Thursday, March 14, 2013

BAC is now ripe for the taking...

BAC is trading up after hours.  Announcing a 5 billion dollar stock buyback along with a requested dividend increase, has the stock trading at $12.67 in extended trading. Assuming it opens at this level or higher, those who are willing to sell it short will have a chance to ride it to $10 in the next couple of months, in my opinion. The lifetime underbelly of the broken channel should completely overwhelm the late buyers of BAC.

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