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gmh1013 · 20 December 2011, 05:20 AM

Is about 5 dollars today.....I may break my promise to stay out the market and buy some if it drops much lower....
and the end of SAAB.....sad day

MonBK · 20 December 2011, 05:30 AM

Can't wait for the end of BA.

conrail · 20 December 2011, 05:40 AM

Too bad about Saab - although they say the alternative was a recent acquisition potential by China... I think it was time to put the old glorious, but sick, lion out of its misery unfortunately.

wantonebad · 20 December 2011, 05:54 AM

I bought BofA at 3.49 three years ago. I may buy more

gmh1013 · 20 December 2011, 06:02 AM

Quote:

Originally Posted by wantonebad

I bought BofA at 3.49 three years ago. I may buy more

It dropped to about 2.50 one day (2009).....I would love to see it in that range again

77T · 20 December 2011, 06:18 AM

Quote:

Originally Posted by wantonebad

I bought BofA at 3.49 three years ago. I may buy more

I got it at 4.15 back then - sold at 12. Nice gain then.

Currently no bailout coming and BAC isn't considered "too big to fail" this time around. The regionals seem better off to me.

77T · 20 December 2011, 06:20 AM

Quote:

Originally Posted by gmh1013

It dropped to about 2.50 one day (2009).....I would love to see it in that range again

Maybe in intraday, but it's never closed below 3.14 (week of Mar. 2, 2009)

azguy · 20 December 2011, 06:22 AM

Just because it's $5 doesn't mean you can't lose 100% on it-

As a professional that has done this for 22 years I would not touch BAC at this or any price. From our research it could easily trade in the $2.5-3.5 range for many years.

Always buy the best stock in any sector, that would be Wells Fargo or play all of the financials with the ETF "XLF"

wantonebad · 20 December 2011, 06:28 AM

Quote:

Originally Posted by azguy

Just because it's $5 doesn't mean you can't lose 100% on it-

As a professional that has done this for 22 years I would not touch BAC at this or any price. From our research it could easily trade in the $2.5-3.5 range for many years.

Always buy the best stock in any sector, that would be Wells Fargo or play all of the financials with the ETF "XLF"

You're not wrong, but I still may buy more.

gmh1013 · 20 December 2011, 06:29 AM

Quote:

Originally Posted by azguy

Just because it's $5 doesn't mean you can't lose 100% on it-

As a professional that has done this for 22 years I would not touch BAC at this or any price. From our research it could easily trade in the $2.5-3.5 range for many years.

Always buy the best stock in any sector, that would be Wells Fargo or play all of the financials with the ETF "XLF"

My wife retired from WFC after 27 years....lucky to have lots of options still and stock left.

77T · 20 December 2011, 06:36 AM

Quote:

Originally Posted by azguy

Just because it's $5 doesn't mean you can't lose 100% on it-

As a professional that has done this for 22 years I would not touch BAC at this or any price. From our research it could easily trade in the $2.5-3.5 range for many years.

Always buy the best stock in any sector, that would be Wells Fargo or play all of the financials with the ETF "XLF"

Truer words were never said...

You know the Basel III liquidity ratios impact, and the private placement rules B-H put in their deal to buy the 50K ...

BAC must float more shares this week or be in out of compliance with them.

JUSTROLEXES · 20 December 2011, 06:56 AM

If you're buying short term stay out of the game and if you're buying long this is the time to do it.
that is only my opinion

Dan2010 · 20 December 2011, 09:35 AM

I made a bunch of money last year on Bank of America. Stock tripled from what I paid for it.

esspee1200 · 20 December 2011, 10:21 AM

bofa looks enticing due to current prices based technically on it's 5yr chart. there are many banks that are in the same technical range. if someone is looking to get in on a bank stock, i would take a look at the XLF or banks with a low p/e; meaning that they are making money. perhaps a Goldman hitting near a 52 week low. just my 2 cents. no pun intended. cheers guys.

