Replies to post #20163 on Bank of America Corp (BAC)

[The Pup]

"Solid support",..yes, it is there as BAC has "legs". That is what makes it so interesting as a day traded Stock.
Check out the charts for the past two weeks for example.
Support /resistance levels very close in terms of the "channel" in which BAC is being kept. The HFT exchanges love BAC. strong Stock with solid support, easy to trade and a cash cow for the HFT exchanges and those funds that use them.So, they keep the PPS low in relation to strength in sector, and it's short, buy, sell, short, buy sell, etc. A .03 per share per trade regardless of direction is very attractive to any large block trader. Just do the math on say 50,000 shares ! Not complaining, just fact for some newbies who may be here.
So, how does BAC get its' PPS onward and upward. Easy solution given the forthcoming rate increases and the riddance of Dodd-Frank. BUY BACK MANY,MANY MORE SHARES!! Still approx. 10 Billion or so outstanding. C for example has about 1/3rd of that.