Showing posts with label BAC. Show all posts
Showing posts with label BAC. Show all posts

Thursday, April 9, 2009

huge day for BAC




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

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Lynch to be rescinded.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