I believe that the market bottom is quite a ways away both in time and in measurement of the indices. I'll stick with my 4750 DJIA target.
But, I must confess that I made three purchases this week. Here they are and why:
-General Electric (GE): Are you crazy? Are you aware that they just cut their dividend 66%? Are you aware that they might get their rating slashed? Yes to all of the above. I like their position in infrastructure in the Far East and Middle East. At $6.70 per share, I decided to make a pilot purchase.
-Ford (F): Now you're really smoking crack! Well, here's my theory. One auto company will survive. Automobiles are the pride of our nation. Ford is the healthiest and the Feds will prevent at least one from dying. More importantly, I believe that Bubba will always want his F150 to drive. I bought at $1.78.
-The United States 12 Month Oil Fund LP (USL): I have a large position (for this little guy) in USO, also an oil ETF, but recent articles regarding the contango in USO concerned me so USL appears to have a better method for rolling over oil contracts. Basically, I believe that fear, hoarding, and geopolitics will drive oil higher in the future......and supply/demand might play a factor also :)