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Changed my mind on Jan calls. LOL. I wish it dips under 5, and I'll bloody well buy the actual stock in 1000s. Possibly a bum load. Anyone thinks 3$ is possible?
Im keeping my eye at $5. Not sure if it will get down to $3, I think we would see a whole market selloff ala Mar 09 to see $3.
Changed my mind on Jan calls. LOL. I wish it dips under 5, and I'll bloody well buy the actual stock in 1000s. Possibly a bum load. Anyone thinks 3$ is possible?
The problem with cheering against BAC is that if it does go to 7 or 6 or 5, it means we have a serious overall market, and all boats will sink with BAC.
If you watch Options Actions, they suggested to buy 1 January $5 put and sell 2 of the January $2.50 puts. The cost is only 10 cents per contract. If you want to risk $100 then you'll have 10 of them. If the stock goes to $2.55 your $100 becomes $2400.00.
Book value is over $12.50. I hope and pray the bears on BAC are wrong.
Or the whole market is headed way down.
They are wrong, long term. Short term, with this banks problems AND a volatile market, who knows. But thinking long term, BAC and the other big banks like WFC and JPM are dirt cheap right nnow, and getting cheaper.
BAC could and should fail, but we all know that they will be yet another "too big to fail" in the eyes of Gobermint.
They are losing alot of customers to their **** poor customer service, fee's on top of fee's, and poor reputation in general. As a former BAC business account holder and home loan holder, it was a downright pleasure to re-fi out of there and close my acct.
I'd be looking at up and coming smaller banks that aren't tied into so much housing debt from the 2008 flop.
I'd be looking at up and coming smaller banks that aren't tied into so much housing debt from the 2008 flop
I agree with that too. I am long on both BAC and JPM as long term holdings, but am also holding positions in two nice little Texas banks that are thriving, IBOC and SBSI.
Last edited by treasurekidd; 08-05-2011 at 05:59 PM..
"Do not buy a stock for a dividend.
You want stock price appreciation"
+++++++++++++++++++++++++++
Must disagree, both are important, when BOA was paying .64 a share quarterly, that increased my income by $16,000 a year, and this went on for several years.
As for the future of BOA, this turnaround will take years, and we stock holders need to fasten our seat belts, this will be one bumpy ride.
I sold my original shares of BOA in 2004, had the stock for over 20 years, and made a bundle, sold 3,800 shares.
When the stock tanked, I bought 1,000 shares at less than $6.00 a share, plan to ride the rollercoaster, as I believe the stock will turn around.
The problem with cheering against BAC is that if it does go to 7 or 6 or 5, it means we have a serious overall market, and all boats will sink with BAC.
If you watch Options Actions, they suggested to buy 1 January $5 put and sell 2 of the January $2.50 puts. The cost is only 10 cents per contract. If you want to risk $100 then you'll have 10 of them. If the stock goes to $2.55 your $100 becomes $2400.00.
Book value is over $12.50. I hope and pray the bears on BAC are wrong.
Or the whole market is headed way down.
I think you are correct. BAC, if it were to continue to freefall, would be a total market collapse.
I wish you all the best of luck with BAC but they are junk. If you want to get involved with the banks I would suggest GS. BAC is $8.17 because they are worth $8.17. Cut your losses and put your money somewhere else where you can make money. If BAC was trading on fundementals they might be $2 if lucky. As a rule I very rarely trade stocks under $50 dollars.
I wish you all the best of luck with BAC but they are junk. If you want to get involved with the banks I would suggest GS. BAC is $8.17 because they are worth $8.17. Cut your losses and put your money somewhere else where you can make money. If BAC was trading on fundementals they might be $2 if lucky. As a rule I very rarely trade stocks under $50 dollars.
BAC could and should fail, but we all know that they will be yet another "too big to fail" in the eyes of Gobermint.
Equity holders can still get wiped out with "too big to fail" institutions. While it's more or less a guarantee the company survives, it doesn't mean equity holders won't get largely wiped out.
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