Not a dumb line at all. Cyclicals are great values now, only it's frustrating that few are buying them. My dad owns a lot of the dogs of the Dow. They're all making money and are reasonably priced but they continuously go nowhere. Maybe 2000 will be different. Baby Bells, drug stocks, consumer goods, foods, real estate, oil, chemicals, durables, natural resources anyone?
No takers. So far. But of course everything changes.
Hey Sears went up today so anything is possible.
As for being dumb, hey I ressmble that remark. No I do feel dumb though not selling everything right before the market dropped. But if three are any clairvoyant geniuses out there I'd love to meet them. No, a little wisdom and understanding along with endurance and patience will do. Every stock I own was bought at a "low" price (at least it looked damn low). So I will sleep well tonight. And fear not the bark of bears in the woods. Today's sell-off was rational, typical this time of year and a little overdue. Frankly I couldn't believe the prices some of those high-flier stocks were selling at. Therefore, I never bought them. So I'm down only 4% today instead of 10% like some people I know. But they also had more profits to lose.
My game is value growth stocks. Buying at bottom of trading ranges and selling for safe gains. Also buying when excellent companies get hammered down to hamburger like Bebe today. I margined up on Bebe today because I know (if I know anything) that it will be at least a 50% gainer for me within a short time. Not a perfect science but I'm up 90% still since October so I can't kick myself over one lousy day. I'm still up since Friday afterall. Just not as up as I used to be. But that can change overnight.
So congrats to all shorts today, but fear not longs. Our days will continue, probably starting tomorrow. Thursday at the latest. Buy low and sell high. All there is to it. Over and out. |
