Well, it's the final month of the 3rd quarter. Before we know it, earnings season will be upon us again. I'm maintaining my earlier estimate of $1.18 per share after deducting one time events. I'm also maintaining my year end share price estimate of $55.
I'm at $1.21/net of one time charges, with a high before year-end of $56, and a closing price of $55, (because fears of a slowdown occurring in the 4th Qtr 2006/First Half 2007 will weigh upon BAC stock performance.
Though the 3rd Quarter will be solid, I think we'll see BAC reported net earnings drop in the 4th quarter, because BAC will again over-reserve, to sandbag in preparation for modest 2007 earnings performance. However, because 4th Qtr 2006 performance, when compared to 4th Qtr 2005, will be easy on the nerves, (since 4th Quarter 2005 incorporated one of those "kitchen sink" writedowns and the abberation caused by the rush to beat the change in Bankruptcy laws), BAC shares will only slide about $1 - $1.50, before leading the banking/financial services sector out of the early 2007 doldrums - - and that sector will then lead the REST of the economy upward and onward.
You keep crunching those numbers. I'm just going to piggyback for a while. We have a war and spendthrift gov't greasing the wheels, so it should have a blowout year. Wars are a sure bet, despite what the liberals say.
I'm mostly in oil stocks, but I added BAC today. I'll sell it after the New Year.