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That's good, because being on Staten Island with far fewer population numbers that the rest of the city, I'm getting real cagey here. We are planning to get out and get to our resorts and clubs that we frequent for day trips and weekends. They will be opening in May.
One redeeming consideration regarding pipeline companies and servicers. They will still contractually transport and hopefully get paid. So too the shippers. They stand to do better than the drillers.
Yes that sounds nice SF. I'll swim out to meet you. But it's gonna be tough considering I thought you lived in Santa Fe.
I think I'll just go swimming instead.
Thanks Elroy. I'm just not looking for "future" anything right now. If a stock doesn't continue higher time is the enemy, because I believe that the longer I hold a stock in this market odds are it'll go down. There are few exceptions.
I'd rather risk losing big gains than having big losses.
Dumped GILD at $81. About +1.25% which is no where near what I wanted. Just to keep from losing money. Continuing capital gains on a stop loss, albeit modestly... I gave the stock plenty of opportunity to regain it's higher price... and of course it'll go back up now.
Thanks Nick for your sage advice.
I have first tier and second tier. I have my losers and my winners. I have long term investments whose conditions are always changing. I have my short term holds and my speculative buys and sells. I have mutual funds.
What I'm lacking is a clear cut investment strategy and tactical movement based upon market and stock fluctuations. That's hurting me. I'm trying to learn more about puts and calls.
Clearly I've been ahead of the market over the last month and have benefited greatly. Much more so than I ever could have imagined.
However when I think about CODX and the buy I made anticipating great things, watching so many fits and starts with this stock. Watching it get cut in half then not keeping an eye on one thing alone that foretold its eventual rise. That was the options on the stock. after watching many technicals and charts on this I finally decided to close at $10 taking a 1/3 haircut putting an $8 target to reacquire the stock,only to realize the next day a consolidation and eventual rise to $14. I disregarded options activity and paid a price for this. It should have been as clear as day and I just ignored those indications. Shoot me, please.
Also being so flush with so much cash I am tempted to buy buy buy, But will show extreme discipline in so doing, hence my reluctance. But feeling that the great opportunities are passing me by.
Another case in point is GILD. They're talking down the stock today. but as I watched it after hours last evening it was up over 12% to over $88.Clearly a market mover today. Thinking short term it was good to sell but didn't. I held this thing from $80 down to 73 and waited for clear indications of success.
My choice was CODX, MRNA and GILD. I held GILD, Sold CODX at a loss and closed MRNA at $24 before making or losing money on it. There has to be a better way for me to solidly determine based upon my preliminary research to capitalize on stock potential movements.
Agreed Nick, question is where to go back in, when and into what as well. Still searching. This market and it's leaders are turning ...again.
After hours GILD was above $88. Now it's come down to $84. I think the exuberance about this drug will dissipate today
IF... I own GILD Nick, but harken back to what my wealthy old aunt who owned stock like T for 70 years before her passing.
She used to say "IF is a stiff".
So I'm skeptical, but will gladly ride the wave.
Happy to say ( at this point ) that I still own GILD. Yay me !
Looking towards trimming NYC Deferred Comp Retirement account index 500 fund. Up around 10%.
Closed a cost averaged 10+ % BX at $49. Yay.
Happy days are here again. Woo Hoo !
Thanks Nick. I'm not ready to let go of the rest. I like WMT. They have their challenges and I do believe that their brick and mortar will hurt them very much. But right now, I'll gamble other peoples money on a positive outcome. Looking for a re-entry point to add back. Probably in the low 100's.
Thanks Court. Waited through thick and thin for this.
Trimmed WMT at 131.20 100% profit. Looking for re-entry point. Original position taken at $65.70.Using other peoples money now. Yay.
Nick,
I traded AMZN between 1690 and 1907. I no longer have a position in AMZN.
It was just too cloudy to determine holding the stock any longer.
I'm still looking to improve investment and trading strategy. What works well one day doesn't the next month so everything is changed. I'm still adjusting to this and making a few adjustments along the way.
I've noticed and it's been documented that there's a tale of 2 markets. So indexing is not in the cards and many sectors of the market as evidenced by the economy will continue to lag considerably. My crystal ball is cloudy, but I can tell that the dichotomy is striking.
It's becoming harder and harder to find those stocks that will take off and fly.
Closed CODX. Lost 1/3 on this at $10. The short sellers still have their day. Placed buy order in for $8.
WMT finally broke $126. Yay.
More and more in the green. For a change.
Used to be oils were higher stocks were inversely lower. Now the opposite is true. I don't think that oil companies influence the stock market as much as they used to. Simply because their weighting is so much less. That said. When oil goes down now the markets go down. Hmmm... Not the opposite.
Reduced buy order to 35. I'm in no hurry. This follows the typical pattern. CEO/CFO comes on CNBC with good news. the stock anticipates then goes higher, Then once things cool down it goes lower.
Would you buy PFE at $35 ?
Yep, had a buy order in for 35.760. Didn't execute. A bit late to the party.
I guess I really don't understand the mechanics of Preferred stocks.
Is it this one on Fidelity ? The same thing you're invested in? It's way below the $25 number you mentioned.
WFC/PZ — WELLS FARGO AND COMPANY
23.1700 Change +1.270 (+5.80%)
AS OF 1:05 PM ET 04/09/20. Quotes delayed at least 15 minutes.
Research WFC/PZ | Pop-Up Quote | Trade
Chart for WFC/PZ
Or is it this one on this one on Ameritrade ?
Search Results
1 result(s) for WFCPRZ
WFCPRZ
Quotes (1)
WFCPRZ | Wells Fargo & Co (New)
$25.21 0.00 (0.00%) Set alert
Nick, thank you. You don't need to tell that you don't do stock recommendations. I know. I just believe that your acumen far exceeds my rather blunt attempt at stock market investing. That said...
