It's happening all throughout the market....There are people out there buying EVERYTHING up...litterally everything. I have never seen this before and I have been at this for awhile now. Very interesting. Someone out there clearly is betting on a turn in the overall direction in the energy sector in particular. Or I guess it could be someone covering a short position too....
seeing 8.00 and the next was 8.40???? It's been happening at different points all day long....anybody have incite as to why this is occurring? Also, who are the buyers and sellers??? Is this someone big just scooping up all orders out there? Perhaps they are orders that were pre-set...but those usually happen after the market close. I just don't get it. It's been a while since I was this stumped..interesting to say the least.
Ok, I'll agree that if someone doesn't sell and the stock comes back it is a wash...but if there are signs that certain levels are going to be tested, and you can make 5% (or in this case save the 4-9% or so depending on when you buy) and then you actually have more cash to buy those shares at 103....now those extra shares help lower the break-even level from 130/sh to perhaps 125 or whatever the size or your position is. The other reason I advocate for selling is that if and when the stock does go to 103.....you have the choice not to buy it back if you see better opportunities in the market. The risk...the stock doesn't test those levels of support that you expect it to test. For sure a concern!
Strongly recommend that you sell here and buy back the shares at say 105 or so....I think levels around 103ish will be tested but to play it on the safe side you can get them back to 105. Heck, if you get nervous buy them at 108....you save yourself 4-5% or so at a minimum!!! It's an easy move to make, look at the charts and the technicals. Either way, best of luck. To give you an idea though...I sold the when AAPL went to 119/sh a while back (at the time it was a stupidly luckily sale...I don't like holding for nice round numbers like 120), that high actually help for a while. The stock drifted back to 103 area (as I recall but I didn't buy back b/c I wasn't interested in the name but recognized the opportunity). It ended up going to it's high at 133ish...it has since gone through all levels including that 119 level. I am considering buying some at 103 if it holds....if that level doesn't hold and the stock were to go lower....LOOK OUT!!!
Well....just as I will not reach for the knife with AAPL yet....I'm gonna close my eyes and reach for CHK. Hope it doesn't hurt all that much....or if it does, that it heals quick.
There is no reason why at this point the stock wouldn't test some long standing support levels. To be quite honest, it would be a healthy thing for the stock and an opportunity for longs to add. Why would anyone add here is the question? Falling knives usually cut you when you reach. People just justify it with comments like...I'm in for the long term, that way they don't have to feel as 'knuckle headed'. I've done it so I know....but it's the truth in this case as in others. FYI, I plan to buy some CHK or UPL today so I reach too....but its still a bad move that the professionals don't tend to make. Just some food for thought. Have a great day, B
Thanks all...I don't really know what to do but I guess I'll jump back in if the price does continue south...it just seems to easy, though I will not buy much...perhaps put my profits back in and see if I can add a bit more. Of course...I guess I could wipe out profits as well...Thanks again, B
A sell-off doesn't make much sense to me, especially since if anything the value of the buy may go up....any thoughts on buying down here?
when my daughters were found to have food allergies Whole Foods was the only store that provided what was needed to make life 'somewhat normal'. They still are the only store in most areas in the NE that provide what we need. Before we book a vacation, we look up how far a Whole Foods is from the place we are going to stay....not because we want to, b/c we have to. That is why I bought the stock pre split days...but I am in the red today as I bought at 82 I think....which is 41 actually. Either way, I don't write this thinking the stock will move but only to defend the company which has literally allowed my children to life a better life. I will hold my shares...perhaps even add to them. B
Just buy if the selling is stupid tomorrow. Likely, the window will be short but hopefully we can snag some at 64 or so....I'm hoping so. Just remember though....this market is nuts right now....PNRA missed all over the place and the stock is being rewarded so....who knows??? But I am buying.....hopefully....
Well, it's been a while since I've done anything with BIDU....today will be interesting. It could go to 160 or right to 190. I will tell anyone that if this thing makes a move to 160 or so I will have my buy order ready. I feel for those who are selling their shares down here in the pre-market. BIDU is the GOOG of China. I have held some shares for a long time (last sold some was at 225 this time a year ago). I hope to get active here again....GL, B
I don't think nibbling is a bad idea...NIBBLING....however in the case here you may not want to be using market cap as your indicator, I personally use the enterprise value which includes the companies debt as well. Full disclosure, I have been long a small position from 27 (a few years back), and have nibbled at 21, 19, 15, and 12.25. I think I will buy more if it goes down on big volume tomorrow for a bounce back to 12-13. In that case I would sell my shares from 27. The key which my position is that all of my buys have been extremely conservative so sleeping isn't a problem YET. I would love to own at the lowest level possible for the long hull since I do not think that commodities will remain low for more than a couple of years. At the end of the day it's about not going all in and excepting the fact that the last half of my position will likely be put on once the stock has come off the bottom....where ever that may end up being. Be careful, it can go lower than anyone thinks but at the end of the day, I don't think BK is in the cards with the assets they have. GL, B
Dividend- I will say that I enjoy Abba's posts so I hope he disregards you. Perhaps you should read more of his posts and you would also enjoy / learn from them. Also, personally my biggest winners have been stocks of companies that I bought a bunch of on the way down that have then since gone way up. I personally find it very difficult to make HUGE gains from my positions in AAPL, GS, BIDU, PNRA. and so on...while I made monster gains on those names it is difficult to sit on RICH stocks that are sickly overpriced whereas me buying GE and GD back in the day....well, it's so easy to sit on hundreds of percents increases on some of those lots because the stock is EASY TO OWN. That is a term that you understand and know that your position is one that pays you to own and has been bought on the WAY CHEAP. For instance, I have recently sold GS, GD. and AKAM as they have hit the 100-150% benchmarks whereas I wouldn't even think of selling shares of GE that I bought at 7. I am hoping that POT is gonna be my next GE....But for that reason....I always am sure to have plenty of buying power which does mean that I lose on upside in a Bull Market which I have in the last 6 or so months....oh well, I'm sleeping fine. With all that said....lol...I think that an investor needs to have eggs in all baskets, ones that think like you and like Abbaman. You can't always trade on momentum as you suggest b/c eventually you get burned by a string of ...bad luck...buys or you end up spinning your wheels as you suggest Abba is doing. I think its good to have a bit of both going on. If you are still reading, know that my value added number went down in this past 15 or so minutes...lol...but I enjoyed it none the less. B
Well....that is the reason Walt. To say that demand is down, down, down, is a bit of a misguided statement as well. I agree with your sentiment as it irritates me as well but the reality of the situation is that the consumer takes it on both fronts.
Oops...aside for some spelling errors....I would want to clarify one thing....I will buy some shares not with the purpose of going long with them but to ride the bounce to the upper end of the downward trend line that we are in....I would at that time sell the shares I bought at 32. I plan to buy a pretty big chunk to fend off the RED.
Well, I've read that some of you are saying 19/sh. Logic would say that that number is coming from the 11/2008 high volume low. That seems like a good level to pick as a ground floor. The question is, will the stock really go to the ground floor? Perhaps? I personally don't think so. The 2008 low has to be considered a very 'special' time doesn't it? I admit that looking at the charts there doesn't seems to be any significant support levels BUT by looking at some technical analysis it seems unlikely that there is room for 30+% downside without a significant bounce. It selling is very close to being exhausted. After spending some time, I will be buying some stock if we have a few more days of this selling. Thoughts?