Actually, I'm counting (hoping) on the dividend staying in place especially if BAC nudges back to mid $30's. So yeah, it's a gamble. I will hold long term if BAC lingers low $30's but will sell (in IRA) if it bounces to $37.20.
bought 10,000 shares today at 30.19, so it's bound to go to $15.10. Luckily I almost never lose more than half.
The dividend is likely to be cut. Not guaranteed, but likely. On the bright side, an expectation of a dividend cut is partially priced in, so hopefully it won't drop too much if/when it's cut. Also, even if the dividend is cut in half, the yield will still be solid (it's just over 9% currently).all these stupid bankers and hedge fund managers not buying BAC. all the money they can make borrowing at 1% in some country and buying BAC just for the dividend
What would you do at $37.10?
This plan tells me that you are looking for $5-7, and risking who knows what in that quest?
Wow!
I hope you have a few more $300,000 packs wherever that one came from.
Ha
(June 16): I bought 10,000 shares today at 30.19.
(June 19): I'm playing with my mad money but darn, even losing the mad money seems maddening.
WOW! $27.50 and sinking.....I don't feel so good....
Wish I has some of that $$$ Enuf has in his freezer.....although, I haven't been so lucky so far.....
Opportunity time, YEAH I know....but is it the last opportunity to sell (aka Bear Sterns) or the buying opportunity of my lifetime....
Where's the earlier poster (here or in bank stock post) who predicted an $18-19 bottom....technical analysis geeks - what say you??
Now where did I put that Magic 8 Ball??
Therefore I am actually putting 1/2 percent of my portfolio into KRE today . . .
Just curious, did you get a satisfactory answer on why they did not pay a March distribution and why the June one was so small?
However this is also a minor part of my total portfolio and I would not care to hold much more than the 1/2 percent of my portfolio I bought yesterday.
Ha, despite the lack of single issue risk, the sector risk is very large. If the economy were to regain its footing, this index, assuming the fear of the housing industry were to be erroneous, would most likely return to the 50+ range again in a reasonable time frame while paying a 5 percent dividend. In order to invest more into this index tho I would want to see confirmed signs this is actually occuring. Additionally now that I have the ownership my personal fiduciary duty will force me to track the individual stocks in the index since I am an anal financial person who actually enjoys listening to earnings calls and reading financials, which may lead to a further investment in the future in an individual issue. How else would I ever have heard of Frontier Financial Corp and realize what a disaster this company is as they have cut their dividend 67 percent this quarter? Or that Washington Banking Co has terminated their proposed merger? Their next earnings call is July 22nd and should be a real mea culpa.I don't understand your thinking here. If you have a $5mm portfolio, you still will only have $25,000 in this etf. Why bother? There is no single issue risk, in fact at these levels your only risk is apt to be time. At 1/2% of portfolio, it can't hurt but neither can it help. Now if it were some huge longshot I could understand, but this I truly cannot.
Ha
Congrats VACollector!! BAC did very well today. There may be a bit of a sell off tomorrow, but they are heading in the right direction. Perhaps people are realizing BAC is not going down the same path as IndyMac and will get through this mess.Woooohooooo!
Only 7 more days like today and I'll be back even!!!
(he says with unbridled enthusiasm.....taking the momentary opportunity to celebrate his one small daily victory after the immense daily beatings that have become common place..........even with the realization that winning the lottery may offer better odds!!)
Weeeeiiiiiii !!!