No Per Petterson we, nor no Luce neither. But today traders are robbing us of some of our paper profits in C and BAC. When the barbarians are coming over the walls it behooves one to look to his defenses.
What we have here is the inevitable downwave. When this exhausts itself we will be increasing our commitment to these two not-beloved banks. In the meantime we will honor our stops if the downwave reaches that far. We have marked the Basing Points in both issues and calculated stops based on a 5% filter — you could use 6% if you were stubborn — and feel as we do that these issues will be worth five times this much in 2 years — ill deserved as it might be.
Stop C: 4.18
Stop BAC: 16.78