Tuesday, November 13, 2007

Swing Trade Update: Bank of America (NYSE:BAC)


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I had mentioned preivously that I would set my stop on my Bank of America (NYSE:BAC) at 44.

Well, lucky for me that I decided to change my stop before that happened. I lowered my stop to 43.5. The two worst selling days in the market were Nov 9/07 and Nov 11/07. On these two days, BAC put in a double bottom @43.6-ish. That makes 43.5 a natural stop loss point for me.
Initial Target is 49. If a trendline develops, I will hold for longer.

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