Anyone Buying Into Today's Dip?

[NW-Bound]

Yes, France generates enough power from nuclear plants to export.

At the same time, France imports lots of natural gas.

France consumes 22,811 cubic feet of natural gas per capita every year (based on the 2017 population of 64,842,509 people), or 62 cubic feet per capita per day.

France consumes in a year 4.9 times more than its total reserves. It substains this consumption by importing 1,716,308 MMcf of natural gas per year (in 2017).

 

[Montecfo]

It's always be obvious I think that there is not a way to eliminate fossil fuels. Nor even to reduce them dramatically.

But even worse to learn too late you don't want to get fuel from Russia.

I hope soon that we learn once again the importance of energy independence.

 

[explanade]

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.

In general, homes in Europe don't have forced air heating like we do in the US.

Especially in all those old buildings which were converted to apartments, with things like small elevators retrofitted.

For the most part, I haven't visited in the winter so I'm not sure what they use but things like heated floors and especially those towel racks which are either powered by steam or electricity are fairly common.


Where they have installed AC, it's these ventless (or the vent is hidden), remote controlled units mounted high on the wall.

But the strategy is to cool individual rooms, not the whole apartment or home. Larger homes may have several of these units installed.

So they could try a similar strategy, go with area electric heaters.

Also these AC units are often heaters too, so all you do is push some buttons on the remote and it switches from cooling to heating. I don't know what percentage of them also have heating functions.

But they're becoming more common over the years.

So they have a path of minimizing use of natural gas in homes. A recent study showed gas stoves emitted high levels of methane and other gases, bad not only for the climate but personal health.

To their surprise, they found that more than three-quarters of the methane emissions happened when both old and new gas stoves were turned off.

The most significant health risks happen when the stove is lit, the authors note, because the process creates nitrogen dioxide as a byproduct. Increasing airflow by using a range hood can help reduce the personal health risk of natural gas-burning appliances, but most individuals report rarely using their ventilation system.

In a small kitchen, it only took a few minutes of unventilated stove use to generate emissions levels above national health standards. According to a meta-analysis from 2013, children living in homes with gas stoves were 42 percent more likely to experience symptoms associated with asthma, and 24 percent more likely to be diagnosed with lifetime asthma.

https://www.smithsonianmag.com/smar...and-health-than-previously-thought-180979494/

 

[aja8888]

It's always be obvious I think that there is not a way to eliminate fossil fuels. Nor even to reduce them dramatically.

But even worse to learn too late you don't want to get fuel from Russia.

I hope soon that we learn once again the importance of energy independence.

One fact that is never mentioned when discussing the demise of fossil fuels is that the world population is growing and a good portion of that population is exiting third world living conditions. Also with the population growth and the movement up the living conditions chain, that will bring on an increased use of fossil fuels as time goes on. Right now, the world uses about 100 million barrels per day of crude oil and that number has been growing every year. Were not even talking natural gas consumption here either.

 

[NW-Bound]

One fact that is never mentioned when discussing the demise of fossil fuels is that the world population is growing and a good portion of that population is exiting third world living conditions. Also with the population growth and the movement up the living conditions chain, that will bring on an increased use of fossil fuels as time goes on. Right now, the world uses about 100 million barrels per day of crude oil and that number has been growing every year. Were not even talking natural gas consumption here either.

And yet, when your energy need is modest, a small solar system would work very well. Plus 3rd-world people will not complain too much when their energy source is interrupted due to rain or cloud cover.

For transportation, the poor people certainly cannot afford fancy EVs. Maybe the cheap Chinese EVs can work for them.

 

[MichaelB]

aja8888 makes a good point. For low income people in low income countries, transportation is typically the single biggest budget item, and few people own cars. Most rely on public transportation. They won’t be buying EVs anytime soon because they have no place to charge. If they are fortunate enough to buy an auto, it’ll be ICE, but even that requires a major increase in income.

