Anybody buying on this downturn?

[james.hendrickson]

let's not get personal here. I am a business owner and face massive uncertainties just like folks in the stock market and possibly much more. I have a $20K payroll to meet every two weeks, plus about $12K in rents, etc., etc. And I actually purchased a few stocks on Friday.

No seriously, there are a lot of good companies trading at less than book value. If you can lock up your holdings until all this blows over, there is money to be made.

[TexasHusker]

You mean, you should think this through and not kid yourself? I have a feeling your post will not age well. Ill be sure to remind you when that time comes

let's not get personal here. I am a business owner and face massive uncertainties just like folks in the stock market and possibly much more. I have a $20K payroll to meet every two weeks, plus about $12K in rents, etc., etc. And I actually purchased a few stocks on Friday.

[Singuy]

Yeah don't forget most companies planned for any impending recession because the bull market lasted so long. Even Tesla with it's live on the edge philosophy raised capital before the stock market crash. Companies, especially those that are big names are not stupid.

[james.hendrickson]

I'm with Singuy here - I'm seeing some stocks are trading for less than their book value. Keep your eyes peeled guys, there are going to be some fortunes made if you can keep your head.

[rennigade]

Bear markets wash out a whole crop of “never buy stocks again” investors. The last one did that for me and I went a different direction investment wise.

Yet here you are talking about stocks every other post. If you're out of the game, stay out of the game. You've done well with real estate. That seems to be your bread and butter. Save the doom and gloom for somewhere else. Most of us arent drinking that kool aid. I will say though, im glad people are finally taking this serious. Even my idiot FIL finally gets it...and he's as conservative as they come.

[rennigade]

with everything heading toward lockdown, there is no economy. How many days can an economy be locked down? How many days can businesses, big and small, go with zero revenue? How many people can go two weeks with zero pay? Without being able to buy gas or groceries? Or their heart medicine?

Only businesses with hearty cash reserves are going to survive this. Barring some unexpected remarkably good news in the next few days, we are heading for a “new normal” in this country that will be profound. It could take decades for things like the stock market to recover. Let’s think through this and not kid ourselves.

You mean, you should think this through and not kid yourself? I have a feeling your post will not age well. Ill be sure to remind you when that time comes

[TexasHusker]

What he was trying to say earlier was BS then. Can't have it both ways. He is buying while telling others to jump off the sinking ship.

Bear markets wash out a whole crop of “never buy stocks again” investors. The last one did that for me and I went a different direction investment wise.

[TexasHusker]

Agreed with Singuy & DS... I still believe wholeheartedly in the American (and global) economy. That's really the bottom line here -- confidence in the overall economy &a willingness to see it through.

with everything heading toward lockdown, there is no economy. How many days can an economy be locked down? How many days can businesses, big and small, go with zero revenue? How many people can go two weeks with zero pay? Without being able to buy gas or groceries? Or their heart medicine?

Only businesses with hearty cash reserves are going to survive this. Barring some unexpected remarkably good news in the next few days, we are heading for a “new normal” in this country that will be profound. It could take decades for things like the stock market to recover. Let’s think through this and not kid ourselves.

[Singuy]

What he was trying to say earlier was BS then. Can't have it both ways. He is buying while telling others to jump off the sinking ship.

[disneysteve]

Buy low, sell high. On March 11, 2020 when the DJIA was 23,500 I sold (sell high). On March 16, 2020 when the DJIA was 21,300 I bought more (buy low).

Ah, that's very different than what you seemed to be saying earlier. It sounded like you were planning to stay out for a while. You market-timed and won, so congrats on that. Of course, market timing is a crapshoot but it worked this time.

[QuarterMillionMan]

I don't understand what this means. Stock market always trended up overtime. Has it ever gone to zero or less? How is buying and hold is dead? Like will I ever owe money to vanguard if I keep my index funds? If not then what exactly is sinking?

Buy low, sell high. On March 11, 2020 when the DJIA was 23,500 I sold (sell high). On March 16, 2020 when the DJIA was 21,300 I bought more (buy low). I'm using the volatility to my advantage while others are putting their heads in the sand not wanting to see how much unrealized losses occurred. Commission-free trading too so why not. And if the DJIA runs up to 23,500 again or more I will sell again. Lather, rinse, repeat. Here is proof if anyone thinks I'm bs'ing.

[kork13]

I put in a limit order to pick up 100 more of JETS if it drops 15% below what I paid on Friday.

I decided to do the same this morning. Smallish amount (50sh), but enough to have a taste & see how it goes. It's a pretty aggressive limit price (still another ~8% below current), but it may still work in my favor. JETS is 100% speculative for me (while the rest of my purchases are planned & intentional), so I'm not getting too wrapped up in it though.

Currently at 3/7 orders executed, and another should execute anytime (currently $2/.9% below my limit price).

[Singuy]

A cure as in using off the shelf product which there are lots of clinical trials and experiments going on. Some seem pretty credible. If they can reduce death rates down to flu levels then the fear will dissipates.

[disneysteve]

My next round of limit orders are executing in rapid succession this morning

I put in a limit order to pick up 100 more of JETS if it drops 15% below what I paid on Friday.

[disneysteve]

My only concern is that a cure will likely bring a bull sentiment back which doesn't give us a lot of time to buy the dip.

There will not be a cure anytime soon, if ever. Viruses are tough that way. There will eventually be a vaccine but that will take many months at best.