Market Correction = Buy stocks for cheap

[wooish]

OK fellas, I'm sure everyone (myself included) on this board got a big dent on their portfolio during the past two weeks. It's a time full of fear, panic, helpless and wanting to sell everything and keep whatever is left in their account after taking the loss.

Instead of thinking doom and gloom, I've actually been accumulating good stocks on the cheap. If you have the fund and willing to buy low and sell high then this is the time to do it. I'm listing a few stocks here that have dividend and it's currently trading so much cheaper. If funds are limited, pick up a few options for next to nothing and hold it for a few months for at least a double.

There are lots of good stocks out there, please feel free to post what you think would be a good stock to accumulate during this time and hold to sell at higher price later.

HTGC
PGH
LINE
HYG
GE
JNK

This is not a recommendation, I just thought it's a good time to accumulate.

[billyjoe]

wooish,
We could all cry in our beers. Could you loan me a buck to buy one, wooish? Just kidding. I bought some PM cheap and also more NJR, 2 nice dividend payers and I can afford to wait. Check out stocks with long term stability, history of dividend increases, and price appreciation. If everything goes to hell it won't matter, cash will be worthless also.

----------billy

[riverbabe]

I'm with billy and wooish. Have been through this many many times before. Hang tough. It will resolve itself. I remember my late husband saying, "don't worry, it will come back." That was when the market went down 500 points in a day in 1987.

[riverbabe]

I am actually down only about 3%. Have confidence that the market will recoup. Hang in there, guys. It WILL come back. This is a market marker thing. The excuse is Greece and Europe. The reality is the US market marker. River (trust me) Or not.

[B.J]

Here we are testing the lows of the so-called "computer glitch" of nine trading days ago. I'm not at all surprised at the unscrupulous production that was made out of that, with these hearings, investigations, blah blah blah, when it's now evident that the levels of the plunge are legitimate. It was all nothing but rederic aimed at getting the nervous people back in. I know everyone on here is very bright, and didn't fall for it. But, I cannot say that for many.

I guess the problem I have with it is that, between the talking heads and legislators, they're trying to take risk completely out of the market, always quick with the bailout, rederic, excuses for crashs, etc. So many are now conditioned to believe that their investments, in no possible way, will hit the fan. Very dangerous. I just wish some of these investors would educate themselves, especially the ones with retirement around the corner.

[wooish]

Just bought some GE Sept $16 ITM calls for less than $2, still got plenty of time to let it run up to recent high of $19. I'll continue to accumulate more good stocks at cheap price.

[steelman]

I agree with everyone here. A fire sale!! I bought some GMCR Sept. $25 calls for $2.50 today.

[steelman]

Oh yeah, the other thing I am going to do is....PRAY. I am going to church this weekend, I am going to pray for my family, everyone here, health, strength, patience, to sell more steel buildings, and for the markets to be very kind to us AMEN!! Have a great weekend.

[riverbabe]

I am actually down only about 3%. Have confidence that the market will recoup. Hang in there, guys. It WILL come back. This is a market marker thing. The excuse is Greece and Europe. The reality is the US market marker. River (trust me) Or not.

Market MAKER!!! Sorry. My mind flaked out on me, or my typing finger slipped.

By the way, Wooish, I now have a 4/5 position in GE too. Tried for the other 20% this AM by low-balling but it didn't fill. Nice to see some green today. Head fake? Monday will tell the tale, I think.

But, somehow I think God has other things to think about than the market, Steelman. Somehow I think He doesn't control it either. The strength & patience part I always pray for too, in general. Thanks for thinking of us all.

[dmk112]

Thursday's late day dump sure reminded me of 2008. I'll be selling on the 1st bounce... this market is in trouble IMO.

[steelman]

Thursday's late day dump sure reminded me of 2008. I'll be selling on the 1st bounce... this market is in trouble IMO.

dmk, I remember my very first year as a financial adviser was 2000. I had just got my securities licenses. The S&P was at 1500. My dad just retired and I rolled his TSP (gov't equivalent to a 401k) over to a very nice fund mix. I had also opened up a bunch of new accts for other friends and family and then....WHAM, the tech bust. The S&P dropped down to 835 over the next year and a half. I told everyone that it would all come back, it always has and always will. That was a tough period for my credibility. Luckily, I had everyone well diversified in growth, income and value funds. Today, they are happy with me as I had everyone dollar cost averaging on a monthly basis. Anyway, I still think one day we will see the DOW at 20,000. I was born in 1972 and the S&P was just over 100. Let's just try to buy on the dips and sell on the highs and make some money.

[dmk112]

dmk, I remember my very first year as a financial adviser was 2000. I had just got my securities licenses. The S&P was at 1500. My dad just retired and I rolled his TSP (gov't equivalent to a 401k) over to a very nice fund mix. I had also opened up a bunch of new accts for other friends and family and then....WHAM, the tech bust. The S&P dropped down to 835 over the next year and a half. I told everyone that it would all come back, it always has and always will. That was a tough period for my credibility. Luckily, I had everyone well diversified in growth, income and value funds. Today, they are happy with me as I had everyone dollar cost averaging on a monthly basis. Anyway, I still think one day we will see the DOW at 20,000. I was born in 1972 and the S&P was just over 100. Let's just try to buy on the dips and sell on the highs and make some money.

Steelman - I agree that one day it will go to 20,000 but when? If sh*t really hits the fan 2008 will look like a blip in the grand scheme of things. The yearly DOW chart really scares me... what if this recent bull was just a counter trend rally to the true bear market that started in 2007? I'm very cautious in this market and take profits where I can, not doing anything for the long term for now. The future of this country, of the global economy, just doesn't look bright to me. Unless this gov't curtails the spending US will follow in Greece's footsteps. I hope I'm wrong...

[skiracer]

Steelman - I agree that one day it will go to 20,000 but when? If sh*t really hits the fan 2008 will look like a blip in the grand scheme of things. The yearly DOW chart really scares me... what if this recent bull was just a counter trend rally to the true bear market that started in 2007? I'm very cautious in this market and take profits where I can, not doing anything for the long term for now. The future of this country, of the global economy, just doesn't look bright to me. Unless this gov't curtails the spending US will follow in Greece's footsteps. I hope I'm wrong...

we got a junior senator from illinois running the show. just like jimmy carter, all the bad guys will be pissing down his calf now that they know his act. no guts, no action, no idea of what's going on. and we're paying the freight.

[dmk112]

we got a junior senator from illinois running the show. just like jimmy carter, all the bad guys will be pissing down his calf now that they know his act. no guts, no action, no idea of what's going on. and we're paying the freight.

Ski, what do you think of our new governor?

[skiracer]

Ski, what do you think of our new governor?

I like him and I voted for him. I think he is just what this state needed. and the best part about it is that we got what we asked for and now that he's trying to do what needs to be done people are getting on him for doing it. the teachers make me sick to my stomach. all the civil service people and the cops and firefighters unions want their cake and want to eat it to. they think the well will never go dry but if something radical to curb fiscal spending and change the current mentality in our state and country isn't done soon we're doomed. at least Christie is taking the bull by the horns.