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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (32330)10/6/2008 1:17:48 PM
From: E_K_S  Read Replies (1) of 78825
 
Can the market get to a position where it is too low to sell? The difference I see this time vs the last panic down in October 1987 is there are very few companies buying back their own stock.

I have set aside a lot a cash (now at 40% vs 10% at the start of the year) with the strategy to sit it out. I am tempted to nibble at some real values but the market at this point seems to be trading on fear. It also appears that margin calls are amplifying this downward move which should continue with each daily spike down. Why buy today when you can buy lower tomorrow?

Until we start to hear some very large company stock buy backs, I plan to remain on the sidelines (even with all of these value opportunities).

I wonder how much selling will occur on any dead cat bounce. I think the latest pundants are expecting the DOW to bottom near 8500 which is about another 12% lower.

Hope those GNMA funds continue to pay their monthly dividends.

EKS
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