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I'm looking for DOW around 12,600 and S&P around 1350 which should get BAC below 9. Keep in mind, this is just one guys opinion and with my style of investing, I’m always looking for the bargain, which often doesn't come to fruition. GLTY!
Gap is closing up nicely today. Looks like someone wants in ahead of earnings. GLTA!
I'm still looking for a breakdown around 9.14 (50 day MA) which should provide a buy opportunity near 8.75. IMO, if we see it could come and go quick. I have buy orders in at 9.06, 8.78 and 8.45. GLTY!
I have to agree. It currently looks like we bottomed at 16.71. I still have some dry powder in case we dip again.
SF,
Not debating, since I fundamentally agree with you; but if Virtra can get the share price up to the .50 level; a 20 for 1 RS would likely hold the stock price above $5 IMO.
Got another 1/3 of my position at 16.90 and have a buy order in for the last 1/3 at 16.55.
Looking at AH action, I think you are right. GLTY!
I'm back in. Not all in, but got 1/3 of my desired position at 17.24. GLTA!
Took 1/3 of my desired position at 8.33. Hoping to get more cheaper.
Thanks Teeroy,
Another nice find. Dahlgren obviously rubbed off on Pax River in a positive way. Very positive IMO.
Avocado,
You are reading the same chart I am. Every longgggg tailed hammer in the past has led to a significant ralley. Fingers crossed. I didn't get any of those 4s, but I did add a 200K between .51 and .56 over the last couple of weeks. GLTY!
I'm holding off for 17; or at least low 17s. GLTY!
I'm looking for another run to 11. GLTY!
That won't help to get the price down
If the close is strong and BAC closes above 9.50 and the DOW closes above 13,000; you may come to like that 9.33 buy a whole bunch. GLTY!
Kinda what I'm looking for. Crash down on the Obama win and launch back up on the Santa ralley. I'm eyeballing a few of the biggies on this dip (BA, AA, F). Hoping I get my price GLTY!
Good timing on your part. I wasn't convinced Obama was going to win, otherwise I would have likely sold some of my core holdings over the last couple of days. I did sell all my Jan14 leaps on the last couple of attempts at 10 so I have some cash to put to work. GLTU!
I wouldn't rush to buy. I think low 9 to 9.10 is highly probable. The major indices fell through some big support today. DOW 12,600 not out of the question, which should get you a buy opportunity on BAC in the 8.75 or lower range. Keep an eye on the VIC as a nother indicator. If it breaks above 20, big money will likely run it up to 25ish which will get us that DOW 12,600.
Disclosure: I'm already sitting on a large BAC position with dollar cost average under 6 factoring in recent profits on leaps. I've been patiently adding to my BAC position. Big money works this stock hard; so if you stay current on the MAs and support resistance levels, you can usually get good entries and exits if you have a long-term horizon. GLTY!
IMO, any thing we can get in the 8 to 8.40 range will be good for 20-25% over next few months and probably 100%+ over the next 18 months. GLTY!
Going to buy at 50 day MA (9.06) and hold some powder back in case it breaks down at the 50 day. Then IMO, we could easily see 8.75 or lower. GLTA!
Looking like the Obama win will help me get my price. Thinking we will get down in to the 66-67 range and will start buying there, but hold some powder in case we make it to 65. GLTY!
Getting closer GLTA!
Fantastic day! I hate the huge gap, but I'm loving the volume and price GLTA!
I'm hoping for a little market weakness to get BA down to the 65ish area to open a position. I'm thinking I will get some common and some in the money Jan 15 leaps. Any thoughts on the near term bottom?
I think we will see another run at 10 in the Dec and/or Jan time frame. The stocks forward progression will be limited until the global economy turns around, but IMO the current price and a little lower is a good entry for short term and long term play. GLTY!
I was hopeful for another dip in to the 8's, but it was a pretty strong finish today. We may not see it, but I think the overall market is still on shakey ground, so I recommend keeping a little dry powder. I actually have an open order at 8.80. GLTY!
Closing in on buy territory. I like between 8 and 8.40. GLTA!
IMO, the low 8s was a long shot. BAC has to fail at the 50 day MA to get down to that level. The market still isn't out of the woods yet. Keep an eye on the DOW 13000. It's a critical level near-term. A 2-3% downward correction ahead of Santa rally would be healthy. If it happens, BAC may test its 50 day MA which is currently sitting at 9, but up-trending. GLTY!
I am also looking for SWHC to beat on the next earnings release. I think your concern for 6+ months from now is valid. The next couple of earings reports should provide clarity. I bought back in on Thur and Fri. Paid 9.25 Thur and 9 on Fri. I will try and fill out my position today with some in the 8s. GLTY!
Locked down some profits; the markets going to take a breather. No catalyst for CHK near term; unless a buy-out tender.
There is strong support at 8.25 range and there is also an open gap in the same neighborhood. I think the DOW will have to break down at 13,000 for any hope of BAC getting down to 8.25. IMO, if the DOW breaks at 13,000 it probably won't catch support until 12,750 which could lead to BAC breaking down at 8.75 support level. If that happens, the BAC support is weak between 8.75 and 8.25. Bottom line, i'm not banking on a buy opportunity at 8.25. Will start extending at 8.75 and hold back dry powder if things get worse. An Obama election win and/or an Israeli strike are two probable catalyst near term that could create some nice buying opportunities, plus the market is getting a little tired in view of global economic weakness. GLTY!
Joined the MIMV crowd yesterday with 20K at .37. Will try and double down on market weakness today. GLTA!
Closed my position on Monday, looking to re-enter around 9.25 to 9.30. GLTA!
Thanks BridgeBuilder,
You caused me to reassess the TA. I had a buy order in for 500 at 9.95; 1000 at 9.75 and another 1000 at 9.65. Looking at today's futures and my reassessment, I changed the orders to 1000 at 9.76 and 1500 at 9.65.
Looking to get some Jan 15, $25 leaps for around $3. Hoping near-term market weakness and Win-8 negative sentiment pushes the MSFT common down to around 26. GLTA!
I'm getting ready to start building a F position. IMO, we will see continued market weakness near-term and I'm looking for the DOW to dip to 13,000 and possibly as low as 12,750. Plan to start buying F between 9.95 and 9.65. Not sure if we will get down to 9.65, but there is an open gap between 9.62 and 9.66 that may get filled. GLTA!
IMO, a market correction on the DOW to 13,000, possibly as low as 12,750, is looking more probable. I will be looking for an opportunity to extend my long-term holdings on BAC between 8.75 and 8.25. Not sure where we will find the bottom, but I see strong support around 8.25 with weaker support kicking in at 8.75. GLTA!
Apologize for the spam, I see this originally aired in May 2011.
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