I recently bought 500 shrs of BoA $24.00 I have not taken any profits from the run-up the last two days. I admit I don't know much about trading. However, should I put in a sell order at say $27.00 ahead of the market opening and also a buy order at 28.00 in case the earnings are good? My account is with Schwab.
Thanks for any advice.
33 is first stop,if the dividend is kept.Anyone who hasn't figured that out yet,should not be trading this company.You can't pay that kind of dividend without the stock price going up with it,unless the company itself is in big trouble.
IMHO this is a bear market rally. This little rally is in response to the fannie/freddie bailouts and the talk of tightening the short trading rules. Again the savings, retirement fund, pension holders are being taxed due to the dilution of the $FRN tax of inflation to pay the tab on the bailout.
If you are in a trading strategy, take your profits. Pick another trade point next week.
If you are basically in an investing mode, buy more when the stock price drops back down;accumulate. Remember no more than 5% in any one stock, buy low sell high, etc.
If you're a long term investor, and this is a small percentage of your portfolio, then keep your shares.
In a few years you will be glad you did.
If you must sell, you've got to find a better investment.
The odds of selling BAC before it goes down, and buying another before it goes up are 25%. Long-term investors have better odds.
Most of my stocks are in my retirement account. I'm in it for the long term. I'm still under water on BAC. I look at what will be there 5-10 years up the road when i may have to start drawing on it. It really doesn't pay to look at things every day, unless of course you want to expand your position on declines.
I would hold on and not sell at all. Granted it has had a run up in price. But the fact is it had had a short hard run down so the run up in realitly is not that much to me. I believe this thing will go to $30.00 without a probem in the short time. Guess we will see who is right, and who has balls. In the final assement BAC is a great stock, great dividend and will go back to $45.00-$50.00 in the long term. Hold on is my advice, and good luck.JK
smartest advice there for the novice. bac was bound to run hard up off such massively oversold conditions. this is nothing to be surprised about. who knows when the next explosive leg up will be - probably when they announce decnt earnings and a slight dividend increase. Lewis is a lot smarter than the shorts and hedge funds...
For you shorts - make sure you have a buy stop in at $30 you are probably going to need it and it will probably get ugly for you real soon.
this should be/is a long term investment. i would recommend putting a stop loss order on HALF (250) of your shares at 26 (if earnings are bad you wont see 27, itll open lower). that way, you can at least lock in SOME profits, but not pull all you have out. unless your just trying to make a quick buck, in which i dont give advice on...