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It's not really that hard to catch a stock on it's 52 week low. Most people following a stock make more than one purchase, so sure you bought on the low, but maybe you averaged down.. And honestly, it's not that hard, especially during a crisis.. I did it at least twice last year thanks to March '09s epic shitness, I did it again a month ago during the Thai crisis.
Also on this occasion 29 is a psychological barrier having just broken 30 into the "20's". It's one of those "$1.99 isn't $2" things. You might think that's silly but when people are selling you very often see incredible depths on the round figures, that might be 2c on a 1.8c share moving up or 20 on an 18 dollar share. People don't like to sell for 29 because it's not $30, conversely they like to buy at 29 because it's not $30. It's only a slight tendency but I can completely believe that someone that might have been holding off buying (or averaging down) through to mid to low 30's would finally hit the trigger on on $29... Also, maybe there was massive and building support at 28/29 and sellers getting thin at 30 and it looked like things were turning around? *shrugs* Finally, you make enough trades and you're going to get lucky. If you've never traded before and you buy one stock at it's yearly low and never buy another again, fine, thats pretty good, but what does your average investor (as opposed to day trader) do a year.. 20-50 trades? A broken clock is right twice a day, if you don't buy on a yearly low at least once every 5 years you're probably not doing enough trades ;)
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