npaden
Well-known member
I've still got a few bucks on the sideline and am thinking about moving some in today. Still thinking about selling it all and going away until after the election too! LOL.
Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
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SAJ-99
Well-known member
No economic trigger. Unemployment Claims were bad as usual, but every headline seems to focus to the trend getting just a tiny bit better. Mostly it is just coming up too far, too fast and valuations getting out of wack. Momentum cuts both ways, but we only closed at price last seen a week ago
. I don't see why investors wouldn't continue to favor tech and momentum, but tomorrow will tell. In the indexes, the first floor is the 50day MA which is about 5% lower from here. Another day like today should be bought - at least nibble. Find names you like and put in buy orders and see what happens. For those waiting for another epic selloff, I wouldn't hold my breath. Two FOMC members in interviews this week have indicated more action is on the way, and that was before today's selloff. I agree the economy stinks, but they are going to keep printing money and it has only one place to go - Stocks and RE.
ignorethefringes
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No economic trigger. Unemployment Claims were bad as usual, but every headline seems to focus to the trend getting just a tiny bit better. Mostly it is just coming up too far, too fast and valuations getting out of wack. Momentum cuts both ways, but we only closed at price last seen a week ago
For those waiting for another epic selloff, I wouldn't hold my breath. Two FOMC members in interviews this week have indicated more action is on the way, and that was before today's selloff. I agree the economy stinks, but they are going to keep printing money and it has only one place to go - Stocks and RE.
I agree 100%. and I hope lol. Final loss figure today was just over 12% for me.
D
Deleted member 40728
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That’s a good point. It’s easy to get overwhelmed by a sell off like today but the big picture hardly put a dent in most of the recent gains overall.Mostly it is just coming up too far, too fast and valuations getting out of wack. Momentum cuts both ways, but we only closed at price last seen a week ago
The VIX has been Steadily climbing for the past 2 weeks which was a good indicator that a day like today was possibly coming. Hopefully it’s just a small pullback and provides some more good opportunities to buy.
thatsjet
Well-known member
I'm buying the 11/20 gold options at current in the money prices. I expect the continued riots and craziness will pay off nicely in that regard. I'll probably dump them well before election day as once Mr. T wins again I believe they'll settle back down.
Irrelevant
Well-known member
Well the good news is that all that retirement I moved into bonds a month or two ago is going to make a killing when I put it back into stocks... but lets not talk about the loss of potential earnings during that time...
Addicting
Well-known member
Not horrible, only down $1250 for the day. I was fearing it was going to be much much worse. Hopefully, tomorrow it stabilizes.
NEWHunter
Well-known member
Futures are pointing to a slightly lower open tomorrow. . .
ignorethefringes
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I have a feeling some of my stop loss orders are going catch tomorrow
ignorethefringes
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Well, I wasn't wrong lol. I ended up pulling out of several positions. I don't want to fret over the long weekend. I'm ok if I miss out on some recovery today or Tuesday.
Irrelevant
Well-known member
I'm starting to see a pattern.
The more I elk hunt the less I think I know about elk.
The more time I spend with my wife the less I think I know about her.
The more I trade and follow the stock market, the less I realize I know about WTF is going on with stocks.
The more I elk hunt the less I think I know about elk.
The more time I spend with my wife the less I think I know about her.
The more I trade and follow the stock market, the less I realize I know about WTF is going on with stocks.
Irrelevant
Well-known member
Honestly, with a couple of quick moves I'm back to where I was... I'll take that as I W.
npaden
Well-known member
I did end up buying AMZN and MFST yesterday and I didn't time it perfectly but hopefully it stopped the bleeding for a bit.
My 13 year old son decided to buy some Walmart today with the new Walmart+ that is about to roll out so I picked up a few shares of it as well.
He has a small brokerage account that we talk through stock purchases on and his YTD return through August 31st was 139.63%!
Of course nearly all of that was on his APPL stock, he was 100% invested in it until the stock split and then he sold a couple shares of APPL to be able to afford to buy a single share of GOOG.
My 13 year old son decided to buy some Walmart today with the new Walmart+ that is about to roll out so I picked up a few shares of it as well.
He has a small brokerage account that we talk through stock purchases on and his YTD return through August 31st was 139.63%!
Of course nearly all of that was on his APPL stock, he was 100% invested in it until the stock split and then he sold a couple shares of APPL to be able to afford to buy a single share of GOOG.
Soon people will wake up and buy up high dividend stocks again. Tesla and Amazon with high PE and no dividend are long term duds and are for short term. I'm no pro but I also didn't lose much this week. I'm thinking big oil will make a decent profit and right now are bargain prices for high dividend stocks.
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Irrelevant
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It's just different, I don't think "wake up" is appropriate (though I would argue it never is). We just had an engineer retire at 44. TSLA going from 350 to 2300 is the last 6 months was a big part of that. AAPL has a dividend of <.5% but has arguably made more millionaires than any other company on the planet (unless you want to call the US Govt a company... and I mean that's not much of a stretch).
thatsjet
Well-known member
I don’t trust any of these companies enough to buy their stock. I’ll keep buying options on the volatility this craziness produces. I’m up 54% overall across eight trades in three months trading options one single stock (Barrick GOLD). I expect there will be plenty of volatility over the next few months to keep up the pattern.
ignorethefringes
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I'm thinking I'm going to be pretty thankful for this. Looks like we're going to see another slide today.
PE down to 904.00 today. Still a joke. No thanks
