BUY BUY BUY!!!??

As the market is getting completely clobbered today (and all last week) this feels exactly like fall 2008 to me. I made a killing then, and am looking at new buying opportunities. Are people buying right now? I am looking at FAS currently and interested in hearing about technical trading strategies someone may have for this? Also, what are peoples thoughts on BAC? The mortgage mess and pending lawsuits make this impossible to value because no one knows how deep the liabilities may go, but still the stock is so depressed I think it may be worth it.

Outside of financials, there has to be a lot of good companies that are being pulled down by the mayhem in the market. What stocks is anyone recommending and why?

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Comments (30)

Aug 8, 2011 - 12:07pm

buy energy, they've been getting killed. WTI

"History doesn't repeat itself, but it does rhyme."
Aug 8, 2011 - 12:24pm

i'm eyeing yoku ( fairly new, but look so damn attractive)

when ipo was released it opened at 12.8 closed at mid 20's (don't quiet recall)... has been in in 30's, 40's for the most part, and is currently trading at 25.54. I think it has a potential being an asian internet television platform (the chinese almost version of youtube). hoping it hits 20 or lower and that baby's mine

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Aug 8, 2011 - 1:12pm

Large cap materials and energy equities have been brutally clobbered when many of the fundamentals remain unchanged. It's all massive derisking (away from commodities and toward staples, for the most part) and, should the market rebound, you'll be able to get paid on these.

But if you feel commodity prices, on a whole, are going to come down or, failing that, a long-term depression in the market this would be a bad play. I feel like we will bottom this week and see some rebound, but use your own judgement.

Aug 8, 2011 - 1:17pm

^^ agreed. Like I said before, buy energy as it is way down. Idk about the other industries as I've only paid attention to what I have, but energy def. seems to be the worst hit.

"History doesn't repeat itself, but it does rhyme."
Aug 8, 2011 - 3:01pm

I'm gonna wait, I trade too actively to buy and hold.

Reality hits you hard, bro...
Aug 8, 2011 - 3:52pm

If the Ben Bernank doesn't do the Quantitative Easing (Part Tre) this could be a meltdown. I'll be honest with you guys, no way I'm buying any equities now, instead of Fall 2008 this could be 2007.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
Aug 8, 2011 - 4:00pm

Well none of us called the close today. Was in SKF and VIXY 3 days ago, while terrified for my future and career, and losing another 2 years of my life to a double dip (whoever you believe, Greenspan or Roubini).

Aug 8, 2011 - 4:10pm

S&P Finished down -6.66%... most inauspicious.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
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