TheKoziTwo
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July 05, 2013, 08:14:05 PM

I've placed my bid at $56. Too soon?

Don't think its soon, I placed around that, just to play the bounce. But I'm very doubtful its going to be the bottom. Probably we will bounce a few times from the 50s, and despair and capitulation will take more time to come. We went from $105ish to $66 very very quickly. I guess there will be a "wait and see" period sooner or later.
I'm thinking along those lines as well, I'm unsure how high the bounce will be though. I think I may aim for about 70-80 range.