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sell4u_IHB

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This stock has been beatin to death in the last week, down about 20% today - trading right around $8

Any buyers out there around $8?...
 
sell4u said:
This stock has been beatin to death in the last week, down about 20% today - trading right around $8

Any buyers out there around $8?...
Click to expand...

If you want to gamble yes...

Personally, a lost opportunity for me. I had a handful of Jan 12.50 puts on this sucker I bought in December. Just recently they were trading around 15 a share...my puts were down about 80%...I eventually sold for a loss since Jan is expiring around the corner...I blew it...now its at 8. Would have been up about 200-300%...I'm a bit bitter about it.
 
blackvault_cm said:
sell4u said:
This stock has been beatin to death in the last week, down about 20% today - trading right around $8

Any buyers out there around $8?...
Click to expand...

If you want to gamble yes...

Personally, a lost opportunity for me. I had a handful of Jan 12.50 puts on this sucker I bought in December. Just recently they were trading around 15 a share...my puts were down about 80%...I eventually sold for a loss since Jan is expiring around the corner...I blew it...now its at 8. Would have been up about 200-300%...I'm a bit bitter about it.
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true - i realizing I'm playing with fire here...

then again 1 out of 2 americans bank with b of a

not to say that the gov't can wipeout shareholder equity, because they certainly could, but there's no way they would let b of a fail (too big to fail)...

my brother trades, he says there's put activity all the way down to $4/$5, if this stock gets to $5, i might be a buyer...
 
When I went to open some accounts at Navy FCU yesterday, I was told that I was the 3rd person that week to come in with a check from B of A to open new accounts.
 
This Equity is on deathwatch. Shareholders getting screwed.

Lack of disclosure on the Merrill deal is killing this stock.

Big cracks in the Banking System with BofA and Citi heading for the toilet.

We could be seeing the Nationalization of American Banking

taking place here.
 
Why are you contemplating buying it at $5 or at $8? What if it was at $1? Would you buy it then?

Is your goal speculation or investing?

EDIT: I guess when I re-read your comment about too big to fail and 1 out of 2 americans have BofA tells me that your goal is investing since you are trying to weigh the positives and possibilities of the company. Speculation is all about the moment and technicals...do I think it goes up tomorrow or down...plain and simple.

Since your goal is investing I would ask yourself what do you expect to return and over how many years assuming BofA survives. 5% over 30 years? or 8% over 50? To me personally it doesn't matter if the stock is trading at 5, 10, 100, or 1M a share. They are a bad company and lower price doesn't justify buying a bad company. I mean is your logic that if it hits $5 a share the company is now good? Wouldn't you rather buy a company like Exxon at 75 a share? Or Wal-Mart at 53?

Many thought that BofA was cheap at $30...many also thought that Goldman was cheap at 115 even Warren Buffet.

If its speculative...then who cares how many customers it has...simply decide if right now is a good entry and what is your exit point...but if you do that, use option contracts and leverage...
 
caycifish said:
When I went to open some accounts at Navy FCU yesterday, I was told that I was the 3rd person that week to come in with a check from B of A to open new accounts.
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What qualifies someone to be a part of this CU?
 
The only way I would touch anything in the financials is if I had an in with ppl in high gov and the FED. No technicals or fundementals exist in this sector right now, just gambling.
 
upperlowerclass said:
The only way I would touch anything in the financials is if I had an in with ppl in high gov and the FED. No technicals or fundementals exist in this sector right now, just gambling.
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And the accounting for financials is a black hole of opacity.
 
I think Bank of America moved up it's reporting date (tomorrow @ 7AM) and demanded more bailout money ($15B in cash, $150B in backstop financing) because it's going to face a bank run as soon as the news hits. Rather than report as normal on 1/20/09 (Obama's first day) and risk a bank run that closes them before the Fed can arrange a rescue, they are reporting on a Friday, with a whole weekend for the bad news to sink in and further rescue efforts to be arranged while Bush, Paulson, and Bernanke are still the ones holding the purse strings.

I have no inside knowledge, so keep in mind this is only my speculation.
 
Trooper said:
Oscar, you are making me want to take my $$ out of B of A right now.....

Cayci, did you close your B of A acct?
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Your money is safe. Of the four banks "In da Club" (aka the ones the Federal Reserve will NOT allow to fail) BoA is the charter member. Equity holders...........not so much.
 
Trooper said:
Oscar, you are making me want to take my $$ out of B of A right now.....

Cayci, did you close your B of A acct?
Click to expand...
Joint effort to assist B of A

Trooper, I'm not telling you what to do. I will tell you what I am doing: At 4am Pacific, I will be glued to CNBC to catch their earnings report. Unless it contains language that makes me think otherwise (doubtful), I am pulling all my cash and savings out and moving it to another of my 4 banks. As Monday is a holiday, I am not willing to risk waiting until Tuesday to see what happens over the weekend.

Once that is done, I am going to go shopping for the basics: rice, beans, pastas, canned veggies and fruits, flour, sugar, frozen concetrates, and truly obscene amounts of toilet paper.
 
no_vaseline said:
Your money is safe. Of the four banks "In da Club" (aka the ones the Federal Reserve will NOT allow to fail) BoA is the charter member. Equity holders...........not so much.
Click to expand...

At this point I'm not worried about their survival, I'm worried about access. Bank holidays put my grandmother in a world of hurt. She's been gone for a while but her memories (and their lessons) live on.
 
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