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The action of the Bank of America continues to head “SOUTH!” BAC is DOWN over 40% below its April highs!!! Breaking key support can spill over to the Bank Index. Respect the price action of this single stock!!!
Falling wedge has taken shape at the bottom of the falling channel… A positive for the markets if BAC could break to the upside of this pattern.
Awesome trade on BAC you did!!!
That was more than “pocket change!”
Perception is everything and is reflected by price so as long as support holds and perception of solvency is maintained and accounting rules changed you may have a good trade. i bought when it was $3 and sold at $10 after the March 2009 sell-off and have not really looked at it since then.
I was ready to buy BAC on support at the bottom of a falling channel.
Do they have challenges/troubles I am not aware of??? 😉
Is this the typical pattern associated with an insolvent institution propped up by bailouts and hiding behind accounting gimmicks?
Just observing: Bac and other Bnaks Citi have been squeezing American hame owners and credit card hopders at 30% .. As there stock price is showing..THEY MAYBE HOLDING THE HOUSE OF CARDS, AND THE jOCKER….
their stock is beginning to show it..
No doubt BAC has been weak! Notice it is at the “bottom” of a falling channel.
Have to so say it is impressive the broad market is doing what it is, with the banks on vacation!
I bet this is the main pin in the house of cards…Jcp Retailer is heading down…a stong consumer indicator
also please whet is the inverse for (fcx). am ready to do some shorting….
Excellent site.. the best I’ve seen..