The Chinese market falls off the cliff and we jump after them. What kind of sense does that make? It still amazes me when EVERYTHING on my screen shows bright red numbers… BIG bright red numbers. Let’s all be honest here, it has been awhile since we have seen anything like this. Today was fascinating in a train wreck have to watch kind of way. The thing that kept going through my mind was that something, somewhere had to be selling at a good price.
Philip Morris, my old friend, closed at $82.67. I believed in them at $85.50 just a few days ago, so today seemed like a sale price. I picked up some shares at $82.47 in after hours. Either you believe in your picks and you push money into the pot or you don’t believe. But you can’t make any money unless you are in the pot. Well for me in Philip Morris I trust.
That’s it for today. Here’s to keeping you margin amounts small and your decisions solid. And to keeping an eye on your EveryDay Money.