Humble Pie? Not quite yet on BOQ.
One needs to differentiate between the results and the market reaction. The former is based on facts while the latter is based on market makers and sentiment (and sentiment for the banks is not good atm). When there is a divergence between the two, like I propose there is in this case, that is a chance to make money. I think the results were fine so therefore I don’t mind with the way it is travelling and I will continue to follow my entry plan (which is designed for me according to my financial and time constraints, so not suggesting other people should adopt it), and chase it down into the low 9’s if it wants to go there.
There is little doubt in my mind the SP is heavily influenced by the BOE, so the buy/sell depth means absolutely bugger all imo. It’s designed to create whatever illusion the market maker wants to create. I don’t even look at it atm. And things can ALWAYS go lower......
Of course if I am reading this wrong, I will lose money, and then I will eat humble pie. I have been wrong before and I will be wrong again. That is the way the cookie crumbles.
Anyway, as you say all is not lost, because everything should be alright now we have a BUY recommendation from our very own self proclaimed guru!
Cheers big ears.
