Quote:
Originally Posted by fleury
CBDT and SCR. Why am I still holding on to these two bags of turds?
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Hope?
The bull run on spec stocks is over, so they're pretty much all crashing to the ground now in favour of more staid and stable ones. Like I said above, I think we're seeing a correction, and one that might be fed by tempered optimism about when this pandemic is actually going to end.
I had just put some money in Air Canada and Suncor, and was eyeing other stocks likely to benefit from increased travel this summer, but recent hardcore lockdowns in BC and Ontario (not to mention Alberta's situation) have me now waiting to see how far this dip can go before I chuck any more money in.
My approach over the next couple of months (and again, I'm just a guy with no clue what he's doing) is to focus on a handful of stocks I know fairly well in industries that should do well after the pandemic, and buy into them when it looks like they may have bottomed again. In the meantime, I'll be holding on to my gold and REIT stocks, as well as some of these spec stocks that have fallen so far they're no longer worth selling.
I think that, if you have a stock in your portfolio that (a) doesn't pay a good dividend, and (b) isn't likely to go up in the next 2 months, you should probably dump it and look to re-buy it (or something else entirely) a few weeks down the line.
On another note, there's reason to believe the market will surge again in the fall. The new budget just screams "inflation" as far as I can see, so holding cash will just make it rot. The government has basically committed us to inflation and low interest rates for the balance of the decade from what I can tell. If your money isn't in stocks, bonds, real estate, or physical assets, it's going to be worth less and less as the months go by, at least IMO.
I'd be curious to know how others see it
