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Bank of America Corporation Message Board

highlowsel 767 posts  |  Last Activity: 12 hours ago Member since: Feb 26, 1998
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  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 12 hours ago Flag

    ~2M shares thrown at the bid crumpled it to $16.87. 15 minutes left....and infinity of time to waltz the bid south of .80....I have a bid set at .81...but think I'll move it down into the low .70's....it may not go there today....but since this non-BAC situation will not be resolved tomorrow I expect to see another downbubble day....calculate the usual ~2% downbubble means you can look for another ~.40 pennies of downside over the next session or two. That's calculated at 2.5% on a close of ~$16.85...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 12 hours ago Flag

    Indeed....bid setting to break $16.90. Down ~3% today...ask show continues, as it has almost all day long, to overhang....Down down over 330pts....feels a little bit like 2008 when everybody was throwing all the babies out the window with the bathwater.....but it'll pass. Here comes the $16.80's...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 12 hours ago Flag

    I may have just out clevered myself into a "now why exactly did I do that?" moment. Bid looked to be recovering then Master went and yanked the Pooch straight back to $16.91. I think there are better than even odds the bid ends the day in the $16.80's...which sets up further yankage tomorrow given the Greek drama is only intensifying...not to overlook the likes of P.R. and China...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 13 hours ago Flag

    Equitie:

    Okay...I split the difference a bit....still waving the low-ball $16.80's bid...but grabbed a second tranche at the ~$16.91 line.

    As for Guam...GUAM!? Just how big is the (primarily U.S.) militarized Island anyway" ~166K people at last count!? But I get why it works...so long as they (military) can con the American taxpayer to keep the coffers wide open....why of COURSE it'll work. Puerto Rico is a different animal.

    And China....well....that decidedly one party guberment with their +20% yankie in markets just proves one thing.....political ideology means nothing when it comes to market-wide crashes does it? Hell...come to think of it....exactly where do you think the 2008 debacle period started? In the hallowed halls, those sanctified Capitalist sanctums otherwise known as the good 'ol U.S. of A. and Wall Street. So yup....market crashes are not a function of political ideology. More the consequence of basic human greed and avarice running into the big wall of hubris.....

    But hey...speaking of greed...in the time it took me to write this the bid went to....$6.98. Go figure...

  • highlowsel highlowsel 14 hours ago Flag

    Bid now $16.92. You're right things are getting well stretched into the "this is ridiculous" zone. But here comes even more ridiculouser (is that a word). Bid just crumpled to $16.91 and, much as it has all day, the sell side has their ears pulled back, are snarling and are well on their game. Here comes my low $16.80's bid getting hit (me thinks).

  • Reply to

    BAC is breaking down

    by sarge198502 17 hours ago
    highlowsel highlowsel 14 hours ago Flag

    Then again.....just like that Master yanks the Pooch back to the downside. Bid $16.92. I might get my low-ball $16.80's bid hit after all....

  • Reply to

    BAC is breaking down

    by sarge198502 17 hours ago
    highlowsel highlowsel 14 hours ago Flag

    Nobody calls tops and bottoms with certainty even a majority of the time. Hell I don't even try (excepting the extreme outlier event). I just look for relative approximates to 'em....then use a stagger in stagger out tactical strategy. Of all the things I do I've found this to be the most successful tactic to use.....this also holds in check my own personal greed and avarice. ;-)

    Anyway....looks like Master is pulling his "let's confound 'em again" card...bid now $17.02 and showing support. Dam! I don't think I'm gonna get my low $16.80's bid....but I'm fine where I am.....come on Nest...roll those dice and let's see what comes up (next)! Heh!

  • Reply to

    Goldman Trims 2016 EPS to 1.70

    by original_matrix1 Jun 28, 2015 7:07 AM
    highlowsel highlowsel 15 hours ago Flag

    Hmmm......well....."...2016 and 2017, to $2.74, $1.70 and $1.80, respectively (down from $2.89, $2.35 and $2.30).."

