Panic selling !!Comparing MFC with N/A Big Stock Exchanges in Q2 2010.
DOW dropped 10.56%
S&P500 dropped 12.0%
TSX dropped 7.7%
Average 10.0 %
MFC dropped 23.7%
At this run rate, a 40% drop in the markets and MFC will
be worth about a $1.00.
Then what about the $3B MFC will be making in 2010?
Also the stock markets turned upwards, so far, in Q3 but MFC continued
downwards breaking new lows.
Consensus is 46 cents per share dropped in Q2 ( I don't believe it)
If it true why would 46 cents drop in earnings wiped off nearly 28 %
of MFC stock price ($20.25 to $14.63)
and the Experts on this Board are seeing $10.00
MFC said they are not going to lose money on the segretated funds nor
are they losing on their Insurance business, so why this panic sell off?
Its the dividend cut, stupid !!!
MFC is way oversold !
Buy, hold and prosper !!