I've mostly been avoiding looking at my balances. I've bought some petroleum stocks. I'm not retiring for at least another 10 years. Are y'all just riding it down expecting it to come back in a couple of years?

This market reminds me of my favorite quote from Will Rogers during Prohibition.

Quote:

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Okies will vote for Prohibition as long as they can stagger to the polls.

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We will keep buying until we run out of money.

backing out the current / fwd PE - mr. market is saying we are due for a 30% 2nd qtr drop in GDP - followed by a yoy 8% 3rd qtr and small 4th qtr yoy decline.

- BUmma

What will the bottom be? Asking for a friend.

And with the Fed pumping money stocks may be the best bet with inflation - not for the faint of heart.

notbubbleboy said:

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What will the bottom be? Asking for a friend.

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When it gets there

If you want a reasonable perspective, go read/listen to Brian Wesbury with First Trust. I follow him on twitter and he is very level-headed. He thinks we finish the year in positive territory. He's very critical of the Fed and congress.

a bit NSFW, per ususal....

makes one wonder, is BitGod coming soon?

JesusCoin, VishnuCoin, etc.

- BUmma

BID.

Looks like we could have a trading halt at the open based on tonight's futures. The absolute fear that has been created in this nation is insane.

https://www.cnbc.com/pre-markets/

This is the week or next 10 days where we will be hearing about the dividend cuts we depended upon.

Last time I checked my stocks were down a ton. Decided it's best not to look as I know they will rebound at somepoint. I'm only 33 and these stocks for the long-term anyway so I am going to continue to treat it as such.

I just wish I was able to buy some stock while they are down. My wife is not working due to this so we are missing her paycheck. Money is tight so I can't afford to buy any at this time.

Unless you're desperate for cash and your only source is your portfolio, your only choice is to ride this out. I'm personally confident the turnaround will be at least reasonably swift when we get to the other side of this madness, but have no idea what the bottom is or when we're getting there.

Great time to refinance, however.

mr market turns his back to us and heads into a corner and apparently is doing something obscene.

yikes, MM.

DEVELOPING!

- BUmma

the stocks will rebound soon enough. Just have confidence. but be patient

now he's just opening exposing hisselfs.... no hint at any concealment.

brazen.

- mr market's observer

{ sipping triple espresso }

{ hitting buy button repeatedly }

{ sweating acrid pungent sweat }

insane?

PA.

You'll never know when you hit the bottom, but if you get out you'll miss some if the biggest bounce days back up. It comes in chunks - and fast. Heck look at last week.

And if you're in for the long haul you won't regret having bought S&P at 2300-2400. I don't think. At least I damn sure hope not. That's my bet in any event.

All the government spending has to eventually spur inflation. Equities are best for inf l.j ation.

SP500 already almost back to Jan 1 #s.

Seems highly priced right now in my unprofessional opinion, but didn't take long to bounce back. From 2300/2400 back to 3200+ in how many days? Maybe the best 50-60 days ever?

Those that bailed after the collapse were hurt badly. Those that bit the bullet and stayed the course have been rewarded handsomely.

MANSA

I've bought some gold stocks and looking at some silver juniors. They did quite well after the QE in the last financial crisis. I think we'll see a gold bull market in the next couple of years. Trick is knowing when to sell them.

WOW!

GhettoHEBear said:

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I've bought some gold stocks and looking at some silver juniors. They did quite well after the QE in the last financial crisis. I think we'll see a gold bull market in the next couple of years. Trick is knowing when to sell them.

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How you liking the gold and silver?

Anyone here have a positive experience with trading 0DTE options (zero days to expiration). I've dabbled away several thousand dollars over the past few years fiddling with mostly selling options. Thinking of learning a new way to lose.

all you need to know:

https://twitter.com/thestinkmarket

Robert Wilson said:

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You'll never know when you hit the bottom, but if you get out you'll miss some if the biggest bounce days back up. It comes in chunks - and fast. Heck look at last week.

And if you're in for the long haul you won't regret having bought S&P at 2300-2400. I don't think. At least I damn sure hope not. That's my bet in any event.

