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Varchild2008 (84.08)

You want Capitulation? You Got it!

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October 10, 2008 – Comments (3) | RELATED TICKERS: FEEDQ , BBY , ATVI

Ok.. *whew*  Spent all day buying stock... Poured over $1,100 buying up shares of several companies...  Applied Materials, Dr. Pepper Snapple, Activision Blizzard, and AgFeed Industries.

You know that 300 point bounce in the first 10-20 minutes of trading this morning?  I spent the bulk of my money at the bottom... right at the bottom of that 600 point sell off burst.

Today was a buying frenzy for me.

Now should the market collapse next week.... You can bet that Friday of next week will be another massive buying binge on probably the same companies... Although I am really really liking Best Buy right now (big time). (BBY)

3 Comments – Post Your Own

#1) On October 10, 2008 at 3:42 PM, anchak (99.90) wrote:

$1000 on 4 stocks....ie $250/trade and assuming $7/trade that translates ioto about a 3% premium.

Maybe its better you spread these purchases over time  

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#2) On October 10, 2008 at 4:29 PM, floridabuilder2 (97.67) wrote:

varchild...  i actually jumped in too early and am down to 60% invested... I see a big 1000 point multi day rally eventually, but I think this recession and crappy economy will be with us for some time.. so I am being much more selective in buying in and I plan on doing it over a longer period than I initially planned...

just my 2 cents

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#3) On October 10, 2008 at 5:16 PM, Varchild2008 (84.08) wrote:

I understand... I got a pretty slick scale on my stocks and I just buy off that scale.  The stocks hit my scale.. I swooped in and bought.

You have to realize something.  Regardless of what kind of recession we get and how long it lasts and so on... The stock market this week went down more than it ever did in U.S. History for a 1 week period.  That tells me that Friday, today, was absolutely a buying day.

Now.. I can sit back and do nothing for another week or two and wait for the DOW to hit 7,000 or 6,000 to go in and buy some more stock.

My point being that pumping in $1,100 in a single day is not a lot of money on my end.   But it was necessary to do it because my gut feeling told me to do it along with stock prices hitting my scale which is a big scale...

Now is not the time to sit on the sidelines but to put miniscule money together and inch your way back into the market.

Granted if you have 60% equities then you probably should hold.

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