At this moment, BAC is trading at $7.23. I, for one, believe that we are going up from here. Is it a risk, of course it is. However, I would much rather be long than short at this point in time. The government just came up with a bank plan (yesterday) with details, and the stock market likes it. Soon we may have changes in the uptick rule and M2M. There will likely be AIG bonus fallout so as to let banks pay their people without government intervention. The government will soon be finished with their bank asset tests and I believe BAC will pass. The Merrill Lynch purchase was what the government wanted BAC to do. Also, earnings will be announced next month. These, and other reasons, are why I have invested (and speculated) in BAC. I have put my money where my mouth is. I have made a great deal of money on BAC stock and options (starting in the low $3 range) and will continue to own both. There are too many reasons to be long BAC and too few to be short!
Why is it that I've read so many posts, some bordering on the ridiculous, predicting the future price, (mostly wrong) yet I never read a post admitting they made a mistake?