Maybe I’m the last to know this, but check this out. The metal value of half dollars, quarters, and dimes before 1965 are worth $9.12, $4.62, and $1.85 respectively. ALL nickles: $0.10. Pennies ’82 and earlier: $0.03. No wonder they stopped giving out change in 2020. I’m going through the big coin bucket in my husband’s closet!! https://www.usacoinbook.com/coin-melt-values/
What about BAC and GS? I am still down on my positions. You made a big point about these being long term hold positions. Should I sell as soon as I am not selling at a loss? Please advice.
Gregory, I apologize for my tone in my original comment. Looking it back over, it sounds kind of snippy. I just got scared. Yeah, I get nervous sometimes with this market because I am new to it, and sometimes it feels like a rodeo ride. If it weren't for you, I'd still just be a PM stacker, with no income. Now I am selling out of the money puts, credit spreads, and buying long term holds. Who would have thought that an older lady with no experience in the stock market could be doing this? Love you for who you are (:
I am using TDAmeritrade. I had to take their free course called "Trading Options", and pass the exam at the end of the course with +90%. Then submit a request to upgrade my options trading to Level 3. It was actually quite difficult, but that is no doubt because I had no prior background in options. The only trade I cannot make now is selling naked calls, but the credit spreads, selling puts, etc has been a great source of monthly income, and was worth the effort of passing that course.
This is a very stable way to manage the stock market. Without options, stocks are quite volatile in this era, even without crypto trading. You can also sell a 5-20% out of the money call option, meaning deep in the money, covering your 100 shares if you really feel like you want to hold shares but don't want to lose the value over time. It is less premium than 75% otm calls but protects you against almost all downside movement. Allowing immediate exit from a position without much loss, but if it goes up, you can only collect premium and not any stock share increase in price.
If you wish for a much higher premium strategy, look at GME/AMC stock. Their call option premiums are extremely high and prices are extremely low, with a short squeeze potential this year. THere are also weird ETNs like Suisse oil that is 5.5 USD right now, and pays a 20% annual dividend. It is like owning USO oil and then selling covered calls.
I read it, but was not sure about the status of GS and BAC. Right now, I am making money on them selling way out of the money puts, as you have adviced.
Gee Greg, I thought you should be able to buy your reco stocks without any risk. Maybe you should set up an account to compensate for any losses. I do not know how you take this criticism when you are offering your valuable assistance and thoughts without charge.... I have been in MO since 1980 and am pleased to see it in your core holdings. You are the best man.
President elect going through some old gm posts and noticed your belief of 450 for jpm. In 2015 it traded at approximately 66/ share it has now doubled in 7 years so unless someone has a 16 year horizon and the patience of Job I don't know how it gets there. Unfortunately, I bought in and got stopped out after fairly fast loss of 8%. GM bad mouths gs and jpm incessantly but that aside, Jamie Daimler is poor mouthing his own companies upcoming earnings and the rest of 2022 so while the thesis that bank financials rise during inflation generally holds true so far it isn't panning out. I expect a lot of overhead resistance to occur from weak holders like the person you replied to who wants to bail when the stock gets back to his purchase price.
After exhausting myself and my account in 2022, I am only doing iron condors. There is nothing in my small account but iron condors. I am using an expensive options scanner service. I am still a loyal Gregory Mannarino follower though. Maybe some day I'll be able to hold stocks but if it never happens I have touchable assets... You know the usual list. No Camaro yet. I am always behind a step in some areas.
I bought 2 MO. I gave them 25 years WORTH of my money addicted to Red short's.🙄. I got 2 DVN. Very small position, but it is a position. Love ya master Mannarino. SouthCoastSalt HERE present and ready for class.
I've been doing analysis of JPM on my sub stack free newsletter. Have you seen the monthly chart looks very interesting. Bouncing off of key support level more than likely. For JPM
One difference between Greg and the rest of us is 1) Greg has more money 2) He can tolerate more volatility than us 3) He has higher conviction because of his knowledge and experience 4) Therefore he can tolerate tactical losses for winning big time . So I just wait a little while before buying on a Greg Recommendation. Example: I got in early when Greg recommended KO and had to endure it going down, down, down. But I got too scared to buy. On BAC, I waited until headed down, then bought. I think Greg will be right big time over the longer terms.
Off-topic:
Maybe I’m the last to know this, but check this out. The metal value of half dollars, quarters, and dimes before 1965 are worth $9.12, $4.62, and $1.85 respectively. ALL nickles: $0.10. Pennies ’82 and earlier: $0.03. No wonder they stopped giving out change in 2020. I’m going through the big coin bucket in my husband’s closet!! https://www.usacoinbook.com/coin-melt-values/
What about BAC and GS? I am still down on my positions. You made a big point about these being long term hold positions. Should I sell as soon as I am not selling at a loss? Please advice.
I said EVENTUALY... Please read the article.
