NEWHunter
Well-known member
Well, I closed out that small position I initiated yesterday with a small gain. Decided I’m going to wait it out a bit longer.
Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
Irrelevant
Well-known member
I've been lazy. Thankfully so.
MThuntr
Well-known member
I'm moving some around but I don't have a lot of liquidity to make a big move. Maxed my TSP out this week.
What did you buy??
rjthehunter
Well-known member
CODX, MRNA, COE.
COE has just continuously been going up. CODX has been developing a Coronavirus Test. Any pharma companies doing anything with Coronavirus seems to be climbing. There's going to be a point where they drop, a small drop happened today, but hopefully keeps climbing for a few more days, then I'll pull out put it towards a spotting scope fund lol.
In again on day three of blood letting , i been dollar cost averaging my buy sheet. I also added to a handfull of holdings that been taking a cold bath with that felt where undervalued bringing my avg price down a bit.
I also put into play some moves for an emergency in case things go really south.
The one thing i am not seeing in all this is a good hedge. I am holding weak inverse ETF, because my thinking has been if i need more I am over exposed and should take cards off the table. What scares me more than anything is i cant wrap my head around a soild hedge that makes practical sense. I am not laughing at though of buying respiratory masks..
I also put into play some moves for an emergency in case things go really south.
The one thing i am not seeing in all this is a good hedge. I am holding weak inverse ETF, because my thinking has been if i need more I am over exposed and should take cards off the table. What scares me more than anything is i cant wrap my head around a soild hedge that makes practical sense. I am not laughing at though of buying respiratory masks..
Last edited:
SAJ-99
Well-known member
There never is a good hedge in a liquidity driven sell off except treasuries. I put some cash to work today in the IRA and got kicked in the teeth. Tomorrow may be tough given traders will lighten up going into the weekend. The news flow isn’t going to get much better in the near term. I’m all-in if SPX goes to 2750. I doubt it gets there.
SAJ-99
Well-known member
Wow. You play a different game than me. Congrats. My view is they can’t find a drugs to limit the common cold, so I get very suspicious of any talk of a vax or treatments.
I must have been editing while you were quoting me. I was thinking i didnt express myself well, hence the edit.
Below is a better example of my position. I cant help but thinking i am like 6 moves behind playing Bobby Fisher....
" The one thing i am not seeing in all this is a good hedge. I am holding weak inverse ETF, because my thinking has been if i need more I am over exposed and should take cards off the table. What scares me more than anything is i cant wrap my head around a soild hedge that makes practical sense. I am not laughing at though of buying respiratory masks.."
I agree on this. I also quickly looked up all those tickers and may or may not have gotten long one of them
My FIL runs a small brokerage and they primarily are in Bonds - I just transferred a small wad of wife’s cash to him. It is unlikely to be the last time the next year or two.
If I had more balls, I’d be short several companies looking at substantial short term Supply problems. Sadly, the handful I am aware of are clients of our firm and we are heavily restricted from taking any position in many of them so mostly I am adding small amounts to proven winners and watching the show trying not to be nervous.
rjthehunter
Well-known member
I agree, but I try to think like the more optimistic people who think these companies are going to find a magic cure for it. The one company that's creating a test kit is what I think will be the best one yet. It's on its way to be tested on humans now who have the disease. So there's talk of whether it's going to work or not. If it does, stock will skyrocket, if it doesn't work, their stock will tank... If I had the time to do more research, I would. But for now I'm gonna just play it till I get a gut feeling then jump off.
I used to play with penny stocks, those are fun but scary to play with. You can make a lot of money really quickly, but you can lose money even quicker!
They have had vaccines for decades for Coronavirus. Dogs have been getting it for a long time, but it is a different strain so it will not work on humans but there is no doubt they can do it because it has been done already. A couple stocks I have been keeping an eye on and one I have owned is BP. It took a beating and they are supposedly done with the payoff for the gulf spill this fall. Current DIV is over 7%
I was looking at Sunoco, it has taken a beating but paying almost an 11% DIV. I really just don't think millions of petro cars are going to vanish that fast and be replaced by battery power.
Cash is sometimes the best hedge...
Man no kidding. The old saying is to buy when there is blood in the streets. Sure feels like the streets are awfully bloody right now.
SAJ-99
Well-known member
A lot of people hold cash waiting for a correction and then get one but can't stomach putting it to work. If you feel a little nauseous hitting the buy button, that is probably a good time. Just don't look at the market for 3 months after, because you probably didn't buy at the bottom.
NEWHunter
Well-known member
Hopefully this improves my odds in the special draw for WY pronghorn in a couple of months
I have been stockpiling cash to buy my Dad out of his shares of our company, so he can retire. I finally sat down and talked with our Morgan Stanley guy about how just holding all this cash is foolish... I invested a couple hundred grand last week, "playing it conservative".... sure doesn't feel too conservative now. I sure miss having all my cash just sitting in an account doing nothing! Good luck to all.
