Optical telecom equipment maker Ciena (CIEN) has pulled back, and it's time to consider buying the dip.
"Wait for a pullback" and "buy on a dip" are some of the most hackneyed pieces of investment advice out there, and there's often an important detail missing. While it often does make a great deal of sense to buy good stocks on a momentary setback, what investors are seldom reminded of is that buying on these occasions often requires a lot of fortitude. After all, there's usually some near-term reason why the shares are trading down and climbing aboard a stock just as it is careering off a cliff is an experience that sticks with you.
Ciena has certainly...
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