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Bank of America Corporation Message Board

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  • uitrader91 uitrader91 Jul 9, 2012 3:38 PM Flag

    I have changed my mind, Ill start buying shares at 7.535

    What do you expect out of earnings of the first financials? Earnings from Bank of America, and target for the stock price post-earnings?

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    • Because it failed to stay above $8, it's likely to retest the recent low of $6.60-$6.80 before bouncing or breaking down below $6. Earnings season can change things, but recent earnings have been nothing but catalyst for the stock to go down, no matter if it beats or misses. If it misses, the stock may crash, if it beats, analysts will say that this would be the last good earnings for a long while due to reduced global demand and argue that there is no more catalyst for the market to go up until Europe agrees on euro bonds (not likely soon) or Q3 earnings, but that would leave another 3 months of possible declines. $4-$5 is not out of the question if you think about things this way. Not trying to be negative, but it is what it is. Hope to see the stock rebound so I can make another run.

      Sentiment: Sell

 
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