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Bank of America Corporation Message Board

  • kittynbun kittynbun Feb 28, 2009 8:47 AM Flag

    Need advice...want out How do I sell pre-market? Pls help.

    I own 25,000 shares of BAC and have held in faith through all the turmoil, taking a huge loss that is damaging my family's future. However, at this point I just want out. The bad deal with Citigroup yesterday and then reading about BAC having a loss on its books means the end for me. I rather have a few pennies than nothing at all.

    I have never sold pre-market but it is available through Ameritrade. Can someone explain how it works? Should I put all 25,000 shares up at once or use smaller blocks? They tell me I have to put a limit price. What should I enter into the system to ensure that they sell. I'll put in an automatic sell order now so that it completes when markets open. Im just not sure what to price it at. I dont want to wake up and find BAC lower and still own shares but likewise each penny equals $250 which will be helpful.

    Please dont attack me for putting everything into BAC. I know people say to diversify. I tried to pick a company that I thought would always be around and its hard enough facing this.

    Thanks for the advice.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • the selling plan crossed my mind yesterday that I am predicting BAC is on the falling mode to 2, and I doubt if it's going to see 6 even 5 again. It's very painful to see my loss getting more day after day. BAC has been a target to get punished by those stupid media and set up to be manipulated and attacked by shorts.
      another reason for me to make decision to liquid my account someday is the Obama and his adm., they are careless about WS, making this market getting nowhere but down, it has the depressed mode I never seen.
      of course, you make up your own mind, I just wanna to tell you, I also have the same plan, but wait until Mon. to see how it behaves, from SKF board yesterday, people're planning to buy BAC big time, so that is a good sign.GL

    • I will buy your shares at Monday's premarket time at BAC parking lot... LOL

      Dont panic...

      Buffett said better days a coming...

      GO BAC

    • I agreed with you.

      My only point is that people did not sell on Panic last $2.50...they were right to be panic when the Senate (Dodd) of Finance committe said 'bank should be nationalized that day'

      I like what Citi did, get it over, and let the Govt protect them...

      That makes me feel better now that Citi won't BK...

      I am waiting to buy Citi on Monday when it dips below a bit, hopefully it will.

    • Do not sell next week..... period. Monday will retrograde to the lower $3.00's bottom is in $2.75-$3.20 I can pinpoint. will se reversal to mid $4.00's during week. no later than Friday... Better to hold until following week. Bet with your head not over it.

      • 1 Reply to shopinclix
      • If what you say is true, and you think the stock will fall down to $2.75-$3, wouldnt it be wise to sell and rebuy? If I can get $4 and rebuy at $3, thats a $25,000 difference. It could also mean that I would own 25% more shares. Most seem to think that this stock will be fine long term but will be lower than $4 next week. I hate to short it but it would lower my break even point, which would be nice.

    • I would not sell pre-market, made that mistake before, if you absolutly need out wait till after markets open give BAC price time to stabilize (like that will ever happen these days) maybe get a sense of what it's going to do. My biggest mistake has been letting fear dictate how I trade, bad mistake! I'm getting it under control but it's hard when you see your hard earned $$ going down the toilett. Two days ago I was actaully in the green with BAC and close to green with other losses this year. Now in one day it's all red again, someone above said it best, if you believe in BAC, stay off this board and away from CNBC and any market ticker, come back in 2-3 years and see where your at, you will either be broke or very $$ happy.

      Maybe Mr Lewis can help you make a decision:'s%20Lewis%20on%20Merrill%20Acquisition&clipSRC=mms://

    • Stop answering! This is lying basturd he doesn't have any shares ,he is just playing game !!!

    • Dumb to sell now. These banks will not fail......... Two Big,
      Wait for a bump up if you really are serious and take them all out. Why sell in pre-market?
      Set a price and unload...........

      • 2 Replies to zzzz_10000_zzzz
      • How can anyone give advice without knowing your basis or time frame? Your previous posts say you got in the mkt arounbd Jan 16. so your in at 8. Dump most or all of it and buy a reasonable chunk of 2011 leaps 5 strike and forget about it. If it goes to one and it will ruin your life you need to do something and never let yourself or anyone you know go in that deep again. I believe we will be at 10 by the end of the year, but it will be painful to watch.....

      • They wont fail but how do you know they wont turn into something like AIG and trade at $1 or less for years and years. Do you really think price will climb when everyone thinks were are headed into the second great depression? Obama isnt helping things either.

    • If this trade isn't going to "break" you and you can wait it out,you should consider selling the BAC common and buying BAC preferred.You can get assistance from Ameritrade on this type of transaction.

    • You would be absolutely the stupidest investor alive if you sold your shares now, at the bottom or near bottom price.

      If I could make a suggestion, stop reading all of the negative reports being issued by the media these days. Ignore the media entirely. Stop reading all of the negative stuff on this message board presented by posters who have a vested interest in slamming the stock, mostly short sellers. Above all do not sell. Go about your normal business for the next 6 months and ignore the stock market's ups and downs. At the end of 6 months look at the market and see what BAC shares are selling for---I think you will be pleasantly surprised Reassess your position at this time, maybe sell, maybe continue to hold if you still have the stomach to do so.

    • You would be crazy to sell now IMO. BAC is not going under. Think about it.... this bank has over a TRILLION in deposits (2nd highest among banks), 2 years of capital to survive on, has posted profits in all but one quarte for the last 17 years and made 19 billion in just the last two years. The share price and trading action is nothing more than fear at this point and when this subsides and the economy starts to gain confidence you'll be glad you held. If nothing else keep your shares and hedge yourself with FAZ or by shorting FAS until a sense of direction is established. Think about it.... if the monster banks fail the government failed and with Obamas administration in place they're not going to let that happen.

      Oh yea and one more thing...... stay off these boards. They are full of a bunch of idiots that try and make the doom and gloom scenerio bigger worse than it is. The stock is sub $5 so shorting is not even an option at this point as many (if not all) brokers won't let you. I know scottrade and etrade wont. Good luck.

      • 1 Reply to timberseal
      • I agree about staying off of here. I get so depressed and panicked when I read some of these posts but I dont know where else to get specific information. Let me ask you something though, where do you get information like 2 years of capital to survive on, trillions in deposits, etc. Is it from Lewis? I use to believe him and then someone said CEOs are paid to keep people from making runs on failing banks. That and the overvalued books they just came out with. It makes me wonder what to believe. I would love to hold it but if things get worse with commercial properties,etc who is to say that the estimated 2 years of capital wont be eaten up in 1 month?

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