Post by
ScarletSpider on Feb 29, 2024 10:08am
Should Not Be Trading Lower Than $64
Price looks to be declining most likely by shorters this will have a year target between 67 and 70 as was stated before. There had been stupid low ball ranges of 52 and 55. I strongly believe this will be closer to 70. With rates more than likely to be cut 2nd half people are not sure be it June or later that will provide some relief and less mortgage defaults with that less toxicity in the mortgages. No way rates wont be cut as the mortgage rates are too taxing on people. I am holding my shares strongly while shaking my head to all this price stupidity prior to this qyarter despite projections od 67 to 70 target people i am sure shorted causing shares to tumble to 60 plus change. Ok i will look to buy shares they will only move to higher prices so while annoying not all bad providing the gamble works if not adding i will just hold my divie aside and build bank. Either way i would not sell below 64 even if the price goes less way more up than downside. People clearly have been screwing around to get shares anywhere from 1 to 4 less on average 2.5 i would say. Whatever jusr like i said a joke to trade under $64 imho. Good to see it beat expectations look forward to seeing that again. The toxic loans will likely keep working out through the year with setting up possibly a better coming year providing there are no more stupid rate hikes which once cut they need to be sure and keep cutting accordingly. I said it was very stupid for governments to have raised them in the first place it really hurt the food and shelter affordability. That said like the Bank of Canada said this will mark the end to historic low norrowing rates as low as .25 they will likely hoover 2 to 3 percent. Goal is to get it to 4 and from there 2 but i see 2 to 3 as the range 2 giving a bit of leeway and hopefully thise flush with cash will not whine about this that is really what has been killing the markets 4 plus i can understans but not 3 or less gone are those days. That said it was stupid to have not called it what it was a recession although that would as reported hurt the banking stocks and not what they would like to hear but in it the rates would have been cut abd most likely less defaults so a double edge however given toxic mirtgages i suspect the net outcome would have been more favorable although we would need to factor in when eates down people will likely spend as they think we get near 0 savings so why bother however banks need to be real xareful on defaulters...some like myself banks love me i talked about my debt i cant easily pay it off but i can manage minimum payments but will not default so they love me however others will default so they need to be xareful balancing me ans them as that is all borrowing loaning provisions and if calculated properly and adjusted they can project out how to stay profitable especially if they leave room for other risks or putting money to make money which in the bear to mid term will likely put them back. In any case, onwards and upwards lets see when sense and sensibility return to the share value here...less than $64 discount nore than $64.64 is moving on the higher end but the next quarter and through the year should be favorable with a 67 to 70 price target most likely being quite accurate. I think it will be closer to $70 if not adjusted up as rates get cut and toxic mortgages drop off. Looking good for uoward trend overall.