RE:RE:RE:RE:RE:Tax loss sellingmydividends wrote: So much for the tax loss theory... people are taking whatever gains are left and leaving BLX behind... all renewables are out of favour. And with markets at all time highs, any type of correction will continue to hurt these names further.
I've been following and buying in and out of this name, always thinking I can catch a bottom, but to no avail...
The reason for the sell-off for the past two days is the fear of higher interest rates engineered by the U.S. Fed. Bond yields jumped 15 basis points on the first trading day in the U.S. and yesterday the Fed hinted that rates will go up sooner than had been previously expected. Consequently, the entire utilites sector sold off. However, even with that scenario, BLX is still far too cheap trading at a 35% discount to it's average analysts' target price and remains a strong buy.