OT: Stock and Investment Talk

[T2Kplus20]

Trouble Ahead: Data Shows Boomers Have Most of Their Money in Stocks as Market Prepares for a Correction — Here’s What You Can Do

Despite stocks bouncing back on the morning of Jan. 31, the S&P 500 is still on pace for its worst month since Oct. 2020 -- and the slide could spell trouble for seniors who are heavily invested...

www.yahoo.com

Data from Vanguard Group shows that among their retail clients ages 65 through 74, 17% have a whopping 98% or more of their portfolios in stocks, The Wall Street Journal reports. The outlet also reports that 40% of Fidelity 401(k )investors aged 60 through 69 hold 67% of more of their portfolios in stocks.

I don’t think it that unusual. I trade in and out of the market and might be in the market 70% stocks at one time but 50% of the time might be at 20%. My siblings use financial advisors to manage their accounts and they are in the market 70% stocks the last few years, one managed by Fidelity, and they live off their pension and social security. These investors that hold a substantial amount in stocks probably are the 1-5% and the assets are their inheritance for the kids. My sister in law doesn’t care about the performance since she said it will all go to the kids, already 5 million, how much will it be in 20 years?

When it comes to data like this, context counts. The Vanguard stat may be perfectly reasonable for that 17% to have such a high % of equities. Same for the Fidelity cohort. Our benchmark is "retirement" in 15 years, which would put me in the 60-69 year old group (but not my wife, as she likes to point out!). Our general plan is to use PRWCX more and more as time goes on which is a 2/3 equity 1/3 bond and fixed asset allocation fund. This would put us in the Fidelity camp.

 

[jtung230]

When it comes to data like this, context counts. The Vanguard stat may be perfectly reasonable for that 17% to have such a high % of equities. Same for the Fidelity cohort. Our benchmark is "retirement" in 15 years, which would put me in the 60-69 year old group (but not my wife, as she likes to point out!). Our general plan is to use PRWCX more and more as time goes on which is a 2/3 equity 1/3 bond and fixed asset allocation fund. This would put us in the Fidelity camp, which is fine.

I think the age group is your actual age, not age you would like to retire.

 

[T2Kplus20]

I think the age group is your actual age, not age you would like to retire.

Yes, that's my point. We are almost all equities now, but will be 67/33% when we reach that age group.

 

[RU-05]

Shiller PE ratio for the S&P 500:
37.18 +0.19 (0.52%)
4:00 PM EST, Fri Feb 4

Mean:	16.91
Median:	15.86
Min:	4.78	(Dec 1920)
Max:	44.19	(Dec 1999)

PE ratio is based on average inflation-adjusted earnings from the previous 10 years, known as the Cyclically Adjusted PE Ratio (CAPE Ratio) or Shiller PE Ratio.

See:. https://www.forbes.com/advisor/investing/shiller-pe-ratio/

Definitely another good metric to consider, but while it's aim is to "smooth(s) out the short-term earnings volatility experienced by its constituent companies", it is now carrying a year+ worth of suppressed earnings, because of covid shutdowns, which makes the current market look more expensive than it is.

Would be interesting to calculate the cape while excluding that period.

 

[RU in IM]

Trouble Ahead: Data Shows Boomers Have Most of Their Money in Stocks as Market Prepares for a Correction — Here’s What You Can Do

Despite stocks bouncing back on the morning of Jan. 31, the S&P 500 is still on pace for its worst month since Oct. 2020 -- and the slide could spell trouble for seniors who are heavily invested...

www.yahoo.com

Data from Vanguard Group shows that among their retail clients ages 65 through 74, 17% have a whopping 98% or more of their portfolios in stocks, The Wall Street Journal reports. The outlet also reports that 40% of Fidelity 401(k )investors aged 60 through 69 hold 67% of more of their portfolios in stocks.

I don’t think it that unusual. I trade in and out of the market and might be in the market 70% stocks at one time but 50% of the time might be at 20%. My siblings use financial advisors to manage their accounts and they are in the market 70% stocks the last few years, one managed by Fidelity, and they live off their pension and social security. These investors that hold a substantial amount in stocks probably are the 1-5% and the assets are their inheritance for the kids. My sister in law doesn’t care about the performance since she said it will all go to the kids, already 5 million, how much will it be in 20 years?

