Bac
- Thread starter apitrader
- Start date
BAC formed a morning star yesterday (bullish and reversal group of 3 candles).
$7.81 is next resistance on daily chart.
The last 2 candles on weekly charts are dojis. reversal.
$7.81 is next resistance on daily chart.
The last 2 candles on weekly charts are dojis. reversal.
By a show of hands, how many of you had your stops placed in anticipation of this?
Its over 10 and its trading with strength here. If you traded this thing in tranches you would have made 3000% on your trades. If you held it and then made 300% thats great. if you sat on the sidelines talking crap then you missed it. Congrats to all the traders that came along for the ride.
If it goes past 12 its an investment. When they spin off Merrill Lynch then I expect to see a good price above 25 in the next 24 months.
BAC is now a winner. WOW a bit sooner than I expected. Im looking for a new sector I think the banks are getting stable here. The volatility at these levels make for alot of Pepto Bismo from these levels for 10-30% moves.
Any sector suggestions would be appreciated. This now becomes buy and hold with a Stop Loss.
If it goes past 12 its an investment. When they spin off Merrill Lynch then I expect to see a good price above 25 in the next 24 months.
BAC is now a winner. WOW a bit sooner than I expected. Im looking for a new sector I think the banks are getting stable here. The volatility at these levels make for alot of Pepto Bismo from these levels for 10-30% moves.
Any sector suggestions would be appreciated. This now becomes buy and hold with a Stop Loss.
They need to pay the TARP back and raise the dividend to make it an investment. Just capital appreciation is not enough for smart long term investors that are willing to take a risk on this bank.
The new market stability combined with the reduction in writedowns will make this a strong play. My Countrywide mortgage is serviced by BAC and when they refinance the client base and 1099C the defaulters then their earnings should go through the roof. Not to mention evertime the MER launches a new Fund or security they are getting major fees they never had before.
The MER investment will become their shining jewel. It should triple their book value once the toxic assets are gone. MER and CFC are crown jewels and BAC may be a winner of the ages. Any mutual fund who is worth anything will place this in their portfolio. 12-18 months I see a target of 20-30.
Remember, there is no consolation prize for being early.
Sure, that´s why Merrill Executives are leaving in masses. Which client base do you think do they take with them ? Mama and papa Joe ?