SINCE BAC CUT DIVIDEND FROM .32 TO .O1 FOR THE NEXT THREE YEARS, WHAT DO THINK THE STOCK WILL DO IN THE NEXT THREE TO FOUR MONTHS. IT CLOSED AT $7.18 ON 1/16/09 AND HAD TREMENDOUS VOLUME AND VOLATILITY, MOSTLY DOWN. THIS COULD BE A GREAT DAY TRADE STOCK IF THE MARKET GOES UP ON THE DAY OF INAUGAURATION OR THE STOCK TRIES TO ESTABLISH A NEW LEVEL. I AM AFRAID IT WILL LEVEL OUT AT $4.OO AS CITIBANK DID. WHAT ARE YOUR THOUGHTS?
I have been flirting with selling some of those Jan 2011 $2.50 strike puts that are at a huge premium right now.
1) Press the "Caps Lock" key on your keyboard. 2) To fall below $10/share is usually a "death sentence" for a stock. The same thing with $5/share too. 3) BAC should trade with "large" volume and volatility making it a good daytrading vehicle until it ever settles down.
rough day today America's 2 largest banks down each down 14% today. Bank index hit lowest level EVER Dow Jones hit lowest level since 2002 Inflation up huge amount in January Crude oil up 12%