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Sounds too much to me like Nobody expects the Spanish Inquisition.
Sounds similar to tRUMP in the US handing responsibility to Governors. Then lambasting them for their handling of the outbreak.
Thanks Elroy. I don't need another Island. Have 2 already and the maintenance cost is very high. Trying to get a good hot dog is impossible, let alone a good pizza slice. But thanks though for the tip.
Thanks SF,
Basically that's what I did. Once I saw volume on a downturn I'm out. There'll be other opportunities. AMZM will hopefully but not definitely be one of them. I'm sharpening up my trading tools for another downturn, which by my estimation was due today. Okay, so not so much. Thanks again for your help. I'm grateful. It's always easy to dread the premature sale or the hold while watching and waiting for an up or down move. Just have to move on and look for other opportunities. I have many stocks that are on the cusp of sales. Whether I want to wait for a higher return or just a 2% Nick special, I don't know.
Some others have been bogging down my portfolios for a while, some may never recover. No dividends, no price performance. Those will be dealt with as time goes on. So it's important for me to keep on top with cash and buying/selling opportunities.
IRM is a good short candidate according to a funds manager on CNBC a little while ago.
On the other hand:
Tech Stocks Are Getting Pricey. Here Are 12 Stocks Still Worth Buying -- and 1 to Short. -- Barrons.com
5/8/20 5:14 PM ET (Dow Jones)Print
By Eric J. Savitz
It's hard to be shocked in this environment, but tech is still managing to deliver surprises. After a rip-roaring 30% rally over the last six weeks, the Nasdaq Composite has wiped out all of its 2020 losses. Through Friday's close, the tech-heavy index is up 1.7% on the year.
At least 20 million Americans have lost their jobs amid the worst economic decline since the Great Depression and yet the Nasdaq is within spitting distance of its February all-time high.
The rally reflects an increased certainty that Covid-19 is reshaping the economy in lasting ways that will benefit broad swaths of the tech sector. It starts with the five megacaps -- Microsoft (ticker: MSFT), Amazon.com (AMZN), Apple (AAPL), Facebook (FB), and Alphabet (GOOGL). As we've noted, the companies should all exit the crisis stronger than they went in. But there is more to the story:
E-commerce is on fire, and it goes well beyond Amazon. Big year-to-date gainers include Wayfair (W), the home furnishings retailer; Etsy (ETSY), which sells handcrafted products; Shopify (SHOP), which powers thousands of retailers; and online pet product seller Chewy (CHWY). Expect some lasting gains.
Cloud computing is having a big moment. "We've seen two years' worth of digital transformation in two months," Microsoft CEO Satya Nadella said recently. The winners here go beyond Zoom Video Communications (ZM). Okta (OKTA), and DocuSign (DOCU) last week hit record highs. Fastly (FSLY) shares spiked 46% on Thursday alone, as the content delivery network posted better-than-expected financial results. Twilio (TWLO), which provides online communications tools to many companies, jumped 40% last week on strong first-quarter results. Other cloud plays with fat year-to-date gains include Citrix Systems (CTXS), RingCentral (RNG), and Cloudflare (NET).
We're not just working from home. We're doing everything at home. Chegg (CHGG) is benefiting from the learning-from-home trend. Blue Apron Holdings (APRN) has seen a spike in demand for its meal-prep kits. Netflix (NFLX) had more than twice the number of net new subscribers than originally expected. Peloton Interactive (PTON) revenues are soaring as people shift to exercising at home.
Things could be worse: Until last week, ride-sharing companies Uber Technologies (UBER) and Lyft (LYFT) lagged behind the Nasdaq -- for good reason. Their ride volumes have collapsed, with U.S. air travel down as much as 95% and knowledge workers working from home.
Last week, however, both stocks spiked amid signs of stabilizing trends. Uber said that U.S. bookings, while down 80% year-over-year, were improving the last four weeks running. That news comes a week after better-than-expected commentary about online advertising from both Alphabet and Facebook.
The problem now for investors is that many tech trades are getting crowded -- and not just the 128% year-to-date gain in Zoom Video stock.
We asked a few of our favorite tech investors for stocks still worth buying.
