Look at this. Another clown goes off the deep end.
Trolling for Buys
By James J. Cramer
4/4/01 10:58 AM ET
After a real hammering, like we have had, I like to sit back and say, "OK, what's fallen 10% to 15% since my last buy?" I then make calls to be sure that nothing has changed for the worse. (If it has, normally I would sell, but because of my compliance agreement I can't, so I have to live with these mistakes.)
If nothing has changed, then I buy some more. Remember, I have cash -- roughly $2 million -- that I want to put to work into this weakness. I have put almost $500,000 to work to get started, but my style is to buy down and I can't switch styles now, when the buy-down moment is upon us.
Just so you know about my compliance rules, I can't trade any stocks I mention on Squawk for five days after my appearance, even if they fell down and meet my parameters. That means I can't buy Merrill (MER:NYSE - news - boards), Citicorp (C:NYSE - news - boards), Philips Morris (MO:NYSE - news - boards) and Best Buy (BBY:NYSE - news - boards), even if they have declined to my parameters.
Everything else, however, is fair game, so stay tuned to today's action. |