This analysis is based on what might be only a small to moderate part of someone’s assets. I am 58; 95% of my assets in my main investment account are in stocks (so it looks like I have an excessive concentration for someone my age). However, this stock portfolio represents only 46% of my non 401k assets, as the rest is in banks and Ibonds. I am in banking, and there is a staggering amount of deposits in banks and levels jumped a crap ton since the beginning of the pandemic. Currently, deposits in commercial banks total $18.1 trillion, up 31% since the pandemic. So, the actual % of assets in stocks held by boomers is likely much lower. Also, people could be diversified in other assets such as real estate investments. And as far as my 401k, I have two defined contribution plans, one focused on asset preservation and the other 50/50 in stocks. A proper assessment of risk would include assessing all assets someone owns.

 

[tom1944]

When it comes to data like this, context counts. The Vanguard stat may be perfectly reasonable for that 17% to have such a high % of equities. Same for the Fidelity cohort. Our benchmark is "retirement" in 15 years, which would put me in the 60-69 year old group (but not my wife, as she likes to point out!). Our general plan is to use PRWCX more and more as time goes on which is a 2/3 equity 1/3 bond and fixed asset allocation fund. This would put us in the Fidelity camp.

I think you really need to consider other sources of income when you determine your allocation for retirement. If someone has investment property that provides a stable monthly income or a decent pension or even someone who worked until 70 and both spouses have max social security. They all could be more aggressive with their allocation in comparison to someone with only a 401k and lesser social security for retirement

And it goes without saying does your stable fixed monthly income cover your expenses

 

[rutgersdave]

This analysis is based on what might be only a small to moderate part of someone’s assets. I am 58; 95% of my assets in my main investment account are in stocks (so it looks like I have an excessive concentration for someone my age). However, this stock portfolio represents only 46% of my non 401k assets, as the rest is in banks and Ibonds. I am in banking, and there is a staggering amount of deposits in banks and levels jumped a crap ton since the beginning of the pandemic. Currently, deposits in commercial banks total $18.1 trillion, up 31% since the pandemic. So, the actual % of assets in stocks held by boomers is likely much lower. Also, people could be diversified in other assets such as real estate investments. And as far as my 401k, I have two defined contribution plans, one focused on asset preservation and the other 50/50 in stocks. A proper assessment of risk would include assessing all assets someone owns.

That’s a good point.

 

[T2Kplus20]

I think you really need to consider other sources of income when you determine your allocation for retirement. If someone has investment property that provides a stable monthly income or a decent pension or even someone who worked until 70 and both spouses have max social security. They all could be more aggressive with their allocation in comparison to someone with only a 401k and lesser social security for retirement

And it goes without saying does your stable fixed monthly income cover your expenses

Very true. Sources of income are a big factor for asset allocation in retirement.

 

[T2Kplus20]

However, this stock portfolio represents only 46% of my non 401k assets, as the rest is in banks and Ibonds.

You are such a bear! LOL.

But don't ask about our cash reserves. :)

 

[RU in IM]

You are such a bear! LOL.

But don't ask about our cash reserves. :)

I’m retiring this year; I’m not in my 40’s like you. No need to take excessive risks. As a dollar amount, my stock portfolio is significant…… I’m not a bear, I’m an investor that understands markets quite well, and even more so, my financial position and financial needs.

 

[rutgersguy1]

Weakness into the close today.

FB still fishing around for at least a short term tradeable bottom. I think that next level I mentioned in the low 200s give or take is calling to it lol.

Staples holding up decently on a relative basis. Even CLX got a bounce off lousy earnings and bad guidance and not a cheap multiple.

 

[T2Kplus20]

Weakness into the close today.

FB still fishing around for at least a short term tradeable bottom. I think that next level I mentioned in the low 200s give or take is calling to it lol.

Staples holding up decently on a relative basis. Even CLX got a bounce off lousy earnings and bad guidance and not a cheap multiple.

Not enough down to add to positions. Still watching a bunch of things. Perhaps tomorrow?

It actually popped back up a bit in the last 5 mins. LOL! Silly algorisms.

 

[rutgersguy1]

Peloton names tech exec Barry McCarthy to replace CEO John Foley, unveils plan to cut costs

Peloton said it expects to slash roughly $800 million in annual costs and reduce capital expenditures by about $150 million this year.

www.cnbc.com

 

[T2Kplus20]

Peloton names tech exec Barry McCarthy to replace CEO John Foley, unveils plan to cut costs

Peloton said it expects to slash roughly $800 million in annual costs and reduce capital expenditures by about $150 million this year.

www.cnbc.com

They are begging to be bought!

