09-05-2020, 09:04 AM
(09-04-2020, 10:02 AM)stockguru Wrote: Wow that 70% cash I went into was a good move after all
But now the MMM's are stealing you shares and shaking the weak hands.
I jumped in a few shares of AAPL, added to LOW, SQ, ABBV and PEP.
Sold some puts as well and I'm in the money on most I purchased last week
Just adding to my top 10. Still am 65% cash
Some of the weak hands are margin calls. I was surprised (somewhat), to see the volume of posts around the net from people saying they were in trouble if the tech stocks didn't bounce yesterday. It's amazing that fools will put themselves in a position where a two day downturn gets you in that predicament. This pullback was just a warning shot compared to what will eventually happen to the high flyers. But for now I bet the market is back to the same foolishness within a month.