Friday, March 7, 2008

When everybody is selling is it the right time to buy?

Where will this carnage stop! Will the sensex touch 14000? It's so depressing I have stopped logging into my D Mat accounts.
Reliance Energy, bought at 600, my good luck charm is plummeting ...Doesn't this Energy starved nation need Power? Today I received an SMS saying : 60 shares of Rural Electrification Corpn Ltd Credited to you dmat a/c. Power and Infrastructure will come up again.

What's going to happen to American Economy? What about our own fundamentals?
...this is much worse than May 2006.
Well, one must wait it out. It seems like a good idea to wait for some kind of stability before bringing out the shopping basket. I did some shopping when the market first the same stocks are available at lower prices.
Many investors have stopped reading any stocks news or watching Investment channels. According to CNBC TV18 it's a 'no buyers' market. But I know many investors who have no intentions of selling. They are just waiting for this volatility to end.
It cannot go down much more... When I last checked L&T was available at a...what Udayan Mukherji would call, a mouth watering 3000 and ICICI Bank at less than 900. I think it's time to be brave...or will that be rash? When everybody is selling, it's time to buy. We do exactly the opposite.
I remind myself to keep patience. God willing, by Dec 2008, we will have touched 21000-22000 :)


Anonymous said...

keep buying. 1-2 years later you would be the one with the broadest smile among everyone.

buy when everyone sells and sell when everyone buys.

Indian Home Maker said...

Thanks! In my heart that's exactly what I feel is the right thing to do too. Just visited your blog, and realized you are liju philip! Thanks for the visit, I have read your comments on 'The Naive Indian'. Adding your blog to the list of the blogs I read.

Anonymous said...

ya, actually i had commented on ur blog earlier too. but blogger has a problem listing wordpress and other links. looks like they have sorted it out now.

thanks very much for adding my blog to your reading list. will do the same too. cheers :)

Mampi said...

was thinking, should i dabble in the shares? and the thought has been with me for about 3 months, have opened a DMAT but done nothing so far. Guruji Krupa karein, thora gyan dijiye...

Indian Home Maker said...

This is a good time to start dabbling, when everybody else is counting their losses. You can take classes, which, I guess, is always the best way to begin. Most Brokerages will be happy to guide you. Check on the online sites of Sharekhan, Motilal Oswal, but...ICICI Direct, I think, is better. Just call their contact numbers and they'll leave you in no peace!