 

[T2Kplus20]

FYI - saw an interesting tidbit yesterday. During the last 7 periods of Fed rate increases, including the most recent from 2015 to 2018, the S&P went up (and some times, went up significantly). Plenty of volatility, but at the end of the day, a positive stock market.

Bears be careful.

 

[RUAldo]

They are begging to be bought!

Quite the opposite. My read is they are not looking to sell. The new CEO knows content and financial discipline so my guess is turnaround not sale.

 

[rutgersguy1]

They are begging to be bought!

Mixed prognostication on that. Some think he's a "serious" CEO from Spotify and Netflix and will try to right the company and others think he's been brought in to clean up the company for sale.

Whatever it is, it still depends on the founder whether he's CEO or executive chairman. He still has control because of the amount of shares he has, so depends on what he wants to do.

 

[T2Kplus20]

Quite the opposite. My read is they are not looking to sell. The new CEO knows content and financial discipline so my guess is turnaround not sale.

Make it look better for a higher buyout offer! :)

 

[T2Kplus20]

FYI - for those looking for dividend stocks:

Comcast, Chevron, and 7 more companies that boosted their stock dividends this week

Comcast, Chevron and Kimberly-Clark are among several dividend stocks that have recently announced plans to lift their quarterly payouts to investors.

www.fidelity.com

 

[RutgersNo1]

FB got murdered.

 

[rutgersguy1]

FB got murdered.

Murder is still ongoing lol. Haven't seen many positive analysts/pundits for it and many are getting out of it. Sentiment is so negative and it's showing weak relative strength. Eventually, it could be a contrarian indicator.

I can be a knife catcher at times and I'm willing for companies that I think are solid. IMO they are and are drowning in cash and multiple wise isn't expensive especially compared to some other things out there. They've had 3 moves of such magnitude in their history and eventually in time there was a nice recovery after. I've said above there could be pain going forward and there are issues but I think in the end they will get through it and comps after the next quarter or two get easier. FCF generating beasts like this aren't something you get everyday so I'm good with it. They also have 10s of billions authorized buyback to deploy if they want as well. Never a fan of those as much as divys because most companies mistime the buys (FB bought in the 330s) but it can provide some support as well.

I said a couple times above, low 200s give or take (say 190-210) is the next level and it feels like it will get there. When this was above 300s (I didn't think at all about buying it there) not a peep from any pundits about anything and nothing negative, now 40%+ plus drop and its run for the hills and nothing positive. Most of their PTs whether they are at neutral or buy range from the high 200s to high 300s. I'll go with the Warren Buffett saying ...."be fearful when others are greedy and be greedy when others are fearful" It may take time but I think they will get through it in time...just like MSFT, KO, PG examples I mentioned above. ADBE was another example I saw mentioned recently that had to go through a transition.

 

[rutgersguy1]

FYI - for those looking for dividend stocks:

Comcast, Chevron, and 7 more companies that boosted their stock dividends this week

Comcast, Chevron and Kimberly-Clark are among several dividend stocks that have recently announced plans to lift their quarterly payouts to investors.

www.fidelity.com

Always a fan of staples and names like KMB, CHD. Those and names like KO, PEP, CL, PG, CLX, UL. GIS etc... are all names I've traded in the past and some I have core positions from many years ago. Some are near highs now so wouldn't get into them at the moment but if/when they get beat down they can be attractive.

 

[RUAldo]

Murder is still ongoing lol. Haven't seen many positive analysts/pundits for it and many are getting out of it. Sentiment is so negative and it's showing weak relative strength. Eventually, it could be a contrarian indicator.

I can be a knife catcher at times and I'm willing for companies that I think are solid. IMO they are and are drowning in cash and multiple wise isn't expensive especially compared to some other things out there. They've had 3 moves of such magnitude in their history and eventually in time there was a nice recovery after. I've said above there could be pain going forward and there are issues but I think in the end they will get through it and comps after the next quarter or two get easier. FCF generating beasts like this aren't something you get everyday so I'm good with it. They also have 10s of billions authorized buyback to deploy if they want as well. Never a fan of those as much as divys because most companies mistime the buys (FB bought in the 330s) but it can provide some support as well.

