Monday, April 20, 2009

I bought it.

So this morning I pulled the trigger on what I felt was the bottom for the day of Bank of America (BAC). Atleast, I was near the bottom, didn't want to buy and see it go lower, so I bought a few cents off what I believe was the bottom ($9.74), I bought it for $9.86.

Note: Since I started typing I'm up nearly 1%, if it goes like this all day, I might keep writing :)

So here is today's stock pick:

Bank of America (BAC)
Current: $9.93
Intra-day Buy Point: Anything below $10
Intra-day Sell Point: $11.50


EDIT: I'm actually long on BAC, I think it's one of the few banks that, although it got itself in some serious trouble, it can repay the U.S. government, and become a strong banking company, and in the long run is very viable. I didn't type it back in January, but I was long BAC at $5.55, sure it dropped down to half of that value (and I probably would have sold for a loss had I been in the market at the time), but since I don't always take my own advice, that was advice that I did send out in an e-mail to a good friend of mine.

EDIT 9:30EST: 1 minute, and it's down $0.25, should I have seen this coming? probably. but I'm still Long BAC.

No comments:

Post a Comment