Bank of Nova Scotia T.BNS

Equities are done!

[mbuch]

Do I sell BNS now and cut my already huge loses? I’m sure all banks are headed to multi multi year lows with these continued high rates and the amount of defaults and bankruptcies on the horizon. How many years or decades will it take to recover from this global financial mess? 

 

The only thing keeping my portfolio from really tanking are my energy stocks and GICs. Just wondering how long before even the energy stocks start to really tank regardless of high energy prices. 

 

We are in unprecedented times for sure. Never say never on your high dividend stocks regardless of their 100 plus year track records.

[1condor]

mbuch...why would you sell now?? Most of the damage has alread been done to the bank stocks. You should be adding if you have the cash. I am just starting to take a position in the banks and taking advantage of this selloff.

[mbuch]

I think a lot more damage is to come. I've already averaged down twice on this stock.  This will be in the $40s soon I'm guessing.  

[1condor]

mbuch..The banks are solid. No worries.

[Quintessential1]

If you are such a great predictor of stock prices and economic trends then why are you averaging down at values higher than the bottom? GLTA

[1condor]

I started a position on this stock about a week ago (as seen in my previous thread)...just as many on this site were things of selling. Why anyone would bail down here at these depressed levels is a mystery to me...but emotions can be tough to contain. I also added a chunk today. Lets see where it is a year from now and discuss again. 

[1condor]

This stock has moved almost 10 percent since I bought just over a week ago. I do not listen to BNN and I certainly dont follow analysts (you know the ones that say SELL at 55 and BUY at 75). You want to loose money then just keep on listening to these over paid clowns.  You will be in a better place just to educate yourself and do your own DD. All the tools are out there for you. 

[FiddyFiddyShot]

Wasn't everyone saying "Equities Are Done" during the pandemic, and then a couple of years later BNS was trading at 95 dollars....lol

[Maglite]

With fear that high, shared by many retail investors, it seems stock capitulation is approaching. Then we can start talking about bottoming and new bull run.