IMO it's a number of factors, the tensions in the Middle East for starters. The Euro not out of the woods yet. The Middle East mess. General Profit taking, quarterly profit taking, shorting etc. Sentiment is still fearful with follow sheep mentality.
China stating reduced growth targets, although their idea of reduced growth is an actual percentage of growth that most Countries still envy.
It's of no consolation, however I still consider that WPL will be above $40 and better this year.
As usual the pendulum swings to extremes and after today we will be well back into oversold territory. Unless O/S troubles escalate then I expect it won't be there as long as it was last time.
WPL Price at posting:
$35.04 Sentiment: Buy Disclosure: Held
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