After yesterday’s sell off, the best thing that one can do is to go out and buy the stocks of companies that you know are good. I watched the market all day looking for stocks that I know have value and were sold off too much from yesterday’s debacle.
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Days like Monday don’t come along too often (that’s a good thing), but when it does you need to be ready to buy the stocks that you know are at a lower price than it should be from people selling on fear.
777 point drop in the DOW hasn’t been seen since 1987 and many smart and prepared people made a bunch of money by having a good supply of cash on hand.
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I hope that you guys were able to score some great discount prices on the stocks you watch. Typically when the markets take a dive like it did Monday, they will bounce back quickly because of the prepared people jumping back in on a great deal.
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Just to name a few of the stocks that I got into to give you an idea how well you can do when ready to take advantage of an opportunity.
Mosaic Co. (MOS) – A stock that I’ve been in before, but got out earlier this year when I thought the stock had grown too much. When I saw that the stock was down to $61 last night, I said that I would jump in if it doesn’t pass $65 in pre-market. It worked out well, I was able to pick the shares up at $65.
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Converted Organic CL B WRTS (COINZ) – I’ve talked about this stock many times on this site and have nothing but good thing to say about it. The stock closed yesterday at $4.70. When the markets open this morning, the stock was down to $3.17. I was able to grab it at $3.25.
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Energy Conversion Devices Inc. (ENER) – Here’s another company that I expect great things from in the near and long term future. The stock closed at $53 Monday and I thought that I wouldn’t be able to grab it at that price (which is where I wanted to get it) since I knew it would get a great bounce even before the opening, but I was wrong (it happens). When the markets continued to drop after the opening, I was able to get it at that price.
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Like I said , I hope you guys were able to o the same and get in on some great deals. If you didn’t don’t panic, I do expect to see the markets drop again this week while we wait for Congress to remove their head from their ass. I don’t plan to be in these stocks by the end of the week. I’m going to hold off until I get the gains I estimated and then jump off for a while again.
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