Since I have a vested interest in Bank America stocks and have ridden this downturn all the way this is my opinion.
At first I was really pissed that I didn't bail back in October when my gut feeling told me to get out. Since I consider myself an investor vs. a trader and viewed this as a long term investment so I convinced myself that one of the biggest banks in the U.S. would be able to handle the downturn in the market and maybe even come back stronger.
Wishful thinking? Maybe... maybe not. All I know is that I have learned more about the workings of the stock market in the last 6 months than that last 20 years combined
Right now I am still uncertain that it will go back to the $40-$50 range, as it was 18 months ago, for at least 3-5 years. The up side for me is that I can add more shares now bringing my cost per share to a point where I may be able to break even when it does rebound to say $20 which I think (hope) is attainable in about 12-18 months.
As I stated in a previous thread I have currently lost most of my faith in "Investing" in the stock market but will look at it as an instrument to re-coup some of my losses through trading only select stocks that I think have a potential to double in a short period of time due to upticks in the market. Tricky indeed but at this point I can't see any other short term method.
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