(04-25-2019, 07:57 PM)NilesMike Wrote:(04-25-2019, 07:44 PM)fenders53 Wrote: MMM is going lower. I want some eventually. I wrote puts against it numerous times for nice profits. Lucky I didn't get stuck with 100 shares. There was no way I WAS going long at 190 a few months ago with their soft outlook.
I got in some years ago around 170. My cost basis is significantly lower than that. Short term? I have no clue on it at the moment.
It's an excellent company I've waited a long time to buy. They have been issuing cautious guidance for quite a few quarters. That's a good thing IMO. I don't want to be lied to because they could have talked me into going all in at the wrong time. Not sure if I will nibble soon, or take a chance and sell puts. If I get assigned I could always try to dump half the shares quick and wait for the next recession to fill it out. I don't have any doubt it will return to fair value then. It's a beloved stock. I said I think it's going lower, but I will be pleasantly surprised if it goes low enough with a trade deal looming and a decent economy. But that was a huge miss. I haven't read the report yet.