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Bank of America Corporation Message Board

highlowsel 862 posts  |  Last Activity: Aug 28, 2014 4:03 PM Member since: Feb 26, 1998
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  • Reply to

    BAC will trade back up next week

    by hucktwain Aug 28, 2014 3:18 PM
    highlowsel highlowsel Aug 28, 2014 4:03 PM Flag

    But then again....da machines...they never sleep...they never go on vacation.....and we all know the overwhelming percentage of the volume is driven by them....so.....who knows.

    Everyone (reading) enjoy the holiday and long week-end....we now release the thread back to all the OT politico stuff, which I expect to be prevalent seeing as how, surprise surprise, Putin is being....Putin... ;-)

    Highlow
    American Net'Zen

  • Reply to

    BAC will trade back up next week

    by hucktwain Aug 28, 2014 3:18 PM
    highlowsel highlowsel Aug 28, 2014 4:00 PM Flag

    I just had to see how this thing closes...and sure enough with the ask showing +1.2M and the $16.01 bid fading I expect $16 will close it. This sets up game-playing tomorrow south of that line, with a resultant close maybe at this same line. But it'll be a weird one 'cause most will be on vacation, volume will be light, so it'll be hard to gauge. As you say, when everyone comes back next week there'.. be a better read.

    Bid closes $16.01....

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 11:41 AM Flag

    Huck: LOL! Hey don't get me wrong. I'm just calling out what I'm seeing, which could be wrong....taking the longer view it's just some information that may prove pertinent (or not) to your risk/analysis stance. Or maybe I'm just thinking too much "out loud?" ;-)

    No need to panic or take any bait. Just ride it out longer term. I just find it tactically interesting to (obsessively? Heh) follow the intraday action....by years end I still think $18 area is "doable," but we need to see the current intraday character of the action shift a bit first....One step at a time, eh?

    Meanwhile that's about it for me for the week. Got some plans lined up for the holiday (Labor Day) week-end and I think I'll kick it all off early....sometimes it's good to just push back, unplug from all the electronics and enjoy life sans all of it (the electronics)....in other words....all work and no play does not a good Highlow make. ;-)

    Enjoy!

    Highlow
    American Net'Zen

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 10:42 AM Flag

    Bid $16. Remarkably consistent tactical action by the sell side....there will probably be a small bounce setting up the next push-down to the sub-$16 zone. Again..watch how the ask side sets it all up....

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 10:37 AM Flag

    Lan2. Yup (for me). Be mindful, though, that if it does so it's well into that aforementioned ~$15.75 to ~$16 "mush zone." (For lack of a better descriptor) The possibility of further slippage (into end of week) down to ~$15.75 cannot be discounted....which interestingly enough would take it back to a former downtrend line (of mine) that I drew off the former high area of ~$16.30 of Aug 22 with the second point on that line (same day) being ~$16.20. That line sits right now at ~$15.75. If it does so that'll amount to a total wash-out and set-up for some upside.....however it plays it's clear that it's going to take time for ~$16.50 to be again challenged, much less be broken....

    Bid $16.02 and under heavy pressure. It's about to break...and STILL the ask show overhanges....which continues to be the "tell."

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 10:31 AM Flag

    By the way...what's going on is nothing necessarily specific to BAC....more to the sector as a whole. Pull up a TA chart of XLF, C, BAC, et.al. They almost overlay each other (so I suspect the XLF, as a composite for the group, is the chief culprit). BAC is just more....accentuated than the rest due to its churning character...

    Just some thoughts. Bid $16.02 and still under pressure..

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 10:27 AM Flag

    Second push (down) occuring off the release to ~$16.07. This is also the third session in a row that the sell side tactical game has been in effect. Bid now $16.02 and effectively back at, close to below, the DoJ decision bid. It's well oversold here but the name of Masters game (for now) appears to be "Take Poochie sub-$16."

    And he'll do it, too. He always does....and allowing for a continuation in the character of the intraday so far revealed my WAG is the Poochie is being set-up to visit the low $15.90's....at least...that's about where I'm now waving another bid.

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 9:56 AM Flag

    Okay first (of the day?) downside push looks to be completing what with the bid hitting $16.04. Now at .05 but watch the way the ask show is still being used to overhang the bid. It's really how the ask performs (for now) that is the continuing "tell" for me in determining what's "afoot." And so far it's telling me the sell side game is still engaged...so far the volume for the day is saying "above average" though it could change. It doesn't surprise me because the BOT's use the same Fib metric's (plus many others I'm sure) so it shouldn't surprise that pivoting off those metric's would be characterized by "pulses" in volume and such. Just all part of the way the game is these days....you play at the table dominated by the BOT's you'd best understand what "motivates" them.....bid $16.07.

