October 20, 2010 | In: Financial

BAC: Is There an End in Sight?

Every time I buy BAC I regret it later on, even though I vowed many times not to buy this stock, I still buy it thinking that it’s undervalued, and I still believe that it’s undervalued, but obviously the market doesn’t. BAC is now trading at $11.59 in the pre-market, there’s a huge difference between BAC and Citi, a resilient stock.

BAC is having a constant stream of bad news at the moment, the latest is this thing by the government to ensure that BAC swallows bad mortgages.

Nobody knows the bottom of BAC, some say that the stock will be halved by the end of the year (reaching around $7 to $8). I personally believe that it will end the year at the $18 level. The problem right now that I have a lot of money invested in BAC and it’s blocking me from investing the money somewhere else (I know I should have bought DAL yesterday).

I have to make around 10 trades till the end of the month to make sure that I maintain my active traders status.

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