I took advantage of this drop today by doubling-down on my investment within Proctor & Gamble (PG) at $51.76. They are trading just above their 52-week low, so I think this is a great entry point into a solid company.
In addition, I tried to make two other moves, but set my entry point too low. Those stocks were DryShips Inc (DRYS) and General Electric (GE). I missed getting into DRYS by 0.03, which was a bit frustrating because I would have had a nice little gain towards the end of the day. I guess we will see what the market will look like tomorrow after investors get a chance to digest the Senate version of the "Stimulus Plan" and the complete vagueness of Tim Geithner.
On a lighter note...has anyone else become completely immune or disgusted with the continued overuse of the term "Transparency?"
2 comments:
"Transparency": Ha ha, yah, geez, I know what you mean!
Hope you checked in on DryShips again today, I got back in at $5.00. Also, despite some evidence to the contrary, I'm still confident about Safe Bulkers, Inc (SB) as well ... time will tell (though I'm down about %15 at the moment).
Drawing inspiration from your genius coal play, I'm taking an aggressive short-term flier on oil via ENSCO International (ESV) $26.48 and McDermott International (MDR) $13.05.
Keep up the great posts, and God bless!
Thanks for the nice comments. I have added your blog to my scrolling link page. I like your thought process with MDR and hopefully Venezuela does not "jack" any more of your ENSCO rigs.
http://www.reuters.com/article/marketsNews/idAFN2748095920090127?rpc=44
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