(04-07-2020, 11:12 AM)stockguru Wrote:BA is not a horrible idea. You know I am always full of "sage" advice because I'm old and had a chance to screw everything up at least once by now lol.(04-07-2020, 10:53 AM)divmenow Wrote:(04-07-2020, 10:35 AM)fenders53 Wrote:(04-07-2020, 09:21 AM)fenders53 Wrote: It's been amazing to watch. I will buy an economy on the way up, but absolutely not one very clearly on the way down. Almost all of the "great buys" are an illusion. I won't chase stocks that have bounced 20% in a week for no economic reason. Few stocks are good deals now, they just happen to be cheaper than they were when they were over-priced barely a month ago. Nothing good happened since then. I trimmed some more this morning. I entered this with too much cash and bought big time on the way down, so taking a few profits. I still own about 45 stocks and I still like most of them long-term. I refuse to believe at least some of them won't give me a very good entry point if I show a little restraint. I have a ton of long shares and always will. I am fine no matter which way the market goes short term.
As always I appreciate the back and forth debate. I learn more from those who challenge my thoughts. I'd like to think it makes us less likely to walk off the cliff like a bunch of sheep. The long-term DGI thing still works if you watch your valuations. The rest is noise in the end. Or blah,blah,blah and Guru likes to say lol.
(04-07-2020, 09:52 AM)divmenow Wrote:I still miss her. It's getting hard to trade this market without her sassy mouth telling me I am too bearish everyday.(04-07-2020, 09:21 AM)fenders53 Wrote: It's been amazing to watch. I will buy an economy on the way up, but absolutely not one very clearly on the way down. Almost all of the "great buys" are an illusion. I won't chase stocks that have bounced 20% in a week for no economic reason. Few stocks are good deals now, they just happen to be cheaper than they were when they were over-priced barely a month ago. Nothing good happened since then. I trimmed some more this morning. I entered this with too much cash and bought big time on the way down, so taking a few profits. I still own about 45 stocks and I still like most of them long-term. I refuse to believe at least some of them won't give me a very good entry point if I show a little restraint. I have a ton of long shares and always will. I am fine no matter which way the market goes short term.
As always I appreciate the back and forth debate. I learn more from those who challenge my thoughts. I'd like to think it makes us less likely to walk off the cliff like a bunch of sheep. The long-term DGI thing still works if you watch your valuations. The rest is noise in the end. Or blah,blah,blah and Guru likes to say lol.
Well no one listens to Guru anyway so lol
Her PII watch turned out to be a good trade this week. I bet she sat on her little bull hands and never pulled the trigger.
Her PII and VFC picks were both good ones. But like you said she probably took the dog for a walk and forgot once she took that baggy out to clean up its mess
Guru you got anymore picks??... What ever you mention this time I'm going to buy. They don't call you the Guru for nothing
You guys are hilarious hahahaha!! Glad your having fun at my expense
What do you think about buying a put in BA? I see it going back to $125 and that would give me the option to buy it make a profit in it with the option. Good choice Fenders?? I want to try it out for my first time
Options are a game of statistics, so I am almost always the seller. Your gut does matter in spite of the stats. When I buy one here are the rules I try to abide by.
-Don't get locked in on one stock to "short" and force a trade. Pick about 5 and follow them so you have some clue what to expect. It requires some serious self control to win often enough to make it worth it. Make one of those 5 stocks come to you.
-Find stocks with no real chance of fixing their problem over night. (BA highly qualifies along with 500 other stocks). Fake Twitter good news is your risk here. Buy the put after some of that BS comes out twice a week and spikes the stock. You need to catch a stock on an up day.
-Bet small the first few times. Call it tuition money. Maybe short a volatile stock and boring stock and watch how they work. Implied volatility drives option premiums so you are going to pay a little too much no matter what in this volatile market.
-Never ever short a market darling no matter how overvalued. Pick on the current weaklings. Shorting, TSLA, or some tech high flyer is insane even if they are losing money. There are always much easier targets.
All that said, yeah I'd short BA when it runs. It will cost some money but just in case give yourself a month to be right when you pick the expiration date. If you think you can be right in a week consistently you will lose soon enough, and too often.
I used the word short repeatedly. Buy a put, don't short. You probably knew what I meant but you are in reality shorting when you buy a put.