Thursday, July 23, 2009

Buy stock tomorrow?

Today, the market was up big. As a result, stock portfolios should be at/near 1-2 year highs. Unfortunately, tomorrow is going to be a rough day. After hours, Microsoft, American Express and Amazon reported "bad" numbers and a pullback is likely.

For frequent traders, I don't know what to tell you. For people looking to add to their positions with a long term timeframe, tomorrow should give us a decent buying opportunity. Essentially, we will be able to buy stocks at 2-4% less than we could have bought today. Bottom line, start looking towards using the correction to buy. Whatever you do, don't buy on "up" days.


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