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pm
#1 Posted : Friday, May 29, 2009 5:41:00 PM
Rank: Member


Joined: 11/11/2006
Posts: 60
Anyone here following US Stock Market?

What do you think of BAC @ 10.57 ... it may emerge as a powerhouse
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Mwafrikah
#2 Posted : Sunday, May 31, 2009 5:58:00 AM
Rank: Member


Joined: 9/8/2007
Posts: 75
@pm What is BAC? Pliz elaborate

The fool folds his arms and consumes his own flesh. Better is one handful with tranquility than two with toil and a chase after wind!
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Mainat
#3 Posted : Sunday, May 31, 2009 7:04:00 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
PM-depends on your horizon. short-term,I don't see it going above 12.50 unless Q2 is exceptional. Beyond that,it depends on whether it has cleared the Merrill cupboard that was full of toxic balances and managed to clear out bad commercial mortgages...

www.mjengakenya.blogspot.com
Sehemu ndio nyumba
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pm
#4 Posted : Sunday, May 31, 2009 7:01:00 PM
Rank: Member


Joined: 11/11/2006
Posts: 60
@mainat,

I've noted 5/29 price of 10.57,I'll remind you in a year ;)

@mwafrika,

Sorry about that,BAC is the New York Stock Exchange symbol for Bank of America.
For the profile,see yahoo profile Last year,it acquired Merril Lynch; one of the major Investment Bankers in US and Countrywide also one of the biggest mrtgage companes in US. There were issues with both ML and countrywide,they were at the verge of bunkrupcy due to the near finacial collapse ... but,if BAC survives,it will be a monster of a company ;) ... there is excellent chances its surviving & about to make a bundle ...
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