So far it's holding. The first 30 minutes were wild...getting north of $87 then back to the $86.40's....bid now $87.11. The question for me is can it close north of $87....it's shaping up favorably but as my 'ol grandma used to say...."If wishes were horses even beggars would ride..." Let's see what the market does.
Yes indeed. And buying was what I was doing yesterday....more a intermediate term trade than longer term since I already have a longer term basket in place. Let's see how it plays out...
You want Congress deciding something like this when they can't even reach across the aisle to each other? Yeah...that's a great idea.
Sidebar datum. According to the news there were a number of major, key, HIV researchers on that plane. They were going to a conference in Australia. This is a big blow to them and theirs.
Samm: Learning how to take a loss is what separates the amateurs who yap but can't play from those who can play this game. ;-) It happens.
In any case from a double top of ~$15.85 2 sessions back BAC has broken down badly on the chart. Given the FUD relating directly to BAC, and juxtaposed against the unrelated but more intense FUD of the Ukraine and Gaza I'm hard pressed in seeing this one stay north of $15 tomorrow. I suspect we'll see the high $14's..... TA indicates the bid is waaaay oversold here....but forces are at play that are well beyond the control of anyone....so pick yer spots and play it close to the breast. G/L!
Gaza nuttiness in full motion. A loaded jetliner, cruising at altitude, gets shot down by one of two chimpanzee groups in a mean grudge turf dispute with access to sophisticated weapons tech. Monkey back-biting wars underway. And we ain't even hit FRIDAY yet? Ah the human species.....Wonder what tomorrow is gonna be like, eh? ;-)
(And I'll leave aside how Malaysian Airlines investors must be wondering, from over the last half year, whose puppy they kicked to deserve all that's been happening to them of late. And BAC investors think they've got it bad.....)
Knfcgs: I never underestimate the stupidity of my fellow chimpanzees. The business of Politics and the Politics of Business are known for producing historic DBAG moves. The more money on the table, the more likely the DBAG move....
Hope: I hear ya. As an interested observer more trading BAC than anything else these days...though I do have a long term basket with a cost basis going back to ~2008....I've got to say whenever a management team goes dark it usually means there are puppies moving under the blankets. Doesn't mean they won't be fugly looking puppies when birthed...but I suspect something is going on.....
Power and ego never allow for such dont''cha know? Besides....whose to say the Fed's wouldn't move the goal posts if BAC plopped down an "okay $17B" offer on the table, eh?
Tigger....now add the Israeli ground offensive (land, sea and air) into Gaza into the mix. And oh...the Pro-Russian separatists just announced a 3-day cease fire? Regardless of the party I wouldn't be wanting the Power Oval job right now....
Nope. Master blew right thru that line. Bid going to $15. It's a sell side party while everyone else gets set for the $14's.....again...
Oh great.....Israel just launches a ground offensive in Gaza. I haven't seen this much global turmoil in some time. Clearly the market hasn't either...Dow now off 155pts and, of course, Master has again yanked Poochie...this time to $15.15. Buy side is show as large as I've seen today so they may be drawing a line here....let's see...
Bid $15.18. Okay....I didn't expect the geopolitical nuttiness. Who did, eh? Makes one want to ask what's next? Master has been all about the YANK and release (for a small bounce) followed by another YANK to a lower line then release....again and again and again. It's all enough to drive (Tom F) nuts. Heh! But it is what it is. For me I've opened a trading tranche looking for a bounce somewhere in the final hour. Just want 10pennies and I'll call it good. If I don't get it that's okay...I'll hold and wait. BAC will turn at some point. But if I could call it every time....well....I certainly would not be posting here. Maybe from my own kingdom.....;-)
Oh...to note....Master has had the tendency to show an ask that appears to fade. Indeed during that part of the "cycle" most of the action hits it. But the ask simply spins and refills over and over and over until.....the bid fails...when you stop seeing that spin action in the ask you'll know he's letting the leash out on Poochie....for how far and long....well....did I mention kingdom?
Bid $15.20. Looks like Masters intraday tactic is still fully engaged. Here come the $15.teens. Bid $15.19 and collapsing....
First.....Wall Street is all about BS. That's its nature. You know this going in and you're ahead of the game. Next...now we're gonna hear from all the chattering classes from both sides of the aisle whipping themselves up into a frothy lather over what should be, could be or ought to be done regarding geopolitics. As if it were all a Hollywood movie where everything gets wrapped up in a nice bow and an American flag in an hour and a half. Hate to burst yer bubble but real world politics....hell real LIFE, ain't like that at all. So I advise getting yer head out of yer cinematic #$%$ and focus on the reality. It won't help the global situation since you're like me, a peon in all of it. Grist for the mill and all that. But at least you won't be blinded by propaganda inspired delusions....
Oh...and MNKD? Bid now $9.26
Tom: "of course the day trade retail clowns like you only exacerbate...."
It's nice to see that idiots like you think I can actually influence events and intraday actions. Guess that must mean I'm telling you this from my own private island while minting my own currency, too, eh? HEH!
Seriously....don't take my comments personal. It's clear you're getting twitchy from the ongoing development. Me I've been playing this game for far too long to indulge in emotional twitchiness. Along the way I learned to spread risk, and never put your "bank" on any one line or equity. BAC is what it is. You either play it. Watch it. Or get/stay out of the way. It's that simple.
Bid $15.23 and trying to bounce. Let's see if it's another one of Masters pauses before yanking Poochie south of $15.20.