Thursday, August 16, 2007

Buy Baby, Buy!

Market action has all the signs of a market panic. Even if this is a bear market turn, we'll get a rebound. ... Bought EFA, EPP, IGM today. (Full disclosure: Also bought some fund shares a few weeks ago at the first drop by the major averages to their 50-day line. No way to predict how far down the market will go.)

8-22-07 update: I forgot to mention last Thursday, which now looks now like it was maybe a short term bottom, what did it for me in making this correct "Buy Baby Buy!" call, was National Public Radio. Driving to work, there was a somber mood on the air, a reporter talking about the big drop in the market that morning.

Ha! This was it, I knew. With NPR calling the sell-off in real time, it had to be a bottom.