September 3, 2010 | In: Opinion
7 Stocks I Should Have Bought Last Week
Looking back at last week, when the market was horrible, I have spotted many opportunities, but unfortunately I didn’t have the money to buy the stocks, including:
AAPL: The stock went down to less than $240 last week. Anyone who had the money and knew the stock and did not buy it at this point must’ve been insane. AAPL is always a buy below $250, regardless of the antennagate and other scandals.
BAC: If there’s a stock that I really hate, it’s this one, at one point last week I felt that the stock was in a freefall, it almost touched the $12 level. I own BAC, and when I sell it (I hope soon), I will try not be seduced to buy it at ANY price (I don’t think I’m going to be able to do this though…). I do think though that BAC was an obvious buy once it was below the $13.
BP: BP has HUGE support at the $35 level, there are lots of buy orders that are automatically executed once it reaches this level. The stock reached $34.20 last week and it closed today at $37.43.
C: Citi is ALWAYS a buy below $3.70, and it went down to below that level last week. I do own Citi, but I’ve bought the stock at a much higher price (Lesson learned for me: Never buy your full position in one shot, just buy 1/3 of your position when you feel the stock is worth it, and if it goes down buy another 1/3, and if it goes down again buy another 1/3, try to leave a few days between buying, and always look at the volume).
GOOG: Google went down to the $450 level just based on the bad news about the economy. Google, in and for itself, is doing fine, and is always a buy under $480. I have to say though, that the margin with GOOG is pretty small, and the stock is very expensive, and I don’t have an unlimited supply of money. I have never traded Google.
MAS: I owned MAS and sold it before, and I think it’s a very solid stock, the stock has a solid support at $10 (the stock was heavily bought in a very bad day last week when it reached $10). MAS, along with BP, and C are on my watchlist.
MFC: MFC has rebounded this week from a low of $10.60 (imagine how much money you would’ve made if you bought at this level, but then again, it’s nearly impossible to be right everytime about these things, in fact, you seldom are). MFC is currently trading at $12.71, and I still think that it’s a good buy at this point.
I knew they were opportunities but I missed them. I’ve done the wrong trades back in July and I paid for them by sitting on the side for almost the whole month of August. I have to say though, I have learned a lot of lessons during that time…