Ok fellas, BAC has dropped over 20% this week alone. I wanted to get a poll going with perhaps 4 different options.. obviously you can choose your own option as well but here are my thoughts.'
A) Set Buy price of 10.57/share of 48 shares of BAC, essentially pocketing our profit and being back where we started.
B) Set Buy Price of $10.57/share for 24 shares of BAC, and then watching it to see if it falls further so we can average our costs down on the next 24 shares of BAC.
C) Wait till BAC drops another 10% (putting it around $10/share) till we make our next purchasing decision to see if it will continue dropping.
D) Set Buy price at current market rates in order to "get back into the game" and not miss the boat. Doing this will essentially pocket some profits from our sale at $11.80 and at the same time regain our 48 shares for about $40 less than we sold them for a week ago.
E) Your own thoughts.
I will hold back my opinion until after we hear some votes..
12 comments:
.... Just testing this thing where you put comments on out. Test. Test. Test.
I vote C.
Today is gonna be a blood bath.
9.50 sounds like a good price.
I feel like a bag of crushed apples....
WTF
With BAC dropping back under $11, have we agreed upon a re-up price?
$10?
I say we buy it back at $10.57, pocket the profits and go from there. If it keeps dropping we can average down - no need to be greedy.
i vote to buy at $10.57 as well.
So 10.57?
Should I put in the order?
Any objections?
I just F-ing wrote a reply and it didn't process and of course it didn't save. At any rate, the spike in BAC today has brought us back to where we were two weeks ago. When commission is factored in, would rebuying at the current market price wipe out our BAC profits?
If we learned a lesson from the shorts in this realm before, it's that they feast on BAC and then eat away at it the back end of the week. Perhaps we set a buy of $9.90/s in anticipation that the 10% growth we see today will be carved out by week's end? Well, do you all feel that we should rebuy BAC with all the money we pulled out of it? This feels like a bigger decision than simply choosing a letter.
To be honest - this whole BAC business is begining to wear on me. I'm sick of watching it go up then down, up then down. I'm assuming everyone here is on board with getting back in the game right? So lets agree with a re-up price and sit on the stock for a while - i'm talking long term, 1 yr plus. Maybe then we can focus our efforts and research on some other stocks...
I would prefer not to buy it any higher than 10.57 simply on principle, but i'm not going to loose sleep if we pick it up for 10.8 or 10.9.
So BAC is dipping like Mikey and Jim on Southeast Street in '01. We're a half dollar away from the voted-upon $10.57/s. Was my motion of $9.90/s in vain? You're so vain, you probably think this post is about you.
We're due to meet again live during the first week of July. I don't think we've met live since our inaugural sit down on Cedar Street in May of last year. Can we pin down a day now to try an avoid inevitable scheduling conflicts? I can host unless you guys don't want to come down. I'm down to take a ride to Boston too, but I'm simply putting it out there if no one else wants to open up shop. At that point, I'll have the yard fenced in and we can have the first TM:K9 meeting!
I for one think we should just grab back our initial stake at $10.57 so we can sleep at night knowing we got back our position. However there is always a chance to average further down our position if it drops more. Here's an interesting, bearish, snyopsis on BAC - http://www.fool.com/investing/value/2009/05/26/2-star-stocks-poised-to-plunge-bank-of-america.aspx
BACk in the game boys..
10.57
lets see if we can go a week now without talking about BAC?
Hello fellow traders..
This AM our trade was executed at $10.57/share for BAC. We are back in our original position, and have profited from our sale in the meantime. I hope everyone can now rest easy in our decision to sell at $11.80, turn a profit, and enter back into our position into America's strongest bank (hopefully).
Good job everyone - patience paid off and it was a good decision to execute the trade like we did.
(now if we had just done the same for HNT we'd be buying that back right now too!)
Post a Comment