6 Days of Selling

Wednesday, January 14, 2009

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2 comments:

Mark P said...

What do you think about buying a company like Bank of America?

Name: Brandon Rowley said...

I'm a bit hesitant about committing to a position in BAC. It's tough to buy stocks making new lows on the year...always a risky proposition.

I like buying UYG (or XLF for a bit less risk, or FAS for a bit more risk) for a move higher. Choosing a particular financial company is tough in this environment and I'm not a specific company analyst. The lack of transparency in bank balance sheets is tough to decipher and I'm not sure it is worth trying. Buying the basket at these lower prices seems as though it will be profitable over the long-term.

As I stated earlier, I believe the bottom is in in the market I've bought BGU for the longer-term.

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