It all depends on your time-frames doesn't it? If'n yer trading the equity for in/out/in/out churn pennies then waiting on some sort of small p/b is the tactical thing to do. But if'n you're establishing a position with a 6 month or longer time-frame then any p/b is so much noise when juxtaposed against the likelihood that the pps will continue apace its current trend. In the latter case waiting on any p/b of note might be akin to waiting for Godot....
Just some thoughts. Meanwhile PM action is at ~$16.77. The bid is testing the lower end of a downside gap (from ~$16.50 to ~$17.15 on April 6-7)...I suspect the set-up for this week is to take the bid north of $17....but this is just a WAG. Let's see how it actually plays out.
Battle lines are drawn at $16.99 x $17. So far huge volume is being expressed at this area...5.5M (volume) on the $17...4.3M on the $16.99. And overall volume is wailing away heavy...
Bid now $17.01. Not to cheer-lead but go go go! Heh!
Totaling ~250K in shares just gobsmacked the bid from ~$10.40 to $10.32. Bid now at $10.35 but the sell side action has been fairly fierce today...their run-n-gun game has been succeeding...I anticipate they're settin up to take the bid into the mind $10.20's...bid now $10.31. Their mission (to the extent what's being seen is coordinated)? To demoralize the buy side....
Huck...yah....$17 Calls running a bit hot...and those Jan $18's are surging, too. Looks like sumbody likes a +$18 line by Jan? This seems reasonable given that's 3 months out...even for a plodder like BAC. But as always let's see what actually happens. For now I'll be happy with a +$17 bid....which is now at $16.94...
Thought on a Sunday this might be worth a read?
1. Dollar-cost average for your entire life and you'll beat almost everyone who doesn't.
2. Only invest in products and companies you can explain to a six-year old.
3. Every five to seven years, people forget that recessions occur every five to seven years.
4. You're twice as biased as you think you are (four times if you disagree with that statement).
5. Read more books and fewer articles.
6. Read more history and fewer forecasts.
#$%$ strange that you go to the doctor once a year, but check your investments once a day.
8. Be careful when reading about how stupid investors can be and not realize you're reading about yourself.
9. Your circle of competence is probably 90% smaller than you think it is.
10. You're only diversified when some of your investments perform worse than others.
11. Big risks will always be disregarded; small risks always blown out of proportion.
12. Check your brokerage account as infrequently as it takes to prevent rash decisions.
13. When in doubt, choose the investment with the lowest fee.
14. Emotional intelligence is more important than book intelligence.
15. The more you learn about the economy, the more you realize you have no idea what's going on.
16. Start saving for college before your kid is born, and start saving for your retirement before you graduate college. You'll feel silly when you start and like a genius when you finish.
17. The most powerful way to grow your money is learning to live with less, since you have complete control over it.
18. Singer Rihanna nearly went broke and fired her financial advisor, who described her situation well: "Was it really necessary to tell her that if you spend money on things, you will end up with the things and not the money?"
19. You have no obligation to have an opinion about anything.
20. You have a strict obligation to not have an opinion about things you don't understand.
Here it is a little after 08:00am Saturday and all those vaunted portals of the "know," the SA's, the Fools, etc., are quiet? Those bastions of free enterprise and financial acumen (HEH) that have been known, where this equity/company is concerned, to blast out multiple narratives in 1hr's time and over succeeding days. Multiple narratives that have been mostly bearish. They pipe up at the drop of a hat. Yet here we are +12hrs after a significant binary event for the focus of their attention and....everyone's quiet?.
What, trying to figure out how to spin the news (now)? Trying to develop a continuing plot-line that will aid and abet the prior narratives? Well....let's do a little anticipating before the fact....longs, man your walls your bastions and your ramparts (heh) because I'm sure they're going to come at us in the following fashion....the easy line of attack, FDA denial, cannot be used. Nor can the nature of the Box warnings since the warnings, while I'm admittedly no medical professional, seem benign to continuing product development and roll-out. There's little impact there. So what lines of attack are open?
1. The issue of Partnership with the concomitant, 2) they don't have the money so will have to dilute shareholder value to stay afloat.
These are the 2 big attack paths I see them spending this quiet time trying to develop. I expect the attack to commence either later this weekend....maybe by Sunday afternoon, or prior to market open on Monday. I rate the probability of attack high simply because the bid closed AH's at ~$11....this indicates the bid is setting up to run a lot higher once the market mulls the situation this week-end. Consequently the attack will have to commence before open so to mitigate the upside as much as possible. Expect the usual portals to be the sources of the attack. SA, dah Fools, possibly even Barrons and the like.
'Course.....this could be sheer paranoia speaking....but I don't think so. Let's see..
