Friday, October 06, 2006
Hey, Where the Dip Buyers Go?
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.