Ignore all the cheerleaders on this board. If it were that much of a sure thing that BofA was going to $18, or $20, then it would already be there. BAC has been on a hell of a run lately, from $13.80 to $15.60 - 13% - in just 10 trading days. Nothing keeps going at that pace.
Of course, that doesn't mean it will sell off, just that it can't keep going up at this pace. If you made a profit, then you did well. Don't look back - nobody buys at the exact low and sells at the exact high. it went up 45 cents today, by definition, tomorrow it could just as easily drop 45 cents.
I feel like the market wants to make one more surge toward S&P 1,800. I'll short then, but I'm hesitant to short until the market breaks at 1,800 again
With a forward P/E of 335, you and I must be missing the same thing. I'm just trying to decide when to short, and how much.
BAC has been on a rip since Nov 7, when it hit the low of $13.80. Since then it's up 10% - 10% in just 8 trading days. But really, most of that came on three days of ~$0.30 moves - on the 8th, 13th, and today (19th).
And each of those big price days have been big volume days - about ~2x average. That is typically a bullish sign - trading up on higher volume.
I'm not really drawing any meaning or predictions, just pointing out the obvious. Clearly, no stock can continue to grow at a 312% annual rate (extrapolated from 10% in 8 trading days). But BAC certainly looks good if the market strength continues (a big "if", if you agree with Icahn).
Ha ha - message board troll pretending to have insider info that will drive stock prices higher. There's a first!
As of today (@ S&P 1,800) the stock market is up 30% from 12 months ago. 30% in a year!
Pigs get slaughtered. It doesn't take Carl Icahn to understand 30% is a pretty good run, and people gettign greedt... say predicting BAC $18... are going to get hurt.
After all, how high did you think the market was going to go without a correction? 1,800... 1,850... 2,000? We haven't even hjad a 5% correction all year - 3% or 4%.
I'm not trying to bash, and I know all bulls hate anyone that doubts S&P 1 million, but come on people, be realistic. The stock market doesn't go straight up - at some point you have t opay the piper.
That being said, I still expect the market to top 1,800 briefly. Take the opportunity to lock in profits - don't lose your gains.
Best of luck to all.
Numbers out today prove you wrong (lying?) about Oregon numbers. I guess I missed you posting an apology. Oh, that's right, there is no accountability on the left.
I'm not sure I'd go that far - that would be another 35% rally. That's as silly as saying it will hit $9.50 - same percentage run. But a new 52 week higher certainly looks possible.
There's only like 1 1/2 % short - so definitely not enough to move the price, even if everyone decided to short all at once. - as you mentioned, "doubt it"
From $13.80 las Thursday to $14.60 today - 80 cents in 4 trading days. I have to admit I didn't see that coming. The chart looked dismal a week ago. Now it's pushing back toward the 52 week high.
The stock market is a fickle #$%$.
Right - so you are claiming to have inside info into the Oregon sign-up process and results. Which means you're violating a confidentiality agreement to post about them... and we should trust your word on it???
The website didn't work (your statement) and you laughingly think 56,000 signed up by PAPER?
I'm sorry, but your number will prove to be very wrong. We'll find out soon enough - no point to arguing. I could be wrong. But your number doesn't pass the smell test - it simply doesn't make sense that such a disproportionate number of people in Oregon would sign up, and do so via paper/phone.
"In a 21-page report sent to clients this afternoon, Mr. Mayo took aim at what he calls the bank’s “unfocused strategy and muddled metrics,” and criticizes the bank’s financial disclosures and governance decisions."
Ha ha - so the number haven't been released, but you know the numbers? Typical liberal - bad logic and bad lies.
My numbers are correct. Certainly there have been some people that signed up, not zero. But FAR FAR less than you made up. Probably only 10% of the numbers you made up.
This is a lie. Only ~50K people have signed up in ALL state run exchanges (another 50K in federal) - based on number released from the Adminstration as of yesterday. For your numbers to be correct, 100% of those that signed up would have to have been from Oregon... not likely.