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With the Dow at 10131, down 313 points, I'm buying here. The sun will come out tomorrow, and the next day, and the day after that. Europe has been around for thousands of years with and without the euro. Lots of good profitable companies paying dividends have stocks that are now at 52 week lows. -And the experts on CNBC are saying to not buy and stay away from the market? Stay away?? Now??? Yet, just weeks ago when the market was peeking, they said the market will keep going higher and to keep buying? You just have to shake your head sometimes at this.
Buying...
1. Exelon (EXC): Buy at $39.66. Utility currently yielding over 5%.
2. Monsanto (MON): Worth a buy at $54.80.
3. AK Steel (AKS): Way oversold at $13.58.
Selling...
1. Nothing
2. Nothing
3. Nothing
***My portfolio is currently 70% cash or cash equivalent. Remainder is equity and derivatives.
Brutal close today again. Everybody keeps saying sell or don't buy. Exelon closed to another 52 week low ($39.31). I actually bought initial shares of this stock on the day of the glitch at $30. Minutes later it was $41. Talk about fast money!
I'm not surprised, but am still amazed, how people will buy homes and stocks when prices are high. Then sell it when prices are low.
Ok, I was going to hit you for the peek and the entire premise of this post, but then I saw that you are 70% cash. Whatever you have in the market now should be play money that you can afford to take a major loss on. Things are way out of control these days and feel a major dip coming on.
[QUOTE]that you can afford to take a major loss on[/QUOTE]
You only take a loss when you sell. If you had faith in a company when you bought their stock at $50 a share, why on Earth would you sell it at $40 just because the whole market was going down? Makes no sense at all, yet some many do it.
Usually when 80% of the masses are telling you to buy, you start thinking about selling, and vice-versa. This usually works in real estate and sometimes in the stock market.
Yeah, its a good time to buy BUT... will it go lower? I rather buy low than a little bit higher... its true its low but BP is also low... willing to bet it will go lower... perhaps its a better time to short then to buy...
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