The TSX Venture index, less a bit of inflation, is back to where it was 5 years ago, in September 2003.
I guess we have to look at where we are as a "correction".
Mantra to myself today: "reversion to the mean." What is too-cheap gets right-priced again.
Plus - 1,000,000 shares of selling pressure on KXL toay, and at least the stock held up at a buck.
The way I look at it, there are a whole whack of people out there who bought in the past at 15 or 35 or 50 cents or some cheap price - and when they get scared (or get margin calls), they bail and they can still say they've made a profit.
Now, what's more interesting to me - is who picked up the bulk of those 1,000,000 shares today at about a dollar each. Bargain. As per the Monty Python song, "yum yum, de yum, de buckety rum, ..."
Me, I was salivating to buy more today, but I'm out of cash and full up on KXL shares. They're everywhere here - filled up the tea tin with them, and they're under the bed, in the laundry basket, under each lamp in the living room. If I buy any more I'll have to start sleeping on them. "Kodaik-pedic", has a nice ring to it.
Can never have too much of a good thing, though (?), eh!
Bargain.