Bizarro World - We Must be Nearing a Bottom
The Headline Reads "Wells Fargo Slashes Dividend by 85%" and yet the stock closes UP 6% on the day.
Okay, I get it. I know why they did it. But pause for a moment and take that in...breath, deep inhale...slowly exhale. A company SLASHES their dividend 85% and the stock went UP! Un-FREAKING-believable.
Shouldn't this work more like a company slashes their dividend and the price plummets? Or raises their dividend and the stock price goes up? Isn't that the way it should work?
So now we take news of a company taking steps to survive as good news. BIZARRO. A year or two ago if we read about a company taking steps to survive we would have been dumping the stock. Who wants to own a stock that will "Survive"? NOT ME! I want a stock that will THRIVE.
Check out little UVE. They just increased their quarterly dividend 20% from $0.10 to $0.12. At the end of '08 they even declared a special dividend of $0.09 for a total of $0.49 for '08. Survive or THRIVE? I'll take THRIVE, but that's just me. I'm in it for the money.
Good Luck to all. PLAY TO WIN!
P.S. My little website had over 14,000 visitors in February (a new record, Yeah). On pace for 20,000 in March. Unbelievable. And the coin is becoming fairly noticeable to the family budget. http://www.mysoftballcoach.com/streams-of-income.html