E*TRADE has released a new commercial to promote its investing, banking and guidance services.
The spot, titled “Buying the Dips,” features a public bidding sale where participants place bids on dips. The first “on the menu” is “an exquisite bowl of French onion dip,” for which the host starts the bidding at five dollars.
Among the auctioneers are a middle-aged cowboy and his wife, a blonde lady holding her small dog, a pair of twins, and a young couple, who become the owners of the bowl after bidding the most ($7). The ad goes on with the next auctioned item, which is a spinach and artichoke dip beautifully set in a hollowed-out loaf of sourdough bread. At this point, the line “If this is your definition of buying the dips maybe trading’s not for you” appears on screen.
The commercial ends with the voiceover saying “Don’t get mad, get E*TRADE. And get more than just trading. Investing. Banking. Guidance”.
According to Dave Manuel, if you “buy the dip”, this means that you are planning on using weakness in a stock (or any asset for that matter) to lower your average price in a position. You decide that you are going to “buy the dips” and purchase more Google shares every time that it drops a certain amount.