Thursday, 25 December 2008

Fast money BAC

Since October 2008, US money market is really a good place to make fast money. Everytime you observed the stock went down 20-30%, most next few days it will go up. When it went down more than 40% within 1-2 day(s), next few days it will go up sharply. Whatever is going up fast, it will come down fast. So same concept whatever went down will come up. Certainly when you see it recovered about 20-25% should already sell. Don’t be greedy.
For BAC, it went down from $32.22 to $19.63 (Oct 6 to Oct9, 2008) which dropped about 40%. It went up from $19.63 to $26.53 (Oct9 - Oct14, 2008) which reduced the gap about 20%.
Another round is from $18.69 to $11.25 (Nov 11 - Nov 20, 2008) which dropped about 40%. It also went up from $11.25 to $14.69 within a few days which also reduced the gap to about 20% lost. My next bet is on BAC and C, I am hoping this 2 company to go down after the Q4’08 quarter announcement. My target price for BAC is below $12.

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