I love the general sentiment on this board. I just added at 6.60 after reading the annual report. My investment strategy is: 1. Income generation 2. Preservation of capital. To say the least, I am conflicted re SAN. It is now my second largest holding accounting for about 6% of my portfolio. LOL to us longs.
I am seriously considering initiating a position in SAN. I got out of the banks a while back, but would like to add at least one back to my portfolio. I am torn between your view that the panic will continue and SAN will be swept away in it, and the idea that it will hit support above the 5.00 you propose. At this point I will keep watching it before I pull the trigger.
I think we have bang up earnings this quarter. I also have positioned myself to enter slowly (not all at once) so if it continues to drop I can continue to buy. I personally feel we don't see sub 5.50 levels again, last summer was a completely different scenario.