So I have some free time on my hand right now, and thought I would do something going back to 2/17/2012
If Friday had a negative close from Thursday Monday had a 54% of the time Monday for BAC is going to be in negative. (So 46% pos) so close to 50/50
If Friday was in Positive territory 67% of the time... Monday ended in Positive territory.
So overall in the last few months since February Mondays have only been positive 37% of the time
While Fridays overall have been positive 70% of the time.
Why does this matter to me, well as I stated early BAC doesn't seem to play the technicals to well, and or MAJOR news. Yes it will spike on Major news but not for too long, and the dip and then slowly rise on NO news.
Lets take major move days
10/06/11 8.8+ WHY:Bank stocks across Europe soared following reports in the French media that the French government is considering a contingency plan to take stakes in
the country's lenders.
10/10/11 6.5% Why: Bank stock rally
10/18/11 10.1% Why: Q3 report, But it really wasn't all that
10/27/11 7% Why: BAC net income +6billion
11/30/11 7.3% Why: Dow up about 400 in a few days because of positive European news
01/05/12 8.6% Why: Bank of America surged on speculation that the US Government may introduce a loan refinancing program.
3/13-3/16 20% wHY: I was in slovenia for this one BOA stocks soar after PASSING stress test
06/06/12 7.6% Why: ?
But see BAC will take off on great news but then come back down. I really didn't have time to find all the big losses but there are quite a few after big gains.
When this stock was going 7 to 8 back and forth it was on no NEWS. It takes off some times on EURO news, except it doesn't really affect much because of low exposure. I remember a large gain one day due to Greek elections and French elections even though those elected were quite left leaning.
Now that interest rates are low I am wondering how soon can we get the stock up to 10+, a lot of money comes from Interest and bank fees (and we know these are well regulated now)
A lot of income last year came from sales of Multi million dollar properties, something that only happens once in a while.
My thought is if they can do something with Countrywide they will break past that 10 share hold