NinjaPigeon - My Flight to Financial Independence

Monday, July 03, 2006

Stock senses tingling...

Okay, they aren't quite as useful as Spidey Senses, but they've been pretty good to me so far.

I've been a little slow in making my purchases, mainly because I'm very particular about what stocks I watch, and how I see them changing in the future. So, the stock I'm currently interested in has already bottomed-out and is in an upturn. I've missed the first 7.5% or so of that, but I believe there is more steam left in it.

My current stock strategy is to find stocks that have dropped in price and are close to the 52-week low even though the company is still just as strong as it was at the peak. This, in my opinion, signifies there is a value to be had, provided there are no lingering problems that triggered the dip. In the case of Walgreens, the dip was greatly influenced by the success of CVS, even though Walgreens was still a fabulous company.

So, with that in mind, I went down to my local Scottrade branch to add some funds.If you recall from this post, the house just sold, which gave me about $2k of money to divy up. So, I deposited a check for $1250, which should be enough to cover 50 shares if the price doesn't rise too much (it's up 1% today).

Anyway, the check won't clear until later this week, but if the price still looks good to me, I'll pick up my shares and see how they do!


Post a Comment

<< Home