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This Panic Is Your Time To Buy.

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August 08, 2011 – Comments (23)

This panic is your time to buy.

This sell off is irrational. Traders are causing blood to flow in the streets, creating opporunities for you and me to buy great stocks at discount prices. Those that have cash set aside and have a long-term focus are going to do just fine.

It is that simple!

-Cato

 

23 Comments – Post Your Own

#1) On August 08, 2011 at 4:01 PM, motleyanimal (57.53) wrote:

I have been tempted to buy all day. Decided to mow the lawn and then have a cocktail instead. I have some gold and I have a good cash position and I'm going to wait a bit.

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#2) On August 08, 2011 at 4:03 PM, ChrisGraley (29.65) wrote:

Thedayaftertomorrowisthetimetobuy.

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#3) On August 08, 2011 at 4:06 PM, selfdestruct2 (27.01) wrote:

Animal, I agree. This market hasn't hit a bottom yet. I started buying in much too early during the 2009 crash. I think this time we are going to fall much further ( farther ?)

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#4) On August 08, 2011 at 4:08 PM, Borbality (50.15) wrote:

a few more days like this and i can finally open my AAPL position. 

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#5) On August 08, 2011 at 4:09 PM, clayb51 (70.47) wrote:

I decided to do a bit of buying today: ATVI & HAS.

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#6) On August 08, 2011 at 4:10 PM, TMFBlacknGold (98.79) wrote:

As long as all of the computer algorithms keep trying to out-do one another, we're no where near the bottom (unfortunately, or fortunately depending on how you look at it.) It doesn't help when news sites post headlines like "Sell First, Ask Questions Later". Not very Foolish at all.

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#7) On August 08, 2011 at 4:11 PM, Borbality (50.15) wrote:

Also agree with animal and selfdestruct. We're not going to shoot up 20% overnight and lose the buying opportunity.  Time to wait and chill out a bit. 

 

 

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#8) On August 08, 2011 at 4:23 PM, tmathe85 (52.89) wrote:

I am on the sidelines licking my chops. Nothing like having a couple grand and a 20 year timeline......

 

Remember the golden rule! Buy low and sell high!

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#9) On August 08, 2011 at 4:40 PM, wolfman225 (64.09) wrote:

This "panic" is reminding me more and more of the market just after 9/11/01.  I had just started my 401K in June of '01.  I just kept on DCA'ing my way through.  By spring of '05 I had a balance almost 5x my total contributions.

This time, I've got about 3x's the contributions I had then.

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#10) On August 08, 2011 at 4:49 PM, chk999 (99.97) wrote:

I might wait a bit, I don't think this is done just yet.

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#11) On August 08, 2011 at 5:07 PM, outoffocus (23.21) wrote:

Add me to the list of people agreeing with Motleyanimal. I'm watching stocks very closely but I'm not buying just yet.

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#12) On August 08, 2011 at 6:19 PM, edwjm (99.87) wrote:

As I said elsewhere, the greed/fear ratio has dropped, but it could easily drop more.  Be patient.  Nibble, don't bite.

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#13) On August 08, 2011 at 6:22 PM, PainterPoker (22.54) wrote:

I'm getting excited. This will be my first opp to buy basement deals. I don't even know where to begin. Looking forward to seeing what Ultralong will pick (the old Ultralong before TMF got to him..)

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#14) On August 08, 2011 at 6:33 PM, kdakota630 (29.62) wrote:

If I were going to put anything into the market right now, it would be short-term thinking on my part.

Wholly a guess here, but I think we'll have a rebound after the last couple of weeks, which will last another few weeks before we start heading down again.

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#15) On August 08, 2011 at 10:12 PM, cwcj63 (69.35) wrote:

Wiat for couple days and then it'll be like shooting fish in a barrel.

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#16) On August 08, 2011 at 10:51 PM, edbbear (< 20) wrote:

I bought today but the futures are still on the way down.  The market was propped up by Ben's financial shennanigans (along with the economy) so the true value is skewed.  I may have entered much too early, this could be brutal.  I have some more money to spend tomorrow if I need to.  This is definitely gut-check time if you are in the market. 

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#17) On August 08, 2011 at 11:05 PM, NOTvuffett (< 20) wrote:

I agree with the majority of commenters here, some stocks seem to have attractive valuations at current prices.  But the pain may not be over (how many good statistics on the economy have you seen lately?).  Personally I am waiting for a definite reversal of the trend on significant volume before I put in new funds.  I have made the mistake in the past of trying to catch the absolute bottom when buying, and missed it by a penny or a nickle and it wound up costing me thousands.  You don't have to catch the tops or bottoms to make money. 

kdakota630 said "Wholly a guess here, but I think we'll have a rebound after the last couple of weeks, which will last another few weeks before we start heading down again."  Historically, there has been mostly tepid bounces after sell-offs like this, so I wouldn't blow my wad even if you think it is a great deal.

 

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#18) On August 11, 2011 at 3:12 PM, catoismymotor (< 20) wrote:

When I penned this uber-short blog I did not have in mind that the only day you could act was 08/08/11. The panic in question in my opinion is still in play. Buy now, wait a day or two, or even a week or more. It matters not to me. I think the volitility we've witnessed recently will continue so there will be many days ahead of us to take advantage of some great redtag prices on outstanding companies.

Buy well. Buy low. Go long. 

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#19) On August 18, 2011 at 10:31 AM, catoismymotor (< 20) wrote:

Number 18 makes me sound kinda bright on a day like this. :)

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#20) On August 18, 2011 at 10:41 AM, lemoneater (67.83) wrote:

:) We could use a little cheer. I believe that morale builders are true philanthropists.

 

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#21) On August 18, 2011 at 11:15 AM, catoismymotor (< 20) wrote:

You think the Gardner Bros. should by the bloggers milkshakes, too? :)

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#22) On August 18, 2011 at 12:47 PM, lemoneater (67.83) wrote:

:) I prefer smoothies. More fruit.

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#23) On August 18, 2011 at 2:13 PM, catoismymotor (< 20) wrote:

Smoothies! Healthy and tasty! I'll send them a message asking for Planet Smoothie gift cards for all.

I hope you and your husband are well. I also hope the beginning of this academic year goes smoothly. So many Freshmen, so many ways for them to get in trouble.

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