Dip Buyers

Yesterday the dip buyers showed up and caused a reversal of early losses to close near even. I've written joculary that, "real buyers do it on dips". I'm distinguishing the real buyers who plan to hold a stock for months or years from the traders, who are "virtual" buyers or sellers and who buy & sell in minutes, hours, days or a few weeks. They can push a stock up a lot as momentum traders tend to act in groups using the same buy/sell signals, but over time they'll sell just as fast so overall cause little permanent change in price levels.

IBD has gotten quite bullish, writing this morning about strong performance in "leading" stocks and many bullish breakouts from solid bases on good volume. They can identify "hot" stocks and even some long term winners, so I read - or at least skim - it daily. Today's "Big Picture" mentioned a number of agricultural stocks.

Yesterday I sold a bit of AAPL in the Alpha Fund. The shares I sold had a 100% long term profit. Taking into account the recent big 40 point rally, I just had too much, so took that long term "sugar" off the table. Position management is important and I monitor them quite often.

C declared its dividend at the same rate as the last quarter. Does anyone else think that Oppenheimer analyst is getting a bit shrill as the stock is going up while she shrieks and keeps reiterating bearish comments ? Perhaps being once right, she just can't turn around and change her mind. Maybe she reads her own press too much. The Greeks called it, "hubris", and their gods punished it.

By the way, I'd like to see Hillary kick Obama's butt by 10 points today in Pennsylvania.

Words of the Day

Today I have three "fu" words ... no, not that one ... sheesh, get your mind out of the gutter. This is an elevating blog !;-)

"Fugacious" - adjective [$10] literary
Fugacious means fleeting, evanescent, hard to capture or keep.
Sentence: Hillary is discovering that broad voter support can be quite fugacious when a superficially attractive alternative candidate appears.

"Fulgent" - adjective [$10] poetic. From the Latin fulgere - shine
Fulgent means shining, bright.
Sentence: Gold American Eagle coins are wonderfully fulgent with lady Liberty on their obverse.

"Fuliginous" - adjective [$10] literary. From Latin fuligo - soot
Fuliginous means sooty, dusky.
Sentence: The fuliginous "song of the chimney sweeps" performed and led by Dick Van Dyke in that great movie, "Mary Poppins" is one of many songs in that movie.

Notice that the latter two words seems quite similar, but have nearly opposite meanings and derive from different Latin roots. So one really must look up words in a dictionary to avoid incorrect inference of meanings.