You dumbass shorts need to move on. This stock has been sold off significantly, not that I care, b/c I get a 10% div and even if cut in half it is 5% and that is pretty damn good. Most of you dips#its don't even short the stock you just talk crap. Move along if you don't own the stock. This thing is going up and it could easily double by end of year, It has lost 1/2 its value in a year, why couldn't it gain it back; especially now that it has greater market share in mortgages.
We will see a rally upto $30 within 30 days. If BAC maintains the dividend, shorts will have to pay for it. Smart shorts will start bailing out soon. A stable price above $45 may be 2 years away until the mortgage crisis is over.
It's about time I found someone on these financial boards who thinks exactly the same as I do. Stock price is purely determined by supply and demand and has very little to do with earning, profits, book value or all the other financial buzz words thrown around. If noone wants to own a stock then it doesn't matter what the company is doing.
Only two things make stocks move and have ever made stocks move, namely, momentum and random trading. Also regardless of what all the analysts and experts say there's only one reason to buy a stock: "you think someone is going to pay more for it later on" and there are only two reasons to sell a stock: "you think someone is going to pay less for it later on" or "you need the money"!
The problem is that if this was ever made public the entire stock market would be exposed to be what it really is: one gigantic gambling casino.