Anyone Buying Into Today's Dip?

[Brat]

Buy or sell?

Buy. I have two lowball offers.

 

[Car-Guy]

I like to gamble but I'll be waiting before buying tomorrow.

 

[aja8888]

Buy. I have two lowball offers.

OK, I'm placing a stop limit order on my Exxon/Mobil stock as they have operations in Russia. I'm attempting to lock in a long gain.

 

[NW-Bound]

I have no pending orders, but hope to be up when the market opens at 7:30 my time to watch things unfold.

Probably will not buy anything. My stock AA is still more than 70%. That's plenty. And I have plenty of cash that will last a long time. No need to sell anything.

Depending on how the market behaves, may just sell some options.

 

[aja8888]

I have no pending orders, but hope to be up when the market opens at 7:30 my time to watch things unfold.

Probably will not buy anything. My stock AA is still more than 70%. That's plenty. And I have plenty of cash that will last a long time. No need to sell anything.

Depending on how the market behaves, may just sell some options.

Early pre-market data shows the Dow -450.

 

[kgtest]

I like to gamble but I'll be waiting before buying tomorrow.

Yeah, futures are down...and I will probably buy in tomorrow sometime.

Been itching on the trigger finger a bit but I felt like it was too soon last week and BAM that huge rally came lol.

A dividend, is a dividend though and what's 3% in the scheme of things?

 

[NW-Bound]

Early pre-market data shows the Dow -450.

Yes. And the S&P and NASDAQ are worse, at around -2%.

 

[Helen]

I have no pending orders, but hope to be up when the market opens at 7:30 my time to watch things unfold.

Don't you hate having to get up early on a Monday morning?

 

[NW-Bound]

Don't you hate having to get up early on a Monday morning?

Yes, when I used to have to go to work. And we started work at 7AM, which meant getting out of bed at 6AM.

Now, being old my sleep is irregular. I may be up at 4AM or 6 AM. No telling when I will get up. I usually brush my teeth, then go back to bed, grab my laptop, surf the Web to check the news, then try to go back to sleep. And when I do, may sleep till 9AM like this morning. However, on a weekday, my interest in the market will keep me from going back to sleep if I happen to be up when it opens.

 

[NW-Bound]

OK, I'm placing a stop limit order on my Exxon/Mobil stock as they have operations in Russia. I'm attempting to lock in a long gain.

Here's the news I just saw on BP. BP share price will take a big hit, I suppose.

LONDON (Reuters) - BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine.

Rosneft accounts for around half of BP's oil and gas reserves and a third of its production and divesting the 19.75% stake will result in charges of up to $25 billion, the British company said, without saying how it plans to extricate itself...

 

[Brat]

OK, I'm placing a stop limit order on my Exxon/Mobil stock as they have operations in Russia. I'm attempting to lock in a long gain.

BP inherited a deal in Russia when they bought ARCO. They should have liquidated that long ago.

I didn't see the post above when I posted. My son worked for ARCO.

 

[Montecfo]

Pre-market

BP down 7 pct. Apparently unclear how they will divest Rosneft.

Defense stocks and oils rallying, predictably.

One of my banks, FHN, being acquired at 35 pct premium.

Dow now down closer to 300 in pre.

Should be an interesting day.

 

[Time2]

I just did, I sold a week ago Tuesday and bought back today. I got scared back in! I only gained about 2.3% by the out and in, I thought it would have gone down more, but I couldn't wait to see.

Looks like I got back in to early. Seems like I recall someone saying, "you can't time the market."

 

[aja8888]

BP inherited a deal in Russia when they bought ARCO. They should have liquidated that long ago.

I didn't see the post above when I posted. My son worked for ARCO.

I left ARCO in 1986 and had a small banked pension from them which I took as a lump sum in later years. All these U.S. and other oil companies with Russian assets need to get the heck out of there.

 

[NW-Bound]

... All these U.S. and other oil companies with Russian assets need to get the heck out of there.

But, but, but the horse has already fled the barn!

I don't know how Germany feels right now. They imported 40% of the consumed natural gas from Russia, according to a 2018 statistics.

Of course, Russia needs to sell the nat gas for cash, but if Russia turns off the gas, Germans will freeze. Man, I don't want to feel so vulnerable.

 

[aja8888]

But, but, but the horse has already fled the barn!

I don't know how Germany feels right now. They imported 40% of the consumed natural gas from Russia, according to a 2018 statistics.

Of course, Russia needs to sell the nat gas for cash, but if Russia turns off the gas, Germans will freeze. Man, I don't want to feel so vulnerable.

The Germans are smart people. They are going all electric any day now. They won't need natural gas. /s They also gave us the new and improved diesel in 2009 that won economy car of the year here in the U.S. (with the cheating software in it).

