What I Am Buying Today.

[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.