I said a couple times above, low 200s give or take (say 190-210) is the next level and it feels like it will get there. When this was above 300s (I didn't think at all about buying it there) not a peep from any pundits about anything and nothing negative, now 40%+ plus drop and its run for the hills and nothing positive. Most of their PTs whether they are at neutral or buy range from the high 200s to high 300s. I'll go with the Warren Buffett saying ...."be fearful when others are greedy and be greedy when others are fearful" It may take time but I think they will get through it in time...just like MSFT, KO, PG examples I mentioned above. ADBE was another example I saw mentioned recently that had to go through a transition.

Hard to believe these issues all culminated in one quarter. TikTok has been around for a while. User engagement doesn’t drop off in a matter of months. It erodes over time. Where is the Metaverse plan beyond spending billions of dollars on engineers? Zuckerberg better have a few tricks up his sleeve.

 

[RutgersNo1]

Murder is still ongoing lol. Haven't seen many positive analysts/pundits for it and many are getting out of it. Sentiment is so negative and it's showing weak relative strength. Eventually, it could be a contrarian indicator.

I can be a knife catcher at times and I'm willing for companies that I think are solid. IMO they are and are drowning in cash and multiple wise isn't expensive especially compared to some other things out there. They've had 3 moves of such magnitude in their history and eventually in time there was a nice recovery after. I've said above there could be pain going forward and there are issues but I think in the end they will get through it and comps after the next quarter or two get easier. FCF generating beasts like this aren't something you get everyday so I'm good with it. They also have 10s of billions authorized buyback to deploy if they want as well. Never a fan of those as much as divys because most companies mistime the buys (FB bought in the 330s) but it can provide some support as well.

I said a couple times above, low 200s give or take (say 190-210) is the next level and it feels like it will get there. When this was above 300s (I didn't think at all about buying it there) not a peep from any pundits about anything and nothing negative, now 40%+ plus drop and its run for the hills and nothing positive. Most of their PTs whether they are at neutral or buy range from the high 200s to high 300s. I'll go with the Warren Buffett saying ...."be fearful when others are greedy and be greedy when others are fearful" It may take time but I think they will get through it in time...just like MSFT, KO, PG examples I mentioned above. ADBE was another example I saw mentioned recently that had to go through a transition.

Appreciate the insights.

 

[rutgersguy1]

Hard to believe these issues all culminated in one quarter. TikTok has been around for a while. User engagement doesn’t drop off in a matter of months. It erodes over time. Where is the Metaverse plan beyond spending billions of dollars on engineers? Zuckerberg better have a few tricks up his sleeve.

That's why part of me in the back of my mind wonders about how artificially negative they want things to sound. It's just a feeling but the business is still a strong business even at lower growth rates. SNAP/PINS are impervious to Apple privacy controls but FB is hit that bad (10 billion)? Again smells fishy. TikTok has been around for a bit and the privacy stuff has been there also for a half a year. So you're right..suddenly it all pops up as massive issues in one quarter? Again smells fishy.

Regardless, of whether they artificially pumped the negative or not, IMO their business is fine and I think will see its way through in time.

 

[T2Kplus20]

That's why part of me in the back of my mind wonders about how artificially negative they want things to sound. It's just a feeling but the business is still a strong business even at lower growth rates. SNAP/PINS are impervious to Apple privacy controls but FB is hit that bad (10 billion)? Again smells fishy. TikTok has been around for a bit and the privacy stuff has been there also for a half a year. So you're right..suddenly it all pops up as massive issues in one quarter? Again smells fishy.

Regardless, of whether they artificially pumped the negative or not, IMO their business is fine and I think will see its way through in time.

They pumped up the negatives big time. Their business is doing extremely well and growing. They also have a long history of sandbagging guidance.

 

[RUAldo]

That's why part of me in the back of my mind wonders about how artificially negative they want things to sound. It's just a feeling but the business is still a strong business even at lower growth rates. SNAP/PINS are impervious to Apple privacy controls but FB is hit that bad (10 billion)? Again smells fishy. TikTok has been around for a bit and the privacy stuff has been there also for a half a year. So you're right..suddenly it all pops up as massive issues in one quarter? Again smells fishy.

Regardless, of whether they artificially pumped the negative or not, IMO their business is fine and I think will see its way through in time.

