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Monday, February 26, 2024

Stocks to Buy – Update 3

Finally a chance to get back in!

Last time we updated our list on 1/11, we were at our mid-pont of 8,650 and not to enthusiastic about the prices.  What a difference 3 weeks make as we are once again near our original entries and ready to move to March sales on what could be another nice bottom test over the next few days.  Keep in mind we were picking up these stocks following our strategy of "How To Buy A Stock For A 15-20% Discount" a buy/write strategy we have been pursuing since October, when many stocks got attractively low and the premiums to sell became attractively high.

I will point out to members that the chat section contains dozens of addtional plays each week so this is not a definitive list but these are a group of stocks that fit our criteria for solid virtual portfolio holdings that fit our core strategy, most of them are dividend payers that we don't mind owning long-term (and we NEVER write a put on a stock we don't want to own at the strike price).

On Jan 11th I said: "Several things have changed since I made my original list:  The VIX is way down so we aren't getting the same front-month premiums, the market is 10% higher and it's earnings season so every entry we take carries the additional risk of a big move up or down on earnings.  That means we need to rethink these positions very carefully if we are entering them new.  Down 10% with a 20% cushion, these stocks were no-brainers and I was emphatic making the point when the Dow was at 8,000 and the VIX was at 80 that this was possibly a once in a lifetime opportunity to pick up these great American companies at amazing discounts. 

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