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re: What stocks we buying during this sell off?

Posted on 3/6/20 at 8:13 am to
Posted by bayoubengals88
LA
Member since Sep 2007
23503 posts
Posted on 3/6/20 at 8:13 am to
BA is just hemorrhaging billions per day.
Posted by LSUneaux
Metairie and MAGA AF
Member since Mar 2014
4793 posts
Posted on 3/6/20 at 8:24 am to
You want worse timing? I bought NFLX yesterday at $390 when I thought this so-called virus-proof stock was trending up. I just wanted to get to $393 and sell (daytrade).
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 3/6/20 at 8:27 am to
quote:

BA is just hemorrhaging billions per day.


Yep. Looks like my 252.5 short put will already be tested at the open. Looks like I’ll need to roll that one.
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 9:13 am to
quote:

Bought a ton of OXY today at $29.80


Just dipped below $28
Posted by 632627
LA
Member since Dec 2011
14680 posts
Posted on 3/6/20 at 9:41 am to
How safe is oxy dividend???
Posted by bayoubengals88
LA
Member since Sep 2007
23503 posts
Posted on 3/6/20 at 9:50 am to
quote:

How safe is oxy dividend???

paid out 257% to cover.

Should be good for the next ex div date in a few days though, huh?
Posted by Athletix
Member since Dec 2012
5135 posts
Posted on 3/6/20 at 10:31 am to
Sold my small Uber stake. Market still got me shook. Doesn’t feel like a bottom yet. When we buying cruise line stocks??
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 10:46 am to
I read earlier another 25% drop is possible. Watching CCL but not getting excited yet.

JPM and BAC both down ~5%. Near ready to add to BAC position and hop on JPM.

Airlines got a little shot in the arm but still watching JBLU, might’ve missed it. Got some DAL yesterday.

XOM getting a little attractive to me long-term.
Posted by jerryc436
Franklin
Member since Jan 2014
589 posts
Posted on 3/6/20 at 10:56 am to
I have moved my limit order on BA from 325 to 225. Limit order filled on XOM, MRO and CCL this morning. Investing not trading on these. Feel I bought at sale prices so I guess we will see.
Posted by cuyahoga tiger
NE Ohio via Tangipahoa
Member since Nov 2011
6111 posts
Posted on 3/6/20 at 10:57 am to
Added to my BAC position just now at $25.74
And initiated position on JPM at $107.., this one could be $160 by years end .... or
This post was edited on 3/6/20 at 11:02 am
Posted by Capt ST
High Plains
Member since Aug 2011
13496 posts
Posted on 3/6/20 at 11:07 am to
quote:

Just dipped below $28


Well I bought in yesterday at 31.36. One day I'm down almost 12%.
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 11:20 am to
quote:

Added to my BAC position just now at $25.74
And initiated position on JPM at $107


Got BAC at $25.66 and JPM at 106.79. I’m satisfied today.
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 11:25 am to
CCL down another 3.5% today.
Posted by 632627
LA
Member since Dec 2011
14680 posts
Posted on 3/6/20 at 11:43 am to
Should I go with VFH (vanguard financials etf) or just individual banks for long term investment?
Posted by bayoubengals88
LA
Member since Sep 2007
23503 posts
Posted on 3/6/20 at 11:49 am to
quote:

Should I go with VFH (vanguard financials etf) or just individual banks for long term investment?

It totally depends on your risk tolerance. I like these banks.

JPM
BAC
BOH
BNS
This post was edited on 3/6/20 at 11:50 am
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 11:50 am to
Really just a matter of preference, activity, and risk tolerance. VFH is solid but I’m picking and choosing while the getting is good.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135671 posts
Posted on 3/6/20 at 11:54 am to
quote:

I read earlier another 25% drop is possible.
Couple of thoughts.

(1) By the end of next week the CDC will FINALLY have enough tests distributed to begin effective contact screening. That is key to beating the virus. We should see CV numbers rapidly rise over the ensuing 7-10 days d/t to accelerated screening. That is a good thing, regardless of how it is reported. My guess is we will see CV numbers peak, stabilize, and start to fall by the end of the month.

(2) Foreign markets, including the EEM (the most COVID-19 at risk group), have outperformed US indices over the past month. So either those markets are overbought, or US markets are oversold. Pick your poison.

(3) There seems to be common consensus among money houses (UBS, BAC, JPM, etc) that the Corona crash is a temporary hit, no recession, and we will recover in the back half.

Obviously, folks predicting another 20-30% drop could be right, but none of the above align with that kind of prediction.
This post was edited on 3/6/20 at 11:56 am
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 12:01 pm to
Sorry, I should have clarified that 25% pertains to cruise lines specifically in my mind. And the chatter was that they were overbought ahead of any CV fears.

I agree with you.
Posted by Athletix
Member since Dec 2012
5135 posts
Posted on 3/6/20 at 12:02 pm to
I agree with your post except for
quote:

stabilize, and start to fall by the end of the month.

I only say that because, how are we going to stop the spread? By testing it will slow the spread down some, but our society won’t comply with a full on lock down like China put forth. The testing may bring an initial shock factor, but if we test 100s of thousands and discover the mortality rate is much much lower than 2%, then maybe we just go on with life and deal with it. I don’t think the US will stop the spread, not without help from warmer weather or a vaccine.
Posted by AmosMosesAndTwins
Lake Charles
Member since Apr 2010
19013 posts
Posted on 3/6/20 at 12:09 pm to
I mean I think we are minimizing exposure as best we can from a precautionary standpoint. Employers, educators, and healthcare professionals illustrate that. Our population centers bode far better than places like China, or Italy, for example.
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