I'm rather perplexed, especially as it seems the whole market went up with better than expected NFPs whilst I continued to suffer in financial agony.
BAC plunged deeper into a capital abyss with seemingly no end in sight, forming a new 52 week low that I didn't want to buy into. I remember this level from the way down during the aftermath of Lehman. I'm waiting for a clear rejection of a daily low before making a move, although admittedly, it could take some time before it happens as BAC clearly is one of the weakest financial sector stocks. I think this will be similar to my AMD play from back in the day, which means I could be in for a lot more pain before any potential gain ensues. I did end up making money on AMD, so I'm going to exercise patience and trade other stocks whilst BAC continues to be the sector's outcast. BAC is only now beginning to feel the repercussions of its patriotic Countrywide acquisition.
-0.94% SBA
-1.97% Roth IRA
+0.54% DJIA
-0.94% Nasdaq
-0.06% S&P
Happy Shiny Weekend!
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