I put wfcprz into fidelity and continue getting WFC/PZ at $23.17 up $1.27.
I'm about 25% cash at this point. Due to selling at profit on the way down. I won't jump in until I see clarity. I may nibble but not throw everything in like I did with AMZN and IBM. That yielded very good short term results.
Now for me is to take stock of my positioning and look towards selling losers once they move up more towards their purchase price. Though many are still dividend payers, I'm not reinvesting dividends. If I were looking longer term with these stocks I would reinvest, but I'm still accumulating cash. Call me a dinosaur. I'm not comfortable with some of these and I'll work on losses as time moves along. Taking less of a stock loss is my focus now. Not cost averaging, not throwing in with the masses on a dubious upswing.
I see the upswing and recognize the stimulus that it resulted from. But am still very wary about buying for the longer term. I know "Don't fight the fed" That's the clarion call right now. I'll sit and wait for things to become more clear and over time watch more and more of my holdings turn green.
That the call price and dividend
DIA above at $239.56, Up $5.12
"Can't fight the FED". The cavalry is here !
Took COBOL, FORTRAN, BASIC, ASSEMBLER, PASCAL way back in the 70's while in college.
Thank you Elroy and Nick. Yeah, It's getting a bit over priced according to Nick. Nick said anything under $25 is good. I'd now be into the stock at the get go. Oh well.
When looking on NASDAQ.com I see WFG.PRZ at $22.90. I'm confused !
Famous last words... Though I was fairly good at calling near bottom, my skittishness allowed only decent round trip profits. Now overcome by the breadth of this market rally, I'm sitting on my hands with tons on $$ and no where to comfortably put it to work....
Looking to begin trimming losers as we rally into the green. Re-configuring will now be a real challenge for me. I like the concept of holding lots of cash, gives me a warm fuzzy feeling all over. But the returns are negligible and year end I'm looking at a drop of income as a result.
Good news is the NYC Deferred Comp plan is up 8% which isn't too bad.
Thank you Elroy and Nick. Yeah, It's getting a bit over priced according to Nick. Nick said anything under $25 is good. I'd now be into the stock at the get go. Oh well.
Famous last words... Though I was fairly good at calling near bottom, my skittishness allowed only decent round trip profits. Now overcome by the breadth of this market rally, I'm sitting on my hands with tons on $$ and no where to comfortably put it to work....
WFC/PZ is on Fidelity not Ameritrade. Right now its $22.69. That's not the WFCPRZ.
WFCPRZ is actually on Ameritrade. It's over the $25 target you had. It's now at $25.21.
A bit rich now ?
Whats a good price for this one to buy ?
It's tough sitting on the sidelines while the markets fly away. If I'm wrong I'll be watching the markets hit high upon high while it looks in the rear view mirror at me with tear in eye.
Nick, where am I going to find more info on this MER/PK
BANK OF AMERICA CORPORATION
25.43Down -0.01 (-0.04 %)AS OF 6:30:00PM ET 04/08/2020
Fidelity Investments does not make additional research information available for this security.
Maturity date 11/15/2040
Basic Analytics
Price (Bid) N/A
Price (Ask) 101.135
Depth of Book --
Ask Yield to Worst 4.600%
Ask Yield to Maturity 4.911%
Yield to Sink --
Current Yield 4.943%
Third Party Price 96.775
Spread to Treasuries 3.431
Treasury Benchmark 20 YR.(4.250% 11/15/2040)
Recent Trade View Recent Trades
Price 101.379
Quantity 10
Date/Time 04/08/2020 15:20:12
Buy/Sell CB
Complex Analytics
Duration to Worst 2.780
Option Adjusted Duration 8.187
Option Adjusted Spread 260.864
Convexity to Worst 9.546
Option Adjusted Convexity 216.804
METROPOLITAN TRANSN AUTH N Y REV REV BDS05.00000% 11/15/2040SER. 2012A-1 5.000 11/15/2040 05/15/2023 -- A- -- No Bid
--(--) 101.135
10(10)
4.600
-- 4.911 -- 96.775
View ME SFP
ER R
Nick, I'm looking at 2 preferreds one is ALLY.A- GMAC ALLY BANK
The other MER.PRK- Bank of America Preferred
But can't get a listing on Ameritrade or Fidelity. What am I doing wrong ?
Thanks Nick. I'm looking at Citicorp preferreds also.
Everyone panics, everyone sells. Everyone panics. everyone buys. Oy !
So basically I use the "Scared Bunny Rabbit Approach".
I had been using the "Scaredy Cat Approach" but changed methods since becoming aware of cat political correctness on the board.
I wouldn't touch stocks in the leisure/travel field. But stocks which you know I've been trading up such as IBM, TQQQ and AMZN are not ripe right now for the picking as they've gone up increasing risk if there's another downturn. Others I have interest in are MRNA, INTC, and T. There are many others. But I believe it's better to concentrate resources on 1 or 2 stocks and though they are good companies and long term holds and relatively stock market downturn proof in the long run, I'll trade them as the market goes.
So right now I sit on my hands and wait. Watching stocks owned to recover and watching for the select few to act as my trading parameters allow.
Though I continue to see WMT go up then go down within a fairly nice trading range I'd like to get a little more out of it before it drops again and I add. This trading high quality stocks approach works for me.
TSLA I am seriously interested in opening (Believe it or not Court), but not here, not in the $500 range.
This simple approach using the finest trading tools, such as Ouija board, crystal ball Dart board and roulette wheel (As SF well knows) have yielded decent results so far since this downturn.
Move like a butterfly, sting like a bee I always say. Oh wait that was Mohammed Ali. Never mind.
1. Uninstall them reinstall the scanning software.
2. Check to see how full your drives are,