Dan Niles, founder and portfolio manager for the Satori Fund, a tech-focused hedge fund, is taking a three-pronged approach to a market he considers overpriced.
Niles holds a handful of stocks that he views as sustained winners from the pandemic, including Amazon, Activision Blizzard (ATVI), and Teladoc Health (TDOC).
He's also been shopping for damaged goods, picking up shares of both Walt Disney (DIS) and ViacomCBS (VIAC), on the theory that they should recover in the long run -- and get a boost for their streaming video operations in the short run.
Niles is also bullish on DraftKings (DKNG), which he thinks will benefit as states turn to sports gambling to boost revenues coming out of the downturn. Niles is short highflying enterprise software stocks. And he recently shorted Apple -- Niles is no believer in the 5G iPhone supercycle.
Paul Wick, who has run the Columbia Seligman Communications and Information Fund for 30 years, is bullish on semiconductor-equipment stocks. He thinks recent concerns about export restrictions to China are overblown and advises buying Lam Research (LRCX), Applied Materials (AMAT), and Teradyne (TER).
Wick remains bullish on chips, too. Micron Technology (MU), he says, benefits from rising prices for flash memory. He thinks Micron could generate earnings of $1 per share in its May quarter, well above Wall Street's consensus forecast of 56 cents.
He also likes Western Digital (WDC). "WD isn't a player in the tough mobile NAND business," he says. "They're mostly in enterprise solid-state drives, which is more stable. And they are doing well in enterprise hard drives, with a very stable duopoly" with Seagate Technology (STX).
Western Digital recently suspended its dividend, announcing plans to redirect cash to pay down debt. Wick notes that some investors don't like the strategy, but he thinks WD could earn $7 to $9 a share in calendar 2021, implying a current price to earnings multiple of just five times, well below the stock's five-year average P/E of nine.
HP Inc. (HPQ) is down more than 25% this year after Xerox Holdings (XRX) abandoned its long-shot takeover bid. But as Wick notes, HP has pledged to buy back $15 billion of its stock over the next three years -- 70% of the current market value -- including $8 billion in the first 12 months after the company's annual meeting on Tuesday.
Let the buybacks begin!
Write to Eric J. Savitz at eric.savitz@barrons.com
(END) Dow Jones Newswires
May 08, 2020 17:14 ET (21:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Closed EQH on 05/08/2020 @ 18.12. In an IRA portfolio. A profitable long term hold. Net return info not available right now.
Will look for a re-entry point on this.
The NYC Deferred Comp plan segment that was invested in the Vanguard 500 Index equity fund account has prospered. Up 30 or so percent since March. That portion of my portfolio is up 12.8%. A blend of money market and index 500.
The entire NYC portfolio is up over 1% this year.
As always, thank you for your insights Nick. I agree with your assessment. Still kicking myself for the quick sale of AMZN against my better judgement. But what's done is done. A profit is a profit. I'm doing a lot of rebuilding and just don't believe in incurring further long term stock liabilities. If my stock liabilities become assets, I'll sell hopefully in a timely way.
We'll see...
7 Best Cheap Stocks To Buy Or Sell
2:25 pm ET May 8, 2020 (Benzinga) Print
Stocks that trade under $5 per share are often referred to as penny stocks. Many penny stocks trade for literal pennies (or less) on the OTC market, but there are plenty of penny stocks that trade on major exchanges as well.
The Nasdaq and NYSE require all stocks listed on their exchanges to maintain a minimum share price of $1 or risk being delisted. Most companies do not want their shares trading under $5, so there’s a good chance the large majority of penny stocks have been through some tough times. But that doesn’t mean there are no penny stock buying opportunities as well.
Here are eight penny stocks to buy, hold and sell, according to Bank of America.
Lloyds Banking Group PLC (NYSE: LYG) - Sell
Lloyds Banking Group has a market cap of more than $100 billion and is one of the largest banks in the UK, but you wouldn’t know it by its $1.50 stock price. Lloyds shares are down another 53% in the past year as the bank struggles to deal with historically low interest rates.
