F, GM and C — among others look oversold. Of course they can go from being oversold to being really really oversold, but we bought a little of GM and F (always loved cars), and readers should start thinking in terms of buying and adding on. NOT TODAY. Wait for prices to start up again first. Our buys are in line with our style — motorcycle riding, bungee jumping rapid running, bull running — you know that never satisfied with risking our neck we have to risk our capital too. And we will have a tight stop on them. F right here is sitting on the support line.
For our readers think about it and get ready. A sell off in a bull market is nothing but a passing annoyance and an opportunity to increase your commitment. BUT only when the timing is right, and it’s not right for the prudent investor right now. Wait and see how this downwave plays out.