What do you think they mean by "capital raise?"
$10 by the end of the week schmuck
Did you own LEH as well
Very very unlikely or I can call this impossible. Cause if this BAC goes back to below $7, I am going to buy a truckload.BAC is severely punished for all the rumors on legal suits, mortgage problems whereas other banks seem to be spared of these. Some profiteers are targeting this stock.But reality is:(a) Legal suits take years to settle(b) Mortgage troubles are slowly clearing up(c) More good news coming up for BACAs such, I believe BAC has reached its bottom at $6.31 and it wont go below $7 again, unless you want a major squeeze up to happen.
BAC is bleeding, due to its massive toxic mortgage exposure, with no end in sight. When house prices go down another 25%, what do you think will happen to BAC?
I'll say this daa, there's no real support under 6.31 and with everything going on I just can't see this major support level holding.
actually doug kass, stated on cnbc, that he's purchased BAC, and he's recommending it. i think he's on the ball.IMHOp.s. i'm not a big fan of cnbc, but this guy doug kass is on the ball.imho.
Glad I loaded up under 7!!!Great long term play here....