Back in the Market

October 21, 2008 at 10:49 pm (Money & Investing)

Yeah, so let’s see how much I can lose this time 😛

Just put about a grand into Reliant Energy (RRI) this morning.

This is a stock that got hit hard over the last few weeks after the market had a huge dive when that 850 billion dollar bailout was immediately judged by the market to be not enough help – dropping the price nearly 75% in a matter of a few weeks. This stock was at nearly $30 a few months ago, and last week had a low in the $3 range.

However it’s financials all look good, so it looks like it probably took a much heavier hit than it should have, and appears to be in the first couple of days of starting a strong upwards trend – in fact just today the stock went up nearly 7% (a little over 4% from the price I bought it at) – and this was a day when most of the market was down after more bad market news.

Looks like this one may be a winner – here’s crossin’ the fingers.

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