Page 1 of 2 12 LastLast
Results 1 to 15 of 16
  1. #1
    Addict
    Points: 72,593, Level: 83
    Level completed: 68%, Points required for next Level: 557
    Overall activity: 9.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,034
    Points
    72,593
    Level
    83
    Thumbs Up
    Received: 84
    Given: 115

    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 ?"



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

    -ISU President Gregory Geoffroy; circa May 2003.

  2. #2
    Hall-Of-Famer
    Points: 52,946, Level: 71
    Level completed: 27%, Points required for next Level: 1,104
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,700
    Points
    52,946
    Level
    71
    Thumbs Up
    Received: 25
    Given: 64

    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....


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

  3. #3
    Speechless
    Points: 400,543, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 32.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    59,262
    Points
    400,543
    Level
    100
    Thumbs Up
    Received: 604
    Given: 389

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

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


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  4. #4
    Hall-Of-Famer
    Points: 52,946, Level: 71
    Level completed: 27%, Points required for next Level: 1,104
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,700
    Points
    52,946
    Level
    71
    Thumbs Up
    Received: 25
    Given: 64

    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
    Addict
    Points: 72,593, Level: 83
    Level completed: 68%, Points required for next Level: 557
    Overall activity: 9.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,034
    Points
    72,593
    Level
    83
    Thumbs Up
    Received: 84
    Given: 115

    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


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

    -ISU President Gregory Geoffroy; circa May 2003.

  6. #6
    Hall-Of-Famer
    Points: 52,946, Level: 71
    Level completed: 27%, Points required for next Level: 1,104
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,700
    Points
    52,946
    Level
    71
    Thumbs Up
    Received: 25
    Given: 64

    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.

  7. #7
    Speechless
    Points: 400,543, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 32.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    59,262
    Points
    400,543
    Level
    100
    Thumbs Up
    Received: 604
    Given: 389

    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.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  8. #8
    Hall-Of-Famer
    Points: 52,946, Level: 71
    Level completed: 27%, Points required for next Level: 1,104
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,700
    Points
    52,946
    Level
    71
    Thumbs Up
    Received: 25
    Given: 64

    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
    Addict
    Points: 72,593, Level: 83
    Level completed: 68%, Points required for next Level: 557
    Overall activity: 9.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,034
    Points
    72,593
    Level
    83
    Thumbs Up
    Received: 84
    Given: 115

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

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




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

    -ISU President Gregory Geoffroy; circa May 2003.

  10. #10
    Legend
    Points: 208,326, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 27.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points
    dmclone's Avatar
    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,627
    Points
    208,326
    Level
    100
    Thumbs Up
    Received: 310
    Given: 478

    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
    Addict
    Points: 72,593, Level: 83
    Level completed: 68%, Points required for next Level: 557
    Overall activity: 9.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,034
    Points
    72,593
    Level
    83
    Thumbs Up
    Received: 84
    Given: 115

    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".

    -ISU President Gregory Geoffroy; circa May 2003.

  12. #12
    Pro
    Points: 57,799, Level: 74
    Level completed: 50%, Points required for next Level: 751
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Nov 2006
    Location
    Madison, WI
    Posts
    2,190
    Points
    57,799
    Level
    74
    Thumbs Up
    Received: 99
    Given: 487

    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
    Hugs4ISU
    Guest

    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
    Pro
    Points: 57,799, Level: 74
    Level completed: 50%, Points required for next Level: 751
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Nov 2006
    Location
    Madison, WI
    Posts
    2,190
    Points
    57,799
    Level
    74
    Thumbs Up
    Received: 99
    Given: 487

    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
    Speechless
    Points: 736,280, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 83.0%
    Achievements:
    SocialVeteranCreated Album pictures50000 Experience PointsOverdrive
    Cyclonepride's Avatar
    Join Date
    Apr 2006
    Location
    A pineapple under the sea
    Posts
    47,892
    Points
    736,280
    Level
    100
    Thumbs Up
    Received: 1,527
    Given: 727

    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.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: TBD
  • Iowa State vs. Oklahoma
  • November 1, 2014
  • 07:00 PM