Analyst Rohith Chandra-Rajan recently said Lloyds’ first quarter numbers were bad across the board, but given income and credit quality pressures, things could get even worse in the second quarter. For now, Lloyds has adequate capital, but the company’s revenue outlook will have to significantly improve before the stock is investable, Chandra-Rajan said.
Bank of America has an Underperform rating and $1.28 price target for LYG stock.
See Also: 11 Reasons Billionaire Investor Leon Cooperman Is Worried About Long-Term Impacts Of COVID-19
Nokia Oyj (NYSE: NOK) - Buy
Nokia is a telecom network infrastructure equipment supplier. The stock is down 29.3% in the past year, but analyst Tal Liani recently said the company’s first-quarter numbers were solid.
Looking ahead, Liani said 5G demand should ramp up in the second half of the year, and Nokia has significant opportunities to improve its margins and turn around its slumping business. In the first quarter, Networks gross margins were up 3.5% from a year ago to above 30%. Liani said Nokia is far from a growth story given sales will likely be down 3.4% in 2020, but the stock has self-help upside potential.
Bank of America has a Buy rating and $4.80 price target for NOK stock.
Ford Motor Company (NYSE: F) - Buy
Ford shares have spent most of the last six weeks trading right around $5. The global auto industry has been decimated by the coronavirus outbreak.
Ford reported a $2 billion first-quarter loss and guided for another $5 billion loss in the second quarter. However, analyst John Murphy said Ford has done a good job in shoring up its balance sheet by drawing $15.4 billion on its revolving credit facility and raising $8 billion via an unsecured senior notes offering. Murphy said Ford will likely emerge from the economic downturn a stronger company, and the economic pressures have likely hastened Ford’s restructuring and cost-cutting efforts.
Bank of America has a Buy rating and $7 price target for F stock.
Nio Inc - ADR (NYSE: NIO) - Buy
After a brutal 2019, shares of Chinese electric vehicle maker Nio have gained 81.6% so far in 2020 but remain priced under $4. Analyst Ming Hsun Lee recently upgraded Nio.
In the midst of a brutal global auto market, Nio reported 3,155 deliveries in April, up 181% from a year ago and 106% from March. Lee said Nios recent fundraising has reduced cash burn fears and sales growth should help boost margins over time. Lee also said the recently announced EV purchase subsidy scheme demonstrates that the Chinese government intends to help support the company.
Bank of America has a Buy rating and $5 price target for Nio stock.
Southwestern Energy Company (NYSE: SWN) - Sell
Southwestern Energy is one of the largest natural gas producers in the U.S. The oil market has been devastated by the economic shutdown, but natural gas prices have actually been relatively stable year-to-date. Still, analyst Doug Leggate recently said core Marcellus inventory depth is a concern for the company.
Southwestern could also be at risk of exceeding its net leverage requirements under its 2018 debt covenants. Shares are up 80% in the past three months on the expectation that less U.S. oil production will limit associated gas supply, but Leggate said the impact may be smaller than investors realize.
Bank of America has an Underperform rating and $1.85 price target for SWN stock.
Transocean LTD (NYSE: RIG) - Sell
Transocean is one of the world’s largest offshore oil drilling contractors. Transocean has been one of the worst investments in the market over the past decade, and shares are down 98% overall during that period. Unfortunately, analyst Mike Sabella recently said there seems to be no end in sight for Transocean’s troubles.
Sabella said there is essentially no demand for offshore drilling, and a severe lack of capital will likely force cold stacking and scrapping of existing rigs. Leverage and free cash flow problems will likely continue to plague the company for years to come.
Bank of America has an Underperform rating and $1 price target for RIG stock.
See Also: 7 Best-Performing Stocks Of 2020: Buy, Sell Or Hold?
J C Penney Company Inc (NYSE: JCP) - Sell
Twenty years ago, it would have seemed inconceivable that JC Penney shares would be trading at 18 cents. Yet here we are. Less than two years after Sears was delisted, JC Penney is a true penney stock and appears to be headed down the same path.
