RE:If This Isn't Capitulation, I Don't Know What Is...I have to agree with you Joe. I was very tempted to buy more today but will wait until BCE finds a base. I'd rather miss a buck or 2 on the way up than trying to catch the proverbial "falling Knife"
So much panic on this Board. It reminds me of the panic posts about Enbridge, TransCanada, Telus and more about the dividend being cut or eliminated when they hit multi year lows. That has passed with those share prices recovering somewhat and the same will happen with BCE. Wasn't it just last October the Banks were facing huge mortgage and loan defaults from the so called experts? Our Banks were for the most part trading at 52 week lows but look where they are now...some at 52 week highs a few months later.
Lots of talk about BCE being at a 10 year low. Take a look at the 10+ year charts of ENB, TRP, T, TA, NPI, EMA and CU to name a few. They are all for the most part near or below where they were 10 years ago. If you really want to see decimation look at Reits...now those have a really ugly chart.
BCE has maintained it's credit rating (for now) and I don't see that changing if they follow through with the plan they have laid out. Interest rates may be higher for longer but I'm pretty sure in 6 months to a year once they start to drop it will give a massive boost to dividend stocks. If the CRTC gives any compromise to their last decision it would be another positive boost to BCE.
I was underweight BCE a week ago having sold most in the mid 50's a while back. I now again have what I consider a full position. Once I see positive news combined with a BCE chart that shows it has based I will go over weight.
I hold a core position in many dividend stocks which I don't trade, TRP, PPL, ENS (instead of ENB) CPX and others. If a stock gets to a point where I don't see much upside I will trim the position and reallocate the funds to stocks I feel are undervalued.
JMHO