This magic moment....Greetings gentlemen,
I will assume we are all men, because of our clear...astutenes in the investment world! Wink wink.
Well, this is the big moment. The final countdown; the walking down the aisle; the taking the lid off the pot; the dropping of the puck; the final penalty kick; the drying of the paint; the last spike; the final turn of the Rubik's cube; Knowlton Nash's last broadcast; the warming up of the printer; the acceleration down the runway; the bud about to bloom; the calm before the storm; the warming up of the orchestra; the buzzing of the modem connecting; the start of the movie; the first steps of a baby; the dawning of a new day; the sitting down in front of a plate of bacon and eggs; the moment of unwrapping the burger; the pizza has been delivered; the furnace has kicked in; the strawberry sundae is on the table; the kettle is on the stove; the sprinters are in their blocks; the bell has signalled to boxers to start; the starting gun has been fired; the domino has been toppled; the opening ceremonies have started; the box of cereal has been opened; you just hit play for the Fleetwood Mac hit "Go Your Own Way"; Phil Collins is just getting into the juicy bit of "I Can Feel it in the Air Tonight", the remaining fragments of potato chips have been coralled in the corner of the bag, ready to be tipped between awaiting chompers, in short, the MOMENT has arrived; specifically, this price action is **precisely** the sort that heralds the arrival of Fairfax on the scene. I've seen it many a time before. Will it be for an actual buy-out? Doubtful. Will there be significant price appreciation? Very likely.
We are on a steep bit of the mountain...with no ropes. This is a tricky bit, but we have prepared and can handle it with ease.
There might also be some (seasonal) tax loss selling...where folks dump losing positions before year end for some sort of tax advantage, then re-buy the shares in the new year.
Have no fear gentlemen...have no fear...you need onlly remember Mr. Farley from Three's Company when he would pull his pants way up...sure that something was amiss, but never being able to figure out what it might be!