  • Reply to

    PM last sale $16.10/11

    by highlowsel Aug 28, 2014 7:26 AM
    highlowsel highlowsel Aug 28, 2014 8:07 AM Flag

    Nothing wrong, per se. The sector is just following the market. That plus it's had a few recent up sessions that are probably be consolidated. But the volume is "vacation" low so there's not much, imo, to be concerned about. Low volume days always tend to be dominated by the sell side, unless there's something specific to an equity situation.....say like.....GILD or sumthin' like that. And we certainly do not have THAT kind of energy focus on the financial sector much less on BAC. It is what it is. Last sale $16.10 and the tactical sell side game of a larger ask (show) overhang is already in effect...albeit small by intra-session standards....I expect this is a "tell" that the equity is going to $16. Hmmmmm......gotta run around and see how the Options are being gamed.... ;-)

  • highlowsel by highlowsel Aug 28, 2014 7:26 AM Flag

    The low volume take-down will probably continue today. It'll most likely follow the overall market....which, so far, looks to be down (again on low volume). I suspect Master is gonna take Poochie to $16 to close out the week overall "doing the dirty" to those $16 options.

    So...as I'd mentioned earlier...from my point of view what to look for that would be indicative/instructive of more downside? Well...run the fib's from the ~$15.00 line, which is where it was before the DoJ news surged the bid, to Monday's ~$16.45 high area. Look at where the 38.2% retracement level sits. It sits at ~$16.10. That's the mark to watch. Interestingly enough that's almost exactly where Master has Poochie right now this very second (heh). If it breaks then the slide will probably continue, possibly back south of $16. If it breaks south of $16 my WAG would be it'll try to bottom out in the low side of that "soft" ~$15.75 to $16 zone. That's the zone I'm tracking to really jump in for an intermediate term (meaning thru end of year) trade. If not, then watch for a resumption of trend, especially if $16.25 gets broken (back on top of) with volume.

    But if the last couple of sessions haven't made it abundantly clear there will probably be no fast movement in either direction. Consider only this basic fact. The equity action, the total volume, is much akin to the overall market volume. By that I mean most analysis have determined that upwards of what...75% (or more) of total volume is HFT/Algo churn? 75%. Think about that in the context of this equity. It means the majority of the action you see has little to no direct bearing on the equity/company fundamentals. It's driven by the desire for churn and all that it means to the churners. The game is different these days than from old. You must adjust your tactical game accordingly..

    Just some thoughts.

    Highlow
    American Net'Zen

  • Reply to

    Bottomless Pit

    by hucktwain Aug 27, 2014 3:04 PM
    highlowsel highlowsel Aug 27, 2014 5:28 PM Flag

    Yup....but Master does this with da Pooch. Go back and look at the Aug. 19/20 and you'll see a similar thing. I bit down on a trading tranche at ~$16.15 'cause the set-up's I tracked indicated a vastly oversold situation (on the two day chart). I didn't wait for sub $16.10. Here's the thing....less than 10 sessions back the bid was threatening to go south of $15.15, indeed $15. Now it's ended the day at $16.20. That ain't bad. Master is simply grinding the bid back down because with this equity that is what Master does. But overall the bias is still positive. Master is just playing the HFT/Algo game...it's what machines do. So...what to look for that would be indicative of more downside? Well...run the fib's from the ~$15.00 line, which is where it was before the DoJ news surged the bid, to Monday's ~$16.45 high area. Look at where the 38.2% retracement level sits. It sits at ~$16.10. That's the mark to watch. If it breaks then the slide will continue, probably back south of $16. If not, then watch for a resumption of trend, especially if $16.25 gets broken (back on top of) with volume. That's the set-up. The question, as always, is what will Master actually do? We'll have to watch and see.

    But regardless.....from the viewpoint of end of first quarter 2015 this is just noise...hopefully. ;-)

    Highlow
    American Net'Zen

  • Reply to

    A short term top has to be coming soon...

    by jphelps1511 Aug 27, 2014 12:38 PM
    highlowsel highlowsel Aug 27, 2014 1:28 PM Flag

    Well it's definitely overbought on a 10day chart....but this thing is stair-stepping higher and higher. Higher highs and higher lows almost every day. I won't stand in front of this train, from a tactical short perspective, until the set-up signals a change in trend. And right now no change seems imminent. In other words...ride the wave (dude - heh), ride the wave as far as you can.

