Where do YOU see Bank of America go from here?

Their top line is growing briskly quater over quarter for a year now if you discount one time charges on their second quarter earnings. This company is set to be the premier bank in the world. They just need to perform. Trading 66% below their book value says there is a tremendous risks associated with their bad bank side. 20-30% of that 66% could be attributed to market conditions and not the fundamental in the business according to my analysis on similar banks.

Having said that I bought a decent sized block of their tarp warrants on friday.
 
Quote from deadbroke:

Balance the called rally against the backdrop of fundamental info about banks in general .....


25 bank failures in 2008

140 in 2009

157 in 2010

43 thus far in 2011


problem banks on FDIC list in 4th Q of 2010 hit 884

-------------------------------


yeah, bearish, bearish, bearish

deadbroke urges caution in any event and watch the chart ONLY. There is no other TRUTH anywhere, never was, never will be. PRICE is the only truth there is. When he says go LONG, just go with it.
More...



>>>>> When he says go LONG, just go with it. <<<<<<

Short is closed on the trendline break shown. Now sidelines. If/when 23.6% is taken out, go LONG. If low is taken out resume SHORT.

Additional reason that caused the dead one to reign in the Short is the Ending diagonal Triangle shown in bold - that signifies either end of move or a circular motion with the right hand. :)



Uploaded with ImageShack.us
 
You must log in or register to reply here.
Back
Top