Uptick Rule Change Next Week
Q: yea, BAC isn't going to be as fun anymore once the volatility slows down, I don't think. :( I kinda think that everyting was just silent today before the storm. I think people who play already have their positions, either short or long and we are just in a waiting pattern for the fireworks next week when we start seeing a lot more earnings reports. I mean, I have money sitting on the table now that i simply didn't put anywhere, (probably a mistake since there were obviously plenty of things going on today), but I just wasn't inclined to make any moves since I've established my positions and am waiting for next week to see what happens. I can't wait. Mondays have become my favorite day of the week since I started trading.
A: alpha.trader Volume was normal since we had a lot of profit takers on Thursday due to the negative news not wanting to hold on Friday. None of these would have came back on Friday, you will see more than average Monday trying to buy in at over $8. So you can say the additional 80 MIL + on Thursday could have come on Friday equalizing the two days. fonz.h Your points make sense. I also believe April will be a short pop for BAC. Who knows? $8? $9 $10? ...but then we'll watch a relatively stable and flat share price until "the economy starts showing steady growth".... To go a step further, at that time, BAC will head up toward $20 or $25. The longs will be rewarded for having patience. One thing I would like to point out about UPTICK rule. I believe if uptick rule reinstated, it certainly will held stop shorters overkill the financial sector. How this rule will impact Gov'l tax revenue when it slows down trading activities? I don't trust politicians, especially those from Congress, After we had pretty good run in the past 2 weeks, does any one think they will really put back the uptick rule which I believe it will slow down trading activities. They might think Market is stabilized, and they just talk and won't do it at the end. I also believe if market has a broader rally which will interpret healthy taxable revenue across the board. Majority will be happier and only SHORT sighted minority wil get burned. ............I'm Long on bac