RE: Bank Of America Says It's On Solid GroundSorry Dividendguy but just because Ken Lewis says BAC is on solid ground simply doesn't make it so! I would go as far to say that BAC has negative capitalization and will struggle to maintain a SP of over $20 in the coming weeks! I do remember Mr. Lay & Mr. Skilling pounding their fists on the table claiming their company was on extremely solid ground as well! (For the record I'm not comparing Enron to BMO)!
I don't believe there is a conspiracy of "poster bashers" that are out to get you but your ratings are simply a reflection of the quality of your posts! Your act is wearing thin as are your claims that you've been buying 100 shares of BMO and/or RY almost weekly! Phoebe's portfolio has CLEARLY shown that waiting to buy banks is a much smarter decision! Thanks for posting the updates Phoebe!
You can trade the banks and try to hang on to the free shares or get you're average cost lower but even that's a chore as it's been very difficult to pick near the tops & bottoms! Bank charts have been the equivalent of the "wild west" since last August! Long term charts serve no purpose! On top of that oversold conditions can persist for extended periods of time!
All the best,
The Bluenote