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Sorry to say guys, I commented almost presciently that the last market rout precipitated by tRUMP resulted in major pain. Little was I aware that yesterdays grumblings from tRUMP was going to result in the same thing. Combined at the worst time, with mixed negative corporate earnings, it's almost as though this guy is going to do everything he can to undermine the markets.
I understand that the asphalt plant doesn't add much to quality of life.
Opened HOLX at $51.30. Pure speculation on their test kit system. Famous last words.
$1.79/unleaded gallon on Staten Island.
My point exactly, Court. Action against China will have monumentally deleterious effects on many businesse- and the markets. Considering most everything comes from China now a days. Remember what tRUMPs failed trade embargo against China did, with Tariffs on not China but on the American people. Now that's something I'd like to forget. The last big market rout.
No surprise there. I stated the same observation to my girlfriend last week. Figuring it's either the franchise gas station owners or edicts by oil companies to (price fix) keep gasoline prices higher. Certainly can count on more taxes at the pump going forward too. Big price inflation coming after this recession.
Maybe a bit of good old 70's stagflation. After all's said and done can interest rate increases be that far behind in this scenario? That's going to be much further out, but possible.
P.S.- out of DOw at $36.90- 0% gain/loss.
Not happy with price action. No point in cost averaging. Cash is still king. Buy and sell with quick profits still the method of conservative choice.
We'll see what happens with the AAPL too after the bell. Big China exposure.
Putin doesn't care what the world thinks. Nor does China. They're too big for their britches.
That said, right from the communist/tyrant/dictator/oligarch playbook. Telling the world what to think is their goal.
Doesn't bode well for AMZN either
Yes, you read my mind. What is going on with WMT. Glad I halved my position at $131, but what range now are we talking about with WMT ? What news? Technicals? Profit taking ?
I'd look to add at $107
What thinks you Nick ?
What does ranked above 100 mean ?
Nice add.
What about Dow Chemical Nick ?
Watching DOW tick up on a higher DIA. Began nibbling at 36.90. I'll add at 36.30
Would have taken that position at $36.35 earlier but seemed to have missed that window.
Closed TQQQ at 70, from 65, opened yesterday.
Nick,
Looking at DOW chemical this morning. Nice dividend. CFO says dividend isn't in jeopardy. Earnings last quarter were a bit off. I'm thinking about opening. What's your quick take ?"
Weeee! Here we go down again.
Glad I held 1/2 my original FB position. Glad I trimmed by half my WMT position at $131.
Glad I opened INTC at $56 and reopened TQQQ at $65.
We'll see what tomorrow will bring... Because...
NOBODY EXPECTS THE CORONA VIRUS INQUISITION.
Seeing more green across the board in my portfolios. That's a very good thing. Waiting for any significant shoe to drop to add at this point.
Hmmm on 4/28/20 apparently reopened TQQQ at $65, I'm going to sit with this for a while. Upside may be reasonable. Though this ETF is a trading vehicle, it's a tiny part of the IRA portfolio.
I was examining it yesterday after hours once it reported. Might have grabbed it lower, not by much though. But figured I'd wait and see if I could grab it lower this a.m. This is for a long term hold in my 23 year old sons roth ira account. He'll have plenty of time with this one.
T downgrade at a time when it's near it's recent low of $26 is almost laughable. I'll still keep my purchase order for $26 open to cost out of some more expensive T in my portfolio at $34.
Opened with a nibble INTC @$56 in Roth IRA account.
The information regarding the China testing has been out for weeks and had been discounted previously. This is clearly an over reaction. I'm out of the stock previously at $81 because though it may come back up it's subject to too much (even for me ) fluctuation, and even if the drug's successful GILD won't make a bucket of money with it.
SF, I truly hope not, because without dissent our democratic republic is in jeopardy.
I'm speaking in a completely non partisan way about this.
The Horn and Hardart auto mat was a big hit in NYC in the 40's and 50's. Then they disappeared. So much for automation.
https://www.6sqft.com/horn-and-hardart-automats-redefining-lunchtime-dining-on-a-dime/
I'd short DAL if I were of a mind to do so. Not in my bally wick right now though.
What I read in to this is don't buy bank stocks because nobody expects the global Spanish inquisition. My belief is that things can potentially get much worse. Even if banks maintain their dividends, their share buy backs maintained share prices at minimums and without buybacks there's potential for a continued downswing in bank stock prices.
As far as AT&T is concerned, I'm wary, but will continue to cost average down at $28 per share, looking to cost out of a part of my AT&T holdings. Really looking for $26, but not sure we'll see that again. Famous last words.
Yes those others like MSFT will continue to pay dividends, but the same way I don't chase higher dividends now I won't chase lower dividends looking only for long term stock price improvement.
I'll take my chances.
Closed APO @ $39, from opening on 4/21/20 at $36. Approximately 7.7%
Closed TQQQ @ $65 from $61 - opened 2 days ago. Approximately 6.15%
Agreed, SF. Only thing I find exception to is that there will be no revolt of any magnitude. The propaganda machines are working overtime to minimize those that disagree.
Closed BX pre market @ $49, from a purchase @ $46.50 2 days ago.
Your politics are showing SF. I couldn't agree more with you.
Maybe you could remind us when that occurs.
Nicer one Nick.
