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Non-Tech : Bank of America
BAC 54.54-0.5%4:00 PM EST
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From: Drygulch Dan7/12/2016 1:25:25 PM
1 Recommendation

Recommended By
Qualified Opinion

   of 4366
 
something I read somewhere:

"I respectfully disagree. Now is a good time to be long this stock with an eye for future price improvement. In February a low point was established in the low 11s or high 10s depending on which data point and timing. More recently in late June it visited the low 12s. This defines a rising bottoms line. The large banks as a group are also trending upwards. So BAC is keeping pace with its peers. Brexit was the negative event that defined that last data point. The bank stock has risen in the aftermath of that event. How to interpret this ?

Justin Mamis expresses his views from years ago this way: "Sometimes news is so glaring that it proves to be culminating. And sometimes that combination tells us that we can join in. The single best time to buy a stock --you can put this in your will for your grandchildren to rely on--is when given bad news the stock refuses to go down any more."

Perhaps Brexit was that sort of culminating bad news."
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