Futures look to be rebounding; however, we may correct a bit more. We are approaching oversold levels, so I believe it's safe to start "nibbling" at these levels then scale into more over time. I am looking at stocks that I feel are cheap regardless, but also have cash to cost average down.
NSM - will continue to add more on dips
MU - Earnings 9/29 - I suspect earnings will be strong since they are gaining pricing strength. I own 400 shares but may add more. My only concern is that the stock is near a 52-high - however, I think that earnings will be great and it can print at least $10 in time. The semiconductor index is far from over, in it's amazing run.
RTP - Starting to get attractive again. I will wait for a further dip and take back my position. The surplus in steel, iron ore, and coal are putting pressure on shippers and iron ore firms, making it good buy now for 6+ months from now. I think the downside will continue near-term for a slight bit.
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