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Correction Here We Come

Recs

19

March 15, 2011 – Comments (10) | RELATED TICKERS: T , VZ , TOT

You knew it was due.  You know it has to have a catalyst, and Japan's woes seems to be it.  But I am looking at stocks that still are looking good to buy despite all the woes the media loves to present.  Integrateds, Oil service companies, BDCs. MLPS. T and VZ.  INTC and yes Csco.  All sporting low PEs with some having great yields.  You can take the Alstry approach and start hiding, or you can start building those positions on stocks that offer great yields and long term appreciation. Simply stop being affraid because of the naysayers.  Start nibbling.

10 Comments – Post Your Own

#1) On March 15, 2011 at 2:41 AM, TMFUltraLong (99.95) wrote:

Don't fall over...but even I'm considering a nibble here and there.

TMFUltraLong

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#2) On March 15, 2011 at 2:52 AM, TraderMikeSays (77.85) wrote:

I'm going short for a while, there will be time to nibble later. Look at the charts for the Indexes, they are all bearish since last week. The Nasdaq was the first to break-down, the Dow and S&P are turning-down to follow. The 10-day crossed the 20-day heading down, price has now broken-down below the 50-day SMA's on all three of the major indexes, with more bearish crosses on the way. I don't expect it to last forever, but I'm staying short until the charts look better.

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#3) On March 15, 2011 at 3:50 AM, TMFUltraLong (99.95) wrote:

Porte,

Would you be amazed if I said I didn't like a single one of them?

TMFUltraLong

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#4) On March 15, 2011 at 5:28 AM, TraderMikeSays (77.85) wrote:

All of them are currently in a downtrend, so you have to look for the possible turn-arounds. Looking at the charts, I like EXAS, MNTA, and MAYBE(!) INSMD. Great chart on MNTA! It's trying to break-out, if it does, buy it! EXAS is not overbought, yet, like MNTA is. With the short bias in the market right now, might want to wait on any longs, though...

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#5) On March 15, 2011 at 2:39 PM, awallejr (81.03) wrote:

I started nibbling at some PM stocks which I wanted to buy but missed my chance earlier.  I like GG, SLW and AUY.

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#6) On March 15, 2011 at 3:44 PM, rexlove (99.54) wrote:

I think any correction will be very fast and not very severe. I'm using some cash I had sitting on the sidelines today. Almost all in stock now.

Any dip seems to be bought rather quickly. I think everybody that's been waiting on the sidelines after pulling out in 2008 and 2009 has been waiting for opportunities to buy in. Today might be one of those days. Let's see if we have any follow through after this nice rebound today.

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#7) On March 15, 2011 at 3:45 PM, rexlove (99.54) wrote:

I think any correction will be very fast and not very severe. I'm using some cash I had sitting on the sidelines today. Almost all in stock now.

Any dip seems to be bought rather quickly. I think everybody that's been waiting on the sidelines after pulling out in 2008 and 2009 has been waiting for opportunities to buy in. Today might be one of those days. Let's see if we have any follow through after this nice rebound today.

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#8) On March 15, 2011 at 7:01 PM, Borbality (50.25) wrote:

I don't think today ended up being much of a correction. I'm probably not adding much more until I see what happens when QE is supposedly left to expire. I got a good chunk in the market as it is though.

 

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#9) On March 15, 2011 at 7:35 PM, familyfund2 (21.43) wrote:

rexlove (98.35) wrote:I think any correction will be very fast and not very severe.

 I mostly agree. We are in the 'Bubble Bubble'. A lot of shakeouts and 10% dives, and constant media hype of the next crisis. But mostly ok for those that have stop limits set.

2%

PS, the real question is: when will the Bubble Bubble pop? The answer is.. .. not until max pain. As long as there are still suckers to lure in the big plunge won't happen. Just keep some sort of limit on most your positions, and don't add positions faster than you can ensure limits under them. 

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#10) On March 16, 2011 at 12:41 AM, awallejr (81.03) wrote:

What "big plunge?"  This isn't fall of 2008 where banks were frozen and we were facing back to back negative 6 GDP quarters.  So unless you see that happening again, and there really is no reason to think that, what COMPARABLE catalyst is there?

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