Sunday, January 25, 2009

bubbling BAC 

       
                                           
                                        
Recent events at Bank of America have drawn    
my interest.  Shareholders are rebelling and   
may even force the acquisition of Merrill   
Lynch to be rescinded.  BAC had descended   
to a yearly low of $5.05.  It has been on  
an upward track lately.  With comparatively   
heavy volume on Friday/ the low was $5.30,  
the high $6.28, and the closing price $6.24. 
                                            
I will let you search out the stories.      
                                          
I am not in a position to, and there is no   
reason for you to take my advice; still, if
I were in a position to and had $200.00 to   
spare/ and a brokerage such as ING, I would   
buy a few shares.                          
                                           
Anyway, this is the start of my coverage of   
BAC.  We will see what goes down.          
                                              
                                             
                                                
                                               
mr00008
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10 comments:

  1. brian (baj) salchertJanuary 26, 2009 at 5:04 PM

    Heavy volume but

    BAC opened at $6.46, had a high of $6.98,
    and closed at its low: $6.00.

    There are several stories about M L's Thain.

    A story about BAC's Lewis suggests
    tha shareholder lawsuits may mean
    trouble for him.

    ReplyDelete
  2. brian (baj) salchertJanuary 27, 2009 at 7:13 PM

    BAC today:
    $6.30O / $6.20L / $6.61H / $6.50C

    52-week high: $45.08

    ReplyDelete
  3. brian (baj) salchertJanuary 28, 2009 at 4:24 PM

    BAC gapped $1.14, opening at $$7.64. It had a $7.10 low, a $7.81 high, and closed at $7.39 on relatively heavy volume: 357.01 M shares.

    ReplyDelete
  4. brian (baj) salchertJanuary 29, 2009 at 4:11 PM

    Market down over 200.

    BAC: 6.96O / 6.71L / 7.20H / 6.78C

    ReplyDelete
  5. brian (baj) salchertJanuary 31, 2009 at 2:39 PM

    for 2009-01-30:

    Market down about 150.

    BAC: 6.88O / 6.35L / 6.92H / 6.58C

    ReplyDelete
  6. brian (baj) salchertFebruary 4, 2009 at 7:03 PM

    5.47O / 4.62L / 5.54H / 4.70C

    djia 7956.66

    ReplyDelete
  7. brian (baj) salchertFebruary 5, 2009 at 7:37 PM

    4.56O / 3.77(new low) / 4.95H / 4.84C
    and after hours at one moment: 5.11

    There are stories which help explain this.
    Search for them.

    ReplyDelete
  8. brian (baj) salchertFebruary 6, 2009 at 4:08 PM

    Strong up day for bank stocks.

    6.39O / 5.36L / 6.49H / 6.13C

    ReplyDelete
  9. brian (baj) salchertFebruary 8, 2009 at 2:05 PM

    This comment has been removed by the author.

    ReplyDelete
  10. brian (baj) salchertFebruary 8, 2009 at 2:17 PM

    On Thursday 2009-02-05 BAC, continuing its precipitous decline to $3.77, abruptly stopped. So that became the left antenna of a V because it then headed just as precipitously up. This was during the morning trading. According to one story, options traders had become convinced BofA was going to be nationalized. That idea, however, was squelched, which is why the strange bear-bottom V. On 2009-02-06 BAC closed at $6.13, but on 2009-01-28 BAC had a high of $7.81. If this bank could get its internals detoxed, it has upside to at least $40.00 by my readings. If.

    ReplyDelete

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