The market is down because of this exact quote:
Bought a little DIS this morning. Still think it could go down a little more but I think there's some support in this area like I said so I'm good dipping a toe in. If it goes down more I'll add...lower 120s give or take is another area I think there's some support.
It may have been the catalyst that sparked the downturn, but I think the market will be volatile until prices somewhat normalize. In my opinion, valuations are still stretched for many stocks that make up the major indices. I’m not predicting a significant drop as it’s impossible to estimate when the party will be over. But I wouldn’t be shocked if we have a 10 to 20% correction in the next 9 months. Call me a little bear or chicken little, but I just don’t believe the prices of many of the high flyers are justified. I have a sizable stock and fund portfolio, but my expectations are muted and I have built up my % of cash. I am not trying to influence anyone, but do suggest you do your homework when making investment decisions. Experts suggest a long term approach to investing, (limited buying and selling and tying to time the market) and I don’t disagree with that philosophy……, but I plan to be careful when buying any dip, as there could be better opportunities later.
LOL - could set my watch to you posting around now. :)
More than 50% of the S&P 500 stocks are more than 10% below their high and many down more than 20%…. But the indexes are only down a few percent. That means a minority of the stocks are holding up the market. Bottom line is that the decline in prices for many stocks is hard evidence that prices ran too far too fast… but why focus on the facts
The facts are.....those big companies "holding up" the market are CRUSHING it and will continue to do so in the years ahead. But why focus on earnings?
+1
Can’t say I totally disagree, but at least he’s consistent. We are overdue for a 10-15 % correction because he called for the same thing in May.
markets.businessinsider.com
If you took his advice in May you would be underwater even if there is that 10-15% correction! LOL.Can’t say I totally disagree, but at least he’s consistent. We are overdue for a 10-15 % correction because he called for the same thing in May.
A stock-market correction is likely in the near term but it will set up the next leg of the bull run, Jim Paulsen says
"I think we could be flattish, with a correction in the middle, and then earnings are a whole lot higher and it sets up the next leg," Paulsen told CNBC.
There are plenty of stocks already down 10% with just a few big names keeping the indexes afloat recently.Can’t say I totally disagree, but at least he’s consistent. We are overdue for a 10-15 % correction because he called for the same thing in May.
A stock-market correction is likely in the near term but it will set up the next leg of the bull run, Jim Paulsen says
"I think we could be flattish, with a correction in the middle, and then earnings are a whole lot higher and it sets up the next leg," Paulsen told CNBC.
CRM looking pretty pricey at 50x P/E. P/S or 11x.
U do realize you are way more focused on TSLA then the "Teslaratti".
I’m interested in PYPL. It’s gone as low as 180 and bounced off for now but I’d like it around 170 area.
Like it better if it goes to 240 area.
CRM's fair market value (via Morningstar, which is pretty conservative) is $320. Lots of room to run for the company!
Yea there is some some support in the 260s but I’m a conservative type and I like all the cushion I can get lol and things can always go lower than my targets too. So I have to be ready for that and have cash to buy more if necessary as well.
CRM is one of the stocks I bought in early March, during the first tech rotation. I think around $208. First time I have ever bought actual stocks! I'm still holding onto 12 for the long-term. Otherwise, I remain a fund/ETF guy. :)
50% of crumbs is still crumbs. If you just bought and held you would have made real gains.
So you are responding to the internet at large in this thread?
BTW, any thoughts on SQ? The price has come down a bit and it seems like they are going to increase their focus/exposure of the crypto market. If it drops below $200, I may have to buy (as part of my crypto account).
Welp the concerns are the valuations, even after this pull back, are still high, and the growing competition getting into the spaces.
PYPL kicking my butt too. The Pinterest fiasco was mind-boggling but I never expected to be down 15%. I would like to see them push Affirm harder because PYPL has the juice to own the buy-now-pay-later space.
That's why I'm staying patient and waiting. Like I said I'm conservative...don't have FOMO. If I miss out, so be it. Move on to the next thing.
I did leave room to add to PYPL, so I probably will look to add a little more.
Kicking my butt as well, but just losing gains as my cost basis is only $79 (still up 135%, but was up 280% at one point). I am looking to buy back, but I am concerned with the competition. I did sell 1/3 of my shares at $204 and 1/3 $246, on the way up as the price was getting high. I never have a problem locking in a gain. As Cramer says, bulls win, bears win and hogs get slaughtered.
