Me too. Average cost so far is 27, I'll double up on the stock, or buy 2004 calls 20s, at 16, 12, 8, 6, 4, 2, 1, 0.5, ........and so on.
I was referred to this site, and told not to buy:
moneycentral.msn.com
IMO, this is GIGO.
At the bottom, investors are using trough earnings estimates, and trough PEs, to calculate future stock prices, and so they arrive at an estimate far too pessimistic.
This is the exact reverse of what everyone was doing last year: using Bubble valuations, and Bubble estimates of EPS growth, and extrapolating them into the future, to arrive at future stock price estimates that were far too optimistic.
This is an example of how the Law Of Conservation Of Sentiment works: a time of euphoria must always be balanced, sooner or later, by an equal and opposite time of dysphoria. Which provides opportunities to get rich, for investors who can act rationally. And those opportunities get repeated on a regular basis, because most investors don't seem to learn anything from past mistakes, and so the market, over and over, swings from absurd euphoria to absurd dysphoria. |
