Long BAC 8.09 (small position) Swing trade 2 to 3 weeks max Stop 7.37 Targ 8.91+ (10%, not greedy) Edit: looks like my Stop may be hit today :eek:
you feeling the heat on your position? thinking of going long here myself, even though the dividend got cut to one cent....folks how much further downside we got here? what's a good P/E and PGE reference point here?
Pure speculation. I frequently get the urge to catch the knife and I have learned to scratch the itch (infrequently) with a few small positions and money/tick management. It works for my psych management, but certainly don't recommend it. No double downs, revenge etc... stop is stop and I move on. I lose 4 out of 5 times, but for me that actually helps me not revenge trade ES, CL and other equities I trade based mainly on PA. I sit out mostly on Options Fri. hence the itch.
BAC is doubling down on their vision. Ken Lewis said after he bought MER that the combined company was going to be a thing of beauty
So, you wanna go long BAC? Well, before you do, please do the following: 1)Open a checking account at BAC. 2)See how the staff treats you while there. 3)Overdraft the account by $3.60 4)Pay the $400 over draft fee. :eek: 5)Realize that if this happened to you, how many other people it has/will happen to. 6)Go to an ATM. Pay $3-4.5 ATM fee. 7)Talk to other customers about, and realize how much they HATE Bank of Satan -- I Mean -- Bank of America... 8)Find out where people are running to and invest in THOSE companies. or Look at the chart and realize that this company is a deadman walking: http://stockcharts.com/h-sc/ui?s=BAC&p=D&yr=0&mn=6&dy=0&id=p78941511999 Now, this post may be tongue-in-cheek, but seriously: IS THERE ANYONE OUT THERE THAT LIKES THIS BANK? I have yet to find ONE person, and I would love to be proven wrong.