09-04-2020, 12:09 PM
(09-04-2020, 11:35 AM)vbin Wrote:They indeed will write books about 2019 to year??? when this comes undone. Who knows when this ends? I am genuinely happy if anyone here dives in and grabs some tech shares 10% off. I'll likely do the same in great moderation. It will require 5 years of perfect execution for some of these companies to be worth what the stock sells for today. It's just a bad bet if you are going to buy and hold. Many lessons will be relearned soon enough.(09-04-2020, 11:31 AM)fenders53 Wrote: It's been a very good week to be defensive. Port is down 1% the past few days and I am calling that a "risk adjusted" win.150%? That's great value compared to Tesla's PE of ~1100. That too after the fed and central govt rebates. Musk should really thank China for letting him do business almost tax free and giving him loan for the factory and then not taking much equity in Tesla's chinese business. Books will be written about what we are witnessing.
Sold a lot of put contracts today with very good premiums due to rise in the VIX. "Had to" because I haven't had any new income this week, but still in boring stuff that dropped with the market like NEM-GOLD-SLV-WBA-BMY. Those can be fipped to tech if this market dives for real. Techs are only good for a trade here on this baby dip.
Would have grabbed some spec/tech puts but just couldn't type fast enough to catch them low enough. I think I will just add a few shares to my stocks that dropped since yesterday. My wild guess is I am 35% cash. Hope I get a chance to get more money in the market soon but I am not going to chase stocks with PEs 150% of historical. Most anything good is there and I'm not biting. Said I wouldn't touch retail but might sell a DG or DLTR put. That's been working for me and the dip is nice enough.
Some of the conservative DGI stocks are not much better value. Revenues have dropped to years ago levels and the market pretends it's not happening. It's different now lol.