Hi Jim. Yep, I shoulda bought this am. (Couldn't get any fills at my prices this afternoon.) However, that is this afternoon's perspective. With the volatility we are seeing, the potential of a real false rally now, I might be able to get what I want tomorrow or the next day. In fact, it might be the old story for me: If/when the market retests lows, I'll be wailing why didn't I SELL today at higher prices to free up more cash. And if the market rallies further, I'll be bemoaning my cowardice in not buying when I had the chance, or if I did buy, in not buying much, much more.
One thing I find strange is how many authors say you can't buy at the absolute bottom. I find this very true, but odd, since I keep averaging down on many stocks (not just in '97-'98 market) and I can NEVER get that absolute bottom. NEVER once. So I am resigned that I sometimes may have to step up a little. But still, IMO, there are so many okay, profitable companies with okay ROE, selling below BV, etc. that there is still a margin of safety with them a bit off their lows. IMO.
I haven't a clue what's going on. It seems though with this volume and this volatility, many people or funds are either getting, and taking, a chance to get out of stocks while the getting is good, while others are saying(and buying)as they see an opportunity. I would guess, when everyone has a chance to do what they wanted to do, the market will steady. Maybe. |
