Good strategy, Michael. I have the similar story with a friend of mine. He wanted *very much* to buy, but did not know when to pull the trigger... So I told him: "if you want to get in, get in NOW. However, don't spend all your money, spend only a third or a fourth... Then you will have the chance of averaging down if something bad happens with the stock price..." He bought some at 125, then some more at 112, then spent the rest at 99... He is still under water as of today, but feels OK...
As for me, I am actually averaging up :o) I bought my first shares at $50, then some more at 113 couple weeks ago. In the retrospective, the buy at 113 was not a very good decision. I should have waited a little bit more, but could not resist 15% drop from the high...
Oh well, at least I have more EMC. |
