Bank of America Corp (BAC)

[Portguyofva]

Thanks cjames,
Despite playing this game for about 20 years, I still feel like a rookie every time a start a new position. BAC and I are getting to be old friends. This is the 4th time I have played BAC long since 2009. Two of those were grand slams (100%+) and the other was a 30-40% loss. I'm holding some shares at $8.50ish, so don't feel bad about your entry point. If you’re able to average down before the next run, it will serve you well. There are no guarantees in the stock market, but I am banking on BAC running up again before this year is out. A couple of lessons I've learned the hard way:

- On value plays; never enter the stock all at once, unless you have a crystal ball for picking the bottom. I always take my positions in 3rds or even smaller fractions.
- Learn how to use covered calls and puts to protect your investment, especially with volatile stocks like BAC.
- The market is your friend or enemy, no matter how good the stock, unless you’re playing penny stocks where 9 out of 10 are just a gamble, and they play by their own rules.
GLTY!