What Did You Buy Today?

[fenders53]

(05-11-2021, 08:53 AM)divmenow Wrote:

(05-11-2021, 08:45 AM)EricL Wrote: I don't think we've seen anything yet regarding price drops in high flyers. Many of the high growth stocks are still in the stratosphere as far as valuation goes, and many were run up on playing the out of the money call option game, so there isn't really much solid fundamental support below them.

Stocks like those in streaming, the genomic sector, cloud computing, software, etc. are still trading at 20-30X revenues with no earnings. Keep in mind the massive leverage in the system as well. IIRC margin use is at an all-time high.

You get a fund or two (ARKK maybe) blow like Archegos did a month ago and it's all going to come crashing down hard.

Another day or two sell-off and Friday could get awfully interesting when margin calls go out.

If that's the case then why did you buy all those name like CRSP, and others near the highs if you knew they were over valued   I know you sold them, but you took losses on most and then went in those other names like ENPH at much higher levels. You have a itchy trigger finger just like me lol 

Of course there over valued. But you buy them for the future. At least ENPH is making money and I didn't buy at $220 lol. I can deal with $109 

And you know how I feel about ARKK. Will never buy her funds or ETF's. All she does is add the momo stocks and doesn't care at what price. Its the same names over and over again. Maybe one day she will catch the bottom

You tryin' to start a stock fight?  

If I take a loss this week it will be my Kathie fund. (ARK-G)  If I leave a position at a loss I need a place to put the money immediately that is down similar with a better narrative.  That won't be too hard to find today as I am only down 20%.   I can't be taking a loss and buying CAT shares lol.

And to end my week I get to roll some puts when I have a day off to deal with it.  All my real spec is in puts now as I sold some the past few weeks.  About 5 stocks.  Hey they looked cheap when I did it lol.  Where the hell is VBIN.  He owns a few of these beatdowns too lol.