January 13, 2012
– Comments (3) |
RELATED TICKERS: BAC
1 Contrarian Call Worth Heeding
Here it is a Friday of a basically "sideways week", followed by a 3 day weekend, led by an S & P downgrade of "the whole world", and I'm buying. Is that contrarian enough for you. :)
I like banks, shipping and energy (both O&G as well as some alternative).
I have one guiding principle that I try very hard to follow (after doing my analysis of course), and that is to buy low, lower, lowest.
re: your linked article, the last "big killing" I made on BAC was when I bought at $5.00 in early 2009 and then sold for a 232% profit in December of 2009.
Things looked pretty bleak then too.
I now own them at that same price.
Just a thought.
Hope we all have a better week next week and "forward into the fog".
That's an old Austin expression from my misspent days of long, long ago at the Armadillo World Headquarters.
Personally, I'd prefer a worse week next week. If you're a net buyer of stocks, so should you.
In general you are right, but sometimes I "overbuy" in order to lower my start price even more; so I like to see a short term "upward surge" in the market over all, to allow me to sell off my "extra" shares in a given stock, so as to be ready for the next downward buying opportunity.
While I am basically a "longer term" investor, I tend to be a "shorter term" buyer, if that makes sense.
Keep posting your great articles backed by "real" analysis.