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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Bob V who wrote (15873)	2/27/2003 7:35:11 AM
From: im a survivor	Read Replies (1) \| Respond to of 16631

<<Re DUK The trend is your friend and this one is down. Unless your trying to pick the exact bottom I'd let it turn and get a run at the hill ahead. Lots of overhead resistance. Then again my record is pretty dismal and the fact I don't like it may be a buy signal. >> Well here is my thinking. I do not like playing guessing games and have no idea if she will go lower, or how much. I dont want to play the guessing game in trying to determine what the low will be, or when. It's a great company (DUK) and a stock I have always wanted. I figure down here near the 52 week low in the $13's is a good time to take a PARTIAL position, rather then missing it if it goes up. I figured I would take a small position to start now, while it is at it's 52 week low, but have cash and ready to buy more if she drops. So no stress in trying to pick the bottom and no stress in worrying she will move back up without me and no stress if she drops to $3, as I will just load the boat at those prices. Fortune 100 company. HUGE revenue, excellent eps, low PE, nice dividend. I would imagine the lower she goes, the more buyers she will get, as alot of retail and big boys like this company/stock, and like I said, at these low levels, there have to be folks ready to buy. My only concern is war and that DUK, being the big boy that she is, could be a terrorist target. if she doesnt get blown up by suddham, I would think DUK will be higher down the road. Hope so anyway. For 3 years as the market went down, this stock kept going up. She is now getting the whacking she didnt get with the rest of the markets. I figure she either holds here at the 52 week low, or close to it, or she breaks that resistance to the downside and goes further down. But thats ok with me. I will buy triple the shares I just grabbed, if she hits the $5 - $7 range.