Anyone Buying Into Today's Dip?

[kgtest]

I bought in too soon last week, so I will just keep buying in more until I am out of dough.

 

[kgtest]

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.

Naaa, read the House of Morgan. They have been doing it right for a looong time.

 

[explanade]

Kind of ridiculous, European markets and then the US tanked because of this talk of canceling all Russian oil purchases by the US and the EU.

US doesn't even buy that much directly from Russia.

But oil price futures hit $130 and took the equity index futures down.

I think Germany said they will not cancel purchases of Russian oil and gas.

Yet the market closed at the lowest levels of the day.

Some guy on CNBC said that 300 years of history shows that when markets go down, they turn up, not never go up.


BTW, not to stir a hornets nest but it appears BTC and other crypto are going down with the market these past few weeks while only gold has been going up?

So does that mean crypto can't be considered a hedge against market downturn or inflation?

 

[kgtest]

Kind of ridiculous, European markets and then the US tanked because of this talk of canceling all Russian oil purchases by the US and the EU.

US doesn't even buy that much directly from Russia.

But oil price futures hit $130 and took the equity index futures down.

I think Germany said they will not cancel purchases of Russian oil and gas.

Yet the market closed at the lowest levels of the day.

Some guy on CNBC said that 300 years of history shows that when markets go down, they turn up, not never go up.


BTW, not to stir a hornets nest but it appears BTC and other crypto are going down with the market these past few weeks while only gold has been going up?

So does that mean crypto can't be considered a hedge against market downturn or inflation?

You have to look at the entire scope and path of the oil.

In 2020, the U.S. imported about 27.7 million barrels of crude oil from Russia, which represented a 1.3% of total crude oil imports. The U.S. imported its bulk from Canada—more than 1.3 billion barrels, or 61% of America's 2.2 billion imports

How much does CANADA Import from Russia?

Canada imported almost 18,000 barrels of petroleum products from Russia in 2019, making it the country's third-largest foreign supplier after the US and Saudi Arabia, according to the Canadian Association of Petroleum Producers.

So, if Canada is importing huge amounts of Oil from the US, but the US is importing huge amounts of Oil from Canada...

Then in some weird twisted way, we are all importing oil from Russia.

I honestly have no idea what data to trust when it comes to this. I saw the other day an image that showed Canada imported 4MM barrels of Oil in December from Russia, and if we in fact import 1.3MM barrels /yr/day/month or whatever the data suggests from Canada, then we are essentially importing it from Russia, through Canada.

 

[explanade]

Russia has been offering $20 and even almost $30 discount from Brent crude.

They were supposedly not finding a lot of immediate buyers despite that discount.

 

[Mr. Tightwad]

This thread needs to be renamed "Anyone buying into the correction?"

 

[moontower]

Key is finding stocks that are WAY down but not changed

I like these stocks where neither the fundamental outlook nor future growth prospects of their business have changed (yes, higher rates hurts the DCA for growth companies):

ROKU
SPOT
BX
BAM
BLK
ABNB

 

[Bigdawg]

I'm nibbling. About 1% of my play account weekly. Have about 20 weeks remaining until I'm dry. Won't need any of this money basically ever so not too worried. My play account topped out just over 100K. Now down to 92K. I have another 20 that I could put in today. Just muddling along looking for some solid companies that have dropped 10-20% recently. Every once in awhile I will drop a bit into SPY or QQQ.

 

[Montecfo]

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

That does seem smart. I think...

 

[SecondCor521]

That does seem smart. I think...

I'll know in six months or a year...

 

[Chuckanut]

I'm not buying but I am considering one more small Roth conversion.

 

[RobLJ]

Used some of cash to buy some mid/large cap value today (2.8% of portfolio). If the market goes down another 3-5 %, I'll do it again, but to recharge the international portion. I'm trying to keep close to a 55% stock allocation; I'm down about 7.5% YTD (although a chunk of that is bond funds).
Cash allocation was 19% before purchases; I've been waiting for a correction to redeploy some of the cash.