I'm right with you. I thought about getting back into BKE when it got to 23$ but I think it could go lower. It's pretty obvious that if corporate hadn't bought back shares that it would have gone a little lower.
If this gets down around 20 I'll buy in, but otherwise I'll probably just look elsewhere or set on cash. I certainly don't want to be the patsy in this market and you'll never be the patsy when you pay bottom dollar. Why shouldn't you?
I wouldn't be selling shares I already owned right now though.
I'll let you in on a little secret. I don't mind telling because I'm a nobody and little heed will be given to my humble opinion.
It's been said that 77% percent of the people in the country live paycheck to paycheck.... The jobs situation sucks, the rich are the only ones with any savings left, and "average Joe" has all the debt he can handle. Where is the money to drive the market up?.... and the answer is.... ding,ding,ding.... NOWHERE.
I'm not saying I'm really bearish, but there just isn't any new money around for a sustained move upward. Buy low and sell high right now. BKE is a superb buy at these levels. The economy may be weak, but there are also some excellent deals out there.