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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (32595)	10/24/2008 10:04:31 AM
From: SI Bob	Read Replies (1) \| Respond to of 78627

I've actually got 3 limit orders in on [t]HD[/t] (<span style='font-size:11px'>LAST</span>: 18.25<span style='font-size:11px'> 10/24/2008 9:44:25 AM</span>) , though none have been filled yet. The only fill I've gotten is one of my [t]ACAS[/t] (<span style='font-size:11px'>LAST</span>: 10.67<span style='font-size:11px'> 10/24/2008 9:49:25 AM</span>) orders. I had to laugh this morning because as I was busy entering limit orders at really low prices in case things got stupidly crazy, Art Cashin came on CNBC and was suggesting exactly what I was doing. "Put in limit orders at silly prices". I dislike the word "hope" in the market, but this time it's in a completely different context. I hope I don't get filled on all of my orders not only because some of these are at stupidly low prices (IMO), but if they all get filled, I'll be entering margin territory more than I typically do even on trades and never have done on LTBH positions. Addendum: As I was typing this, I started getting a few more fills. I've got something like 30 orders open. And there goes another. Got HD at $18.01 (as near as matters, 5% yield) and [t]GE[/t] (<span style='font-size:11px'>LAST</span>: 17.73<span style='font-size:11px'> 10/24/2008 9:44:26 AM</span>) at $17.53. I like to enter my orders (both buy and sell) a little bit away from round numbers to (IMO) increase my chances of a fill. I'm ONLY buying dividend payers now. I see this as a once per generation opportunity to buy strong companies and their dividends at crazy prices. And won't sell even to take profit unless I get uncomfortably deep into margin. Further addendum: My position in our parent company, [t]LSE:AFN[/t] (<span style='font-size:11px'>LAST</span>: 0<span style='font-size:11px'> 12:00:00 AM</span>) is no longer my biggest position on a value basis. Not only have I been putting on bigger positions in other companies, the mothership has been tanking lately and the strength of the dollar vs the pound has been further eroding the value of that position. One more: Not getting anymore fills at the moment and I'm frankly disappointed that we're not getting the kind of tankage that tells me a bottom might've finally gotten hit. I want to see carnage. Down about 300 on the Dow is not even remotely hinting that we've gotten what I see as a necessary cleansing toad-choker of a storm.