Well, I’d mentioned that I didn’t think the selling was all over yet, and sure enough, it’s gotten to be ugly again. There’s some outright panicky action going on in a lot of names out there and I think there’s probably some good nibbling opportunities here this morning in this whoosh down. So here’s what I’m doing today, just nibbling some favorites — GE might even finally be a decent buy down here below $8 per share, though I’m not personally buying it. If nothing else, let me just go on the record today as going from long-time GE bear to newfound GE bull.
I’d also mention that you might want to trim some more of your SPY and QQQ puts today if you haven’t already.
Anyway, here are the trades I’m going to make this morning.
I’m buying back about half of the shares of Palo Alto Network PANW that I’d sold when the stock was more than 30% higher than the current quote.
I’m adding a small second tranche of SNAP, making it still a very small position in the portfolio.
I’d rather be a buyer (nibbler) when people are scared, just like we were sellers (trimmers) when people were greedy.
Easy does it, be careful, be cautious…and today, let’s be a little bit opportunistic too.
I’ve been working hard on a long form analysis about our strategies and will be sending that out later today or tomorrow.
Also, this week, let’s do the Live Q&A Chat tomorrow (Tuesday) at 11am ET (instead of the usual 9am ET). I’ll also take questions over the phone on our conference call line (Dial-in: 641-715-0700 Access Code: 709981) or just hit reply on this email to send us your question.