Anybody buying on this downturn?

[disneysteve]

Agree with you 100%. I just see it as a long-term opportunity. I have little doubt that my shares will return at least 2-3x over the course of the next 2-3 years, once travel returns mostly to normal. I see it as a reasonable bet. However, there's always the chance of losses, so in the end, it's only a few thousand dollars, and I can easily survive it doing poorly.

Same here. The 700 shares of JETS I now have represents about 0.75% of our portfolio. It's hardly a big gamble on my part.

[kork13]

Its tough to be contrarian in a sector. You need a big cash balance to be effective and very patient to initially act. My gut says its way too early to invest in that sector. With social distancing mandates the sector will not at all operate profitably at 50% occupancy which will probably be implemented until there is a vaccine.

In this related sector I really like WLFC from a very long term perspective but its just too early to act upon it.

Agree with you 100%. I just see it as a long-term opportunity. I have little doubt that my shares will return at least 2-3x over the course of the next 2-3 years, once travel returns mostly to normal. I see it as a reasonable bet. However, there's always the chance of losses, so in the end, it's only a few thousand dollars, and I can easily survive it doing poorly.

[disneysteve]

the thing is that its hard to wait until that point in time because the minute people start to smell a sector recovery the stocks will jump.

Yeah, I'd rather be buying on the way down and then sit back and wait for the recovery.

[~bs]

Its tough to be contrarian in a sector. You need a big cash balance to be effective and very patient to initially act. My gut says its way too early to invest in that sector. With social distancing mandates the sector will not at all operate profitably at 50% occupancy which will probably be implemented until there is a vaccine.

In this related sector I really like WLFC from a very long term perspective but its just too early to act upon it.

the thing is that its hard to wait until that point in time because the minute people start to smell a sector recovery the stocks will jump.

[JBinKC]

That's why I layered orders upon orders as the broader market was falling fast. Acquired another 10sh this morning at $11.50. I don't even know how low my orders go, but this is kinda looking like a limbo bar.

Its tough to be contrarian in a sector. You need a big cash balance to be effective and very patient to initially act. My gut says its way too early to invest in that sector. With social distancing mandates the sector will not at all operate profitably at 50% occupancy which will probably be implemented until there is a vaccine.

In this related sector I really like WLFC from a very long term perspective but its just too early to act upon it.

[kork13]

As usual, me buying something has caused it to crater even lower. I bought at $12.50 yesterday and it's below $11.50 now.

That's why I layered orders upon orders as the broader market was falling fast. Acquired another 10sh this morning at $11.50. I don't even know how low my orders go, but this is kinda looking like a limbo bar.

ETA: I checked -- apparently i have orders for JETS down to as low as $10.50, though they're kinda old. The order that just went through was put in back in March, and was due to expire next week. I have alot of orders from late March/early April that are about to start timing out over the next 2-3 weeks.

[disneysteve]

Looks like I’m the proud owner of 100 more shares of JETS. This order executed this morning. The good thing is it lowers my average cost basis.

ETA ticker symbol

As usual, me buying something has caused it to crater even lower. I bought at $12.50 yesterday and it's below $11.50 now.

[~bs]

Haven't been buying a crazy amount recently. I changed jobs last year, and become eligible for the 401k for this new job in october (nowadays a 1 year wait period is pretty outdated imo). So I'm basically building money market funds in case business and real estate opportunities arise & because I'll need to fund 19.5k in 401k contributions in 3 months plus make my 25% business SEP IRA contribution when I file my extended return in october . Would be nice to DCA those funds at lower cost if the market drops, but not going to lose sleep over it. Going to fund either way.

But yeah, like I said before this whole pandemic thing started, "he who owns the gold..... " Recessions are opportunities for those who plan ahead to get ahead.

[~bs]

I bought a lot of JETS and that's a 5 year play I think. Then maybe bailing out. I think airlines will recover but it'll take awhile.

Yeah, the major risk is if some of the bigger components goes belly up.... but it doesn't seem like that would happen because of all the bailouts.

They're expensive right now, but as far as sector plays go, I think growth funds are where it's going to be over the next 5 years or so. value will continue lagging. If you look at growth and the NASDAQ, they're basically recovered all losses since the pandemic began, with good reason. Investors are upset because amazon said they'll plow their entire 5B 1st quarter profit back into the company. Long term, the investment back into the company will pay off, and the company will decimate the already beaten down retail sector even more.

[disneysteve]

What is Wellesley?!

It’s a Vanguard fund.

https://investor.vanguard.com/mutual-funds/profile/VWINX

[Scallywag]

Roth IRA

7k to Wellesley at close of market today. Boring.

I had sold United health care a few weeks ago so that is where this cash comes from.

What is Wellesley?!

[kork13]

Yep, I had a pair of 20sh trades go through for JETS today, at $12.50 & $12.00. Also had a BRK.B order go through at $170.

[Jluke]

Roth IRA

7k to Wellesley at close of market today. Boring.

I had sold United health care a few weeks ago so that is where this cash comes from.

[LivingAlmostLarge]

I bought a lot of JETS and that's a 5 year play I think. Then maybe bailing out. I think airlines will recover but it'll take awhile.

[disneysteve]

Thanks! Risky play, but share prices are low and possilby lots of upside if they recover!

I'm not looking to day trade. I'm happy to hold it for a few years if that's what it takes. The airlines will recover eventually.