While ED is hanging arout this level --it can be bought about $9 below its high for the year. You don't need a lot at one time. The current $2.42 annual dividend gives you about 4.3% while you wait for it to go up. $1000 buys you 17 shares to add to your cash dividend each quarter and bulking up your portfolio balance when it does. This is an opportunity to buy more shares cheaply if you take advantage while its in front of you.
Oh God, I sold EXC at a mild profit a while back. I hate that stock. Fundamentals were fine, but it was doomed by technicals and political pressures. Too cyclical. That stock is what made me realize that you really, really need to look at technicals, too.
ED is down because of Sandy. Look at FE in 2003 w/the NE blackout, it took a dive, too. Recovered fine.