Anyone else buying today?

[fgtayl01]

I just stick with the AA and not try to time anything.

The next Fed fiscal year starts Oct 1. Any concern early election political sabre-rattling could shake a nervous market more yet?

[Cat-tirement]

Just a small buy, but I made full Roth contributions into a broad stock index fund for DW and I yesterday after the dip.

[kern44]

XOM at $56 is a pipe dream. That would be a 5.2% yield. Sleep well knowing that your limit order will never be filled


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[Fermion]

Quote:

Originally Posted by kern44 XOM at $56 is a pipe dream. That would be a 5.2% yield. Sleep well knowing that your limit order will never be filled Sent from my iPad using Early Retirement Forum

Never say never. Seadrill went from $40 down to $7

Even Exxon was around $90 something early this year and is now $72. About the same drop will get it in the $56 range.

$30 oil for a few months, maybe toss in a spill here or there and bam, $56 is printed.

[aja8888]

Quote:

Originally Posted by Fermion Never say never. Seadrill went from $40 down to $7 Even Exxon was around $90 something early this year and is now $72. About the same drop will get it in the $56 range. $30 oil for a few months, maybe toss in a spill here or there and bam, $56 is printed.

$30 crude oil for a few months and I'm buying auto stocks and refiners.

[Fermion]

Quote:

Originally Posted by aja8888 $30 crude oil for a few months and I'm buying auto stocks and refiners.

And short Tesla

[Car-Guy]

Quote:

Originally Posted by aja8888 $30 crude oil for a few months and I'm buying auto stocks and refiners.

$30 crude for a few months, heck, I'm ordering me a new Escalade w/4 wheel drive.

[Mulligan]

Quote:

Originally Posted by Fermion Never say never. Seadrill went from $40 down to $7 Even Exxon was around $90 something early this year and is now $72. About the same drop will get it in the $56 range. $30 oil for a few months, maybe toss in a spill here or there and bam, $56 is printed.

Ya and its entirely possible down the road Exxon may get to $56 without a 5% yield also, if this is a protracted oil rout and divi's get cut. But this is coming from a guy who bought 100 shares at $98 last fall watch it drop down and then bounce back to around $96 and I chickened out sold and lost a few hundred bucks. So anyone thinking $98 was a good buy shouldn't be listened to!


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[HFWR]

Quote:

Originally Posted by Car-Guy $30 crude for a few months, heck, I'm ordering me a new Escalade w/4 wheel drive.

In a reverse "Wheee" moment, I bought a Prius, when gasoline was $4, headed for $5...

[valueplayer]

Quote:

Originally Posted by Fermion Never say never. Seadrill went from $40 down to $7 Even Exxon was around $90 something early this year and is now $72. About the same drop will get it in the $56 range. $30 oil for a few months, maybe toss in a spill here or there and bam, $56 is printed.

Might be but it got within $10 of my buy price. Panic does funny things to stocks and I don't believe the bottom is in.

[valueplayer]

Quote:

Originally Posted by kern44 XOM at $56 is a pipe dream. That would be a 5.2% yield. Sleep well knowing that your limit order will never be filled Sent from my iPad using Early Retirement Forum

Oops, I meant to quote you.

[heeyy_joe]

Not buying, but closed a few covered call positions today.

[Fermion]

Quote:

Originally Posted by heeyy_joe Not buying, but closed a few covered call positions today.

I so wanted to do that but then tax is due this year on the call gain.

I have some Corning calls I sold for $3 that today are $0.20

$10,000 would be taxed in 2015 instead of 2016 when we have no income

[Fermion]

Market is crashing again but somewhat controlled now. Might get that opportunity I missed this morning...might not.

[travelover]

I have not contributed to this year's Roth. May be an opportunity.

[DEC-1982]

Quote:

Originally Posted by travelover I have not contributed to this year's Roth. May be an opportunity.

+1, zero till now.

Over the weekend when I looked at the PE ratio for the S&P 500 index and Shiller PE10 index , I thought the overall market was still very overvalued, compared to historical norms. Even if the S&P 500 dropped by 50 points today it would be overvalued but by less.

[hesperus]

Absolutely bought today. I got up in early am and saw that the shanghai had dropped 8.5% before the opening bell. So I put a few limit orders at ridiculous prices, and snagged a few bargains. Overall today, I put in $72K to shore up tech, healthcare, and financial sectors.
Caught AAPL @ 96.50 during the early freefall. It was down as low as 91.50.

The early morning plunge was offering unbelievable discounts.
I still think there's more to come. This isn't going to be shaken off very quickly.

[Chuckanut]

Wake me up when the market is down 25% and I might consider buying.

[RAE]

Quote:

Originally Posted by Chuckanut Wake me up when the market is down 25% and I might consider buying.

Yep, I agree. This is not going to be over for a while yet. As I've said in some previous posts, I think this market drop has been overdue for quite a while now. The U.S. Fed (and also other govt's in Europe, Asia) have been artificially propping up global markets for several years now, with cheap money (QE 1,2,3, etc.). The underlying economies have, for the most part, simply not been strong enough to justify the rise in stock prices we've seen over the last 4-5 years. The bubble had to pop at some point, and I think the catalyst for this pop was China. This quote from the article linked below summarizes it pretty well, I think:

"The immediate cause of Monday's wipeout was a lack of action over the weekend by the People's Bank of China to unveil fresh monetary policy easing in the form of an interest rate cut and/or a reduction in the so-called reserve ratio requirement, which dictates how much deposit money the banks must hold. Action is being demanded as Chinese economic data raises fears of a slowdown, stock market volatility intensifies despite aggressive efforts by Beijing to stop it, and everyone worries about the uncertain implications of a recent devaluation in the yuan.
With all that piling up and the threat of a September rate hike from the Federal Reserve still on the table, traders stampeded for the exits."

http://news.yahoo.com/troubling-truth-revealed-stock-market-214700529.html

[aja8888]

Looks like tomorrow may start as today did with Asian markets sliding tonight:

Asian shares resume slide on fears over Chinese economy | Reuters