With today being ex div day, logic says CSE should be off 60 cents, but as of a minute ago it's off $1.45 -- on a day when the market is up and the financials are up. So why? IMHO, we don't have to look much further than naive daytraders who see a downward run and pile on, hoping for a quick buck. There's absolutely no news to justify today's action, so this is probably a good place to add a few shares if you're fundamentally and not technically focussed.
Anyone else troubled by the huge and growing volatility in the markets and by the gradual ascendancy of technical over fundamental trading over the past decade? Today we can get instant info about every little market move on our computers, plus we can make trades instantly for $10 or less, plus we have technical trading tools available like Etrade's new "Strategy Screen" to suck us into the action, and so the attention span of the average investor just keeps going down and down. Ultimately, I think we're destroying investors' confidence in the honesty of the market, and that ain't a good thing at all.
I'm still long in CSE, still trying to buy good companies when they're reasonably priced, but I'm feeling lonelier and lonelier.
It is a scary time to be an investor. You never know when a solid investimate is going to take a 10% + haircut for no good reason. That's why I started holding a core investment but trading blocks constantly to improve my position. It takes a strong stomach and a lot of conviction to do the "right" thing sometimes. I do find myself wishing for the short uptick rule to come back...the volatility is just a little bit too much at times.