[Coronita]

So I have a dumb question. I have about $65k left on a rental, and the last time I tried to refinance, I couldn’t because the loan amount was too small and or I could ha e to pay an extra .25% with additional cost.

Since property value has increased significantly…What if I were to cash out refinance $150k, at a rate .875% lower and then immediately pay off $85k. I am wondering if my remaining loan balance would end up being lower, since essentially for the extra $85k I borrowed I would pay only about one month worth of interest

[Coronita]

[quote=PCinSD][quote=njtosd][quote=harvey]

Can you find all the hate crimes committed in this poster?

I got to six and had to stop because I was overwhelmed with despair.

Such a horrible injustice inflicted on people of color.[/quote]

By the Red Cross? http://wjla.com/news/nation-world/american-red-cross-apologizes-for-pool-safety-poster-featuring-not-cool-black-kids

There’s a difference between stupidity and a hate crime.[/quote]

I’m not seeing the problem here. According to the article: “all the “not cool” rule-breakers appear to be people of color”.

That’s a flat out lie. There’s 5 “not cool” instances:

1. Top right is a very white guy with sunglasses holding a glass bottle. Obviously, no glass is allowed at the pool. Last I checked white people weren’t considered people of color. Where’s the outrage? Misclassifying a person like that. That’s racist!

2. Top left are 2 boys running. One white, one black with a arrow pointing between them. Obviously, you aren’t allowed to run around the pool. The arrow doesn’t single out the person of color, but both the boys who are running. The white boy isn’t a person of color. Oh, and they showed the black boy ahead of him in that foot race. That’s racist!

3. Left of center appears to be a black boy diving into the pool. No diving? Not sure. So what.

4. Right of center is a kid who appears to be drowning? He looks like a dude with a tan, not a black kid. Same with the kid in the foreground.

5. Bottom, right. Looks like a black girl pushing a white girl into the pool. Obviously frowned upon. Racist? Of course not. Unless you see racism in everything.

Finally, I heard some nonsense about blacks are being stereotyped as not able to swim. The lifeguard on the right is black.

Should the Red Cross have known people would find a way to make it racist? Of course.[/quote]

Well I am offended. There is no asian representation in this cartoon. What is Red Cross thinking? Do they think us Asians never use the pool because we are too busy studying all the time?

[Coronita]

I am out of UDOW and AMD and BAC

[Coronita]

[quote=SK in CV][quote=flu]Platinum at 1002
Silver at 18.32
Gold at 1320[/quote]

At the moment, one of those things is not like the other. Silver at its 52 week high that it hasn’t been close to before now. Gold just fell off its 52 week high that it wasn’t close to before the end of last weekend.

Pl not even close to its 52 week high, and has been higher, even substantially higher 4 times this year, and began the year much higher than it is now. It may return to being correlated though that’s unlikely. It’s not going to catch up.

None of them trade related to their utility value. They are fiats. And Platinum, not a very good one. And I suspect the non-correlative behavior of Pl will get worse, because of significantly greater supply deltas as compared to either gold or silver.[/quote]

Did not know that….I thought PI was more supply constrained than gold or silver since it’s only mined produced in a few countries, and because it’s also used in the automotive sector as an industrial metail for emission systems…Maybe I’m wrong about that.

[Coronita]

Platinum at 1002
Silver at 18.32
Gold at 1320

[Coronita]

[quote=livinincali]UDOW isn’t really designed to be a longer term holding. It’s better for short term trend trades because there’s some built in decay. For example UDOW peaked in May 2015, but the DOW itself recently hit a higher high in Apr 2016. UDOW failed to reach it’s previous peak. You’re probably better off with DIA or an index fund if you’re planing to hold for longer than a month or two.[/quote]

None of the leveraged etfs are for long term holds….

[Coronita]

Here’s what I bought. I’ll probably get screwed..

1 UDOW
2. T and VZ
3. GE
4. MAT mattel
5. VNQ vanguard REIT ETF
6. OIL
7. BAC Bank of America
8. AXP American Express
9. MO Phillip Morris
10. XLP Consumer Staples ETF
11. XLE Energy ETF
12. Moved money into Vanguard total stock market and vanguard index 500 funds…

Most are dividend paying, some are beaten down sectors, some are pure gambles like BAC and AXP…lol…

Conveniently absent: tech stocks,lol

I’m think fed raising rates is probably off the table for the rest of the year. I’d like to think this will motivate people to go dividend hunting.

[Coronita]

[quote=SK in CV]According to someone I know, the market is pricing in a $140 move in the S&P for the week and is likely to close this Friday $70 up or down from it’s close from last Friday.[/quote]

Interesting. I hope that’s the case….

[Coronita]

http://www.kitco.com/

gold up $18, platinum up $5, silver up 0.14…

Me thinks metal, particularly gold, is getting way over speculated. It doesn’t make sense anymore…..

Nikkei futures up 300, Dow -70, S&P -9

Part of me thinks BrExit isn’t going to happen. They’re going to revote, and some of the youngsters are going to get off their butts and vote this time around…

[Coronita]

For me, I think I’m at a point in life in which if I do something stupid, its far more damaging that not taking the risk. Granted, it’s unlikely I would ever lose my home, but I don’t want to open that up to the possibility. I figure buying a new home and starting over has less risk that mucking around with my first primary. So if all else fails, there’s always something else to fall back on. The only thing is that I can’t bring myself to opening a checkbook to a home that costs $1.3m-ish…I don’t think that would even get me into a good Pardee tract home home right now (which isn’t necessarily something I particularly want, but….)…Some of the homes in Pardee community in Sorrento Heights costs more than I paid for my home in Carmel V…So, it’s just crazy out there right now.

https://www.redfin.com/CA/San-Diego/11024-Fall-Crest-Way-92126/home/40948067

And no one else is really selling in that area….