Even prior to the coronavirus outbreak, same-store sales dropped 7% in the fourth quarter and the company guided for up to a 4.5% drop in 2020. Analyst Lorraine Hutchinson recently said JC Penney simply can’t seem to stop the bleeding, and the stock is untouchable unless the company somehow finds a way for its business to make a 180-degree turn fast.
Bank of America has an Underperform rating and 20-cent price target for JCP stock.
Photo credit: Miosotis Jade, via Wikimedia Commons
Latest Ratings for F DateFirmActionFromTo
Apr 2020Goldman SachsInitiates Coverage OnNeutral Mar 2020Morgan StanleyMaintainsOverweight Mar 2020CitigroupMaintainsNeutral
View More Analyst Ratings for F
View the Latest Analyst Ratings
Thanks Nick. I jumped the gun AGAIN ! My own discipline called for a minimum return based above $2400. Yet went against that on a concern. AMZN now above $2400. Sheesh !
I might follow you in on this one... with tight stops. 105K insider shares sold within the recent quarter.
Closed NIO at a loss. I've been holding this Chinese electric car manufacturer since before tRUMP's trade tariffs on China, with fairly good prospects till he intervened. I still believe that the company may be able to develop a niche in China, but since all this, Tesla has made gains in China and NIO continues to flounder. I will buy this back with the intent to trade. As it does want to trade within a range.
Original purchase price with adds- $4.81. Closed at $3.69.
I think the last straw was the ADR fee recently charged for NIO.
I'd like to hear members opinions about this market and this investing/ trading environment.
My perspective continues to be don't go looking for future stock profits, buy and sell at a profit now. In other words to paraphrase "Don't Fight the Fed"- "Don't Fight the Profit".
There seems to be a few solid companies still out there, some with decent dividends that seem to be okay trading in a range. Dividends or dividend growth is not a good enough reason or measure, nor is future growth or even market leader positioning.
What I'm saying is that to hold in this market is allowing the market to dictate profitability with the stocks that I own. Since I believe that cash is still king even though we've covered quite a bit of market gains recently, I still believe that there is a potential for a worst case scenario with an extended bear market. That doesn't mean to me that the markets are going to crash again. What it means to me is that the markets will continue to trade within a range. There's no telling where that range will be. Though there still seems to be an upward bias.
What's your opinion and how do you view this market with your trading/investing strategy ?
Closed AMZN at $2370 pre market. $53 per share since purchasing AMZN on
5/1/20
Right now I have 2 cards filled with 0% debt. One is a Citibank Preferred card and the other is a BJ's master card. The BJ's Mastercard on a second round of borrowing for 18 months with one of the few balance transfer offers that don't have any front loaded fees or interest rate charges. The Citicard is 0% on purchases for 12 months. Just paid off in full the Citi Simplicity card. Same conditions as the Preferred. Works for me. I have a considerable sum on the BJ's from balance transfers consolidated from other cards. Some without any balances on them- Money right into my bank account.
To free up cash in my dividend income portfolio. Closed V at $184. Previously opened about 6 weeks ago at $180.
The position was too overweight at too high a cost.
Actual cost was $180.57 bought 3/6/20. I'll take the profit over the up coming dividend.
Will buy back smaller position once it settles down.
That's assuming that immunity doesn't exist from either vaccines or antibodies. That's the only hope there is.
Perhaps gold. I'm thinking... Your thoughts ?
I'm addicted to 0% credit card debt. They keep offering. I keep taking.
These bonds were snapped up very quickly. Still A2 and may be downgraded.
On negative credit watch with S&P.
A good reason to add only a small amount to one portfolio.
More than likely, inflation and ensuing interest rate increases will occur. So there's opportunity to continue building a bond ladder.
Added a nibble of NYC MTA Muni 2024 Bonds at 4.75% .
Do folks remember the Wendy's commercial with the feisty older lady exclaiming "Where's the beef !" ?
Well ?
Our excuse ? tRUMP ?
If you're referring to ooga booga economies and wish to equate that with- some African nations that have been successful in cutting covid 19 cases due to their experience with the Ebola outbreak. They have essentially forestalled the pandemic. So some largely undeveloped African countries were more capable of handling this pandemic much more than the US and its present administration.
