Retail component of SPP not underwritten either - instos would...

Retail component of SPP not underwritten either - instos would be filthy on the way the $2.5b comp was priced as they are currently 10% under water. For little guys current SP weakness is a positive as it will either result in reduced vwap or you can but on mkt now. I wish I had waited another week as $29.50 buy in now looking a little exy. I think looking at the long term picture on the banks is a more rational approach. Pretty comfortable picking up more at these levels - will rebound over time and happy to acc on weakness