  • Reply to

    Bid $16.29

    by highlowsel Aug 27, 2014 10:42 AM
    highlowsel highlowsel Aug 27, 2014 1:24 PM Flag

    Ooops..make that $16.46 downtrend line from yesterday...was looking at a 2day chart not a 1day.

  • Reply to

    Bid $16.29

    by highlowsel Aug 27, 2014 10:42 AM
    highlowsel highlowsel Aug 27, 2014 1:23 PM Flag

    Fragile: Bid continues to endures a sell side pounding here at $16.23. My WAG is Master is setting Poochie up to go back into the $16.teens. There has been zero change in the sell side tactic of continually overhanging the bid with +500K shares while hitting the bid or between the spread with all the action. In effect the overhang ask is there just as a place-marker...a "scare the bid further downward" standard operational tactic. It's one that.....just happens to work...especially on a low-volume day (for BAC) like today. I'm waving a bid down just south of $16.10 because I expect a revisit to the $16.teens to occur...and when such as this occurs it almost always results in an overshoot before a bounce-back. By the way, none of this alters my longer term positive outlook....only that until circumstances change there is zero need to chase this equity. The sell side game Master is running continues to dominate character of the intraday.

    Bid now $16.22 and continuing to absorb the action. On the intraday I see an operational change only when the bid breaks back on top of a intraday downtrend line I established at ~$16.46 with its second point at ~$16.37. The bid is being kept under that line...if it does so into close then the best case closing scenario for the bid is ~$16.25.

  • Reply to

    Bid $16.29

    by highlowsel Aug 27, 2014 10:42 AM
    highlowsel highlowsel Aug 27, 2014 11:56 AM Flag

    Go with waiting on the cheaper option. Set (in your mind) your best/worse pricing and track the bid accordingly. I continue to maintain being patient with this equity is the best course. Master remains in control, and Poochie ain't about to go running away from you.....in all honesty I don't really ever expect this situation to change, though longer term there's plenty of upside potential. There's just too many outstanding shares (float), and the HFT's, Algo's and the rest are like ticks firmly buried in Poochies ear....you'll not be gettin' 'em out short of a big reverse split or changes in the basic transactional policies of the institutions that, with their rebates and such, allow such a mess to continue to control and dictate the action....

    But it is what it is. All just my 2pennies worth, of course. Bid $16.27.

  • Reply to

    Bid $16.29

    by highlowsel Aug 27, 2014 10:42 AM
    highlowsel highlowsel Aug 27, 2014 11:15 AM Flag

    Yeppers. Back to the classic sell side tactic. If you want an education on controlled selling and pressure just watch the way the ask is being managed against the bid. It's a masterful performance piece you'll be watching....

  • highlowsel highlowsel Aug 27, 2014 11:13 AM Flag

    From what I'm seeing of what's going on with the ask on the intraday (classic tactical selling is engaged) I'd say the bid is more likely to test $16.20 than .40. Bid $16.27, under continuing pressure and that show on the ask keeps overhanging....

  • Reply to

    Bid $16.29

    by highlowsel Aug 27, 2014 10:42 AM
    highlowsel highlowsel Aug 27, 2014 11:00 AM Flag

    Bid $16.28. Master is very patiently pulling Poochie back closer (er) to heel. The show on the ask is staying high with most of the action either hitting the bid or in-between the spread. This is classic Master yank-down stuff....though there's no sense of panic in it. Just the usual slow, inexorable churn and grind....something Master is very good with where this equity is concerned...

  • highlowsel by highlowsel Aug 27, 2014 10:42 AM Flag

    Sell side churn and grind it down continues apace from yesterdays session starting high. With the bid dancing around $16.30 I suspect if .30 does not hold that it puts a close of the Monday upside gap on the table, meaning a possible yank to the ~$16.15 area....just watch that ask real-time and that'll give a clue on what Master is thinking....

  • Reply to

    Back to $16.38 - $16.40

    by fragilebill Aug 26, 2014 12:29 PM
    highlowsel highlowsel Aug 26, 2014 4:01 PM Flag

    The sell side spent all afternoon sitting on the bid in the mid $16.30's. Looks like the bid will close at $16.32. Marginally up but nothing impressive. No surprise there's no change in the churn and grind game. For all the bumping and grinding you could be forgiven for thinking you're at a......errrrr.....gentlemens club? ;-)

BAC
16.09+0.08(+0.50%)Aug 29 4:04 PMEDT

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