Thanks Tom.....what I said last week was one days worth of this up down cycle didnt mean shit....I was talking about the 77 - 84 range rmbs seemed to be stuck in.....and I simply commented that it didnt matter because we were in that range. I mean who cares if it's 79 or 83 when essentially we know it will be in this range for hours, days, weeks, months.....until something causes it to break that range.
Today, to me, it looked like the range was taken out...clearly and this obviously causes one to reaise one's eybrow's....wouldnt you think? I mean, you were not the slightest bit curious as to why RMBS would hold up so well in a down market, set in a clear trading range, and then boom, break that cycle hard to the downside, when the naz is recovering around it?? That doesnt make you curious?
I guess if I had that much dry powder, I wouldnt worry about it and would do as you say...buy more....heck, if my pockets were deep enough, I could buy it and keep buying it all the way down to $20. Unfortunatly, my pockets do not allow me this honor.
Keith@steppinonsometoesitlookslike.com |
