Buying on the Cheap
We are down another -300 points today in the market… quick… "SELL! SELL! SELL!"… (as Jim Cramer would say). That’s the reaction of a good majority of people in the stock market right now. As for Cramer and myself… we’ve been more of a "BUY! BUY! BUY!". As you may know, I’m a member of Jim Cramer’s Action Alerts, which tells me every time Jim is about to Buy or Sell a stock for his charitable fund. Over the past week, Jim has been doing a lot of buying. Today I picked up a decent amount of shares as well, from a variety of companies. Don’t get me wrong, this market plain sucks… but it’s likely to come back.
In my last post on Jim Cramer’s Action Alerts and my portfolio of his recommended stocks, I talked about how my portfolio was up nearly $5,000 (8.55%)! This was pretty good and I was extremely happy with the performance. Since I have started posting on my JCAA performance, I have been getting allot of emails asking for updates. Unfortunately I didn’t post again recently before the recent crash, as it was up a bit higher.
From the chart above, you can see it pretty much took a complete spin. After being up 8%, now its down 8%. It may seem bad, but it really isn’t when you compare it to what else is really going on. My other personal trading accounts are getting hurt a lot more than my Cramer portfolio. Many hedge funds are also down 40-60% right now. This market is just killing everything right now and I will continue to buy as Jim Cramer does. He was here through the last several bull markets, and will guide us through this one as well.
If you take a look at just some of the stocks in our internet marketing area, you will see them at nearly half they price they were a few months ago. ValueClick, Google and Yahoo have all been hit hard as of lately. Below are their stock charts for the past three months.
VCLK – ValueClick : 52wk Range: $16.03 – $36.70
GOOG – Google : 52wk Range: $372.26 – $558.58
YHOO – Yahoo : 52wk Range: $22.44 – $33.61
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