Completely absurd that it hit my $11.85 stop today as I thought it would never go that low this close to earnings.
I re-bought at $12.07 but I'm pissed...I still don't understand what the hell happened today...
I have had that happen to me too often and it is frustrating. BAC is trading in its channel though. If you look a the default chart at stockcharts.com add a 10day moving average you will be able to see how it is bouncing back and forth between the 50 and 200 day moving average and flowing nicely above and below the 10DMA nicely. I am banking on it to bounce back up to test the 50 day again before next wednesdays financials. If it breaks through stong on the 50 day it could go up a couple more points. If you look at my post from a few days ago you will see that I noted that the chart showed it would do what it has done. My suggestion is to watch it closely tomorrow and if it goes up it may do so for 2 to 3 sessions and then work its way back until Wednesday. I am a bit conerned about how close it has gotten to the 200Day Moving Average because if it goes through that, it could drop back down to its last resistance point -which is the low 11s.
NOTE: You must use your own judgement when investing.. This is just my read on it...and I am no expert! Good luck..
Hey, back from the holiday. I put a GTC buy in at 11.97 and didn't think it would go below 11.92-ish so I would have thought your stop loss would have been "safe" too.
Glad you're back in. Now if this can get above 12.52-ish tomorrow then it should be back to $13+ this week.
I knew I didn't like the action on Friday and that's why I bailed w/profits at 12.74. I just got a 6% discount on a new position!
I got stopped out too at 12.35 just after the open. I figured it would drop much more than that and I would get back in lower, but instead it bounced way up after that. So, I bought back in at 12.57. Then of course it went back down again in a big way. This thing really gave me fits today and I lost a bundle. Don't know why it did that headfake this morning, but it certainly fooled me.
If anybody saw my order status they would think I'm fking nuts with all the canceled stop orders.
I've been burned badly before by BAC so I'm leary about not putting stops in so I keep moving them according to where it's trading.
I thought I was safe Thursday with a stop at 11.85 when we closed at 12.65. I guess I was wrong...
This is the most frustrating stock I've traded in the past 10 years. Aside from manipulation, I still don't know what happened today...
This isn't a good stock to use stop losses due to the wild swings. My calls got exercised last month never thought it would hit 12 again so I'm back in. Great stock for writing covered calls. Can't believe the premiums you can get.
Its visited the 12 mark at least 3 times over the past month so its no surprise it traded down here again!
I guess your stop was a tad too close to its bottom range.
no biggy, should be back up from here!