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When stocks are way down you look for undervalued opportunities and buy low. A friend of mine bought a few thousand shares of GM stocks last week for just over $4.50/share and sold some early today for well over $7/share; he's an optimist so he's holding the rest more long term...believeing that in a few years it will be worth multiples of the purchase price.
I'm seeing quite a few similar tempting opportunities.
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