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Everything is on sale!
Seriously! That is exactly what the DOW below 7000 means to me. I'm looking for solid companies that have good balance sheets and have been dragged down with the rest of the market. Ebay, Microsoft, Eli Lilly are all at great prices right now. Do you really think that they are going under? Not really likely. I won't be buying GM or Citi right now, but there are some great deals in lots of other areas of the market.
I've got my 403b on auto-pilot of course, so it is buying me dollar cost average shares in 3 Fidelity mutual funds while the market is down. Sure, it is tough to look at the balance in that account and see that it has gone down from 2 years ago despite putting in more cash each month. But, if I look over to the column for number of shares bought for each transaction, I'm buying nearly double the number of shares each month this year as I was at this time last year. I'm also taking any extra money that I can get together and working to find good stocks to buy in my brokerage account.
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