What Did You Buy Today?

[fenders53]

(10-30-2020, 09:56 AM)divmenow Wrote:

(10-30-2020, 09:41 AM)fenders53 Wrote:

(10-29-2020, 09:11 PM)EricL Wrote: I'm no chartist, but I'd agree that the NOC chart doesn't look good at all.

Failed to rise above $350 multiple times and now looks like it broke support under $300.

And this is why I mentioned up front the chart is clearly broken.  I knew somebody would bust my chops.  Should I just go buy an industrial with a PE 50% above historical PE and a YOY revenue drop?   All major defense stock charts look like this right now.  Should give me some time to accumulate if I decide to buy NOC.

Agreed they all look horrible. But they did back in March and April too lol. But charts mean nothing to me. A stock can recover and stock can fall even if a chart looks great or not. Charts don't tell the whole story. Especially when a market is collapsing. They can spring back in a heartbeat. This is short term and I think months and years out. All I know is that NOC is a bargains here. And bargains are hard to pass up. So I bought 25 shares of NOC to start off with   

If you buy 2 shares who cares if you buy in at $268 0r $260 LOL.

Charts are a picture of market sentiment to me, and that sentiment won't likely change in a week.  I will buy or sell anyway, but I have learned to show them some respect.  If the chart is crap and a 100 or 10 share purchase is a big deal to YOUR port, then you should only be buying 25 or 2 shares today. 

For now I am in my slow mode because the market is threatening to drop hard.  A couple random shares of all my stocks that are at least somewhat beaten up for no particular good reason.  It's a good day to put in limit orders and try to pick up a few shares here and there.  I don't even have to think hard about that.  $300 worth of a blue chip on a dip is rarely a terrible decision.  I'd rather be selling puts because that's my normal thing, but 100 share commitment in one stock a few days before an election is a helluva lot more risky than spreading out the money.

Buy 'em when they hate them, but go slow until you know how bad they are hated. Same with oil. Picking up some XOM today may be the best or stupidest decision you make this year.