    Love the confidence of our new Goldman anointed priestly seer set who come out pontificating on a future they cannot possible know. Pontificating using all the wisdom their religion allows. Interesting how their name incorporates the key aspect of Mammon, eh? But that's the nature of this game ain't it? I could come out with numbers, too. One's that would be equally valid. But that's not my game. I don't engage in such acts of hubris.

    I'm more a "what's going on right now" kind of trader. And in that regard MU is again getting intriguing. But I need to see the TA work itself out. TA? Yup...blow out to an ~3year chart. Then run the Fib's, low to high using the low of ~$5.35 (Oct 22, 2012) to the high of ~$36. On that time-frame the bid has been threatening to break the critical $38.2% It's now not just been broken, it's been smashed. So color me (again) interested in where to from here. This smashing usually leads to further declines until supply/demand (of the equity) balances again....this, I suspect, will take some time. Let's see how it plays out.

    Highlow
    American Net'Zen

  • Reply to

    BAC at $17.01

    by sarge198502 17 hours ago
    highlowsel highlowsel 15 hours ago Flag

    Agreed. Greece is a problematic non-event for the U.S.. I don't get any sense that the exposure is overly large there, but that's just my impression. Puerto Rico is a bit of a different situation...plus their population has been.....errr....migrating en mass to guess where? Wonder what our immigration policies are regarding this, eh? Heh!

    And then there's China where the markets have been hammered downward by ~20%. So to be sure there's cause for nervousness but not at the level being pontificated at by our "responsible" media talking heads. But it is what it is and I can effect none of it (the chatter). But I dam sure can play off it.....So strap yerself in folks....if'n yer trading these are the times you live for....

    ;-)

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 16 hours ago Flag

    Got the $16.90-ish....bid now $16.99. Still waiting to see if the $16.80's occurs. I tell you what I find irritating? What I find irritating is all the self-annointed pundits of the "know" are flooding their opinions out of every media orifice right now. Their opinion on Greece...that oh...my...GOD is THIS the trigger that collapses on all of us. Jeez....all the pontificatins...the shrieking of fire in the crowded movie house....it'd all be laughable if it weren't for the dam effect it's having on everything. I tell you what I'd like to see right now? Somebody go pull the plug on all the media....tell 'em to give it a rest until....tomorrow?

    Bid now $16.96 and appearing to be setting up for the next leg down...by the way...besides the gap closing I've also maintained on my longer term chart an uptrend line originating from May 8th $16.19 line. Interestingly enough it sits, today, at ~$16.83. So the bottom of the upside gap plus this line are two metrics to watch....if they get broken then....well...next support is the downtrend line originating March 20th, 2014 at $17.75 (the first of the `triple tops that have occurred over the last 18 months...that line sits, today, at ~$16.47. I consider this a low probability event, but it's on the table for consideration.

    Meanwhile the exogenous event that is the Greek drama is uncovering all sorts of cheapies.....

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 18 hours ago Flag

    Here it comes....bid $17.02. There is currently almost zero support being given to the bid. In effect the buy side camp has stood aside.....guess they're looking to pick up some cheapies, too? Hmmmm...conversely...or perversely...NBG bid is now $1.02 and getting a ton of support. I may have to flip out of my NBG and swing profits into this BAC sell side overshoot. But I need to see that ask overhang abate....typically speaking that's the usual tell of the System Lords...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 18 hours ago Flag

    I went for the double 00 with a grab of NBG in PM this morning. So far...looks good...bid now $1.01. I'm sitting just south of a buck with the usual stop.....

    As for BAC...well...there's really absolutely no intrinsic reason why the sell side keeps hammering the bid. Or maybe I'm just not seeing it....anyway....if it breaks $17 that puts the low $16.80's back on the table since that's about where the early June ~$16.80 to ~$17.30 upside gap occurred. There'd be a certain...symmetry in the bid being walked back down to that level on the intraday.....