Darlinboy · 20 December 2011, 11:53 AM

I dumped BofA a few years back, both their stock and my business accounts. They have really lost sight of their customers IMHO.

If you can make some $$$ on the stock, more power to you. They've got a lot of work to do to be successful again.

Cato · 20 December 2011, 02:19 PM

I just picked up some BAC.

If you see me posting pics of a new DayDate, you'll know I made some coin!

Ed Rooney · 20 December 2011, 03:25 PM

I got it under $3 in 2009. Not risking it again.

jasonclark · 20 December 2011, 03:42 PM

Quote:

Originally Posted by azguy

I would not touch BAC at this or any price.

beowulf566 · 21 December 2011, 12:09 PM

Quote:

Originally Posted by MonBK

Can't wait for the end of BA.

Same here!

sea-dweller · 21 December 2011, 02:40 PM

The market (at the moment) has valued it at $5, there's reasons why. You can either take a chance and buy, or stay away.

I have been burned by so called bargains in the past, but have also made a few $ in the past.

My call right now - stay away from BofA.

hdrazor251 · 21 December 2011, 03:42 PM

B of A is a gamble, not an investment. If you can't get to Vegas or an Indian casino B of A is a viable alternative.

Oyster Junkie · 25 December 2011, 08:15 AM

Quote:

Originally Posted by hdrazor251

B of A is a gamble, not an investment. If you can't get to Vegas or an Indian casino B of A is a viable alternative.

crew · 25 December 2011, 11:13 PM

Quote:

Originally Posted by hdrazor251

B of A is a gamble, not an investment. If you can't get to Vegas or an Indian casino B of A is a viable alternative.

Agreed. Just because it is cheap doesn't make it a buy.

77T · 26 December 2011, 05:05 AM

Like replica watches, it is a "replica equity". No technical definition for that description - if they sell some assets (likely soon) and get out of the bad loans unscathed (less likely) - then they will be liquid. Otherwise it will be a bankruptcy soon i fear. The ratios and lack of confidence among experts is a tell.

ducatidoc · 26 December 2011, 05:23 AM

I bought Citi at $3.15 about two years ago. Still waiting.

77T · 26 December 2011, 05:29 AM

We doubled on C in 2009, and almost tripled on BAC, too. But they were admittedly gambles then and even more so now. Never put more than 5% of cash into them - it worked out then.

20 December 2011, 05:20 AM	#1
gmh1013 Banned Join Date: Jun 2008 Real Name: greg Location: Tempe AZ Watch: GMT Posts: 5,703	Bank of America stock Is about 5 dollars today.....I may break my promise to stay out the market and buy some if it drops much lower.... and the end of SAAB.....sad day

20 December 2011, 05:40 AM	#3
conrail "TRF" Member Join Date: Sep 2010 Location: Boston Posts: 3,177	Too bad about Saab - although they say the alternative was a recent acquisition potential by China... I think it was time to put the old glorious, but sick, lion out of its misery unfortunately. __________________ "Oh, you give a f****' aspirin a headache, pal!"

20 December 2011, 05:54 AM	#4
wantonebad 2024 SubLV41 Pledge Member Join Date: Nov 2007 Location: USA Watch: 126600, 116500LN Posts: 12,849	I bought BofA at 3.49 three years ago. I may buy more __________________ "I'm kind of a big deal... on a fairly irrelevant social media site that falsely inflates my fragile ego"

20 December 2011, 06:56 AM	#12
JUSTROLEXES ⭐⭐⭐⭐⭐ 2024 SubLV41 Sponsor & Boutique Seller Join Date: Jul 2009 Real Name: Tony Geha Location: San Diego, CA Watch: Yacht-Master Posts: 51,120	If you're buying short term stay out of the game and if you're buying long this is the time to do it. that is only my opinion __________________ Instagram @JustRolexes 2FA security active

20 December 2011, 11:53 AM	#15
Darlinboy 2024 SubLV41 Pledge Member Join Date: Apr 2011 Real Name: DB Location: :noitacoL Watch: :hctaW Posts: 6,703	I dumped BofA a few years back, both their stock and my business accounts. They have really lost sight of their customers IMHO. If you can make some $$$ on the stock, more power to you. They've got a lot of work to do to be successful again. __________________ Lorem ipsum dolor sit amet, consectetur adipiscing elit.

