Just a quick note: I purchased 10 shares of DIA at 105.14 or thereabouts this afternoon. I had originally owned this stock (ETF) about three years ago, and regretted selling it. I was finally able to buy the shares back cheaper than I sold them. Of course, I lost out on the dividends on the intervening years totalling over $6 per share (after tax); I think these stocks represent a good price, and that the bailout (part 2.) will pass this time around, so I’m kind of expecting a turnaround shortly on the DJIA. Whether it will last or not, I don’t know. But the PE of 12 and yield are beginning to look attractive.
Oddly, though, the stock is already cheaper than I paid. I guess the markets don’t have any confidence in Congress as it’s already trading down.
I’m not recommending this stock, etc. please read my disclaimer.
Posted on October 2, 2008 by InvestorBlogger