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 18 hours ago Flag

    Yup...bid $17.07. No...$17.06. Here comes the test of $17. The System Lords are nothing if not predictable in the execution of the sell side game, eh? Too predictable....machine predictable...bid now $17.04....I suspect they're going for my $16.80's open bid? ;-)

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 18 hours ago Flag

    Sarge: LOL! Well sometimes you got to play the double 00 on the wheel, eh? ;-)

  • highlowsel highlowsel 18 hours ago Flag

    Exogenous events like these make for a great many "overshoot" trading temptations. The entire market is emotionally reacting...aided and abetter by the headline reading BOT's of course. Play it accordingly is my viewpoint on this latest example of market nuttiness. It'll abate.

    As for Puerto Rico....it's only surprised those in the media who have allowed the Greek drama to overshadow one a lot closer to home. One that stands to have a far larger impact.

    Bid $17.13. System Lords pushed down on open...then relaxed to allow the bid back a bit north of $17.20...and now they're keeps a gradual cap on the bid with the usual large show of the ask. Remember it's never, or seldom, the first push down that defines the total session low (or high for that matter). 'Course...whenever these pulses occur there's a tendency to manage the bid by +-2%....and right now it's down over 2.5% So there may not be much more....but stay tuned? This one ain't done by a long shot.....(no pun intended).

  • highlowsel highlowsel 18 hours ago Flag

    I heard a Bloomberg commenter saying something about Merkel last week that cracked me up: "Merkel is Hoover in a pants suit." Don't know the truth of this...but it made a hilarious visual (for me).

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 18 hours ago Flag

    Buck: Ha! I dunno from smarts. Maybe more like even a blind squirrel finds the nut from time to time? Just gotta stay low to the ground and use your nose? Errrr....so to speak. ;-)

    Meanwhile...hey NEST! If'n yer around....(and I, myself, took some sanity time the last couple of sessions) and don't mind playing in heavy traffic....NBG below a buck is....interesting....just don't go betting monies other than that which you'd ordinarily "roll up and smoke." Could win big...but yes....you could leave the table with nary a dime. The very definition of high risk high reward....

    BAC bid $17.22. It might start to recover once the markets realize how little the damage could be to U.S. markets....but....didn't they once say that about the 2008 CDS's that went off with WMD force? Let's see how it plays out...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 19 hours ago Flag

    Bid $17.04. Looks like my surmise is playing out....the machines are zero'ing in and hitting everything they can "see" below bid....gonna open down ~40pennies easily at this rate...

  • Reply to

    PM Bid $17.15

    by highlowsel 21 hours ago
    highlowsel highlowsel 20 hours ago Flag

    Okay....decided to grab an initial trading tranche (in the usual stagger in, stagger out fashion) at ~$17.17. I won't be surprised to have to hold it as a swing trade, but ultimately I look for it to work out. Just an initial grab.....I've targeted further entries lower. Let's see how things today not only for all the finnies, but with Greece and Puerto Rico, too. Puerto Rico is actually more concerning (to me) because domestic US exposure is....larger (than Greece).

  • Reply to

    Greece

    by bac_trader 21 hours ago
    highlowsel highlowsel 20 hours ago Flag

    Bac_trader: I don't know from socialism as it's become, for me, a hackneyed term. That said, though I find Greece interesting I think we need to look a bit closer to home. Our de facto 51st State, Puerto Rico, is in the midst of going belly up, too. And I can think of more than a few high-powered hedgies that are freakin' over it right now.....and the last time I checked Puerto Rico was firmly ensconced in the American sphere, eh? ;-)

    So be it the European sphere, or our Caribbean one, me thinks the 'ol axiom of people in glass houses being careful of throwing stones is apt here.

    Juuust sayin'....meanwhile here at the ~$17.17 line I've been nibbling an initial tranche (for a trade) that I will add to depending on how the day goes....

    Highlow
    American Net'Zen

BAC
16.89-0.52(-2.99%)Jun 29 4:05 PMEDT