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Man, I hope you all bought in at 2300-2400. When is the last time you could get a broad-based market return like this in such a short period of time? (*no whammies*)

BellCountyBear said:

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I've mostly been avoiding looking at my balances. I've bought some petroleum stocks. I'm not retiring for at least another 10 years. Are y'all just riding it down expecting it to come back in a couple of years?

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I bought a LOT of an oil exploration company several weeks before the apocalypse. Like you, I avoided looking at the stock for months. I randomly decided to check it on 11 June and saw that, while it had fallen to next to nothing in March, it had bounced back to a higher price than when I bought it. Had I checked in April, it would have been quite disheartening. I just happened to check within two days of it's yearly high.

I've since bought a bunch of defense (including aerospace) stocks, hotel stocks and oil exploration, largely because these are all WAAAAAY undervalued right now. This is a man made down turn and these are all going to come back to their 2019 levels within 18-24 months, IMO, which means I will be well more than doubling my money in that time.

Be greedy when everyone else is scared.

Bearitto said:

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BellCountyBear said:

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I've mostly been avoiding looking at my balances. I've bought some petroleum stocks. I'm not retiring for at least another 10 years. Are y'all just riding it down expecting it to come back in a couple of years?

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I bought a LOT of an oil exploration company several weeks before the apocalypse. Like you, I avoided looking at the stock for months. I randomly decided to check it on 11 June and saw that, while it had fallen to next to nothing in March, it had bounced back to a higher price than when I bought it. Had I checked in April, it would have been quite disheartening. I just happened to check within two days of it's yearly high.

I've since bought a bunch of defense (including aerospace) stocks, hotel stocks and oil exploration, largely because these are all WAAAAAY undervalued right now. This is a man made down turn and these are all going to come back to their 2019 levels within 18-24 months, IMO, which means I will be well more than doubling my money in that time.

Be greedy when everyone else is scared.

---

Tend to agree. Staying long most of the FANG stocks here while slowly adding to some of my core holdings such as SMH and MGK on the way up. Nibbling on oil, oil services, financials, sin, and gaming stocks along the way for a few months now, too. Long WYNN, LVS, MO, LUV, MS, JPM, WFC, BAC, C, GS, DKNG, SLB, HAL, CVX, XOM, LMT and others. Recently started slowly adding to some of the Ark ETFs that I wish I had discovered sooner: ARKF, ARKG, ARKQ, ARKW. For longer term, recently became interested in DFND and LEAD - dividend ETFs. Your mileage may vary.

Still interested in 0-7 DTE options and the so-called "wheel strategy". Nearing retirement here, so looking for a transition in our portfolio to less risk and something that maybe makes money regardless of market direction. Good luck out there.

Curt, what trading platform do you use?

Quote:

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Be greedy when everyone else is scared.

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This is why I'm looking at oil stocks. They've gotten hammered lately.

You could have picked about any stock on any exchange in last week of March and made bundles. Too bad I didn't.

TellMeYouLoveMe said:

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Curt, what trading platform do you use?

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E Trade for equities and TastyWorks or ThinkOrSwim for options. TOS has some nice charting features. TW is options friendly, but not really geared to equities. I've been using E Trade for 20 years and it just feels familiar. Have everything set up for many years the way I want. Not really options friendly, hence TOS and TW.

TOS has a really slick feature called On Demand which allows you to use actual historic market data to "paper trade" in real time. Spent many hours on it over the weekend testing some 0 DTE trades. Results were encouraging. Finally setting up my first attempt at the wheel today. Sold an OTM put in INTC 4 days to expiration with the expectation that I will keep the premium and possibly own 100 shares if the price drops about 7% by Friday. If triggered, I'll own the stock and then probably look to sell calls against it. Rinse and repeat.

Nice!

I'll have to hit you up as I am digging into trading platforms quite a bit.

This is no longer the Buffett market where values matter. It is driven by momentum and if those FAANG's have cash flows and balance sheets it is to the moon in today's markets.

Big question is, should your money be invested in the market on 11/4/2020? Should Trump win in a landslide and the election be over, the market could have a Yuge one day and one week leap upwards. Should we have no winner and an indication that the election will drag out for weeks or months, we could see a Yuge collapse/ correction down. For now, I am leaning towards landslide for Trump and Americans deciding the world is not coming to an end after all. The best of times ahead of us.

Just my $.02 and opinion. What do you folks think?