RE: RE: Anyone else buyingThats what I love about Canadians - even when things are on sale, we worry that perhaps we can get it cheaper - not whether it is good value where it is. The markets really intrigue me - basically we are frogs in a pot.
We all held BNK at $8.5 a week ago, but would not sell. Essentially the decision to not sell is the same as a buy decision. One guys has $8.5 cash and decides to buy, at the end of the day he have one share. You hold one share at the beginning of the day and don't sell, you have one at the end of the day. You and the other guy made the same decision - you chose one share instead of $8.5 cash. So if someone was willing to buy last week at $8.5, why wouldn't they buy today at $8.0? Thats a 6% drop. The overall market has dropped less than 2% - so relative to the market BNK is better value today than it was at $8.50. And yet - I'll wager there are "longs" on here lurking that have sold BNK in the past two days.
I love the psychology.
BTW - someone just helped shorty close out 70K shares at $7.97. The bad part about that is that shorty can start all over again with those 70K shares.