Friday, October 06, 2006

 

Hey, Where the Dip Buyers Go?

Ok, let's make a few things abundantly clear:

A. Semiconductors are a fucking deathtrap (MU).

B. The economy is slowing down too fast.

C. The dip-buyers don't care. They just go long stock, all the time.

Now, I must admit, barring a miraculous comeback today, it appears the sellers have the momentum and normally I would go short stock, prior to the weekend. However, if I am to obey the recent trends, today is a buying opportunity. That's right, buy on the dips-- its been good for your portfolio.

Frankly, its not that bad out there today. Despite end of the world type numbers out of MU and a pathetic jobs report, the market is not down nearly as much as I expected.

Bottom line: Until the trend reverses, today's decline is a buying opportunity.

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