Yesterday was a down day. All my bank stocks lost more than a buck a share. Today the Royal Bank is up about $2.70. That's simply non-nonsensical. The bank's true value has not fluctuated that wildly over the past 24-hours.
I'm watching my stocks and considering lightening up when move up and into the black. Why lighten up? Because I see more dips in the future. I could be wrong, I've been wrong before, but I know I'll be more comfortable being a little less exposed in the coming months.
But I will keep a big presence in the market. I must. I need the income from the dividends. There is a limit to how much of my investment portfolio I can afford to jettison.
The following was added two days after this post was originally written. The day after this piece was posted, the bank lost value. Oh, it didn't lose even a buck but it lost a fair amount. And the next day it was down for much of the day and then headed up and into the black before the close. It gained 12-cents for the day. As I said, volatility is rocking the market.
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