One additional reason demand for fossil fuel will remain strong is fuel for transportation is subsidized and political leaders that remove fuel subsidies find themselves thrown out of office.

 

[tulak]

aja8888 makes a good point. For low income people in low income countries, transportation is typically the single biggest budget item, and few people own cars. Most rely on public transportation. They won’t be buying EVs anytime soon because they have no place to charge. If they are fortunate enough to buy an auto, it’ll be ICE, but even that requires a major increase in income.



One additional reason demand for fossil fuel will remain strong is fuel for transportation is subsidized and political leaders that remove fuel subsidies find themselves thrown out of office.

Motorbikes/scooters tend to be most popular in low income countries. Cars are a luxury. I know EV scooters are available and seem affordable, but I don’t know how they compare to ICE scooters.

 

[Montecfo]

Back to topic:

I did do some nibbling today with VIX at 34.

Good nibbling recently. Today was mainly new positions.

 

[NW-Bound]

Not selling any options today, which is a rare thing for me.

Stocks that are up, I do not feel like writing calls on them. Stocks that go down, I don't want to write puts because I already have too much and don't want to risk getting more.

 

[aja8888]

Reporting in here:

Bought three shares of Disney @$145.00. Clean up some excess cash.

 

[NW-Bound]

In general, homes in Europe don't have forced air heating like we do in the US.

Especially in all those old buildings which were converted to apartments, with things like small elevators retrofitted.

For the most part, I haven't visited in the winter so I'm not sure what they use but things like heated floors and especially those towel racks which are either powered by steam or electricity are fairly common.

Where they have installed AC, it's these ventless (or the vent is hidden), remote controlled units mounted high on the wall.

But the strategy is to cool individual rooms, not the whole apartment or home. Larger homes may have several of these units installed.

So they could try a similar strategy, go with area electric heaters.

Also these AC units are often heaters too, so all you do is push some buttons on the remote and it switches from cooling to heating. I don't know what percentage of them also have heating functions.

But they're becoming more common over the years.

So they have a path of minimizing use of natural gas in homes. A recent study showed gas stoves emitted high levels of methane and other gases, bad not only for the climate but personal health.

I have stayed in quite a few Airbnb in Europe, and am familiar with their appliances. In general, they are quite frugal with electricity usage. Their kitchens are all very efficient, and induction cooktops are the norm for homes without natural gas.

The wall-mounted ACs you see are mini-splits, and they are heat pumps so can provide heating. My homes are all electric, and with central AC/heat pumps.

At the main home in the low desert where it rarely gets below freezing in the winter the heat pump works very well. My highest electric consumption in the winter is less than 1/2 the consumption in the summer.

The heat pump does not work so well at the high-country boondocks home, where it can get down to -11F (-24C). When the heat pump cannot provide heat, the thermostat kicks on a resistance heater, then a 2nd one if it's still not enough. Ka ching!

With the house vacant and the thermostat at 45F, by monitoring the electric bill, I know how cold it gets up there. I have not spent an entire month there to know how high my electric bill would be. The full-time residents in the town all heat with propane.

So, depending on where you are in Europe, heat pumps may not work for you, and you would still need natural gas.

.

 

[Car-Guy]

Another good size dip today, so far . I'm starting to buy back in a number of individual stocks... Slowly but surly. I don't think "short term holders" like to hold on Fridays when things are so volatile, so I may buy more later today.

 

[GenXguy]

The market is about where it was the last time I bought on a dip. I think it needs to go a little lower before I do more buying.

 

[MichealKnight]

Started small JPM position

Small position, I think avg price is $133.20. Just seems like a reasonable P/E and realistic and decent dividend.

And - while this is not sophisticated at all, I believe that to some extent, large banks own the government or at very least - are a very influential member of the Ruling Class. I don't mind them holding a few of my dollars.

I am now wondering - do I hold my regional banks?

Fifth Third FITB - I'm up 71% in jut over a year.

Regions Financial RF - 50% - I sold 20% of my position.

