Market's Ballz to the Wall... picking up some "C" and "BAC" today!

[gleem]

For those of you watching the market, how's the roller coaster been today? I picked up some "C" at fresh 52 week lows, have a limit order on "BAC" that I have a feeling it might hit too.. Hoping the financials will get a 5 - 20% bounce like before, & when Greece defaults they tank completely down the road.


Pick up anything at lows, what's on your watch-lists?

[sponsorpimp]

I watch the currencies and the NZD has tanked approx. 5% on most currencies since yesterday, maybe some thought into buying?

[PornMD]

Originally Posted by gleem

For those of you watching the market, how's the roller coaster been today? I picked up some "C" at fresh 52 week lows, have a limit order on "BAC" that I have a feeling it might hit too.. Hoping the financials will get a 5 - 20% bounce like before, & when Greece defaults they tank completely down the road.


Pick up anything at lows, what's on your watch-lists?

BAC has been taking a hammering lately due to Countrywide (seriously, what a stupid fucking acquisition that was!) and they just got downgraded 2 levels in credit rating - that plus apparently now government is shying away from bailing out the "too big to fail" entities, so if shit hits the fan for BAC...

Certainly there's high potential upside, but look - WAMU was hugely popular and "successful" until all of a sudden they weren't and they went belly up. Just not sure I'd hitch a rideo n the likes of BAC at this point. I keep thinking they won't go lower and then they do.

[gleem]

Originally Posted by PornMD

BAC has been taking a hammering lately due to Countrywide (seriously, what a stupid fucking acquisition that was!) and they just got downgraded 2 levels in credit rating - that plus apparently now government is shying away from bailing out the "too big to fail" entities, so if shit hits the fan for BAC...

Certainly there's high potential upside, but look - WAMU was hugely popular and "successful" until all of a sudden they weren't and they went belly up. Just not sure I'd hitch a rideo n the likes of BAC at this point. I keep thinking they won't go lower and then they do.

Yep, I ate a big shit sammich with WAMU, I made them my long shot play of 2008/9 and rode that to the penny stocks.

BAC hit $6.01 a few weeks ago and then peeked over $8... seems to hit lows and then bounce back to the mid to upper 7's over the past few months, that's some serious 20% magic returns with a little patience and ballz of steel.

I actually have a buy limit order on BAC at $6.01 but it never hit it today, thought it would.

In these markets you gotta be nimble in and out and be a trader to hit your yearly goals... making my 20% this year is gonna end up costing me 100+ trades where as last year I made 12 trades all together and ended up 21%.


P.s. GNW another financial just hit a 2 year low : http://www.google.com/finance?q=gnw

[Kenny B!]

I'm sitting back and watching for now, one thing I have learned over the years is I am not good at timing the market!

[pornguy]

I actually picked up WAMUPQ I think it is.. got a couple K shares at 7 cents and when they hit about 25 cents I will sell them. Not much of a pick up but in the long run a profit is a profit.

[gleem]

the bloodshed continues!

[PornMD]

Originally Posted by gleem

the bloodshed continues!

Yup, getting there: BAC 6.04 -0.34 -5.41%

Edit: Funny, NFLX seems like one of the only stocks up today. I'm sure they'll be back down tomorrow.

[gleem]

Originally Posted by PornMD

Yup, getting there: BAC 6.04 -0.34 -5.41%

Edit: Funny, NFLX seems like one of the only stocks up today. I'm sure they'll be back down tomorrow.

Yeah, was wondering what point NFLX is oversold... almost got in at $10 years ago, oh well!