Buying opportunities in the wake of QE3

[jpr62902]

Any out there? Right now, I'm looking at Philip Morris International (PM), Altria (MO), Phillips 66 (PSX), Navios Maritime Holdings (NM) and others, but they're all over bought (thanks for nuthin' Mr. Bernanke).

Sooo .... Anyone got a line on some good deals right now?

 

[Kane]

Buy a little SKF for when the sugar high wears off and the bubble bursts.

 

[waybomb]

SKF, love it. Great hedge. Moves at least twice the market pace, inversly. But you gotta have a way to get out instantly, or you could loose yer arse big time.

 

[jpr62902]

SKF, love it. Great hedge. Moves at least twice the market pace, inversly. But you gotta have a way to get out instantly, or you could loose yer arse big time.

That's what I'm thinking. Put a limit order on the shares once I own them. Looks like I'll be reading a prospectus or two before the market opens Monday. Any other VIX related ETF's y'all are looking at?

 

[waybomb]

SKF is the only etf I've ever played with. I think Kirk was going to explore a different ETF by ultrashorts. Don't know if he ever did or not.

FWIW - I learned of ETF's way to late last time. I've made some bucks with SKF, but back when the market crashed, SKF shot up over $1,000. From $250. You can make a ton or loose a ton!

 

[300 H and H]

Yes I have....

It is based on the S&P and is relatively stable for an index based fund, till SHTF anyway. I am down about 5% as of now...But my other holdings are more than making up for it. I still consider it a hedge, and with QE3 I am wondering why I still have it. Except that I believe that sooner or later something will come along and rock the boat, Hard...Europe, the Mid East, or China Japan..It's a volitile world right now. Lots of risks.

Regards, Kirk

 

[Kane]

Although most of my value has been in precious metals for a number of years (thank the lord) and the usual mutual funds, I also have a modest defensive sum lurking in SKF, and also in crude oil with another ETF - OLO, which is basically long 2X. I couldn't care less what they do in the short term, but one day ....

If someone knows of a better ETF stock for oil long, let me know.
.

 

[jpr62902]

Well, I went ahead and tried SKF and it's down about 1.5% from my entry point yesterday morning. I'm gonna ride it out though. Q3 earnings reports start coming out soon and I'm thinking they ain't gonna be good (except for geared inverse index funds).

 

[Kane]

Well, I went ahead and tried SKF and it's down about 1.5% from my entry point yesterday morning. I'm gonna ride it out though. Q3 earnings reports start coming out soon and I'm thinking they ain't gonna be good (except for geared inverse index funds).

Yeah, SKF is something you buy and just let sit. It's a sleeper waiting for that 100X moment.

 

[waybomb]

Don't watch skf; you will sicken yourself at times. Wait for the market to drop a 1000 points and collect 2to3k!

 

[jpr62902]

Yeah, SKF is something you buy and just let sit. It's a sleeper waiting for that 100X moment.

Well, if THAT happens, I'll be spending a lot more time here, coz I'd be quittin' my job!! Well, maybe not QUIT, but certainly go part time.

 

[Kane]

Well, if THAT happens, I'll be spending a lot more time here, coz I'd be quittin' my job!! Well, maybe not QUIT, but certainly go part time.

Well, maybe not a hundred, but the next man-made crisis is gonna' be a doozy.

 

[jpr62902]

I'm glad I waited (I think). Picked up Altria today at a 12% discount and @ P\E of 13.75. They report their Q3 earnings tomorrow, so we'll see how I did.

 

[jpr62902]

Just curious as to what folks who held SKF before the election are doing with it now. I sold mine once I broke even in early November and bought MCD with the proceeds.