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Sold out of AAPL, WMT, FB, HD, and a lot of other names this morning.
I just have this strong feeling the bubble is about to burst. I just cant justify these levels anymore and I'm taking my money and running lol. Best year ever and I want to keep it that way lol
I will be keeping cash on hand. And no Fenders I'm not spending it on Monday 
Utilities are on my radar but they have to get a bit cheaper before I add more.
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(08-28-2020, 10:38 AM)divmenow Wrote: Sold out of AAPL, WMT, FB, HD, and a lot of other names this morning.
I just have this strong feeling the bubble is about to burst. I just cant justify these levels anymore and I'm taking my money and running lol. Best year ever and I want to keep it that way lol
I will be keeping cash on hand. And no Fenders I'm not spending it on Monday
Utilities are on my radar but they have to get a bit cheaper before I add more.
I hear you. I have the same thoughts. I too think this bubble is about to burst. I trimmed some positions the last few days. Holding and waiting for the next slide
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What catalyst do you see on the immediate horizon for this to end?
The Fed just said yesterday that they will support the markets to obtain 2%+ inflation.
COVID cases and hospitalizations are dropping again, Abbot came out with improved testing, and the health system continues to improve treatments for the disease.
I completely agree that valuations are absurd, but markets don't fall because of valuations.
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08-28-2020, 11:51 AM
(This post was last modified: 08-28-2020, 11:53 AM by divmenow.)
(08-28-2020, 11:05 AM)EricL Wrote: What catalyst do you see on the immediate horizon for this to end?
The Fed just said yesterday that they will support the markets to obtain 2%+ inflation.
COVID cases and hospitalizations are dropping again, Abbot came out with improved testing, and the health system continues to improve treatments for the disease.
I completely agree that valuations are absurd, but markets don't fall because of valuations.
That's exactly why we are in trouble because of the fed lol. The fed can't keep bailing us out and pumping up the market. And that's indeed what they are doing. Just look at all the insider selling to buys. Its at a 20-1 clip. And these are CEO selling.
More Business will be going bankrupt, restaurants wont survive with only 30% capacity, and retailers cant even get merchandise in. The Fed is making it seem like nothing is wring and things are rosey. But I got news for you. Its not all its cracked up to be. The bad is coming soon 
In March the market was way over sold and they threw everything out but the kitchen sink. Now things are way over valued. You have to meet somewhere in the middle.
And ABT news is no big deal. Those are just $5 kits to see if you have covid-19 not a cure for it. It will be at least another year away or kore until we get a vaccine and I just have this feeling come fall it will all hit us like a brick again. I'm in the market to make money. But at these levels it's going to be very hard to make money on the long side. People are going to be reluctant to go out for a long time. In my hometown there are deaths from the covid-19 daily. This is not going way any time soon. Its like we all just forgot about how bad things can still get. Not over by a long shot.
And the biggest factor will be China and the election. Too much uncertainty and no one seems to care about the problems in the near future. And that normally spells disaster.
Sorry if I sound bearish.... I'm just stating my feeling. I just have that feeling like I did back in Feb when we crashed
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(08-28-2020, 10:38 AM)divmenow Wrote: Sold out of AAPL, WMT, FB, HD, and a lot of other names this morning.
I just have this strong feeling the bubble is about to burst. I just cant justify these levels anymore and I'm taking my money and running lol. Best year ever and I want to keep it that way lol
I will be keeping cash on hand. And no Fenders I'm not spending it on Monday
Utilities are on my radar but they have to get a bit cheaper before I add more.
I'm tired of your lies. 
All the best to you. Glad you had a great year. You'll be back buying soon enough. What else would you do with your life if you weren't here hanging out with us daily buying over valued stocks?
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(08-28-2020, 11:05 AM)EricL Wrote: What catalyst do you see on the immediate horizon for this to end?
The Fed just said yesterday that they will support the markets to obtain 2%+ inflation.
COVID cases and hospitalizations are dropping again, Abbot came out with improved testing, and the health system continues to improve treatments for the disease.
I completely agree that valuations are absurd, but markets don't fall because of valuations.
