Tag Archives: BAC

Frankly, We Don’t Give a Damn About News

Why didn’t Bank of America’s stock go to the moon after reporting fourth quarter beat the earnings expectations?  Not only it beat the earnings expectations, BAC also provided very rosy outlook for the first quarter of 2017.  The market didn’t care.  It was promptly sold off against a prior cycle high. 

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Short $BAC Right NOW-Weekly Cycle Top Is In

Sell market order short $BAC NOW, stop loss 23.41. Market order filled @ 23.22 at 10:20am. The weekly cycle top is in @23.41.  Downside target is 19.82-20.00.  We are long term bullish with BAC, but a correction is healthy for it to resume the move.  The anticipations of good earnings have baked in the price.  Today it ran up to 23.41 in a hurry and was promptly sold off from there. 

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Member Blog – BAC Multi-Year 2009-2016 Breakout

BAC was a major casualty of the post financial crisis in 2009.  BAC purchased Countrywide Mortgage for 2 billion dollars.  The total fines BAC  paid to the various government/regulatory agencies was around 50 billion dollars.  BAC has been lagging in the banking sector.  BAC’s vast banking branches collected handsome amount deposits.  In a rising interest and less regulatory environment, BAC should perform. 

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