I understand what you say that 75 a share is on the expensive side. But I bought CSCO before it split at
$100 a share in march. The high then was $108. Analysts
were saying how CSCO was a great company but price-overextended at the time. I was waiting for a correction to $75 (a normal 30% correction,) it never came.
The low was a 1 day opportunity at $92. Then, it took
off, I grabbed it at $100 a share. It did nothing for a couple of weeks, then made new highs at $122, went back
down to (unbelievably) $100, and took off again to todays
split adjusted $147. ($73 1/2, close FRi. after split)
Point is despite all the wiggles and waggles and ups and
downs, if you believe, just get on board and let the stock price direction take care of itself. If you don't, no matter
what price you get in at, you will get shaken out on any
downtrade through your purchase price. If you are wrong about being long, you will lose anyway. If you are right about getting long, but waiting to time it to exact low
tick, well good luck. |
