Thread Rating:
  • 3 Vote(s) - 4.67 Average
  • 1
  • 2
  • 3
  • 4
  • 5
What Did You Buy Today?
I actually bought a mini MMM position today.
Reply
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.
Reply
(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.
Reply
(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.
Reply
(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.

I have an initial package from 2016 for 146 and now this at 190. The entry yield is 3% which historically is high, but the operational metrics don't make it a bargain yet. If it drops more I buy more, if not, well, I won't be saf with the price appreciation Smile
Reply
Started INGR
Reply
Sold a share of AMZN. I add one or two every $100 it dips, sell it gradually when it runs. I'm a small time AMZN trader for sure but it's working. About 2% of my port. I'll likely get serious about it if the market ever corrects.
Reply
Added to UPS this morning.
Reply
Added to WFC this morning.
Reply
Added to LEG
Reply




Users browsing this thread: 12 Guest(s)