That's why the speculators picked the wrong company imo to use as proxy for Spain...sort of stupid to equate Santander with Spain when 83% of its business is outside of that country. The fundamentals still there, hasnt gone away, business still booming in Latin-America, US, UK, Poland...
Gordon - i don't day trade with a 4x leveraged couple grand as you apparently do. I invest and as such was nimble enough to buy the core position when it tanked over the summer. I play with profits and thus have a margin of error built in to absorb the VAR changes. Where were you back in June? How much did you make on the run up to 13+? not much is my guess.
Are you watching the accumulation? I didn't think so.
Happy day trading buddy. I am here for the long ride.
That's why this selloff seems so speculative and really doesnt make any sense.
only 17% exposure in spain and even there their net interest income was up this quarter. 83% of business in UK, Lat-Am.