Looking for Bargains this Morning
By: Tim McPartland,
After last nights Trump presidential victory Dow futures fell more than 800 points as financial markets were stunned. Â This morning the futures are more reasonable being down only 300-350 points.
We will take the opportunity to try to buy some bargains today–if they appear. Â In particular we will be looking at the REITs as many of those are down 20% already and may get cheaper today. Â Realty Income (NYSE:O) is one possibility as is more shares of New Senior Investment Group (NYSE:SNR) which we purchased for the 1st time on Monday.
Preferred stock and baby bonds are also on our list, although until markets open we don’t know what issues may tumble. Â We will be looking for issues that tumble by a $1/shares or more. Movements lower of 25 or 50 cents do not attract us as that would hardly be a bargain.