Replies to post #19084 on Bank of America Corp (BAC)

[YazM]

I've been playing the channel in and out and watch for a break either way. I will admit BAC is a good LT hold for anyone but I day trade so I don't go in anything for the long haul. In and out for quick profits with repeatedly shorting/covering and buying/selling all day every day with occasionally holding positions overnight. I agree it is a cash cow and this thing trades so obvious, it literally channels every day guaranteed in a .05 range. I short on top and buy on bottom. I've done it 4 times already today. Today's channel has been 14.20-14.25. Short at 24-25, cover then buy at 20-21. It will most likely break that channel at some point but normally doesn't move below or above .03 from the channel it's formed unless the market moves heavily or oil tips under LOD or above HOD.