Thanks Obit. That was helpful. I for one am in it long, or at least for the next big run. At that point, when the PPS plateaus, I will like sell some or all of my shares, because there will be the inevitable profit-taking. Then, when the stock price trenches and settles into a narrow trading pattern again, I will buy back in, and so forth and so on. So for purposes of this discussion, I am long and plan to stay that way ... no matter how painful the lack of activity is in the short term.
I believe the next catalyst as Fence rightly pointed out a few posts ago will be when Jack Reed of Delaware delivers his bill that promises to retain FnF with minor reforms. The NAACP will likely support it, Nader will undoubtedly support it, as will Berkowitz and other hedge fund managers, and may even get Obama's endorsement as well, and it will get the royal treatment in committee. That in and of itself should galvanize buyers. Bernanke's testimony could set one off as well. Another possible run could happen right around Labor Day, when people are coming back from vacation and Congress returns from recess. The first hearing on the shareholder lawsuit could also start a small run. Too difficult to predict at this point.
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