Wednesday, February 1, 2012

BAC

Yesterday I mentioned BAC looked like it was setting up again for a downside move and my preference for playing that with March in the money puts. 

With the majority of stocks following the market and their industry group as a general rule, BAC got a bit of a free ride today, thus I like the trade even more.
 BAC has heavy overhead resistance nearby as a top 5 holding in many funds last year.

It looks like some on Wall St. have used BAC's price strength today to their benefit.

No comments: