Bac is a screaming buy, it hard to muster up the confidence to buy anythign is this market, even MON , XOM or BO for that matter, but we are at bottom or near a bottom. BAC is a buy in my HUMBLE opinion for many reasons. Buyers will be rewarded here. patience is needed, might not see a big move to 20, but 5 is within range sooner then later. Thier will be a positive ebitda number reported in April. They will pass the stress test. The Gov is going to take warrants, especially after the MER situation. Downside is maybe a .75-1.00 for here. shorts have covered for the must part, might be some retail traders left, but thats it. Buy 5000 shares, put a stop loss at 2.00 and come back in 5 years. stop reading this message boards which is controlled buy fear and greed. MON, XOM< CVX< are all great companies with huge earning power and growth as is BAC. Now, get some rest, thank god for your health and family. Keep your spirits up , be of service to those suffering , think about going to church or donating some time to a charity. focus on exercise or reading a new book. focus at work. your going to be OK and BAC is going to get you MONEY BACK, count on it. at 3.50 you will be telling you grand kids about your big balls that you stepped up to the plate. if you own , average down if you can. if you not comfortable doing that. that wait it out. good luck and god bless. if anyone needs a pep talk or friend. email me at firstname.lastname@example.org.... be well and focus on the good things in your life. jesus loves you and will never let you go without a roof or food on your table. If your not a christian does not matter, your a child of god.
*Will have in excess of $100 billion in Rev
*Over 30 billion in profit 2009
*Made 30 billion in mortgages in Jan
*Have reserves over 23 billion
*Will increase reserves by 6-8 billion by end of year
*Have already written off Countrywide debt
*Will repay TARP soon
*Do not need anymore TARP money
*Will pass any stress test
*over 860 billion in stable deposits
* No comparison to Citi
*Have reserves to withstand recession to 2010
one more thing: who cares if they cut the DIV 1 minute ago did not hurt JPM will not hurt us. its shows corporate responsibility. a penny does not chaange anyone life anyway. be real and as far as the S&P cut.... please. know one , i mean know one cares about them. todays sell off was all retail longs getting spooked. period. close on fri at 4 plus mark my words.
Thank you for this post. Great synopsis of why to INVEST is this great company. At these levels I also think it is a screaming BUY and HOLD. Stop watching the market and come back in two years is the best advise you can get.
If it does'nt kill you it makes you stronger.
This is not Citi.
All the best to you and good health.