Page 1 of 2 12 LastLast
Results 1 to 15 of 16
  1. #1
    Hall-Of-Famer
    Points: 71,782, Level: 83
    Level completed: 20%, Points required for next Level: 1,368
    Overall activity: 21.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    4,988
    Points
    71,782
    Level
    83
    Thumbs Up
    Received: 48
    Given: 75

    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: 52,804, Level: 71
    Level completed: 17%, Points required for next Level: 1,246
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,689
    Points
    52,804
    Level
    71
    Thumbs Up
    Received: 18
    Given: 32

    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: 395,965, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 100.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    58,036
    Points
    395,965
    Level
    100
    Thumbs Up
    Received: 430
    Given: 305

    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: 52,804, Level: 71
    Level completed: 17%, Points required for next Level: 1,246
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,689
    Points
    52,804
    Level
    71
    Thumbs Up
    Received: 18
    Given: 32

    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
    Hall-Of-Famer
    Points: 71,782, Level: 83
    Level completed: 20%, Points required for next Level: 1,368
    Overall activity: 21.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    4,988
    Points
    71,782
    Level
    83
    Thumbs Up
    Received: 48
    Given: 75

    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: 52,804, Level: 71
    Level completed: 17%, Points required for next Level: 1,246
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,689
    Points
    52,804
    Level
    71
    Thumbs Up
    Received: 18
    Given: 32

    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: 395,965, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 100.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    58,036
    Points
    395,965
    Level
    100
    Thumbs Up
    Received: 430
    Given: 305

    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: 52,804, Level: 71
    Level completed: 17%, Points required for next Level: 1,246
    Overall activity: 1.0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,689
    Points
    52,804
    Level
    71
    Thumbs Up
    Received: 18
    Given: 32

    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
    Hall-Of-Famer
    Points: 71,782, Level: 83
    Level completed: 20%, Points required for next Level: 1,368
    Overall activity: 21.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    4,988
    Points
    71,782
    Level
    83
    Thumbs Up
    Received: 48
    Given: 75

    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: 204,572, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 21.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points
    dmclone's Avatar
    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,412
    Points
    204,572
    Level
    100
    Thumbs Up
    Received: 233
    Given: 336

    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
    Hall-Of-Famer
    Points: 71,782, Level: 83
    Level completed: 20%, Points required for next Level: 1,368
    Overall activity: 21.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    4,988
    Points
    71,782
    Level
    83
    Thumbs Up
    Received: 48
    Given: 75

    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: 57,703, Level: 74
    Level completed: 44%, Points required for next Level: 847
    Overall activity: 7.0%
    Achievements:
    Veteran50000 Experience Points
    kilgore_trout's Avatar
    Join Date
    Nov 2006
    Location
    Madison, WI
    Posts
    2,190
    Points
    57,703
    Level
    74
    Thumbs Up
    Received: 97
    Given: 484

    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: 57,703, Level: 74
    Level completed: 44%, Points required for next Level: 847
    Overall activity: 7.0%
    Achievements:
    Veteran50000 Experience Points
    kilgore_trout's Avatar
    Join Date
    Nov 2006
    Location
    Madison, WI
    Posts
    2,190
    Points
    57,703
    Level
    74
    Thumbs Up
    Received: 97
    Given: 484

    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: 728,959, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 55.0%
    Achievements:
    SocialVeteranCreated Album pictures50000 Experience PointsOverdrive
    Cyclonepride's Avatar
    Join Date
    Apr 2006
    Location
    A pineapple under the sea
    Posts
    47,232
    Points
    728,959
    Level
    100
    Thumbs Up
    Received: 1,162
    Given: 602

    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: Fox Sports 1
  • Iowa State vs. Kansas State
  • September 6, 2014
  • 11:00 AM