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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.
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.
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(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.
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.
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.
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(09-04-2020, 11:35 AM)vbin Wrote: (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.
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.
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.
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.
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.
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Sold a QQQ strike 272.50 put. Expires next week, $442 premium. I'll call that my daring play for the week. Intended to sell a ROKU put but it bounced fast off the huge dip this AM. I can always chase it some other day.
Bought ORI at the dip today
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Sold VXX today and made a quick 6 points on it.
Sold out of DFS and rest of DE
Added AVGO and IIPR
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I added on AVGO, LOW, MSFT, BMY & ABBV within the past few days. Sold some MMM & SO.
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(09-04-2020, 10:02 AM)stockguru Wrote: Wow that 70% cash I went into was a good move after all 
But now the MMM's are stealing you shares and shaking the weak hands.
I jumped in a few shares of AAPL, added to LOW, SQ, ABBV and PEP.
Sold some puts as well and I'm in the money on most I purchased last week
Just adding to my top 10. Still am 65% cash
Some of the weak hands are margin calls. I was surprised (somewhat), to see the volume of posts around the net from people saying they were in trouble if the tech stocks didn't bounce yesterday. It's amazing that fools will put themselves in a position where a two day downturn gets you in that predicament. This pullback was just a warning shot compared to what will eventually happen to the high flyers. But for now I bet the market is back to the same foolishness within a month.
Over the Labor Day weekend we had to replace our stove and dishwasher. Got them from LOW (sorry Fenders). Took the old stove, dishwasher, and about a year's worth of cans collected to the scrap yard to get a total of $30. Used that to buy 1 share of VIAC this morning to add to what we already had. Good to get rid of scrap metal and turn it into a stock.
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09-08-2020, 10:25 AM
(This post was last modified: 09-08-2020, 10:26 AM by fenders53.)
(09-08-2020, 10:06 AM)ChadR Wrote: Over the Labor Day weekend we had to replace our stove and dishwasher. Got them from LOW (sorry Fenders). Took the old stove, dishwasher, and about a year's worth of cans collected to the scrap yard to get a total of $30. Used that to buy 1 share of VIAC this morning to add to what we already had. Good to get rid of scrap metal and turn it into a stock.
I'll try to forgive you Chad LOL. We always have appliance wars with Lowes on all the major holidays. My buddy mentioned something about selling about $2.5K per hour and we are a small store. Other departments are slowing down some so that's good. I used to love to scrap. I'm a car guy so it piled up and it used to bring very good money. It's weird that we are much greener now the recycle market prices are poor.
Sold some puts today........ V-KHC-KO-USB-DUK-DG. Most of them short term and out of the money so I may not get the shares unless the market dips more. This is going to be a record income month in any event.
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Sold a few more puts. CVS-ALE-WY
I've been out of CVS for awhile and shares are starting to look attractive to me.
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Sold another aapl, RTX put. I have been looking at CVS as well.
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