The Abbott hype sounded great. Done any research on how much money they make selling kits for $5? And the stock flies for a day. The vaccination story not much different with companies committing to no price gouging. This is a casino and anyone not in denial knows it. I continue to stay vested, but plenty of cash because I'll be sick if I can't take advantage of a big dip any fool knows is coming. This year, next year? We can't know? It's not different in the end. Stocks at ATH with earnings at 2017 levels.
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Got lucky with a few spec plays in ROKU, FSLY and GNRC. Playing a little conservative until we get a pullback. Just sold a short-term DLTR put with a very nice premium. Another TLT put as well. Have next to no bond exposure so OK with getting exercised at a better price than today. An HRL put as well since KO ran a little and need a conservative replacement.
When I joined this forum I started an income basket for my age 60-61 days when some of my pensions have not kicked in yet. Goal was $100K funded strictly with DIVs and 40% of my option sale premiums. That money is sent to an ultra boring/ ultra short-term bond fund. I am $3100 short of goal with 25 months til I need it. After that I can buy higher growth stuff with my weekly/monthly income for a few years. I am all about the basket strategy.
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(08-28-2020, 12:04 PM)fenders53 Wrote: (08-28-2020, 11:05 AM)EricL Wrote: What catalyst do you see on the immediate horizon for this to end?
The Fed just said yesterday that they will support the markets to obtain 2%+ inflation.
COVID cases and hospitalizations are dropping again, Abbot came out with improved testing, and the health system continues to improve treatments for the disease.
I completely agree that valuations are absurd, but markets don't fall because of valuations.
The Abbott hype sounded great. Done any research on how much money they make selling kits for $5? And the stock flies for a day. The vaccination story not much different with companies committing to no price gouging. This is a casino and anyone not in denial knows it. I continue to stay vested, but plenty of cash because I'll be sick if I can't take advantage of a big dip any fool knows is coming. This year, next year? We can't know? It's not different in the end. Stocks at ATH with earnings at 2017 levels.
I think there's going to be a lot of great buying opportunities to come. I have just gone in small of late. Waiting for that big downturn to come to go in bigger
My BIGC short at $155 is looking good so far . I'm just going to play that side of the market and sell outs for a while through Dec. If i get filled, i get filled.
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I think most all of us are playing it some. This could go on for years but I don't think so. Buying most anything the past year has mostly worked out. That's how bubbles work, and we are getting real close to a bubble. You gotta have something left for a downturn, no matter how bad it feels missing out because you have some cash.
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(08-28-2020, 10:46 AM)stockguru Wrote: (08-28-2020, 10:38 AM)divmenow Wrote: Sold out of AAPL, WMT, FB, HD, and a lot of other names this morning.
I just have this strong feeling the bubble is about to burst. I just cant justify these levels anymore and I'm taking my money and running lol. Best year ever and I want to keep it that way lol
I will be keeping cash on hand. And no Fenders I'm not spending it on Monday
Utilities are on my radar but they have to get a bit cheaper before I add more.
I hear you. I have the same thoughts. I too think this bubble is about to burst. I trimmed some positions the last few days. Holding and waiting for the next slide
I had that same thought but missed out on about 5 percent of a run up. I've been looking at putting money into an equal weight fund to minimize my exposure to the big tech bubble makers.
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My gawd....what the HELL
Buy a QUALITY company
At a REASONABLE price
Look for that DIVIDEND
And NEVER SELL
So many companies have treated me very well, I'd have a heart attack if I sold Apple stock. My buddy has been trying to get me to sell for years and years and years and buy back later? Guess who has several hundred shares and who has none?
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(08-30-2020, 12:43 AM)rayray Wrote: My gawd....what the HELL
Buy a QUALITY company
At a REASONABLE price
Look for that DIVIDEND
And NEVER SELL
So many companies have treated me very well, I'd have a heart attack if I sold Apple stock. My buddy has been trying to get me to sell for years and years and years and buy back later? Guess who has several hundred shares and who has none?
All this time I thought you were Warren Buffett incognito. Guess not because he has been selling quite a bit this year.
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