A great day to buy some stocks cheaper.
 

I picked up BestBuy: http://finance.yahoo.com/q?s=BBY

and

ConocoPhillips: http://finance.yahoo.com/q?s=COP

Re: A great day to buy some stocks cheaper.
 

Yup, I got some BestBuy - they came in at 28c a share earnings instead of the predicted 30c - but not justification for a mighty $6 fall! - I think BestBuy is huge, selling 10s of billions of dollars worth of stock each year. If we're right that earnings report has given us an early christmas present which we'll cash in in January :)

ConocoPhillips is interesting. I'm not so sure about it. When they announced last quarter's earnings I made a load then by buying when the shares fell through the floor and selling two days later. But now they are going to spend $35 billion buying Burlington resources to get hold of their natural gas. The shareholders are mostly pissed off - they wanted a stock buy back instead to increase share price. So I haven't bought back into COP yet - I'm watching it though to see if the Burlington purchase pays off.

Edit:

Here's the chart for COP...

http://data.moneycentral.msn.com/scr...6&EFB=254&E1=0

Note two large gapping downs in two days. I would be worried it may happen again. You may get a chance to buy more COP even cheaper.

Re: A great day to buy some stocks cheaper.
 

Yes, but it was a smart move. The money is better off being invested to increase capacity than to do a share buyback. The company has such strong fundamentals also. Oil and natural gas problems aren't going anywhere soon, Natural Gas futures hit a new HIGH today, and they are aiming to increase capacity, gotta love that.

Re: A great day to buy some stocks cheaper.
 

BestBuy I am real happy with. The reason estimates are 2 cents lower are because expenses outpaced revenue. Revenue grew 10%. The management admitted that some things they were spending money on weren't working. All they have to do is cut back in the wrong area, and now only will we see this 6 point make up, but possibly even higher. There is also a buzz the holiday season is stronger than people think (every article I read calls holiday sales lackluster). Only thing I would be worried about is inflationary woes coming from the Fed at the end of January with an interest rate hike, but I think everyone is already expecting it. A 6 point drop is too good to pass up.

Re: A great day to buy some stocks cheaper.
 

WTF - The Dow just jumped 80 points in 5 minutes!

Edit: Seems the Fed has raised interest rates to 4.25% but plans not to do it again for a while - GOOD news for Christmas - let the rally begin...