Buying Stocks on Sale

The market is down. Again. The fever I felt the last few weeks when watching my cheap-o stock climb almost a full dollar a share to $2.75 is gone. (That diamond in the rough is hovering around $2.20 today so it's not that bad.)

I keep hearing on the morning TV news shows that financial analysts now play the role of shrinks. Their best advice for their clients is to do the opposite of "Don't just stand there -- do something!" I've been interpreting this as don't sell, sell, sell and do buy, buy, buy.

That's because the talking heads are encouraging us to think of the this down market as a special sale. And who doesn't love a bargain?

Since I do love a bargain, I bought more Corning (GLW) stock today. I bought 10 shares last month when the share price was close to $20. Then it fell a bit. Then the tender offer came, then it fell some more. Then it dipped below $15!!! Despite another $7 trade fee to Scottrade, I bought more of the same because I believe in the company, I believe it's on sale and I believe the shrinks when they say what goes down, must come up.

Could it be happening already? Here's today's news of a stock surge. It would be nice but I keep reminding myself, I'm in it for the long haul.

Could Sphere: Related Content