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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I pulled back on my investments substantially over the last week. It definitely seems like an opportune time to pick up some stocks for relatively good price right now.
Apple is looking particularly undervalued at the moment, probably because a lot of people cashed out after it ran up to $145. It's now at a price of $115 which is where it was before they entered the cell phone market.
I'm sure there are lots of potential buying opportunities out there right now.
Same deal for me….all of my holdings are hosed big time right now! I'm down about 16% overall, with one stock down 67% 🙁
If there were any stocks you were thought were good value before, you should buy them now. But I wouldn't buy anything purely because they have fallen.
I moved a good amount of my investments into chinese and canadian stocks a few months ago so I wouldnt be hit to bad by the recession.
Also Cramers in a good position with his charity cause he can basically manipulate the market to a point.
Oh my god you use Cramer's advice? I might have to unsubscribe my feed.
But you mentioned the 4 hour work week too so I guess I'll keep you on.
I'm #3 in line at the library. I read so much I can't afford to buy all the books I want to read.
Maybe I'll comment on your blog when I'm done. I've read some of it in store and it looks to be a great book.
Hmmm… stocks arre interesting… I have some ebay stocks and I think it will go up. They bought so many good companies it will be matter of time before they go up. What do you think?
Google is kicking some socks right now ($700+). I wish I should've bought some when they were selling them for $100 each.