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  • tremulousbull tremulousbull Jul 31, 2011 9:22 AM Flag

    who would buy stock when it just plunged?

    May 4th 2010, I bought during a mini flash crash NLY was having, around $15.50. This was 2 days before the big flash crash. Since then I have always had low buy orders set up in this stock for this event. One triggered last Friday. I also bought this stock multiple times in 2008-2009 and averaged about $13/ share. It has paid me almost 18%/year on my capital since I started buying in 2007, and is still trading higher than my cost basis.

    Other than that I can't think of a good reason to buy low :-)

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