But they do make some nice sports cars!

On another note, most large oil companies have some kind of agreements with Russia on production, chemicals, transportation, etc. Many of those arrangements will be wound down. Exxon has already started down this road with them.

 

[NW-Bound]

Well, I did not wake up to see the market open at 7:30. It was 8:30 when I sat down at the breakfast table, laptop turned on, a cup of coffee in hand when I looked at my stocks.

Sold two OTM covered call contracts, then set up a limit order for 2 more. Then, my wife wanted to be chauffeured for a grocery run. We should not be out doing grocery twice a week, but this is how my wife gets out of the house and I oblige.

Come back home, saw that I was down -0.5% or so. Turned the stock screen off, and went surfing this forum.

After the market closed, looked up the brokerage screen again, and saw someone bit on my limit orders. Today's trades: 4 OTM covered call contracts, netting me $389. Not a lot, but way more than what my wife paid for groceries. On a bullish day, I do a lot more contracts.

I suspect the buyers of these contracts will be empty-handed by this Friday, but hey it's the free market and nobody makes them buy.

Oh, and the whole portfolio recovered from -0.5% to up +0.17%. I can never tell what it is going to do, one hour to the next.

 

[Archman]

The Germans are smart people. They are going all electric any day now. They won't need natural gas. /s .

And where will their electricity come from?

 

[aja8888]

And where will their electricity come from?

/s means I was being sarcastic. Oh, here's a tidbit from a recent article:

Germany will target to have all its electricity provided by renewable energy sources by 2035.

In a major shift of energy policy this weekend, Germany said it would draft a strategy to become less dependent on Russian gas.

Unlike other countries in Europe, however, Germany plans to switch off all its remaining nuclear power generators by the end of 2022.

https://oilprice.com/Alternative-En...s-100-Renewable-Power-Generation-By-2035.html

 

[Archman]

/s means I was being sarcastic.

Sorry, I didn't know.

 

[NW-Bound]

https://oilprice.com/Alternative-En...s-100-Renewable-Power-Generation-By-2035.html

As of 2021, Germany still generated about 26% of its electricity from lignite coal. The open mine of lignite in Hambach is huge. Its operation has been protested forever by environmentalists. Lignite is indisputably dirty and the open mine left behind a huge valley.

Being able to stop burning lignite is a wonderful step. It is not at all hard to generate lots of wind and solar powers, but I wonder how they are going to solve the problem of no power generation on cloudy and calm days.

And still, they are talking about electricity generation, and not about totally replacing natural gas. Rather, they will stop buying nat gas from Russia and will import liquefied nat gas from elsewhere.

From the above link:

Germany will target to have all its electricity provided by renewable energy sources by 2035, according to a new draft policy that speeds up the timeline for ending fossil fuel-powered generation before 2040.

Germany, the largest economy in Europe, said in a major shift of energy policy this weekend that it would draft a strategy to reduce its dependence on Russian gas, accelerate renewable energy capacity installment, and build two liquefied natural gas (LNG) import facilities.

 

[aja8888]

As of 2021, Germany still generated about 26% of its electricity from lignite coal. The open mine of lignite in Hambach is huge. Its operation has been protested forever by environmentalists. Lignite is indisputably dirty and the open mine left behind a huge valley.

Being able to stop burning lignite is a wonderful step. It is not at all hard to generate lots of wind and solar powers, but I wonder how they are going to solve the problem of no power generation on cloudy and calm days.

And still, they are talking about electricity generation, and not about totally replacing natural gas. Rather, they will stop buying nat gas from Russia and will import liquefied nat gas from elsewhere.

From the above link:

Yes, it seems that reality is sneaking in to these countries that say they will be totally off hydrocarbons for their power generation. Maybe that has something to do with the emergency use of coal and purchasing LNG in England recently?

They can import LNG from various countries like the US, Trinidad, etc.

 

[aja8888]

Sorry, I didn't know.

No biggie...I snuck that /s in! LOL

 

[NW-Bound]

As I stated before, having enough storage for electricity from solar and wind is already very, very tough.

Nobody knows how to heat without burning something, using what we know at this point. It would take even more electricity which we don't know how to store.

Well, maybe it's possible with many many nuke plants, I don't know. However, people don't want nuke, so there's no way out.

 

[aja8888]

As I stated before, having enough storage for electricity from solar and wind is already very, very tough.

Nobody knows how to heat without burning something, using what we know at this point.

Well, maybe it's possible with many many nuke plants, I don't know. However, people don't want nuke, so there's no way out.

I'm pretty sure I read something recently that said France is selling power to the EU from their nukes.