This past week I took advantage of a bad market day to reduce my cost basis by averaging down on two stocks, Cummins (CMI) and Wal-Mart (WMT). I also bought Archer Daniels Midland, and Magna International. I bought 30 Wal-Mart shares at $59.24 per share, totaling $1,784.15. I also bought 25 shares of Cummins at $87.50 per share, totaling $2,194.50.
My cost basis for Wal-Mart fell from $63.33 per share to $61.51. My cost basis for Cummins went from $129.33 per share to $108.56. I’ll spare you all the write-up on my purchase decisions. I feel the same way about both stocks as I did a few months ago. To see why I like these stocks take a look at my earlier posts – Cummins, Wal-Mart.
Are you buying stocks now or waiting for interest rates to rise? Are you averaging down on any stocks?
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