03-15-2020, 08:20 PM
(03-15-2020, 06:51 PM)fenders53 Wrote:(03-13-2020, 09:51 PM)crimsonghost747 Wrote: Damn, you guys have been busy.
I've been riding out this armageddon on a paradise island. It's been a blast: sea, sun, +1200m elevation hike to the top of a volcano, cheap beer, good food. Not a worry in the world!
Unfortunately there are a million things going on with my life at the moment so I haven't had much time to keep up with the market properly. Thankfully I now have the weekend to sort out what I've actually done and what I should do next week haha.
Also did something for the first time ever with stocks: I bought with a mobile app. I didn't have my laptop so I had to improvise! It's a pain but hey, I managed to add to RTN, TD, BIP and HON on Thursday.
Dividend Dragon asked about buy levels.
For me, I look at the S&P500.
My plan says to make additional purchases when the S&P500 is trading around
2750
2600
2500
2425
2350
2000
I'm not actually sure if I got all of the 2600 level money in, I know I didn't get any of the 2500.
So here is to hoping we go all the way to 2000!
(03-15-2020, 04:48 PM)divmenow Wrote: Breaking - Federal Reserve cuts rates to zero and launches $700 billion quantitive easing program.
Futures are down 800 points right now on the news. I want to add a few utilities tomorrow.
These sectors should do well when rates are lowered are .
Gold
Utilities
Drugs
Reits
Oil
Infrastructure
High dividends
Small caps
BREAKING: 8 of the biggest U.S. banks say they will suspend share buybacks though Q2 of 2020. The banks are: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street & Wells Fargo.
Red,Red,Red!!!
I don't know that it will do any good now, but the market has about all the rocket fuel it could ever hope for to bounce quickly when the flu begins to subside.
If times were normal what you said is correct This is far from normal and I would go slow. I sold my heath care ETF on Thursday. Not that I wanted to lighten up. Figured if I sucked my thumb a couple days I might get a chance to move it to individual stocks and increase my entry yield. My covered calls expired so I am almost hedgeless now unfortunately. I think I'll regret it if I sell new ones down here. It's going to be another interesting week. I'll probably re-arrange a few more chairs on the Titanic port if it makes sense.
I think you're right on that one. I sold and bought back my covered call on PENN about 5 times since I bought it. I'm almost flat on it despite the price being down significantly.