Here in the last 4 minutes sumbody must'a launced a sell side market order 'cause ~120K in shares hammered the bid from ~.59 to ~.49....I notice the pattern of doing this occurs (almost) every time the bid appears to be gathering some momo....so the short's may be quiet (here and elsewhere), but they're clearly afoot with the mischief...
Tigger: "....while posters here get frustrated and complain endlessly about how the stock doesn't do anything..."
HA! Well...it's said most have problems with delaying gratification these days....a symptom of our "point and click get it now" world? Guess they would have failed that 3year old "here's a cookie hold it for half and hour and I'll give you TWO" psychological test, eh? (VBG)
Bid dancing around $17....now at $16.98 again...
M.moc: Actually you've touched on something I've mulled over off and on for some time. Why, to the extent that it does, does TA work? Is it because there's some mathematical God who's ordained that when the stoch's are "here," the bid rolls over or takes off? That gaps shall be filled? Or that Fib retracement levels shall forever more be characteristic of support/resistance lines? That the 200/100/20 (take yer pick) day MA have relevance? Some seem to think the answer is yes. Others, not so much.
From the perspective of strict logic I fall in the latter camp. I acknowledge that TA has a certain....trading and investing legitimacy. Heck I use it extensively. But I submit this is not from being "ordained" by nature or "god." Rather....it's a self-referencial mechanism with the self being the human animal. By believing TA works, as a herd-think idea, we make it true. More or less. In effect TA is a self-fulfilling prophetic mechanism we use in an attempt to define.....what we (the herd) are going to do next. It's an attempt to predict our own behavior. So to the extent TA actually works this is why. It's self-fulling.
If the market was dominated by "aliens" TA as currently expressed probably wouldn't work. Indeed, more and more one could argue that the rise of the HFT's/Algo's is leading to TA becoming irrelevant...excepting the machines are still programmed by humans. Once the disconnection in that association occurs all bets on TA's viability are off. Think Terminator Sky-net as applied to the markets (heh).
Okay...obviously I've too much time on my hands today....just some way OT thoughts....oh...MU bid...$32.37....
""Starting next year," writes Jack Hough in Barron's, "BofA (NYSE:BAC) investors will get a glimpse of two things they haven't seen in years: a fairly clean income statement and a decent dividend." Litigation costs are set to nail the bank again this quarter, but then will begin to quickly clear away, leaving investors to focus on the bank's operations. Earnings per share - an estimated $0.75 this year - could hit $2 in 2017, and the annual dividend ($0.20 now) could rise to $0.55."
I like it. IF it happens. Since I've a core position that I'm maintaining for the "long haul" let's see what actually happens. ;-)
And once AGAIN 'ol Lucy starts the session off with a "yank the ball" wave of sell side action. Wave after wave after wave of selling....the majority of the ~2.7M shares in volume so far have been such. Interesting that PM had it as high as +$32.40 and from session open it's been all hammer-time. It's somewhat surprising....but only if you don't know Lucy's tendency towards mischief where this equity is concerned. I'm in for a long side trade at $31.81 just playing the set-up indications of waaay oversold....now watch Lucy take the bid to the $31.20 area. :P!
Remember something. SA is really nothing more than a "gussied up" Yahoo posting forum. I'm coming around to the opinion that all of their ilk, the SA's, the Fools, the Flys and such all live in a self-referencial mirror-ball. A pseudonym on SA puts out a comment, a write-up, an opinion peace, something. YHOO posts it as "news" and the back-n-forth spin-up commences....
It's all a "news" generation system designed to aid and abet the principles behind the initiators of it (the "news)...
Just some thoughts...
Just hitting the wire.
PM bid $101.42....didn't even bother running thru $100....just leaped right over it...so far. I'd say it's gonna be another good day and week? ;-)
Bigkahuna: $45!? Yeeeesh...I doubt anyone is looking that far out. For now I'll settle for $18 by middle of next year....maaaaybe $20. I think that's doable. I disagree with the old fogey stock comment. In relation to its peers it's well undervalued. One could consider it almost a speculative play with a fair amount of upside if'n you have the time....and the young have plenty of that (time). The question is...do they....for that matter do older fogey's, too,...have the patience? Bid ended the day at $15.12. Just off the low...but well north of last Friday's ~$14.84 low....patience....with BAC that's the tune to play....
If it can break and hold on top here it sets the table for a possible run to the ~$17.25 area. Not today....but eventually. Errrr....just my 2pennies worth of course. Bid now $15.58.
Mturner: "Incidentially, putting the political posts on IGNORE..."
HA! Amazing ain't it!? Much like the HFT/Algo's have settled onto BAC (the equity) as their favorite churn darling so, too, all the OT threadsters have settled on this thread as a source-point for all their OT trolling and such. It is what it is. Thank god for the ignore function, eh?
Let's see what the market does to the bid today. Currently $16.72 with the ask absorbing most of the PM action...