Tuesday, March 3, 2009

Still Buying..............

I had planned on buying some shares during yesterday's last hour of trading but it totally slipped my mind. I only remembered after the market was closed.

Even with the current sell-off not every stock has been thrown out with the dirty water. I couple of companies are still standing strong. At this point in time, it is worth mentioning that both the fundamentals and technicals don't count. We broke through the previous lows on 8.5 billion shares and VIX is subdued compared to last year's fear levels.

As of today's market close, the S & P 500 is trading below the 744 level when Alan Greenspan made his Irrational Exuberance speech 13 years ago.

So where to start? What to buy?

I picked up some GE stock at $7 a share and I will be back for more below this level as there is a big downside because of the GE Financial 'Black box accounting' gimmicks.

2 comments:

Empower Kenya said...

Look into Semiconductor sector.
I acquired a few about 3yrs ago and I have never regretted it.
Any interest in Emerging Markets?

Ssembonge said...

GE touched $10, I want to hold it for the long term but....

I'm in emerging markets upto my eyeballs.