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Lynch to be rescinded.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

10 comments:

  1. 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.

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

    52-week high: $45.08

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  3. 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.

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  4. Market down over 200.

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

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  5. for 2009-01-30:

    Market down about 150.

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

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  6. 5.47O / 4.62L / 5.54H / 4.70C

    djia 7956.66

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  7. 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. Strong up day for bank stocks.

    6.39O / 5.36L / 6.49H / 6.13C

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  10. 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.

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