Prognightmare said:
RSP715 said:
I know you guys are traders, but I've got a significant amount of cash I want to put to work in low debt/high quality names late this year/early next. With a corona spike and contested election that could slip into 21, don't you think we see another dip? Maybe not as big as march, but the market doesn't like uncertainty, and I see it a mile away. Right now my strategy is to wait until after the election and just start buying small chunks on down days and average in over the six months- year I would say. This is very long term money for me. Recommendations or thoughts?
I'd layer into the market instead of buying all at once. I'd also not commit more than 25% of the cash prior to a volatile election in 30days, why take on that kind of risk?
If a President isn't named before January, which seems very likely, market hates uncertainty and we will probably have significant swings.
Agree with prior comments and I'll add, you likely want a diversified portfolio when you are done making your selections. Tech names you are waiting on right now, as TecRec indicated there is very little upside and significant downside. If you want a Chevron, Delta Airlines or $WYNN in your portfolio, you're not going to have a better opportunity then right now.
You mention that you are in it for the long-term, and it's hard to imagine that DAL doesn't test $50/share in the next 3 or 4 years, and that Chevron doesn't test $90+ in the next 2 to 3 years. Pretty good returns from current levels. A major Biden gaffe, or a vaccine announcement and you'd be buying CVX, DAL or WYNN at $8.00 to $10.00 more per share than current levels.
Lastly, everyday is a good day to buy $NVDA, and we mentioned $485 as an entry point a week or so ago, but take this with a grain of salt as I'm a NVDA permabull.
