The Dow just dipped under 9000 today. For those stock traders (or at least casual followers), you can expect to see doom and gloom in the news. You are going to hear all sorts of predictions about the economy heading into the tank. There are a lot of people panicking in general, and they're selling big time.
Oh, boy do I wish I had some cash on the sidelines now. Granted, the beginning of the year (2010) suddenly spiked higher than what seemed to make sense, but the market is overreacting the other way now. It's going too far downward.
I am not going to say that it is a good idea to buy a stock blindly. However, if you know that you have a good company that dropped a big chunk of value during the past week, can you think of a better time to buy than now when it is cheap?
As a buyer, you wait for times like these. At least, I do.
Prices aren't quite as attractive as February 2009, but they seem awfully good compared to what they have been during the last month or two.
If anyone reading this has money but does not know what to do with it, lend it to me, and I'll make us both money. Better yet (for you), invest it yourself and keep all of the money.
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