping it up to a year's worth afterwards (about 18 months)
- Separate checking accounts for our allowances, plus a joint one for bills
- Separate savings funds for: my hobbies, her hobbies, travel, and a house
- I am close to maxing out my Thrift Savings Plan (the government's 401k) and will bump up contributions when the cars are paid off
- Her and I max out Roth IRAs
- In regards to the TSP and IRAs, we use funds targeted for our approximate retirement ages
- I have an extensive budget spreadsheet
- Buying ammo (I kid...or do I?!?!)

So then two questions I suppose:
- Even though her and I will be covered by the VA, I would like to avoid them at all costs because...well, it's government-run healthcare. It's awful. What vehicle should I use to help with medical bills? A health savings account?
- Saving for future kids' educations? I want to be able to give them the option of a trade school or college, but they've got to get some job training. Best option for that? A 529?

And wall of text hits you for 10000. Sorry.

Looks like you're doing great.

Regarding the medical I believe (like it or not) that within the next 10 years we'll all be on single payer health care so it won't matter.

I'm using 529 plans for my kids. I went for the 70% stocks and 30% bonds fund instead of a target date fund and that has worked well for me. I'm considering moving it into 100% cash/bonds possibly later this year.

VoodooBoss said:

Regarding the medical I believe (like it or not) that within the next 10 years we'll all be on single payer health care so it won't matter.

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Ugh, great. I'll "save" actual medical supplies and contact information for medical professionals willing to work outside of the system for whatever I can barter with. At least that way I'll be able to triage immediate problems and hopefully avoid the 6+ month wait for any other medical care.

VoodooBoss said:

I'm using 529 plans for my kids. I went for the 70% stocks and 30% bonds fund instead of a target date fund and that has worked well for me. I'm considering moving it into 100% cash/bonds possibly later this year.

Click to expand...

Makes sense, I think.

Anyways, back to your regularly scheduled stock market posts.

I wish I did not agree on the medical. Folks like Chris and I put into the system, Military to get the coverage. With a single payer system everyone will. So, we can expect the military systems will go away and we will be stuck in a Broken single payer system. Dont think it will be broken? Look to our north.

I'm concerned they'll confiscate some (or all) of my savings to pay for such a system and there won't be anything I can do about it, and I know I'm not the only person of my generation to feel that way.

ChrisM said:

targeted funds

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Grant 302 does not like 'targeted funds'.

ChrisM said:

And wall of text hits you for 10000. Sorry.

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I think it's great to have a plan. And it looks like you know where you want to go.

I think a retirement plan can come down to two main numbers. The AGE you'd like to retire, and the INCOME you'd need at that age to live the way you want. The rest of the details can be calculated off of that, IMO.

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From a bullish perspective...not liking the price action for the day, but somewhat expecting it to lead another brief and shallow pullback on the way to test 27,000. If I'm wrong about that, it's a good place for a near-term top and the next low would come within a few weeks or so.

Hopefully, this morning's action is the extent of the brief pullback I mentioned yesterday. Most of the overnight Bears are likely to get squeezed through the day. Too early to call it.