Time to Open your Purses and Start Buying

Friday, August 10, 2007
By Faisal Laljee

It has been bloody, but finally now, prices seem to be reasonable on some of the stocks I have been keeping an eye on. Apple (AAPL) for example, it down 25 points, Crocs (CROX) is down 20% to levels it was at before it announced that great quarter, RIMM has come in about 10% from its highs, and McDermott (MDR) has been pummelled down to under $80 despite fantastic earnings. One thing to remember about MDR – it was up almost 100% since April. It had to have corrected and the current level represents strong support. Time to buy all these names.

– Faisal Laljee
Full Disclosure: I am long RIMM, MDR and CROX, but my position can change anytime without notice.

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One Response to “Time to Open your Purses and Start Buying”

  1. TraderMark

    Faisal,

    I so agree with these comments, although I think we will retest the lows of 12,500 area in the near term. MDR pullback befuddles me but right now the whole sector is under fire. Buyers here at these levels will be very happy by Spring 2008

    p.s. put a link up to your comments about GRMN, NVT on my blog.

    http://fundmyfund.blogspot.com/

    #504

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