[Coronita]

[quote=zk]Donald Trump isn’t eligible to be president because he’s a foreign, illegal alien, immigrant bitch.

Discuss.[/quote]

Thanks a lot ZK..:)

[Coronita]

[quote=SK in CV][quote=flu]Just curious, do you have examples of the kind of seminars where you learn this stuff? I’m not sure I would do it, but as anything, there’s a lot of seminars that really aren’t seminars, and there are ones that are actually useful I guess. I’m just trying to understand how to spot the legitimate seminars from the ones that are like Trump University/Robert Kiyosaki), when ends up being an informercial and “training” that consists of trying to buy more training…(No I’ve never spent money on these classes, but did get a few free dinners out of them for just showing up a long long time ago)[/quote]

Go here:

https://www.tastytrade.com/tt/learn

Now that I’m not working, I listen to Tom Sosnoff almost every morning from 5 to 8:30 They do tons of research, and know their shit. I’ve seen them present a few times, usually in conjunction with TD/Ameritrade Market Drive events. (Not a whole lot of selling stuff either.) So do the TD guys. I use their TOS platform (which Sosnoff developed and sold to Ameritrade for jillion dollars) to trade.[/quote]

Merci! Look into it when I have free time….

[Coronita]

[quote=SK in CV][quote=flu]SK. Is the purpose of rolling the option contract because you make more money from the option premimum in the new options that expire much later versus the option premium left on the existing contract that you will close early?

[/quote]

Yes. With option spreads as I’ve described, there’s a defined risk, but there’s also a smaller defined profit. For securities I continue to want to own, I roll it each month. If it gets too pricey, I move on to something else. (I wasn’t interested in AAPL at $110, but I’ve had positions on since it went to the low 90s) I’d be lying if I said I’m anything more than a novice. For me, closing trades with 50% of max profit is the goal. Or roll it to the next month if the price/premium is still attractive. Occasionally, trades will go my way and it’ll be more than that. When I’ve tried to eek out that last few bucks I’ve gotten into trouble, owning things I never wanted. Next month I’ll probably do some earnings trades, which I haven’t had much time to do the last 4 or 5 earnings seasons.

It’s taken a long time and very fortunately, not cost too much money, learning how to do it, lots of seminars and videos. I just finished an 18 month full time working gig and am just getting back into it. My wife probably averages 10 trades a day. (Her 1099 last year was 399 pages long in her trading account. It came in a box.) She might have 60 different open option trades at a time. She scans for things with high volatility, knows when to get in and out, and trades all kinds of things I don’t understand. She also trades futures (which I rarely do, other than SPX futures). She used to trade forex, but can’t anymore. Surprisingly, her total risk capital in her trading account is pretty low.[/quote]

Thanks for the info…I know what you mean. Every single time I tried to eek out an extra buck or two on anything I did, I just ended up a total disaster…lol…

Just curious, do you have examples of the kind of seminars where you learn this stuff? I’m not sure I would do it, but as anything, there’s a lot of seminars that really aren’t seminars, and there are ones that are actually useful I guess. I’m just trying to understand how to spot the legitimate seminars from the ones that are like Trump University/Robert Kiyosaki), when ends up being an informercial and “training” that consists of trying to buy more training…(No I’ve never spent money on these classes, but did get a few free dinners out of them for just showing up a long long time ago)

[Coronita]

[quote=AN][quote=flu][quote=AN][quote=flu]I envy you guys. I wish I had a home worth taking a 30year out on right now…[/quote]Cash out refi?[/quote]

You’re killing me and mocking me at the same time, lol…..

I’m an old man now… And old fart… I’m expecting my AARP card in the mail anyday now, and I think I should go shop for an oldsmobile. The thought of having another 30 years to go….Dude….I’m going to be eating out of a straw…

No sir, only going to happen with another home purchase….I can’t find anything good though. Rental or Primary…[/quote]I don’t get it. If you’re OK with buying a new home now with a loan, then why not do a cash out refinance? Isn’t that essentially the same?[/quote]

No it isn’t. If something unexpected happens, if I take on a new loan on a new place, I can walk away from it and still live in the old place…

If I cash out refi on my old place and use it to pay for the new place, I stand to lose both places, since it is unlikely a cash out of the old place will complately pay for the new place.

Also, a cash-out is typically limited to 75% of equity….Versus 20% is available on a new place…I’m half serious about trying to put the bare minimum on the new place…

[Coronita]

[quote=zk][quote=flu][quote=zk]Well played, flu. Little flu gets a life lesson and a laugh. Man, sometimes being a Dad is great, isn’t it? Happy Father’s Day![/quote]

I’m not so sure… The lesson is “the customer is always right, no matter how unreasonable?”

It’s actually quite interesting though. My daughter thought the person was being completely unreasonable. But, I never taught her to think that way. It made me wonder where do people learn where to draw the line? I mean, to some people, this was outrageous, to others I’m suspecting otherwise….[/quote]

I meant kind of the opposite. That, even though “the customer is always right” is the mantra of many a retail outlet, and even though the customer might be treated as though they’re right, the customer is, in fact, not always right. Sometimes they’re just ignorant douchebags. I thought your “suggestion” that she go up there and say what you said to say sort of illustrated that, yes, that particular customer was a loser and, at the same time, gave you guys a laugh.[/quote]

Got it… I was worried she was going to take me seriously when I said that. Glad she had the reaction she did.

[Author]

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