I bought them because I feel they know their customers. Back in the day, BB/T knew my business very well, had great relationship not just with the local manager, but regional manager. IN 2008 crash he went to dinner with me and I was all ready with plans, explanations, etc and he just said "we're not here to talk about that, I know your company is going to be just fine". So I figured the regionals made good loans, and during Covid they knew how to manage things.

 

[Out of Steam]

I bought them because I feel they know their customers. Back in the day, BB/T knew my business very well, had great relationship not just with the local manager, but regional manager. IN 2008 crash he went to dinner with me and I was all ready with plans, explanations, etc and he just said "we're not here to talk about that, I know your company is going to be just fine". So I figured the regionals made good loans, and during Covid they knew how to manage things.

I'm glad to know that a multi-state bank can do this, though I've had issues with BB&T since my sister in law lost her job with a bank they bought about 15 years ago. She landed on her feet though, finding a job near home with her county government, and earning a small pension before retiring.

Is Truist the bank that now includes the merged BB&T?

 

[MichealKnight]

BBT

I'm glad to know that a multi-state bank can do this, though I've had issues with BB&T since my sister in law lost her job with a bank they bought about 15 years ago. She landed on her feet though, finding a job near home with her county government, and earning a small pension before retiring.

Is Truist the bank that now includes the merged BB&T?

YES, First Virginia - that years ago became BB/T s now merged with Truist. In the last 2 years, I have noticed a bit of a change but it's still IMO better than using a megabank. Back when I owned small businesses I wanted a bank to be big enough for my lending and credit needs - but small enough to think I'm a relevant customer, lol and it worked well for many years.

 

[Montecfo]

Small position, I think avg price is $133.20. Just seems like a reasonable P/E and realistic and decent dividend.

And - while this is not sophisticated at all, I believe that to some extent, large banks own the government or at very least - are a very influential member of the Ruling Class. I don't mind them holding a few of my dollars.

I am now wondering - do I hold my regional banks?

Fifth Third FITB - I'm up 71% in jut over a year.

Regions Financial RF - 50% - I sold 20% of my position.

I bought them because I feel they know their customers. Back in the day, BB/T knew my business very well, had great relationship not just with the local manager, but regional manager. IN 2008 crash he went to dinner with me and I was all ready with plans, explanations, etc and he just said "we're not here to talk about that, I know your company is going to be just fine". So I figured the regionals made good loans, and during Covid they knew how to manage things.

I own quite a few banks including JPM, RF and others. I have many for a while but recently added. Good to hold in rising rate environment.

 

[freedom2022]

I used to own JPM. Hold it even in 2008. They got Bear Sterns for cheap back then. Then, I took profit and sold the stocks.
Nowadays, I think JPM relies too much on their CEO: Jamie Dimon.

 

[Love This Community]

I’m holding off and might nibble a little if the trend continues tomorrow

 

[statsman]

Most of our non-cash investments are in bond funds. So, NO!, we're not buying more bond funds on the dip only to watch them drop further in a *down* stock market environment. We're already "blowing that dough" by being heavily invested in bond funds. /rant off.

 

[Winemaker]

Nibbling on the way down.

 

[ownyourfuture]

Nibbling on the way down.

Same for me. But I've definitely been unsuccessful so far.
My biggest loser is Paypal. Bought 25 shares in my HSA.
Thought it was a steal at $130
OUCH

 

[joesxm3]

Ouch of a day.

But I did buy 10 shares of NVDA ARKK and SQ one share of GOOG.

Wish I had cashed some profits last year and bought my Tales Model 3, but I was waiting for the tax credit that never came.

 

[NW-Bound]

Not buying nor selling anything today. Neither stocks nor options.

I have put options outstanding that are covered by a 6-figure cash amount. I was tempted to sell more OTM put options, but decided to be prudent and wait to see if the existing options will get assigned.

 

[SecondCor521]

I did approximately 1/6th of my likely 2022 Roth conversion amount today.