What strikes me as odd is how little we are hearing about the metaverse in the last month. MTTR has gotten crushed along with FB. Similarly, what the hell is Square/Block doing. They hyped up blockchain and changed their name - now crickets. I’m taking a beating in that stock and sold some today based on Apple phone to phone payment news.

 

[jtung230]

You guys are trying to talk yourself into it. Take a step back. Take 2 steps back and re-evaluate.

 

[T2Kplus20]

What strikes me as odd is how little we are hearing about the metaverse in the last month. MTTR has gotten crushed along with FB. Similarly, what the hell is Square/Block doing. They hyped up blockchain and changed their name - now crickets. I’m taking a beating in that stock and sold some today based on Apple phone to phone payment news.

MTTR is a SPAC and look at their sales (no profit yet). Night and day from FB.

SQ announced a decentralized crypto exchange, but no details on timing or features.

 

[T2Kplus20]

You guys are trying to talk yourself into it. Take a step back. Take 2 steps back and re-evaluate.

Level-headed analysis:

Meta Reports Mixed Q4 Results; Sharp Decline in the Stock Created a Buying Opportunity; $400 FVE (Morningstar)

Analyst Note | Updated Feb 03, 2022
Meta Platforms, the parent of Facebook, reported mixed fourth-quarter 2021 results. Revenue was slightly ahead of expectations but the firm missed on the bottom line due to higher investments in not only the reality labs segment but also in reels and in overall improvement of its advertising back-end. The firm’s first-quarter 2022 revenue guidance was below the consensus estimates, driving the stock down 23% in after-hours trading. We have slightly lowered our revenue growth assumptions for Meta, resulting in a $400 fair value estimate, 1% lower than our previous valuation. We don’t think the market’s reaction is warranted and believe wide-moat Meta’s shares now present an attractive investment opportunity.

Total fourth-quarter revenue came in at $33.7 billion, up 20% year over year. Advertising revenue increased 25% as businesses continued to allocate their ad dollars to Meta’s platforms. The family monthly active people count increased to 3.59 billion during the quarter, from 3.58 billion in the previous quarter and 3.3 billion the year before. Average revenue generated per person increased 9% from last year and 15% from the prior quarter, indicative of healthy advertising demand. With increase in investments in metaverse and the firm’s advertising offerings, operating margin declined nearly five percentage points to around 33% during the quarter.

Management believes inflation-related cost pressures and limited access to data due to Apple’s policy changes may slow growth in demand and overall advertising revenue, most of which we had already modeled into our projections. But we think Meta remains an attractive business. Its core advertising business, with nearly a 50% operating margin, continues to perform well. While possibly lower ad prices (mainly for short form video ads) and Apple’s iOS changes may hurt ad revenue growth more than we initially expected, we think these impacts will be short-term.

 

[RUAldo]

MTTR is a SPAC and look at their sales (no profit yet).

Yes, but they actually have real products and customer base including 13% of Fortune 1000 companies.

 

[T2Kplus20]

Yes, but they actually have real products and customer base including 13% of Fortune 1000 companies.

I think they have a very good product. However, even for a price/sales company, the valuation is very high. I bet it goes down more. At the right price, excellent long hold opportunity!

 

[rutgersguy1]

You guys are trying to talk yourself into it. Take a step back. Take 2 steps back and re-evaluate.

Thanks for the input. I appreciate the caution.

 

[jtung230]

Level-headed analysis:

Meta Reports Mixed Q4 Results; Sharp Decline in the Stock Created a Buying Opportunity; $400 FVE (Morningstar)

Analyst Note | Updated Feb 03, 2022
Meta Platforms, the parent of Facebook, reported mixed fourth-quarter 2021 results. Revenue was slightly ahead of expectations but the firm missed on the bottom line due to higher investments in not only the reality labs segment but also in reels and in overall improvement of its advertising back-end. The firm’s first-quarter 2022 revenue guidance was below the consensus estimates, driving the stock down 23% in after-hours trading. We have slightly lowered our revenue growth assumptions for Meta, resulting in a $400 fair value estimate, 1% lower than our previous valuation. We don’t think the market’s reaction is warranted and believe wide-moat Meta’s shares now present an attractive investment opportunity.

