...been doing my DD for a few days--has anyone or would anyone buy at these levels of BAC?? I am thinking about jumping in but would like to hear opinions from some longs--thanks
Some have been around a long time and have profits and may set a price to get out. If dividend raised could go higher. Difficult are legal questions States and Federal trying to raise money with law suits
I sold another 2,000 shares today at $15.84. I think it will consolidate in the low $15 before moving above $16 after the end of the year. I only have another 2,000 shares left of BAC that I'm holding in case it temporarily goes above $16 during the next few days, and in that case I will sell the last 2,000 shares I hold. Will start to buy below $15.25.
I've been long BAC since 2007 but finally beginning to lighten up a bit at these levels. Not a whopping lot of upside for a while. It is a penny a share dividend and that won't be going up further for a few years, more until the FED is totally satisfied that BAC has sustainable earnings and the liabilities are cleared. We won't see single digits again without a market panic so I could justify buying the dips, sell again in the teens. GLTA
Stevens is a major pumper but he is right. If you are looking at 2+ years out this is a no brainer. Even 1 year out. How old are you btw? If your young, employed and not playing with needed money then jump in...time is on your side and you can buy lower if it goes lower. I kept buying lower and bought a couple 1000 shares when it was in the $5-$7 range. Now I laugh and I laugh. I still have 30 years till retirement if I can live that long.