Good one Nick !
Thanks Court.
I'm pretty close then, to my price target at $41. We'll see if it gets there this time.
Earnings good with NFLX, not so much with IBM. Looking to open INTC when it hits my price target.
Moved $ in one credit union account to 30 month flexible CD paying 2.465%. Due 10/03/21. Credit union policy of allowable one time 50% cash reimbursement waived till further notice could in theory to cash out entire amount if need be.. . Otherwise, 50% of cash available if needed. Which I don't think it will be. When 2.715% 12 month Cd's come due in June I'll transfer to 30 month flexible. It's the right thing to do.
Added additional funds to New York's 529 savings plan and will begin moving $ in to more aggressive funds. My son is finishing up some undergrad work to prep him for Vet school. So there'll be plenty of opportunity over the years to utilize these $.
The Bahamas is too far for me to swim. Why this coast. I'd be looking to dock and explore the left coast instead.
Stocks opened this morning all broke below 50 day ma. Now time to get out at cost. Seeing a lot of red out there.
Looks like another rout. Here we go folks. Cash at ready to capture future gains.
Opened APO at $36. Pays 6.31% dividend.
Correction: Didn't open BX at 46.50. Opened at 46.42.
Didn't add to it at 45.
Sell on the good news ? Buy on the bad news ? Gee, I don't know.
Reopened BX again. Had to chase it a bit, from $45.50.
Reopened at $46.50 I'll add if lower to this one. Decent dividend Elroy. Not extraordinary, but probably sustainable
Or maybe not... Added to BX at $45.
Blackstone and Starwood Capital Check in to Extended Stay America
8:49 am ET April 21, 2020 (Dow Jones) Print
By Esther Fung
The often staid extended-stay segment of the lodging market, where many guests book hotel rooms for weeks rather than days, has been getting a lot of attention during the coronavirus pandemic.
Extended Stay America, Inc., which focuses on midprice lodging in this category, is a prominent chain and has attracted investment from two of the biggest real-estate investors, both of which have some history with the company. Blackstone Group Inc. and Starwood Capital Group have each acquired equity positions recently, according to public filings and people familiar with the matter.
These two companies had vied over the hotel chain a decade ago.
The lodging industry overall has been decimated as the pandemic has brought most all business and leisure travel to a halt. Among the hardest hit have been convention hotels that cater to large group meetings and luxury hotels.
More affordable, economically-priced hotels are still enjoying some demand, attracting medical, government, construction workers, airline crew and even some full-time residents.
About a third of the rooms in economy-class hotels were occupied during the week ended April 11, according to hotel data-tracking firm STR. Luxury hotels, by comparison, sold only 9% of rooms during that time.
"As some Americans lose their homes because they can't make mortgage payments, you may see the occupancy in the economy and extended stay properties increase as people move into temporary shelter for awhile," Jan Freitag, a senior vice president at STR, said in a webinar last week.
Other popular extended-stay hotel chains include Mainstay Suites from Choice Hotels International Inc., Home2 Suites by Hilton Worldwide Holdings Inc. and TownePlace Suites from Marriott International Inc., though the latter two are typically at a higher price point.
Charlotte, N.C.-based Extended Stay operates 632 hotels with rooms that include kitchens and dining areas for guests looking to stay for a week or longer.
Like a number of other hotel companies, Extended Stay withdrew its 2020 earnings guidance in March but said that its low-cost operating model, strong balance sheet, and focus on longer term extended-stay guests differentiates the company from its peers.
Extended Stay attracts workers on assignment and people in need of temporary housing with pet-friendly rooms and on-site laundry options, according to its website. While according to STR about 4,700 U.S. hotels have temporarily closed in recent weeks, Extended Stay said it hasn't closed any of its properties during the pandemic.
This resilience attracted Blackstone Group's interest in mid-March, when it purchased a 4.9% stake in the company at an average price of $6.50 a share, according to people familiar with the matter. The purchases came during a recent period when Blackstone spent more than $1 billion acquiring shares of publicly traded real estate-related companies, these people said.
Starwood Capital, led by chief executive Barry Sternlicht, acquired 8.5% of Extended Stay America for $136.8 million, which averages out to around $9.05 per share, according to a stock exchange filing.
Blackstone knows Extended Stay America well, having purchased it in 2004 for around $2 billion when the hotel chain had less than 500 hotels. At that time, the investment firm already owned Homestead Village, a midprice extended-stay hotel chain. The properties were grouped under Extended Stay Hotels.
In 2007, Blackstone sold this portfolio to Lightstone Group for $8 billion in a highly-leveraged deal. The hotel chain subsequently filed for bankruptcy in 2009.
In 2010, Blackstone and Starwood battled for control of what was then called Extended Stay Inc. through competing consortia looking to take the lodging company out of bankruptcy. Blackstone's group prevailed, purchasing the chain for around $3.9 billion. In 2013, it made a profitable exit by taking the chain public.
Shares of Extended Stay closed Monday at $9.35, up from a year-to-date low of $5.35 in March.
Write to Esther Fung at esther.fung@wsj.com
(END) Dow Jones Newswires
April 21, 2020 08:49 ET (12:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Will probably start to nibble today.
reopened tqqq $61
Thank you Nick. Your previous outline provides needed guidance.