I sold 90% of my BAC holdings in the last three days. Conservatives are far too happy and I know they are always wrong. Look at Gold and how poorly it has done. I may be wrong but I agree that all the clues are there that the market is due for a correction. I have orders in to buy between $12.25 and $12.50. Could fall lower than that.
I have done the same. I sold a little too early last week and missed .50, but I made a up a little of that with my first short trade from 13.53 to 13.32 in a 2day trade. I will get back in at 90% and or 85% of the high (I keep good till cancel orders set for any possibl flash and adjust with highs). If I am wrong I will wait out the dow getting near 2000 then go short all in (not all BAC). I am all cash except 5K POZEN @ 4.70.
I am not so sure you will see 12.25 but that would be a point where many people would become buyers. I am thinking we might see 12.75 to 12.95 next week or the following but after that I am sure we will see 14.00 I sold everything to days ago and went short at 13.46. However if you are right I will start buying at 12.95 and buy all the way down as low as it will go!!! Good luck to you.