Stock Players: What's your opinion on Bank of America stock?
 

GFY stock guys,

I've been told by several people that Bank of America is a once in a lifetime investment opportunity at the moment,

that only a few larger banks will survive in the end like bank of america and wells fargo.. and the ones that do make it will make it by large margins within the next year or two.

Any thoughts?

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.
:2 cents:
_

In my opinion its a nice lottery ticket. I am averaged in at $4.30. It will be interesting to see where it goes but in this environment no one knows.

It is a once in a lifetime investment, same with Citi Group .

Citi group is still lower then it has ever been even lower when it first became an IPO in the 80's. Citi Group is the strongest financial institute, hell WaMu is powered by Citi Group. So we basically reversed back 23 years to Citi Groups IPO just think what it will be in 2-5 years!

I've bought both stock on monday and it has made so far almost a grand.

If it gets nationalized though, it goes to $0. I just don't think it's worth the risk.

I think it would be wiser to buy in Wells Fargo for the long haul.. They've done way better through all this, then bofa.

Wamu is now part of Chase not Citi.

Regardless they are both nice little gambles.

banks are a crap shoot atm i believe

i bought C at 1.57 then again at 1.00. so far im up 24%.

BUT i only bought enough so if the get nationalized and go to zero it wont hurt

Risk? Your talking with ignorance my friend.

Wait and see. Follow the stock.

Read the annual report, look at insider trading. All the executives and chairmen have bought the hell out of Citi Group when it dipped to it's lowest.


This stock is a gold-mine and focus on the new financial institutes growing and working with Citi Group.

Just wait but don't cry when you see other people making millions and you sit there asking yourself "Why didn't I invest my money?"

Where the fuck is Citi Group going? No where!!!

Watch my generation which has 3 times the population of people born in early 80's , 70's, 60's and so on.

When we mature more and get careers moving, people completing college, this will be a buying frenzy in 2011-2020 . Real estate is going to boom those years!! You watch!! I was right with oil, gold and now financials and real estate.

I am personally staying away from the market right now.

I would stay away from it now

Bumping This.

Anyone's feelings changed on Citi and BofA..

I have about 2500 shares of WAMU but got them sheap as hell. So if it bounds back up to a few bucks a share then I made a nice profit. If it fails to ZERO I get a tax write off.

Ad for Citi I need to look into that and most likely will grab some shares to sit on with the same feeling as Wamu.

Whats the symbol for them CITI?

C

I have most of my money in citi... been packing in like 10% of one of my characters I play into it..

Then been taking some savings and putting into BofA...
But I have a big big big medical thing to pay for next month.. and trying to decide whether to stay investor with Citi and BofA.. and use other savings to pay for it.. or credit card.. and put that savings into BofA and Citi..

I bought into Citi at $3...but I have to say all the financial stocks make me a little nervous. There are other cheap stocks out there, that might be a lot safer. I got into RIMM at $45 and that has had a nice run :)


PS. If they can break away from the TARP money...might see a great ROI

Thanks PSS going to grab a few of those today I hope.

I bought in at $4 and some change,

but I still think it's a smart "long term" investment even at the current price.

Hopefully BofA and Citi have more days like today the rest of the week :) :) :)

Where do you guys read your after closing predictions and shit for the next day?
Or just group all the articles together yourself?

i bought at much as possible of BofA at $4 and citi at just over a buck. Wish I had gotten Tivo yesterday, but all in all, im sitting fucking pretty right now. B of A isnt going anywhere.

i got rid of my C at a very nice profit.

Put most of it back and then some into FCX. Gold and copper baby

The stock market is up something like 35-40% in the last 3 months. Low of 6700, now its at 8750 :) 75% of any stocks movement is tied into the overall movement of the market. If you think the market will continue to run and we've shook off the biggest financial mess arguably in our history in 1.5 years, you are pretty naive. What goes up must come down, and what goes down must come up - we're oscillating like crazy now - take advantage of the volatility - sell into rallies, and buy into pullbacks. When the market is dropping a lot, increase your positions, when we rally like we've done recently, start selling them off. The market wont run until the next round of complex financial instruments comes around again, there is nothing in our country to drive big growth right now - don't be greedy :2 cents: Only thing I'm holding right now non-dividend is oil as a bet for inflation which still isnt here yet (gold is way overvalued imo), everything else I hold is div yielding 5% & higher.

ty for some perspective :)

the only thing people should invest in is oil, gold, & arms. all other investments are a joke.

I think Bank of America stocks will go up to $20 Bucks, not sure when though.
But I am not toughing it. They seem to be desperate to start the whole Loan thing again, that is always scary.

I've been following Bac and C closely for the last six months. Most the most part I've been bullish on both. However lately, I'm not so high on either. Citi was just delisted from the Dow two days ago and the stock seems to be sputtering. A report last week showed that BofA was the most undercapitalized out of the top 19 major banks, so they obviously have been slow to recover and I don't see the stock spiking back over $14 anytime soon.

Don't listen to what people tell you - do you own research since its your money you are playing with :-)

As for me, I've made money with short term plays with C, HBAN, BAC, PKD, FITB. Buy on the pullback and sell on the rally.

I have picked up BAC for the long term as well as MMP and KMP

Washington Mutual is now Chase.

BofA has been a good investment as are Chase and Wells Fargo.. I bought a good position of BofA at just under 8 dolla.

This trade worked out well for me selling most at $11.79. I am still holding a small position in both C and BAC. Made a killing on DIG (oil sector) as well.

Starting to think about adding on some shorts in specific areas but I don't want to jump in front of a freight train just yet.

Here's hoping that tomorrow is a repeat of today for BofA :)

I bought it yesterday... was nice to see the jump this morning :)

Well I'm planning on selling sometime before the end of the month to use the money... so I'm like rabidly watching it...

waiting for the right moment..

I wanted to buy BAC when it dipped from 34 to 25 but I couldn't load the funds fast enough. So, a few weeks later I checked it out and it was at 3.20. Freaked me the fuck out never seen it lower then 25.

I got in at 11.83.. small amount of shares only a few hundred dollars worth. But some nice gains to help offset my CCTYQ (CC) purchase.

Are you talking about short selling as in making money when the stock goes down. If so, which online broker allows this? Or are you talking about getting in on a dip and selling quickly during a uptrend?

BAC and C are very speculative plays at best. I think BAC has strong potential, but who knows what will happen next. For a very long time both banks will not be able to pay any dividends worth talking about. I go with more solid banks in growing markets that pay good dividends and will likely increase them. Most of them have gone up 50% or more since March. A couple of examples:

- almost all Chinese banks
- STD Banco Santander
- HBC HSBS
- ITUB Banco Itau from Brazil
- DBS Singapore

Good luck :-)

PS: I bought BAC when they were 3.20 ... and sold them at 5 ..... SHITTTTT, just 50% profit :-(

$1.50 + in the last two days..

I wonder what Monday holds?