A while back I suggested buying BAC when
the stock's price was $6.24. After that
time, it went as low as $2.53; but this
week has been exceptional. Today BAC
closed at $9.55. Trading after the bell
has moved it down some. Had I had the
money to, and bought it at $6.24, there's
a good chance I would have sold it late
this afternoon. BAC went up over 35%
today on more than double usual volume.
That is an indication it is going much
higher or will soon be pulling back,
but the gain was there late this after-
noon. There are always other places
to go, and even though the Dow rose
above 8000, this remains a bear market.
Of course, there is always the option
of selling enough to get one's money
back so that what is still being held
is essentially risk-free.
mr00026
Thursday, April 9, 2009
huge day for BAC
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2009-04-13 Monday: BAC went above $11.00 today.
ReplyDeleteThis says that not selling would have been the wisest choice. However, I haven't said anything about using a stop loss order. At this point it might be worth considering for this hypothetical buy. See Investopedia Dictionary.
:
ReplyDeleteEarly Tuesday morning (I think) BAC
was at $7.00 but for most of this week
it has been trading between $8 and $9.
Yesterday it closed at $9.10; however,
opinions about this bank swirl jaggedly.