Today
For the impatient retail shareholder the wait for a substantive transit win may seem interminable. These contracts do take time. They will come, but my chief fear has been, - will we be sideswiped by a general market meltdown? For example: was today the beginning of a downturn or merely the mock?
But when GSI hit .60 in today’s market malaise, the sharks displayed a buying frenzy. That it recovered to .63 on such a day is telling; indeed, even when the general market occasionally did bounce back in the early trading there were pockets of good buying, suggesting that some thought prices were simply too good to pass up, even if the general mood was pessimistic. So I would hardly consider today’s action a rout.
I do hope that Fidelity is continuing to buy, thereby forming a strong base around which the rest of us patient longs can coalesce. I believe there must be some sort of institutional presence develop here before we move forward. The transit contracts will come, but we must be patient.