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  1. #1
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    Is Bank of America Stock Gonna Trade Under $5 ?

    Whoa. The big funds may not be able to margin their position. At what price does the stock become a "pound the table buy ?"



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  2. #2
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Well...about a week or so ago when it was around $6.20 I sold some $6.00 Feb puts for $.80. My thoughts were that the upper 5's would be the bottom and that I'd be ok owning more stock at $5.40. Shows what I know!

    This is all about Europe and of course still the mortgage mess, but with money being almost free banks are making money hand over fist. I can't see it going below $5, but then again....


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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Too much countrywide mortgages and euro bond junk for it to be stable. Sell.


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  4. #4
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    I don't see it being stable for a long time. But they're not going to let the pig fail, are they? Even with more dilution, it's gotta be a home run 10 years from now, doesn't it?


    Walking on water is easy. Just do it in December when it's frozen.

  5. #5
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    How much bad mortgages can still be on the books? Now Euro bonds is another thing

    Not that it matters, because most financials have been trading under book value for a while, but this company has assets valued at >$7 / sh.

    I think selling puts is ok cuz you collect the premium and better for for high price stocks. But this is looking like a good deal if you can hold till Obama loses nest Nov


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  6. #6
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    I don't think there are all that many, but in some of the worst markets, foreclosures are still hitting with prices not expected to bottom till next summer. I think the bigger issue is if there is any (or how much) liability because of robosigining, etc. I think the Europe exposure is an unknown at this point, and it's weighing heavily. At these levels, if one is willing to hold on till Obama is gone, it's probably a good time to buy a call or the common. Last time it looked like Europe was resolved the stock spiked over $1.00 per share. The biggest money is made when uncertainty is greatest.


    Walking on water is easy. Just do it in December when it's frozen.

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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Derivatives could also eat their profits. If they go lower, funds have to drop them.


    CFH HMagic bball season next year.
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  8. #8
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Dump the stock? If so, some have rules about buying under $5, but I'm not aware of any who have to sell if it happens. But that doesn't mean that redemptions couldn't make them sell.


    Walking on water is easy. Just do it in December when it's frozen.

  9. #9
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    It finally happened....and on huge volume. Oh how the mighty have fallen.




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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Waiting for JP Morgan to get below 30 again. This will be the third time I've bought it this year.



  11. #11
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Quote Originally Posted by dmclone View Post
    Waiting for JP Morgan to get below 30 again. This will be the third time I've bought it this year.
    It's not even oversold (like those other times), on a stochastic chart.


    "We are first and foremost an educational institution that values integrity, honesty and treating others with fairness and respect".

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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    bac has problems.


    I was a victim of a series of accidents, as are we all.

  13. #13
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Quote Originally Posted by usedcarguy View Post
    At these levels, if one is willing to hold on till Obama is gone, it's probably a good time to buy a call or the common. Last time it looked like Europe was resolved the stock spiked over $1.00 per share. The biggest money is made when uncertainty is greatest.
    Congrats, you just put this thread in the cave.

    Obama isn't going anywhere. Republicans suck as a group, and the only candidates that could possibly beat Obama don't have a prayer of getting the nomination. The entire party has moved so far to the right, Reagan would be a big-time liberal if he were running today.



  14. #14
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    bac has problems. hugs has a problem.


    I was a victim of a series of accidents, as are we all.

  15. #15
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    Re: Is Bank of America Stock Gonna Trade Under $5 ?

    Bank of American would not be solvent on its own, so you're basically betting on whether or not that they will be saved by the government.



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