Gregory, I apologize for my tone in my original comment. Looking it back over, it sounds kind of snippy. I just got scared. Yeah, I get nervous sometimes with this market because I am new to it, and sometimes it feels like a rodeo ride. If it weren't for you, I'd still just be a PM stacker, with no income. Now I am selling out of the money puts, credit spreads, and buying long term holds. Who would have thought that an older lady with no experience in the stock market could be doing this? Love you for who you are (:
Hey Barefoot, are you ever in Greg's chat room (main Trader's Choice page)? I wanted to directly msg you w/o bothering everyone else.
you are new and setting up credit spreads what broker are you using if you dont mind me askin g
I am using TDAmeritrade. I had to take their free course called "Trading Options", and pass the exam at the end of the course with +90%. Then submit a request to upgrade my options trading to Level 3. It was actually quite difficult, but that is no doubt because I had no prior background in options. The only trade I cannot make now is selling naked calls, but the credit spreads, selling puts, etc has been a great source of monthly income, and was worth the effort of passing that course.
This is a very stable way to manage the stock market. Without options, stocks are quite volatile in this era, even without crypto trading. You can also sell a 5-20% out of the money call option, meaning deep in the money, covering your 100 shares if you really feel like you want to hold shares but don't want to lose the value over time. It is less premium than 75% otm calls but protects you against almost all downside movement. Allowing immediate exit from a position without much loss, but if it goes up, you can only collect premium and not any stock share increase in price.
If you wish for a much higher premium strategy, look at GME/AMC stock. Their call option premiums are extremely high and prices are extremely low, with a short squeeze potential this year. THere are also weird ETNs like Suisse oil that is 5.5 USD right now, and pays a 20% annual dividend. It is like owning USO oil and then selling covered calls.
Thank you, I will think on these strategies!
I read it, but was not sure about the status of GS and BAC. Right now, I am making money on them selling way out of the money puts, as you have adviced.
Gee Greg, I thought you should be able to buy your reco stocks without any risk. Maybe you should set up an account to compensate for any losses. I do not know how you take this criticism when you are offering your valuable assistance and thoughts without charge.... I have been in MO since 1980 and am pleased to see it in your core holdings. You are the best man.
I wouldn't sell GoldmanSachs, think we will see it > 425.
BAC think we will see it >50. Wouldn't sell. Would buy some more in case we see 37 USD before 50 USD.
Thanks for your comment! I appreciate it!
President elect going through some old gm posts and noticed your belief of 450 for jpm. In 2015 it traded at approximately 66/ share it has now doubled in 7 years so unless someone has a 16 year horizon and the patience of Job I don't know how it gets there. Unfortunately, I bought in and got stopped out after fairly fast loss of 8%. GM bad mouths gs and jpm incessantly but that aside, Jamie Daimler is poor mouthing his own companies upcoming earnings and the rest of 2022 so while the thesis that bank financials rise during inflation generally holds true so far it isn't panning out. I expect a lot of overhead resistance to occur from weak holders like the person you replied to who wants to bail when the stock gets back to his purchase price.
After exhausting myself and my account in 2022, I am only doing iron condors. There is nothing in my small account but iron condors. I am using an expensive options scanner service. I am still a loyal Gregory Mannarino follower though. Maybe some day I'll be able to hold stocks but if it never happens I have touchable assets... You know the usual list. No Camaro yet. I am always behind a step in some areas.
Thanks Greg! Still been adding some BAC and JPM at these bargain prices. What a great ride on XOM!
Hi Greg, on your website you have DVN under short term play but here you have DVN for long term. Do you like DVN both as long and short term?
Ok thanks for the update.
I bought 2 MO. I gave them 25 years WORTH of my money addicted to Red short's.🙄. I got 2 DVN. Very small position, but it is a position. Love ya master Mannarino. SouthCoastSalt HERE present and ready for class.
I've chosen PDBC, RJI, GLTR, TAGS & URA as my core positions.
Here's the analysis I did on the monthly. https://thehappyfaceplace.substack.com/p/jp-morgan-stock-jpm-short-and-long?s=w
At least the monthly chart looks like that will be the case. Not financial advice of course
Indeed I see new record high in JPM by end of year.
I've been doing analysis of JPM on my sub stack free newsletter. Have you seen the monthly chart looks very interesting. Bouncing off of key support level more than likely. For JPM
What about PDBC ?
One difference between Greg and the rest of us is 1) Greg has more money 2) He can tolerate more volatility than us 3) He has higher conviction because of his knowledge and experience 4) Therefore he can tolerate tactical losses for winning big time . So I just wait a little while before buying on a Greg Recommendation. Example: I got in early when Greg recommended KO and had to endure it going down, down, down. But I got too scared to buy. On BAC, I waited until headed down, then bought. I think Greg will be right big time over the longer terms.
Greg what do you think about the ETF GLD as a long term play?
Hey Greg - does consolidate mean you are pulling the other holdings to cash or are you rolling all positions into one of these 4 core?