What Did You Buy Today?

[fenders53]

(05-26-2020, 09:38 AM)EricL Wrote:

(05-26-2020, 09:25 AM)fenders53 Wrote: DE running significantly higher is absolute insanity.  If anybody owns it I have a link from my local newspaper you should read.  I live near DE world HQ.  I am about to short them again.  I am undefeated at that game.  The market defies logic.

I agree, but I've been wrong on DE many times in the past.

Farm country is in really, really rough shape right now between years of bad weather, trade wars, and food supply disruption with the pandemic. I don't see a quick turnaround for DE earnings.

The DE engineers I pal around with are smart guys, and next to clueless in the financial markets.  When they start getting giddy I know I better get ready to short.  I about beg them to trust me and just sell a couple hundred shares for a few months or so.    I don't do straight up shorts as I prefer to have 100% control of my downside risk.  I am 5-0 in the past year lol.  DE cuts their revenue estimates every 60 days or so.  Layoffs are coming.  The stock is 30%+ overvalued.  Lord help them if the US gets too aggressive and blows up the PH 1 trade deal.  I only have one long share of DE left lol.  I'll jump in long for real when reality sets in.  I just need a reasonable price I won't regret for 5 years.  DE is about as cyclical as it gets and farmers are scared to buy expensive equipment, as they should be.  Mining and construction industry isn't any less risky for a year or two.