20 December 2011, 05:30 AM	#2
MonBK Banned Join Date: Nov 2010 Location: Kingstown Posts: 58,279	Can't wait for the end of BA.

20 December 2011, 06:22 AM	#8
azguy Banned Join Date: Sep 2011 Real Name: ------- Location: ------- Watch: --------- Posts: 12,609	Just because it's $5 doesn't mean you can't lose 100% on it- As a professional that has done this for 22 years I would not touch BAC at this or any price. From our research it could easily trade in the $2.5-3.5 range for many years. Always buy the best stock in any sector, that would be Wells Fargo or play all of the financials with the ETF "XLF"

20 December 2011, 09:35 AM	#13
Dan2010 "TRF" Member Join Date: Apr 2010 Location: South Carolina Watch: Panerai 914 Posts: 6,540	I made a bunch of money last year on Bank of America. Stock tripled from what I paid for it.

20 December 2011, 10:21 AM	#14
esspee1200 "TRF" Member Join Date: Jun 2008 Location: Silicon Valley Posts: 593	bofa looks enticing due to current prices based technically on it's 5yr chart. there are many banks that are in the same technical range. if someone is looking to get in on a bank stock, i would take a look at the XLF or banks with a low p/e; meaning that they are making money. perhaps a Goldman hitting near a 52 week low. just my 2 cents. no pun intended. cheers guys.

20 December 2011, 02:19 PM	#16
Cato Banned Join Date: Oct 2008 Location: Land of the Lost Watch: 116610LN Posts: 2,201	I just picked up some BAC. If you see me posting pics of a new DayDate, you'll know I made some coin!

20 December 2011, 03:25 PM	#17
Ed Rooney "TRF" Member Join Date: Aug 2007 Location: Annapolis, MD Watch: Sea-Dweller 16600 Posts: 5,081	I got it under $3 in 2009. Not risking it again.

21 December 2011, 02:40 PM	#20
sea-dweller "TRF" Member Join Date: Oct 2007 Real Name: Dennis Location: Bay Area - 925 Posts: 40,018	The market (at the moment) has valued it at $5, there's reasons why. You can either take a chance and buy, or stay away. I have been burned by so called bargains in the past, but have also made a few $ in the past. My call right now - stay away from BofA.

21 December 2011, 03:42 PM	#21
hdrazor251 "TRF" Member Join Date: Nov 2010 Real Name: Jeff Location: Arizona Watch: is recovered!! Posts: 4,255	B of A is a gamble, not an investment. If you can't get to Vegas or an Indian casino B of A is a viable alternative. __________________ 16753 GMT Master, 16613 Bluesy, 16710 GMT Master II, 16570 Polar Explorer II-Stolen & Recovered!! Card Carrying Member of the Global Assoc. of Retro-Grouch-Curmudgeons

26 December 2011, 05:05 AM	#24
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,019	Like replica watches, it is a "replica equity". No technical definition for that description - if they sell some assets (likely soon) and get out of the bad loans unscathed (less likely) - then they will be liquid. Otherwise it will be a bankruptcy soon i fear. The ratios and lack of confidence among experts is a tell. __________________ Does anyone really know what time it is?

26 December 2011, 05:23 AM	#25
ducatidoc "TRF" Member Join Date: Jul 2009 Location: the doc side Watch: zenith Posts: 3,779	I bought Citi at $3.15 about two years ago. Still waiting. __________________ The payments remain long after the novelty has worn off. # 26371 NAWCC Member

26 December 2011, 05:29 AM	#26
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,019	We doubled on C in 2009, and almost tripled on BAC, too. But they were admittedly gambles then and even more so now. Never put more than 5% of cash into them - it worked out then. __________________ Does anyone really know what time it is?

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