I see the Greece situation as irrelevant. The loans to Greece have already been largely written off by the banks and the Greek economy itself is small, so it does not matter. This is much noise about nothing in my opinion.
I got my first lot's of MGDDY and BG (and others) to a 15%+ discount to my sales prices already, sure the stocks could go lower but who knows?
This downturn is different than the June/July downturn in 2011 because it hit some stock groups very selectively (materials, mining, crude, investment banks, insurance), while other sectors like consumer goods, regional banks, automobile,utilities and even industrials have held up well.
I think some sectors are way overdone with their correction and could bounce back strongly. I could be wrong of course and the technicals look weak but I think there are very good bargains to be had, right now. |