Total fourth-quarter revenue came in at $33.7 billion, up 20% year over year. Advertising revenue increased 25% as businesses continued to allocate their ad dollars to Meta’s platforms. The family monthly active people count increased to 3.59 billion during the quarter, from 3.58 billion in the previous quarter and 3.3 billion the year before. Average revenue generated per person increased 9% from last year and 15% from the prior quarter, indicative of healthy advertising demand. With increase in investments in metaverse and the firm’s advertising offerings, operating margin declined nearly five percentage points to around 33% during the quarter.

Management believes inflation-related cost pressures and limited access to data due to Apple’s policy changes may slow growth in demand and overall advertising revenue, most of which we had already modeled into our projections. But we think Meta remains an attractive business. Its core advertising business, with nearly a 50% operating margin, continues to perform well. While possibly lower ad prices (mainly for short form video ads) and Apple’s iOS changes may hurt ad revenue growth more than we initially expected, we think these impacts will be short-term.

What was the reason you didn’t like MS’s analysis on Tesla?

 

[rutgersguy1]

Facebook market cap falls below $600 billion — which could actually help it dodge new antitrust scrutiny

The milestone points to one of the challenges of crafting laws that target the tech industry.

www.cnbc.com

 

[T2Kplus20]

What was the reason you didn’t like MS’s analysis on Tesla?

Here is M-Star's TSLA analysis. I bought in at $570 (and didn't add to the position during this recent downturn).

Maintaining $700 FVE as Tesla Reports Strong Fourth-Quarter Results; Shares Overvalued

Analyst Note | Updated Jan 27, 2022
Having updated our model to incorporate Tesla's detailed fourth-quarter and full-year results, we are maintaining our $700 fair value estimate and narrow moat rating. Our near-term outlook is largely unchanged, as we continue to forecast Tesla will deliver over 1.5 million vehicles in 2022. However, we have reduced our medium-term growth assumptions. We see the affordable sedan and SUV vehicle platform being delayed as management prioritizes the completion of other new vehicles first. Our long-term outlook for Tesla--which assumes the company reduces its cost of goods sold through cheaper batteries and manufacturing efficiencies--is unchanged. Separately, we have incorporated our updated U.S. corporate tax rate assumption, which offset the valuation impact of the delay in the launch of the affordable vehicle platform.

At current prices, we view Tesla shares as overvalued, trading in 2-star territory. We think the market continues to price in a scenario where Tesla becomes a top-three automaker in global vehicles sold by 2030. As such, although the stock is down roughly 25% from its 52-week high, we still think the current valuation is expensive.

In addition to management saying it would delay the affordable vehicle platform, our other key takeaway from Tesla's results was that the company is likely to face near-term cost increases exceeding recent price increases, which confirmed our prior thinking. We see higher costs coming from higher raw materials and the startup of two new manufacturing plants, one in Austin, Texas, and the other in Berlin. While we forecast Tesla will see gross margins compress in 2022, we think this will be temporary and expect gross margin expansion to resume in 2023. Over the long term, we forecast automotive gross margins will expand from over 29% in 2021 to nearly 39% by 2031. The expansion will be driven by lower manufacturing and the growth of high-margin autonomous driving software.

 

[T2Kplus20]

Facebook market cap falls below $600 billion — which could actually help it dodge new antitrust scrutiny

The milestone points to one of the challenges of crafting laws that target the tech industry.

www.cnbc.com

The bears tried to derail today's rally around 2pm'ish.....but the bulls fought back. :)

 

[T2Kplus20]

CMG pops, beats earnings and proves pricing power:

Chipotle shares rise on better-than-expected earnings, CEO says chain is 'fortunate' it can raise prices

The burrito chain is facing higher costs for labor and ingredients, but price hikes helped offset their impact.

www.cnbc.com

Huge beat for ENPH! Glad I bought this dip:

Enphase Energy jumps after company posts record revenue, gives upbeat guidance

Solar energy company Enphase beat analyst expectations during the fourth quarter.

www.cnbc.com

 

[T2Kplus20]

Earnings continue to be super strong this season! Next month CPI data is released tomorrow. Big Day! :)

 

[rutgersguy1]

FB finally gets a little bit of a bounce. A dead cat or not we'll see in some time, could always retest too. First time I've heard someone (Mr Wonderful) full throated in favor of it. Just one person's opinion of course.

Out of the rest of my MSFT and AMZN that I was holding from a recent trade. Sold both slightly above where I sold the first lots of each but basically against the same resistance areas.