Buy the dip
$Hope Bancorp (HOPE.US)$ Drops 16% post market - this is often referred to as "strike while the iron is hot" kind of opportunity ![]()
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SpyderCall : There was not much volume at all on that drop. Only 14 shares traded hands. It is a bogus move. Tomorrow the price will come back to normal.
dk mooOP : So you think "normal" is 12 [Shocked]? February was the last time $Hope Bancorp (HOPE.US)$ was that price. Even $Bank of America (BAC.US)$ and all the other big banks are not back to pre SVB numbers yet. We are all waiting on the Powell.
SpyderCall dk mooOP: I think there is more upside in a lot of the smaller regional banks. Larger banks as well but especially the smaller banks. Once lending costs come down then even more so. so I think the price will go above 12 eventually for sure.
I was just refering to the fact that that day of the selloff it was just another regular red day. I didnt see anything crazy to warrant any caution just yet.
SpyderCall dk mooOP: and I should say for the record that I think the regional banking sector is overdue for a little selling. This rally is overheated in just about every sector to be honest. I think we will see a good dip to buy coming into this january or february. Like I think the price will dip below 12 for a bit. This is purely based on the technicals that I have mapped out for myself so I could be wrong as I am often. the rally is likely to continue but sometimes things need to come down just a little before they can climb to new highs.