RE: So far not so goodLady_Phoebe...sell some options ...your not that far out of the money and you can make back 5% easy. Besides a 5% dip is nothing... I have hung on to stocks that dipped as much as 60% ...waited out the cycle and made a very nice return.
The question is are you shorter term trader... in which case I wouldn't be in BANKS ...or an investor ie. a long term holder. With what I have made off just my options and shortly my Dividends I am almost back to even on my CM and not far off on my BMO...but I am not selling... so it matters not.
I want to collect those Dividends every quarter 6800 shares @ .70 cents for BMO =4760.00 and 4800 Shares of CM = 4176.00 and 500 RY = 250.00...for a total every three months of 9186.00 or 36,744.00 per year! + option premiums... stock price doesn't mean that much...right now.
The BANKS will recover and I am staying put and adding... 300 more BMO and 200 CM today and just because the chart was talking to me 500 RY.
Sold my 6500 DML ... for a nice profit today to buy the above mentioned stocks but (small warning)
I am holding back some cash to see if the Mid March lows return and then I'll really be adding. BANKS are still way way over sold...and eventually they are going to spring back and fill some growing gaps.
Not telling anyone else to buy do your own DD.
Cheers