Bank of America Corp (BAC)

[dmlabuda]

You asked about BAC. A brief look at the chart tells me that we still have downtrend here even though the price broke the 200 day MA and returned and supported there, it looks really weak now and I think it will return to the 200 day and perhaps fail support there. It's all conjecture on my part because I'm not following this stock but, I've seen similar chart pattern in the past. However, if you look at the hourly chart (link below) I can see how in the microcosm we have developed what appears to be a strong uptrend so, if the market finds support now along that trendline and then rallies to new high, then I believe there is a good chance that BAC will continue higher for a while. http://stockcharts.com/h-sc/ui?s=BAC&p=60&yr=0&mn=1&dy=0&id=p13082108161&a=270117759&listNum=4

I trade on all the US markets but, my primary focus, like yours, is stocks trading below $5.00/share I like to trade 10,000 share blocks for short swings and I try to take an average of $1,000/day out of the market. If you follow a lot of stocks and trade only the best high probability trades, it's really not that difficult to do.