>>I don't know if it's true, and it scares me because it makes me want to buy more on Monday - whatever the cost to my personal finance -when it could be just a rumor. The BII thread on Stockhouse if full of speculation and hype.
Don't get me wrong, I'd love to buy more, but my money is tied up in other investments.
If anybody on SI can substantiate (ridiculous I know, short of being Paul himself) this "news", I might pay more attention to it.<<
Denise, this bit of advice might come back to haunt me but here it goes . .
If you were happy with the amount of shares you had when you bought them then you might want to hold tight.
I too am in pretty deep on a relative scale, and this stock right now is blowing away the rest of my RRSP blue chip Canadian companies. So it is hard not to think about how much better off our nest egg would be if I had a whole bunch more.
But what would happen if the market tanked big time, and the party poopers were right for a change. If you extended yourself to buy more, could you stand a big hit in the stock price the market was down for 6, 12, or 24 months. I don't think it will happen, however let me throw this out for everyone to chew on . . . Mr. Greenspan went before the Senate a few days ago and told them that he thought that the President of the United States and Mr. Rubin were wrong to consider putting Gov't pension money into the Stock Market. Today, the Canadian and US economies showed stronger signs of life than many of the analysts expected today. What if Mr. Greenspan decided next week (and he is scheduled to speak) to cool off the economy by raising interest rates. Think of the effect on the stock market then. The mass selling would bolster his theory that the President shouldn't gamble with the US people's money. If you extended yourself on Monday, and the market takes a hit, then you might not get to go on that little rendevous with Sili.
This is why I spent the afternoon cleaning up and covering my margin accounts. I will not be here next week to watch the action. But I will say again, that I will not, and have not sold down my position on BII. I have reached the end of my comfort zone and I can live with that.
Boy, yesterday was more fun when I wasn't so serious! |