Sierra Leone, Uganda, Senegal and Rwanda are African countries that closed borders and initiated contact tracing in the early stages of the pandemic.
This according to an article from yesterday in the NY Times.
155 confirmed cases in Sierra Leone for example.
I've called other dentists. They are closed.
Nick,
Do you think that Disney will drag down the market, or do you think that it's factored in already ?
When asked about PFE you said that it wasn't a good investment at $34. I guess at that point you may have been right. No one is 100%.
So I guess you're not perfect after all. Once in 21 years isn't too bad though.
Do you remember Greg ? I don't recall his screen or last name. Ever hear from him ?
At least you can get in to your Dentist, Elroy. I was in the middle of dental work having had dental surgery then everything closed and still not open.
Try that on for size
Glad I have solar panels for all of my house electrical needs. In fact I sell some power back to Con Ed
Many costs are going to skyrocket once this passes.
Reduced by half AMZN at cost- $2320. 0% return.
Closed APO since last weeks purchase. Approximately + 10% from $35 to $38.80.
I'll take it.
Well. between Buffet and tRUMP I think I'm taking off from the markets for the summer earlier this year
One way or the other you'll make money Nick.
Opened The Vanguard Growth Index Fund in New York's 529 Savings plan.
Transferred 25% from the Interest Accumulation Fund.
Vanguard ticker symbol VIGAX, and the 529 plan ticker symbol VIGIX. Don't know why there are 2 different ticker symbols for this, but there you have it.
https://investor.vanguard.com/mutual-funds/profile/VIGAX
You the man SF. One day I'll comprehend options. Necessary in this market.
Nor are they excited to buy here either SF. I wouldn't know too much about not wanting to sell here. Being that many high caliber stocks headed lower today.
I should know, I'm always ready to sell into this market.
So noted Elroy. I stand corrected. The article specified forward looking earnings outlook. Which I do believe will pressure the stock lower. My experience with companies buying other companies is that the buyers stock usually goes down big time. Buying Allergan doesn't appear to be as a great incentive to add.
Now if Kaletra provides relief from CV19 that may bump the stock price...a bit. Doesn't do much for GILD, I wouldn't expect it to do much for ABBV either.
I hold ABBV in one of my portfolios. Down $10 per share since opening. No desire AT ALL to add. It may trade within a tight range for a while. Nice dividend that can be had in many places. Not gonna chase it here.
AbbVie Lowers 2020 Earnings Outlook
8:13 am ET May 1, 2020 (Dow Jones) Print
By Dave Sebastian
AbbVie Inc. on Friday lowered its earnings outlook for 2020 as it reported higher profit and sales for the first quarter as customers stocked up amid the Covid-19 pandemic.
The biopharmaceutical company said it now expects per-share earnings of between $7.60 and $7.70, down from its prior guidance of $7.66 to $7.76.
The company backed its adjusted earnings guidance of between $9.61 and $9.71 a share.
Analysts polled by FactSet were expecting full-year adjusted earnings of $9.60 a share on sales of $35.34 billion.
The company said it will issue combined guidance following the close of its planned acquisition of Allergan PLC.
Shares rose 1.3% in premarket trading.
AbbVie also said it is collaborating with health authorities and institutions to determine the efficacy and safety of Kaletra/Aluvia, the company's antiretroviral therapy for HIV treatment, against Covid-19.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
May 01, 2020 08:13 ET (12:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Hi Nick,
I'm not set up for options trades. My ask was about the info you provide. More than likely that info is cut and paste and it is very much appreciated as a service you provide to the folks here. I'm grateful for that. My ask was simply the put or call price as part of the comprehensive report you provide.
ABBV reports lower earnings. Not an endorsement.
What's the call price on BP ?
I'll look to reduce AMZN within a short time and wash some of that with profit from APO purchased this a.m.
Now the fun begins. Gov't calling on Bezos to appear regarding potentially fraudulent claims AMZN made last year before judiciary committee. Crap. Added to AMZN at 2317 as news broke.
Now stuck.
Reopened APO at 36. Nice dividend. Plenty of cash. Reopened AMZN at 2323
Still over 50% cash