Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: Qualified Opinion who wrote (43478)	1/9/2013 5:18:07 PM
From: Vendit™	Read Replies (3) of 220568

This what the chart shows: 1- All three lower indicators show confirmed and rather strong sell signals that started to confirm about three trading days ago. 2- The selloff appears to be meaningful when you look at the extremely high volume today and the size of the move down. 3- The selloff will continue for several days based on the way the indicators cycle on BAC. 4- There is no sure way to predict a bottom but I see first firm support at $9.96. 5- We know that the fundamental reason for the selloff is the huge amount of cash that they will shell out. 6- BAC’s estimated EPS for 2013 is .97 cents a share so the stock priced at $9.96 gives them very near to a PE ratio of 10 which is why I am holding. Even better projected earnings for 2014 of $1.27.

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