Out Robbing Banks…C and BAC

Posted on Apr 27, 2010 by in Letters

2010-04-27-cNo Per Petterson we, nor no Luce neither.  But today traders are robbing us of some of our paper profits in C and BAC.  When the barbarians are coming over the walls it behooves one to look to his defenses.

2010-04-27-bacWhat we have here is the inevitable downwave.   When this exhausts itself we will be increasing our commitment to these two not-beloved  banks.  In the meantime we will honor our stops if the downwave reaches that far.  We have marked the Basing Points in both issues and calculated stops based on a 5% filter — you could use 6% if you were stubborn — and feel as we do that these issues will be worth five times this much in 2 years — ill deserved as it might be.

Stop C:  4.18

Stop BAC:  16.78

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One Response to “Out Robbing Banks…C and BAC”

  1. WHC Bassetti

    27. Apr, 2010

    That’s stuff from thinkorswim — earnings reports and analysts conferences and such. I usually just ignore that stuff.

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