Anyone buying stocks now?

Author: TheDredPriateRoberts ,

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  • TheDredPriateRoberts
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    seems like a good time to buy, oil, banking, companies that deal with debt, probably lots of others too.
  • DebateArt.com
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    --> @TheDredPriateRoberts
    I'd rather wait on those things, I think we're just getting started here. Maybe it makes sense to buy gold though since the government is printing money like crazy :/
  • Dr.Franklin
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    Yeah I think so, will rebound
  • Imabench
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    Go hard on energy companies 

    gas is pushing below $2 a gallon in a lot of states or even less than $1 a gallon in certain areas, both due to the Coronavirus and also the Saudi-Russia price war.... Once the coronavirus is under control and Russia buckles from the low prices (Russia cant sustain low prices like Saudi Arabia can) then a lot of energy companies will come roaring back 
  • TheDredPriateRoberts
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    --> @Imabench
    exactly what I was thinking, I only have a couple of hundred bucks, but think I'm gonna take a shot.

34 days later

  • Nemiroff
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    Tesla all day.
    Its hard to recommend after the price rise, but i sure as hell aint selling. I wouldnt want to be holding any of the other autos at this point.
  • TheDredPriateRoberts
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    --> @Nemiroff
    that's a bit out of my price range, from everything I've read you should purchase stocks in lots of 10.  I did buy some bbby a while ago for 4.40 it was up 75% at one point which equaled a profit of $180  :)  not exactly life changing but mainly I'm doing it for fun/learning.
  • Nemiroff
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    --> @TheDredPriateRoberts
    Where did you hear the 10 lot thing? It makes no difference if you buy 1000 $1 stocks or 1 $1000 stock. Assuming the company is a certain size, it will go up/down the same %, and your money will follow the same %. Im more then happy with my 1 share of amazon, i cant imagine 10 shares of Berkshire Hathaway.

    I think tesla will keep growing, fast. But im glad i got into it at a much lower price. Battery day will be exciting. Rather than lots of 10, ive been hearing many companies offering fractional shares for those pricey stocks.

    Its not the # of shares, its the amount of $ put in. Also, the bigger the market cap, the more stable the price. In general.
  • TheDredPriateRoberts
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    --> @Nemiroff
    pretty sure I read it on investopedia, there are many theories of course.  I read it a long while ago but I think the gist of it was you would sell off 5 for profits and hold 5 for potential long term gains depending on what your plan was and how the stock did.  again it was a long time ago I read it, but I did read because I'm not that clever to make something like that up :)
  • Nemiroff
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    --> @TheDredPriateRoberts
    I certainly am no expert, but that advice makes only marginal sense. The sell half strategy is good, but you don't need lots of 10 to do that. 

    If you buy 10 $100  stocks ($1000) and it goes up 5%, you get +$50

    If you buy 2 $500 stocks ($1000) and it goes up 5%, you get +$50 and you can still sell half at anytime. It's the same thing but your arbitrarily blocking yourself off from potentially good stocks.

    If your not confident at picking, did you look into etfs?
  • TheDredPriateRoberts
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    --> @Nemiroff
    I have a 401k so I'm just really playing around, even gambling.  The stocks I have purchased I watch daily because it's entertainment for me.  There are a couple that aren't doing so well right now but others that are.  I've purchased about 2600 dollars in stocks.  My goal is to keep them for at least a year, unless they go way up (like double).  Some of my stocks normally pay a decent dividend.  Given everything that has happened I'm bargain shopping hahaha

    I'll have to re-educate myself on etfs, I transferred the bulk of my savings to my brokerage account because I was getting so little interest keeping it in the bank.  Even if the money just sits in my account I'll be getting better interest and still maintaining liquidity.

21 days later

  • TheDredPriateRoberts
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    currently I'm up 8.63% (ish) on about $3,700  one lot of bbby stock is up 64% which sounds great until you see that amounts to a gain of $55  :)  I'm really enjoying this learning process, wish I knew a lot more about it than I do, wish I knew then what I know now......   Hopefully things continue.  the capital gains tax for stocks owned less than a year is horrible unless it skyrockets and looks like it will tumble back down.  Lots to factor in.  One thing is certain, you need to have money to make money.
  • fauxlaw
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    --> @TheDredPriateRoberts
    Yes, you do need money to make money, but you don't need a fortune to make one. You're on a good path. I first started with a $1,000 my father gave me. My first investment was a CD. When it matured, I added to it and rolled it over to another. Then I bought a fixer real estate n Silicon Valley. Fixed and sold. Repeated a number of times; learning the separate enterprises of building a house, one renovation at a time. This started in my late twenties. By 35, I'd made my first million. About 12% of my portfolio is direct in DJIA. Most is in real estate. Some in mutual funds, and some in high yield, high risk. I own two properties outright, rent one that is worth $1.3M, owned in Silicon Valley since 1978, one renter since 1992. He opposes owning real estate. Takes all kinds, but he takes real good care of the place. He's paid for the place by rental a couple of times over. He's committed to keeping the place until he dies, then, I'll sell it.
  • TheDredPriateRoberts
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    --> @fauxlaw
    9 more years until retirement but I'll make what I can, with what I can
    I'm up 10.33% atm.  Mostly I'm having fun, I find it interesting etc.  If I sold everything I'd make $383.65  not exactaly life changing money haha
  • Greyparrot
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    --> @TheDredPriateRoberts
    I invested 20,000 dollars
  • TheDredPriateRoberts
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    --> @Greyparrot
    dayum!!!!  I bought some bbby in april  20 shares for $4.40 it was up 116.xx%  lol wish I had 20k worth of that at that price, my total is >5k  and I'm up atm 21.xx%  but since I have had them over a year not really worth taking the extra tax hit to sell yet, if it goes nuts I might if it looks like it may go down.  also got some dividend stocks, wish I had known then what I known now especially as a much younger man.
  • Greyparrot
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    --> @TheDredPriateRoberts
    March was the window. I didn't buy after March
  • Discipulus_Didicit
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    --> @Greyparrot
    March was the window. I didn't buy after March

    Eh, March was definitely ideal in hindsight but there were definitely some opportunities that came afterward. I am up about 75% from March 18th despite holding almost none of the stocks I picked up that day for more than a few weeks or so.
  • TheDredPriateRoberts
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    --> @Discipulus_Didicit @Greyparrot
    I there there's still opportunities just not as obvious or plentiful.  Kroger earnings come out the 18th so I'm kind of keeping an eye on that to hopefully strengthen my position.  This fall could be a good time to buy.  When flu season comes I would expect covid to as well, either in reality or just the scare of it.  Though if Trump doesn't win or it's looking really bad for him it might just all go to hell.