Posts Tagged ‘Bank of America’

Drive for Five Ends Short

It's All About the Financials

Banking on Bank of America

So is this the bottom for financial stocks? If it is then they made a heck of a bounce on Tuesday. The rally happened faster than a speeding bullet and the Wall Street cheerleaders have got this pep rally going. Yeah! Before we go jumping in and buy any optionsRead more

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Trade Updates: AZO, BAC, IBM, SWY

Not much has been happening with AutoZone (AZO, $141.08, down $2.80) since I profiled the stock on Tuesday. The March 160 calls (AZOCL, $1.50, down $1.50) were at $2.30 and the March 130 puts (AZOOF, $3.80, down $0.80) were at $3.90. My initial hopes were that the stock would haveRead more

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Citigroup Gets Boost, Futures Up

Futures are up sharply this morning after news surfaced late last night that the government will increase its stake in Citigroup (C, $2.10, up $0.15) to as much as 40%. That quote is in pre-market trading which means the stock is up 8% before the opening bell rings. Futures wereRead more

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Weekly Wrap for 2/22/09

1. Commentary 2. Gold and Platinum 3. Trading Bank of America 4. 2008/ 2009 Portfolios 5. Current Trades 6. Earnings 7. Closing Thoughts ************************************************** 1. Commentary If 666 is the number of the beast, it must be that of a bear because it roared its ugly head at the market.Read more

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Dow Falls Below 7500

Research in Motion (RIMM, $41.87, down $0.23) is trading lower again this morning and has hit a low of $40.97. I had mentioned yesterday that the stock looks headed below $40 but sometimes its nerve racking when you have a short position in a well-known and popular stock that isRead more

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Market Heads Lower

Weekly Wrap for 2/16/09

1. Commentary 2. Oil and Gold 3. Options Education 4. Credit Spreads 5. Current Trades 6. Earnings 7. Closing Thoughts ************************************************** 1. Commentary The market was under tremendous pressure last week and as the saying goes, pressure bursts pipes. Wall Street took a back seat to Washington as the stimulusRead more

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Bank of America Update

Yesterday morning before the marlet opened, I had mentioned a couple of March call options for Bank of America (BAC, $5.87, down $0.20). The March 6 calls (BYOCF, $1.15, down $0.15) and the March 7 calls (BYOCG, $0.78, down $0.09) had lost 50% of their value on Tuesday. We wereRead more

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CFTC Disclosure:

GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED IN THE PAST, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. WHILE THERE IS A POTENTIAL FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH Momentum Options Trading, LLC CAN BE SIGNIFICANT. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CIRCUMSTANCE. THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. WE MAKE NO CLAIM REGARDING PAST OR FUTURE PERFORMANCE. WE MERELY TRACK EVERY TRADE AND SHOW THE PERFORMANCE OF ALL TRADES THE SYSTEM OR NEWSLETTER PRODUCES. SIMULATED TRADING IS DIFFERENT THAN TRADING REAL MONEY. HYPOTHETICAL RESULTS ARE NOT REAL RESULTS. PLEASE CONTACT YOUR BROKER ABOUT THE RISK OR TRADING STOCKS, OPTIONS OR FUTURES. ALL COMMUNICATIONS ARE OPINIONS NOT ADVICE.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.