What I Am Buying Today.

[fenders53]

(06-28-2022, 02:21 PM)divmenow Wrote:

(06-28-2022, 08:49 AM)MrFortune Wrote: Sold out of a lot names this morning. I'm now 40% cash and will wait for better entries.

Looks like that was a smart move. Market lost 600 points since you sold

I can see another 15% or so correction from here. Nothing has changed to have made the market go up in recent week. The shorts will take control again.  And agree oil is probably the best place to be while the market sorts it all out.

It's been a stair step down.  Down 2500, up 1000, down 1500, up 1000.....  Every rally not quite good enough.

[fenders53]

(06-28-2022, 11:32 AM)poneyboy Wrote: 2 shares of HD. I'm slowly going in lol

It's getting closer to my buy back in range.  Glad you went slow.  I was still working PT when HD hit about 430 and the Covid sugar high was starting to fade.  I knew it would end bad.

[cemanuel]

This morning I'll begin setting $65 BBY LBOs. This is a tax play as I have a full position already. I have some shares bought earlier this year in the 90s so my plan is to buy, wait 31 days, then sell an equivalent value of higher-priced shares at a loss.

I don't have a lot of these opportunities in my taxable account but once I make the sale I'll look for other companies I can do something similar with.

I also need to turn drip off on my BBY in my Roth - been caught by wash sale rules there before, not that it amounts to a lot.

Why $65? It's a level that I set a while back and I'm confident it will reach. Will it go to $60? Probably; I don't think the bear market ends for a while but while I want to be greedy I don't want to get too greedy plus with 31-day intervals I need to start sometime to get as many of these in as possible before things turn.

I also doubt it gets to $65 today but it's getting close enough for me to start setting the orders.

[fenders53]

(06-29-2022, 07:07 AM)cemanuel Wrote: This morning I'll begin setting $65 BBY LBOs. This is a tax play as I have a full position already. I have some shares bought earlier this year in the 90s so my plan is to buy, wait 31 days, then sell an equivalent value of higher-priced shares at a loss.

I don't have a lot of these opportunities in my taxable account but once I make the sale I'll look for other companies I can do something similar with.

I also need to turn drip off on my BBY in my Roth - been caught by wash sale rules there before, not that it amounts to a lot.

Why $65? It's a level that I set a while back and I'm confident it will reach. Will it go to $60? Probably; I don't think the bear market ends for a while but while I want to be greedy I don't want to get too greedy plus with 31-day intervals I need to start sometime to get as many of these in as possible before things turn.

I also doubt it gets to $65 today but it's getting close enough for me to start setting the orders.

Sounds like a good plan.  BBY is probably destined for the low 60's anyway so your order should execute.  I am trying to decide when to finish the last third of my BBY position.  I started more recently so I might get my average below 70.  That will have to do.  The dividend is sweet down here.  I suspect it will be Christmas before we like the share prices, if not next year.

[poneyboy]

Bought CCL. I know this will take time but at $9 you can make money.

[poneyboy]

(06-29-2022, 06:29 AM)fenders53 Wrote:

(06-28-2022, 09:45 AM)Mr1share Wrote:

(06-28-2022, 09:34 AM)fenders53 Wrote:

(06-28-2022, 08:49 AM)MrFortune Wrote: Sold out of a lot names this morning. I'm now 40% cash and will wait for better entries.

We may or may not run up a little more, but there is a pretty good chance that's not a terrible decision.  Earnings start soon and I'm sure there will be enough bad news to create opportunity.  It only takes a few of the blue chips in a couple different sectors to wreck the mood.

Just look at NKE. Over valued and Cramer pumped it this morning lol. It's now down $4

Still way over valued. This is a $80 stock at best

Buy it if it gets near there.  NKE has a tendency to trade overvalued for a long time now.  That brand just won't die.  I only swing trade it though.  We've seen it hit PE 70 more than once the past five years.  That is nutty and I am out when that happens.

Nike's price-to-earnings ratio (FWD) is approximately 32x, which is more than double the consumer discretionary sector median of ~12.5x. The firm's EV/EBITDA and P/CF are also showing a similar trend and indicating that Nike is trading at a significant premium compared to its peers.
We understand that Nike is a growing company and its strategic shift to direct-to-consumer sales may result in expanding margins; however, we believe that such a significant premium is not justified. Further, we expect several macroeconomic factors in the near future to create headwinds for Nike's business in the near term.

[Marknew]

Added DE, COP and ITW

[divmenow]

New position in CCL. At $8.40 its now at a all time low and cheaper then when covid hit lol . That MS downgrade told me we are near a bottom. I cruise every year on Carnival

Added COP as well

[ChadR]

Initial position in GOODN (preferred stock). Added to LOW, O, ONL, and SBUX.

[divmenow]

Who's buying SHOP at $32. I see it spit. I had on my watch list and was like wow this one really fell off the cliff

[fenders53]

(06-29-2022, 08:43 AM)poneyboy Wrote:

(06-29-2022, 06:29 AM)fenders53 Wrote:

(06-28-2022, 09:45 AM)Mr1share Wrote:

(06-28-2022, 09:34 AM)fenders53 Wrote:

(06-28-2022, 08:49 AM)MrFortune Wrote: Sold out of a lot names this morning. I'm now 40% cash and will wait for better entries.

We may or may not run up a little more, but there is a pretty good chance that's not a terrible decision.  Earnings start soon and I'm sure there will be enough bad news to create opportunity.  It only takes a few of the blue chips in a couple different sectors to wreck the mood.

Just look at NKE. Over valued and Cramer pumped it this morning lol. It's now down $4

Still way over valued. This is a $80 stock at best

Buy it if it gets near there.  NKE has a tendency to trade overvalued for a long time now.  That brand just won't die.  I only swing trade it though.  We've seen it hit PE 70 more than once the past five years.  That is nutty and I am out when that happens.

Nike's price-to-earnings ratio (FWD) is approximately 32x, which is more than double the consumer discretionary sector median of ~12.5x. The firm's EV/EBITDA and P/CF are also showing a similar trend and indicating that Nike is trading at a significant premium compared to its peers.
We understand that Nike is a growing company and its strategic shift to direct-to-consumer sales may result in expanding margins; however, we believe that such a significant premium is not justified. Further, we expect several macroeconomic factors in the near future to create headwinds for Nike's business in the near term.

I definitely own mostly value but NKE has been ignoring articles like this for five years.  I have never lost money buying dips.  If it goes a lot lower I will be on it. Rinse and repeat.  Pick whatever PE you we like but the market doesn't care when they ramp sales just a little. Maybe it's a year from now? I am not buying now so it doesn't matter. We'll die of old age waiting for a sector valuation.

[fenders53]

(06-29-2022, 10:02 AM)divmenow Wrote: New position in CCL. At $8.40 its now at a all time low and cheaper then when covid hit lol . That MS downgrade told me we are near a bottom. I cruise every year on Carnival

Added COP as well

I am sure are aware CCL is pretty much fighting to remain solvent.  The Robinhood kids are broke so they may not be able to come in for the save. Be careful with this one. I would sell any bounce and do some DD.