Been away from my screen for couple of hrs and surprised to see RXP had gone as low as 61c. My initial disappointment (i paid 58.5c a while back) now changed to thinking.... if mkt drives SP back to below 59c I'll simply buy more. The HY report is exceptional as is the outlook. Soon enough the size of fluctuations will moderate, vols drop off and SP find its IV. Meanwhile the volatility provides opportunities... for both buyers and sellers.
Is it any wonder more and more companies are announcing buybacks. i expect we'll see plenty more over the next 2 weeks. For firms with solid revenue/margins and decent balance sheet, its the way to go imo. RXP not there yet but plenty others are.
RXP Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
