Im looking for one good buy and hold stock. BAC is now trading at 2004-2005 levels and is way off its high. 6% dividend. WB is also way off its highs sporting a 5% dividend. Should I pull trigger?
I like BAC. I own it and am down in it, but I keep buying more to average down. I am holding it in a portfolio with a focus of 2-3 years down the road this shaping up to be a very good investment. Personally, I think you can buy it lower. It all depends on your time horizon. If you are going long term, buy some here, wait for a while, hope it maybe goes down in order to buy some more. Short term I think this all could be a set up for the shorts to come in again, but who knows, this time could be different.
First you call everyone an idiot for buying when we obviously were in the next wave down, and now you are asking advice on whether to buy BAC? You really are one confused soul.
Holygrail, You need to grow up and mature a little. Sometimes people ask questions and pose counter-views in order to draw out responses and observe how others are thinking. In this case, I really feel that both BAC and WB are not buys right now, but maybe in about 6 months when they shed a little more price. Remember, that the first recorded internet flame artist was a psychologist in NYC who wrote inflammatory posts in order to observe how a random crowd of people would behave. I dont take this website too seriously as you do. You should get out in the sun some more or actually make a few trades rather then spending your day here. Better yet, just get a job versus the Montreal public library.
If you have come to a website looking for advice, then I seriously think you need to rethink and retool. Since when has this website not contained some form of spam or other useless banter. Name one time in the history of elitetrader where it did not contain some sort of banter? The difference between me and you is that I dont live on websites like this and I take the information presented with one huge grain of salt.
Someone should start an official JackStone vs. HFT2 thread. That would be hilarious to watch. Maybe get Cold in there as well just to stir the pot more.
hehehe. Enough of the tangents. lets get back to the point. I got the idea about BAC and WB from the XLF top ten holdings list. Most of these stocks are trading at a discount from last year's highs and they will eventually be a buy assuming they are not a buy today. I'd sure like to get in on a discounted stock that carries a 4%+ dividend and hold it for 5 years. You know companies like Wells Fargo and Bank of America will not simply go out of business or at least I'd like to think&hope that they wont...