Stocks

[rockgremlin]

Looks like Friday the 13th will open over 300 points higher. Hopefully we'll get a reprieve before sliding any further.

[dougr]

I've lost interest in food plays. Just not cheap enough to grab me. Unfortunately, the really enticing plays are all energy. I've got enough in energy and won't risk more concentration there.

I did put in a limit order for BML-G at $17.50, a Bank of America preferred floating rate. It's had some weird price action, yesterday around noon trading down to $17.85 in several transactions, and then trading up to $20.46 a few hours later. Thin float sometimes leads to odd pricing. Going to try to draw the ask down.

It has a floor yield of 3% on par of $25, and yields 4.3% at $17.50. No way will banks be "allowed" to go under, and these preferreds are therefore considered extremely safe. So the yield is decent for such safety. When calm returns, it, and the other similar BofA preferreds, should work their way back to $21 to $23 or so. This one less since most others have a floor of 4% on par.

These preferreds were single digit worthless in the 08 crash and rallied hard over the years. Were incredibly lucrative to be in. I keep going back to them when they sell off into the teens.

[oldno7]

Bought and sold VSTO a number of times in the last week.

It's been a great producer.

Was up over 8% yesterday while the dow crashed.

Up big again early this morning.

For a $5 stock it has wide daily swings.

[oldno7]

Just made another 7.6% on VSTO

In 1 1/2 hrs

[dougr]

https://www.advisorperspectives.com/...not-investment

That is the finest strategic market analysis I've ever read. In 12 years of hard core investing. I highly recommend reading that.

[dougr]

Just made another 7.6% on VSTO

In 1 1/2 hrs

Are you trading or holding?

[oldno7]

Are you trading or holding?

I hold mutual funds ( I have buy and sell signals for them)

I trade individual stocks, don't like holding over night but do on occassion.

[Iceaxe]

I just dumped $30k into stocks this morning.... if that doesn't cause the stock market to tank nothing will....



But low... Sell high....

[dougrz]

I just dumped $30k into stocks this morning.... if that doesn't cause the stock market to tank nothing will....



But low... Sell high....

Hilarious, good one. Hell of a morning to pick- the "Midaice touch" we'll call it.

Massive rally during Trump's press conference late. It was a Tour de Force, marshalling private industry and waiving laws. Market loved it. Could mark the low.

Or an explosion in spreading could make it a pause. No idea.

[rockgremlin]

Curious what Monday will bring. I could see it either being an extension of today's late rally or a pullback en route to the sub-20,000 range mid week.

It'll probably be the latter since Ice dropped a bunch of cash into the market.

[oldno7]

30,000 by July

[Iceaxe]

30,000 by July

I predicted when this first began that we'll be back over 28,000 by September and I'm still sticking to that.

FWIW - This is killing some companies like travel and is a bonanza to others like supermarkets.

[twotimer]

I just dumped $30k into stocks this morning.... if that doesn't cause the stock market to tank nothing will....



But low... Sell high....

Nice move...I'm going to put more than three times that amount in, maybe more.

I've got a list and will also be adding to it this weekend. If the futures look good very early Monday morning then I'll pull the trigger. I'll be investing in 10-15 stocks.

My strategy is to buy and hold...worked very well for me from '09-'15. I set a target price for each one when I'll consider selling...in other words, if I buy a stock at $5 and it rises to $8 I'll take a hard look at it...so some of these that I buy may only be in my portfolio for a week, others maybe a year or more.

There's a whole lot to choose from now...I would encourage even those who've never done this kind of thing to move some money to a brokerage house (like Schwab) and just go for it...start small if you're nervous, a few hundred or a few thousand. Buy and sell one or two stocks just to get the hang of it. Unless a really stupid move is made, you'll earn a lot more on that money than if it was sitting in a bank. MANY major companies are at a big discount right now...Wells Fargo, for example.

I believe as well that the market will shoot back up by thousands of points in the coming months...a lot of this easy money will dry up.

[dougrz]

You all are gutsier than I am. I will not put large amounts in for quite some time. Just too much risk of large numbers of infections driving fear higher, imo.

You might be rewarded handsomely making a bottom call now. I still suspect we're going 15k-ish on the djia.

[dougrz]

Every day brings news and thoughts. My current thinking is, fear and lockdown continues.

Until we see tens of thousands of cases and the (absolutely coming) tens of thousands of recoveries, fear will rise. As the trickle of recovery stories becomes a flood, the tide will turn.

Numbers out of Open Table are sobering. Massive drop off in restaurant traffic. We might see a domestic travel lockdown, which is going to bash us into a deep contraction for at least a quarter. I think we bottom in 4 to 6 weeks.

[BasinCruiser]

[twotimer]

You all are gutsier than I am. I will not put large amounts in for quite some time. Just too much risk of large numbers of infections driving fear higher, imo.

You might be rewarded handsomely making a bottom call now. I still suspect we're going 15k-ish on the djia.

Nah...I'll make the bottom call when I feel the time is right. It might be this Monday morning, or it could be weeks from now before I drop a single dime.

I was working today listening to the radio...a couple dudes that have a "market watch" program on Saturday mornings for an hour. They're financial advisors promoting their business but have some pretty good insights when they venture off script. One of them pointed out that when the market has a bad Monday, it ALWAYS rebounds on Tuesday.

Interesting to see what the next few weeks brings...but I'll tell you what, there's a lot of folks that are just itching to buy in, and when they do, I think it'll start moving upward again. I think it'll happen quick, too...like, within a week the money coming back in like that this big slide will be over.

[dougrz]

but I'll tell you what, there's a lot of folks that are just itching to buy in, and when they do, I think it'll start moving upward again. I think it'll happen quick, too...like, within a week the money coming back in like that this big slide will be over.

That's a key reason to not sell if you've already suffered losses. You easily miss the very early sharp updraft on recovery. Missing those gains greatly reduces your overall returns.

I'm still nibbling. I'll grab some small share counts next week.

[accadacca]

I’ve got a feeling it will come back quick. The economy had an awful lot of momentum, confidence and traction. It won’t be easy to keep it down. This is just my senses and gut feeling. Also my hope too.

"Buy when there's blood in the streets." -Warren Buffet

[twotimer]

"Buy when there's blood in the streets." -Warren Buffet

#Fart#...it was actually Baron Rothschild that came up with that one...many years ago.

Quite a coincidence that Trump's youngest in named Baron, eh?

Here's a good quote from Mr. Buffett..."It takes 20 years to build a good reputation and only 5 minutes to ruin it."

Great advice, hard to follow.