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Tuesday, November 9

Bank Of America technicals

Bank Of America is in play again now that it has retraced its latest rally by almost 30% already.

I will add more into my BAC position at $12.2

And another set at $11.80

It’s about time to accumulate more financials.

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---> With regards to market correction, it will be a small 2 – 5% market correction. More investors at the sidelines will come in.

The mood has changed so much, but I will not buy stocks that have appreciated 50% since September, rather I will look for the cheaper ones such as Financials that have only gone up by 10%.

I think there will be a market consolidations where laggards like BAC and JPM will climb upwards while strong leaders may start to correct…

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A nasty robbery took place around my neighborhood.

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This is 185 Bleecker Street.

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2 comments:

Unknown said...

Maybe you buy BAC @ 10.88 as you said before two weeks ago.

dragon said...

Hi tolits... I hope I can, but it seems that the correction is hard to come with this QE2... and financials are still undervalued.

I already got in BAC at $11.3, $11.5... and some more at $11.8.

I have sold some lately when u closed ur positions of BAC at around $12.6

I reentered at $12.25 and will add more at $11.8

It's all trading i guess.

Tell me ur next good pick.

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