Sometimes when you get the real animal spirits going you can't nitpick.
I know that the Celgene (CELG) upgrade today was wildly late. Where was the BMO Capital guy when everyone was worried about the Revlimid patent issues? Did Goldman just wake up to the dominance of Netflix (NFLX)?
And how about the sellers? The sellers of so many stocks, those panicking, the people who couldn't take the pain, the midnight downgraders.
But you know what? That's not how it's played.
What you do is you try to find stuff that's gotten banged up that you think reflects more than the banging that might come to it.
You find stocks like those of Boeing (BA) and United Tech (UTX), kept down by the possibility of no renewal of a subsidy that might actually be renewed. Is someone really going to go to the mat to stop one of our largest employers from competing with Airbus? Is that what things have come to?
Or you go after stocks like Google (GOOGL) that have lagged, or pick among the airlines as they recharge.
Don't just stand there, research something. Be bitter about the soccer match, not the latecomers and the naysayers.
And always remember something that you tend to forget on days like today: occasionally the market goes down and you get a better chance to buy.
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