Where do YOU see Bank of America go from here?

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prjctdork

At these levels do you think its a good investment, where do you see the stock going short term to med term and few reasons as to why you think that will happen.
The stock to me looks attractive at these levels and I have some money put aside for the stock. I'm a novice investor and would like to hear your opinions and learn from them.
 
would you want to be in the business of mortgage lending to businesses and individuals now? Especially with house prices declining, with several mortgages where people had little to no down payment?

It's very risky, I'd stay away until it looks too good to resist- something like $8- and even then you may be in for a long ride.
 
Quote from prjctdork:

At these levels do you think its a good investment, where do you see the stock going short term to med term and few reasons as to why you think that will happen.
The stock to me looks attractive at these levels and I have some money put aside for the stock. I'm a novice investor and would like to hear your opinions and learn from them.
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Its going to ZERO. Double-Top on weekly initiated (see weekly chart below), ready to fire. Also under 200-day ma, Macds on D/W < 0-line



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Quote from prjctdork:

At these levels do you think its a good investment, where do you see the stock going short term to med term and few reasons as to why you think that will happen.
The stock to me looks attractive at these levels and I have some money put aside for the stock. I'm a novice investor and would like to hear your opinions and learn from them.
More...
BAC will go from bailout to bailout.
Soon or late its stock will follow.
 
k I learned something here thanks guys, I like that i was able to replicate the double-top formation on my charts, made my day :D more importantly I now know what it means.
 
Quote from prjctdork:

k I learned something here thanks guys, I like that i was able to replicate the double-top formation on my charts, made my day :D more importantly I now know what it means.
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Good for you. :)

But here's something else to thnk about ....

so far everyone in this thread including me is bearish Bank of America. We need a bigger sampling, but such unanimous behaviour is not good. When eveyone at ET thinks one way, WATCH OUT. :D :D :D

So, here is some other thought-ing about the once lofty bank ...

if we get a nice big drop in price, which we should, but then momentum wanes and a major downtrendline is taken out and the Feb 2009 low holds firm, BUY, BUY, BUY and hold for 1000 years, even longer than Buffett or his grandchildren.

My sole reason for merely suspecting this is shown in next post
 
Bank of America, monthly chart.

(note: analysis is not to be found in any book; purely my own stuff, but I've seen it work numerous times elsewhere :) )

a 161.8% perfect hit is not something to be taken lightly. Price then returning to 100% and reversing on yet another perfect hit, are signs one too many for me to ignore (usually at my own peril)

What's more, the a,b,c,d,e formation shown is once again not to be found in any TA book, but it is to me, most definitely the same consolidation wave - therefore when such a wave's low is used for the fibonacci grid and you get a perfect hit, that's enough for me to think that the DROP IN BAC HAS SEEN ITS LOW.

No guarantees, but a huge sign of caution to not let the crowd CROWD you.

(None of this means you should buy now, I'd say buying time would be around $3.50 to $6.00)

I will most certainly update this when we get there, because BofA has been my bank of choice for decades.




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Quote from ttowntrader:

BAC will be bankrupt or govt receivership as soon as the administration changes.
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Not sure that your thinking is correct .BAC is still making mortgages, but their down payment requirements increased drastically, plus BAC receives free cash to buy down mortgage rates is going to help their short term (few years) performance.

My youngest daughter participated in a NACA loan by BAC. She got a 20yr fixed @ 2.15% and the seller paid $10k to get her that rate as part of price through BAC.
 
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