Exactly right IMHO, Rifici. But the key here is the instos. Instos truly can't afford to throw money away right now as they have copped big losses. So which instos, one might ask, would be willing to drop millions into BNB?
My guess is that it's the ones that somehow......know......that it's going to be all right in the longer term.
Now the question is whether there will be more institutional buying tomorrrow. Have they stocked up? Will others have met in the board room after the close to determine whether or not to join the tide?
Ah, more will be revealed, but since the sp didn't retrace to any degree at the close, there is no reason to believe that it will do so in the morning. Face it, a 20% gain would have made the news as well....but 50% and no real profit taking? Now, why would it go down? Europe is up well over 1% across the board, and it's reasonable to say that the nervous investors would slowly be taking some heart in all of this. BNB is a very, very good punt for big gains long term.
BNB Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
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