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. 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. In particular we will be looking at the REITs as many of those are down 20% already and may get cheaper today. 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. 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.