Who gives a #$%$ about your logic as to why you bought or sold. AGAIN, everyone has their own strategy. The end game is to make $ with 40-50% returns. Nobody is always right and if you were you are a clown for being on yahoo message boards. And yes, TEX at 14 was a gift that we may not see againf or a long time...then again I think 20-24 would be a gift!
i bought BAC at $5.25 and like sold a month later at like $9.5 in January 2012 like a month later. I valued it between 10-12 and $9.5 was sufficient that I could put the money to work in other better stocks. Also I never liked BAC the company I just felt the stock was so compelling when The Jim Cramer hopeatrons at $5 were saying sell.
This quarter normalized they will make about $2 B run rate $8 billion. They are making poor returns on capital. Like its not a sell just not a good bank own. Its not a short but its not a buy.
I've been recommding PNC. PNC makes no sense normalized they will make around $7.00 a share yet the stock trades at 61. It earns great returns on capital. It should trade at at least $100. I hope they buyback stock and raise the dividend.
Management went for another acquisition last year which seems to be fine. However the stock is so cheap I would love to see a big buyback.
PNC is my nest biggest position after TEX but unlike TEX, I don't make any money on it (so far) lol. However I am still pretty confident in it. I don't understand the price movement. Its my favourite stock at the moment and Ill probably be buying more with new investor funds unless something more compelling hits the bill.
I said last month, I sold some TEX at $25.7 and bought PNC at 55.9. So far the performance is 14% for TEX and 10% for PNC. At that time I thought the risk reward was better for PNC and I had too much of my portfolio in TEX. Anyways even at $61 today it is by far the best bank in terms of value.