Trump has millions in managed funds that hold millions in banks. If he was not really a billionaire before this, he will be a billionaire very soon.
What is the short term outlook for Bank of America? Brian Bolan gives us his thoughts. https://www.zacks.com/commentary/97771/bull-of-the-day-bank-of-america-bac Bull of the Day: Bank Of America (BAC)
I know it should be a no brainer for this stock to react well to next week's almost sure interest rake hike. It is the guidance for future hikes though that worries me. Does it concern anyone else? I almost think it could go down and I'm almost tempted to unload a portion of my holdings... Thoughts?
There is nothing wrong with some taking profits. I did so myself on BAC for 14% of my position. The only advantage I have is I can buy the same shares back for $17 through my calls if I so desire. As I said when BAC was $13 dollars it has the most to gain from continued rate hikes and the charts confirm that. It's all about Trump's deregulation which includes rate hikes. Will he have problems with his plans being approved? With the Republicans as the house majority it should make it easier to put his plan on board. At some point in time BAC should have a pull back or at least trade sideways. Like they say you can't go broke taking some profits.
Her is a pull back than many have been waiting for. This is pure speculation on my part. If BAC and the other financials continue down prior to the Fed meeting on Wednesday, there could be a nice pop if the the FED is hawkish on future rates
Well the rubber meets the road today with the Fed meeting. Much of the price maybe already baked in and to move forward and up Yellen needs to be hawkish on future rate hikes...Stay tuned Strong early volume
I do not understand why people are not investing in this. It is free money. Since 9:30, I made over $150. There is no way BAC is going down today.
Be Careful buying into the FED Meeting. I feel most ranges will resolve both ways once the statement hits.
You really have a lot to learn.... especially if you think there is "no way" BAC is going down today. Nobody knows anything even in this "Trump market" Just look at Brexit - the Fed could not raise rates and these financial stocks would plummet.
This was effectively priced in by this morning. Pullbacks are also normal after a quick surge as people take profits. I think it's still going to advance in the short to mid term.
Like I and others told you, the enormous run over the last month was already predicting the rate increase. In other words, the good news was just confirmation, not actual surprise good news. Everyone has been getting in over the last month, so nobody had fresh money to get in today when the news came out.
It is expected the Fed will raise rates 3 times in 2017. I understand that the dip will come, but too many people sold out too soon. It was ignorant of me to say I was going to make $1,000 today.
Right, I'm not saying you can't make 10% in BAC, I'm just saying it's going to take a few months most likely.
BAC was/is quite extended. The 2nd impulse leg was twice the 1st impulse leg. I think the retracement has the potential to fill the gap at $19. That could take about 3 to 6 weeks. Definitely bullish though with upside potential to $30 based on the nearly 3 years of cause built. Weekly Sticks (mid-week)
