I won't be selling....but with opt exp around teh corner who can say. Besides....once again the fat lady has NOT YET sung.....so it leaves for Master and mischief. And even when the singing is heard I maintain you don't need to worry about BAC running away from you. It's a heavily loaded freigher and isn't going to be doing any Olympic sprints to the finish line. But the bias is positive, and I'm patient....this time next year should find the pps higher...bid $15.52.
Thanks. Hmmm....funny how it dipped and went up just prior to that news, eh? Anyway...I still would caution from what the news says...."The agreement, which could come as early as Thursday...." Still not sanctioned even if this came out via WSJ...just another "it's a'comin'..." I want to see a "BAC and DOJ have concluded their agreement.....etc., etc., etc..." I've had enough of the "...could come out as early as..." stuff.
But the market seems to think it's near. Bid $15.53 and getting nice support.
Well now...POW! Who let the dog out? (hmmm...there's a rap-type song in there somewhere? Heh!) Bid now $15.49 and surging.....maybe this is telegraphing that Godot is just over the horizon and a'comin'? ;-)
Master just used a small 200K share sell side yank to bring the bid here. Looks like he's trying to take Poochie back to yesterdays intraday downtrend line. A line that sits, right now at ~$15.35. I expect he'll do it, too, given the sell side tactical action is STILL dominating the intradayu...think I'll wander down around that line and wave a low-ball bid...
Meanwhile smoke 'em if you like 'em.....the equity continues to pace back and forth waiting on a public declaration of resolution achieved. Bid being walked back down just like yesterday. Now $15.42. Such action as is happening on this low volume day is either hitting the bid or the spread...very little is hitting the ask....it's basically stuck in churn mode with Master keeping just enough pressure on to mitigate any positive pressure....I don't see this changing until it does.....did I mention smoke 'em if you like 'em? Heh!
Yah...but not today as the market continues to wait for Godot with this equity. Meanwhile the intraday action is shaping up to be (almost) identical to yesterday. Pop it at the beginning of the session then pressure it downwards for the rest of the day...the same saving grace applies....volume is well below average....which basically means all sides are standing around waiting on the obvious....
$32.75 resistance being broken. Bid now $32.87. Too soon to say for sure but it puts $33.50 on the table....though the zone from here to there is probably gonna be "molasses-like" in trying to get the bid to it....
Session starts with Master doing the classic yank..bid now $15.38.... and being hammered in usual sell side tactical fashion. The action picks up where it left off yesterday.....
Indeed. Picking one horse in this sector is somewhat problematic. Although I have some YGE, FSLR and TSL I think an ETF, for now, may be the safest way to play a sector that is sure to boom over the next decade or so. Uhh...this is my WAG, of course...but it's aided by the likes of today's sector news which reads:
"Solar panel installations are expected to jump 29% this year, and companies are facing the first supply shortfall since 2006, reports Ehren Goossens for Bloomberg.
"The cell and module glut has certainly dried up,” Stefan de Haan, a solar analyst at IHS Inc., said in the article. “There is no massive overcapacity anymore.”
The sector could install as much as 52 gigawatts this year and 61 gigawatts in 2015, compared to 40 gigawatts in 2013 and over seven times what developers demanded five years ago.
Meanwhile, the solar industry has about 70 gigawatts of production capacity, which includes older equipment that is not profitable. De Haan believes usable capacity is closer to 59 gigawatts."
I always like sector set-ups where demand is outstripping supply....reminds me of the SSD (MU, SNDK, etc.) sector in some ways only, for now, a lot less developed. Let's see how it works out between now and 2020....
Yah....AH's last trade now $15.43. AH's, like PM, is notorously inaccurate but even so, the AH's shows no change in the usual sell side tactic. Given this I won't be surprised to see the slippage continue tomorrow.
$15.65 is a mother-bear to get (back) on top of. If you zoom out to a 30/60 day chart you can clearly see that the equity is having trouble with that line. In fact, on average each time the bid has gotten around that level it has gone on to p/b by ~2.5%. Given this, and the reality that today qualifies as yet another test of that approx level.....I'll go out on a WAG limb and say don't be surprised if the bid goes (back yet again) to the ~$15.30 area....this is nothing more than a WAG simply based on recent history....the recent (starting Aug 1) uptrend line will still be intact...but juuuust barely....and all such TA indicators as the stoch's are now signaling well oversold. So it may not do it. But since Godot has still not arrived one cannot discount the possibility....in any case tossing out this WAG makes it fun (for me). Gives me something to measure (myself) against. By the way...I will continue to judiciously add to both trading and longer term core positions on any further p/b simply because longer term there seems more upside potential than down. Let's see how it plays out tomorrow.
Bid now flat at $15.45. Looks like a day of all 'round the barn and back. The saving grace, if you want to call it one, is it started off popping nicely then spent the rest of the day (on below average volume) declining back to flat-line. Kind'a implies there's a lot of pent-up interest just waiting on Godot......errr...the DoJ....let's see how it closes. Bid now $15.46.
Codi: There's really not much to make of it. There's an upside bias clearly in place...but BAC ain't going to move much until the DoJ FUD is out of the way....wonder if Holder in Ferguson is causing any delay's, eh? But I digress....overall there's no need for panic....but no need for excitement, either....at least...for now....one has just got to be patience....and if you believe the outcome will ultimately be positive use any/all p/b's as opportunities to either trade around a core or add to the core...maybe both? As for the intraday it remains what it has been of late...it's all about the churn....
Just my 2pennies worth. Bid now $15.47...(meanwhile GILD is zooming...and even DRYS has picked up just a wee bit, eh? ;-) )
So far today you get the gold star on the forehead for the best call of the day. Bid now $101.30 after dipping to just less than $99.40.