Who Is Buying More?
Q: Are you buying "IN" and what pricesare you looking. I plan on adding 5,000 more shares, are you with me?
A: I bought 600 at different prices. I know this is going to come back to a good price. All these are games and creating high fluctuations. I know end there will be a great success. Wish you goodluck all. There is so much crap hitting the fan for the banks in the next month this is going down. We may be testing new lows as well. I had been buying long calls but now it's time to short. Sold out bac earlier and rode skf most of day. Late in day, sold down skf stake and bought sti, fitb, and etfc because these tend to go up faster than bac, but soon will resume bac as majority stake when it wakes back up, which I expect it to do tomorrow or Wednesday. I think this is going to be similar to a repeat of Monday March 30, when it dropped 18%, then rallied for another week. I watched these banks for more than one year, I never touch their stocks. Nobody knows what they are really doing. The gov gives money to them, it does not know how much they need either. We have a lot of stocks there you can play, why bac or c? The economy has not been changed yet, it does not matter how the press describes it. Check out the unemployment rates in different states. This month the rate will hit 9.5% according to my calcuation estimate. That's will another bomb to the economy. Higher unployment rate means bad credit business in banks. We will see the second bottom before the we really get out of the woods. You'd better keep your cash in pocket and wait for three more weeks. If you insist to buy financial stocks, don't buy it more than $4 per share, like bac. It has two tumors, one is MER and one is country wide. The unemployment rate is the first index we need to check before we talk about bottom of this recession. Be honest to yourself. You are playing with your own money, not the bailout money from the 'stupid' Fed. Good luck!
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