Tuesday, September 30, 2008

Judy's Trip To The Bank

After the almost reckless profits I've made in the last couple of weeks, it was time to get paid and deposit the money in the bank.

In normal times, I'd just take the full amount and throw it into my savings, or put a portion of it in a CD. I have enough market risk each day, so my daytrading profits go largely to cash, not back into the market.

Anyway, I told Judy to take about 10% of the money out, in cash. A decent sum. In addition, I told her to get a safe-deposit box, and put the lions-share of that money into the box.

She told me that as she instructed the teller of her plans that there was lots of murmuring behind the counter and that people were looking at her like she was "crazy."

Naturally, I wish I could have been there to get more detail.

Anyway, next week I'll discuss buying bars of gold. After that, I'll move the discussion over to purchasing firearms.

In other words, I think this bounce will fade eventually... maybe even by the end of the day.

4 comments:

Pete said...

ever read "Pit Bull" by Marty Buzz Schwartz? similar story back in the 80's instructing his wife to go get gold and put in safety deposit box.

Dinosaur Trader said...

Ha, no. That's something I should check out though... I've heard many people mention it before.

Wow, crude just popped.

-DT

Bluedog said...

I think the market will go higher. But I'd still buy a Glock anyway. :D

Complacent Panda said...

VIX and More has an interesting article about going long the SPX as the VIX makes a new high.

Even though it looks like a good deal, I'd still hedge with some gold buried in my back yard (what are you doing putting it into the enemy's hands?) and a well oiled, fully automatic, sub machine gun.