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Strategies & Market Trends : Value Investing

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From: Mattyice	10/11/2010 10:33:53 PM
	Read Replies (3) of 78632

BAC, WFC - Bank of America All oh the BAC, how i love you so. I started reducing my exposure and risk last week and noted that i will sit on the side lines and continue to peel off shares here at these levels, getting a little frothy for me. BUT..... Heading into earnings here I picked up some leaps in BAC, and WFC here. I believe i am a little early to the party here, but i like the execution of WFC recently which it doesnt seem to be priced in to much. BAC - i could spend all night detailing why this thing could go higher or hell even lower. Trading around book here, i am going to get a small position in some leaps started. I have been underweight financials for about 5 years, so this is not really something i have a whole lot of familiarity with as far as valuation. I like the contrarian aspect though. I like the risk metrics of the leaps for me personally on stocks that do not pay dividends though they could be initiated eventually in BAC (and WFC increase at .8 %). I also HATE the decaying nature of shorter term options and plus the upside explosive move in volatility when the street figures out they start liking one of theses stocks again. WFC - Jan 12 $35 - $1.28 BAC - Jan 12 $20 - $0.45 (ok, just sent a text to my investment banker bozo buddy, told me to sell bac going to be awful awful quarter, and i'm holding "dead" money) ---- >> like my play here even better!

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