What I Am Buying Today.

[fenders53]

Nibbled some XEL, ALE and BMY so far. Not making the same mistake I made during Covid crash and getting too aggressive without a real drip. Not that I am expecting a hard dip but the market is picking off a longer list of stocks every day. Seems to me 10-20 stocks are holding up the indexes currently.

[MikeWa]

Added to BMY

[NilesMike]

(09-16-2021, 09:56 AM)fenders53 Wrote:

(09-15-2021, 12:10 PM)fenders53 Wrote: Entered orders to sell all my equity mutuals at the close.  SPY, Midcap and Russell 2K.  This makes me nervous but the plan is to get them into ETFs tomorrow. I hate that I can't add to my mutuals on hard down days so that is the motivation to make the move.  Fees are basically the same.

Caught a break and sold on a decent up day.  Sold near the money puts in SPY and IWM today.  Not sure if I should jump into the ETFs all at once or average in.  It's a coin flip so I sold the puts expiring tomorrow while I contemplate it since it is a lot of money.  I'll grab some "free" shares of XEL today with the premiums.  I get to keep those if the market launches higher and leaves me behind.

"All in" has been statistically proven superior to averaging in, just sayin'.

[rayray]

added to JNJ

started a small position in SAM

[fenders53]

Mike

Take a look at that IWM chart. It won't be hard to see where I am trying to enter. It's been annoying watching my long shares stuck in that channel so long but swing trading on the side has been about as easy as it gets. I definitely want all my long shares in soon. It will break out eventually.

[ken-do-nim]

I'm wondering if today will represent a bottom for pharma/biotech, and thus be a good day for me to get back into JNJ and add onto LLY and ABBV.

Edit: Wish I had more of a cash position...

[NilesMike]

(09-17-2021, 12:21 AM)fenders53 Wrote: Mike

Take a look at that IWM chart. It won't be hard to see where I am trying to enter. It's been annoying watching my long shares stuck in that channel so long but swing trading on the side has been about as easy as it gets. I definitely want all my long shares in soon. It will break out eventually.

I didn't mean to imply just buy now.
I meant to go all in when it suits you, i.e. puts assigned. Don't sell a portion and another and another at different times unless you never get assigned (a high class problem-LOL)

[fenders53]

(09-17-2021, 06:36 AM)ken-do-nim Wrote: I'm wondering if today will represent a bottom for pharma/biotech, and thus be a good day for me to get back into JNJ and add onto LLY and ABBV.

Edit: Wish I had more of a cash position..s

It's hard to say but they are cheaper than they were.  Politicians will be targeting them soon.  If I had to guess I would say JNJ and ABBV are closer to a bottom just because they have lower valuations. 

And this is why I always kept a little dry powder after age 40.  Market hasn't even dipped but even in a bull market there are always a few opportunities a year to get some 20% off stocks.

[MrFortune]

(09-17-2021, 07:39 AM)fenders53 Wrote:

(09-17-2021, 06:36 AM)ken-do-nim Wrote: I'm wondering if today will represent a bottom for pharma/biotech, and thus be a good day for me to get back into JNJ and add onto LLY and ABBV.

Edit: Wish I had more of a cash position..s

It's hard to say but they are cheaper than they were.  Politicians will be targeting them soon.  If I had to guess I would say JNJ and ABBV are closer to a bottom just because they have lower valuations. 

And this is why I always kept a little dry powder after age 40.  Market hasn't even dipped but even in a bull market there are always a few opportunities a year to get some 20% off stocks.

The market might not have dipped according to you but certain sectors have been beaten up badly. So don't just base it off the index. Just saying

I can name 100's of stocks that haven't seen these kind of lows in 6 months or more. Lots of good buying opps out there. 

I added more XEL, MED, BMY, HRL, LMT GOLD and CCI

[Genester]

Does anyone have a point of view on Fortescue Metals Group Limited (FSUGY)? This is a $30B+ mining conglomerate that ran up quite a bit and is now giving up most of this runup... By all accounts a solid business with a strong dividend, but I've not seen a lot of research on them.

[fenders53]

(09-17-2021, 09:20 AM)MrFortune Wrote:

(09-17-2021, 07:39 AM)fenders53 Wrote:

(09-17-2021, 06:36 AM)ken-do-nim Wrote: I'm wondering if today will represent a bottom for pharma/biotech, and thus be a good day for me to get back into JNJ and add onto LLY and ABBV.

Edit: Wish I had more of a cash position..s

It's hard to say but they are cheaper than they were.  Politicians will be targeting them soon.  If I had to guess I would say JNJ and ABBV are closer to a bottom just because they have lower valuations. 

And this is why I always kept a little dry powder after age 40.  Market hasn't even dipped but even in a bull market there are always a few opportunities a year to get some 20% off stocks.

The market might not have dipped according to you but certain sectors have been beaten up badly. So don't just base it off the index. Just saying

I can name 100's of stocks that haven't seen these kind of lows in 6 months or more. Lots of good buying opps out there. 

I added more XEL, MED, BMY, HRL, LMT GOLD and CCI

Sissy correction   You've been around long enough to know what a real market correction looks like. We are spoiled and this isn't even close.

It's a pretty solid beatdown for some sectors.  It could get a helluva lot worse if the market actually corrects.  Pharma and utility beatdown don't scare me because it's a good place to park cash fairly defensively.  I find the industrials and transports worrisome.  Never mind the share price as most of them are still nothing like a steal yet.  Earnings will be exciting. We are going to find out who is good at logistics or not with all the supply chain and inflation problems.

Added some XEL and ALE so far. Still going slow though.  I am going to ignore my gold positions so I don't get sucked into the knife.

[fenders53]

(09-17-2021, 09:38 AM)Genester Wrote: Does anyone have a point of view on Fortescue Metals Group Limited (FSUGY)? This is a $30B+ mining conglomerate that ran up quite a bit and is now giving up most of this runup... By all accounts a solid business with a strong dividend, but I've not seen a lot of research on them.

Buy commodities when they are lower than you ever dreamed possible.  Or do it like I often do and repeatedly struggle to make a profit.  Depends what they are mining and I am not familiar with the ticker.