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OklaBoston (68.24)

All-Stars closing BAC outperform picks

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May 06, 2009 – Comments (3)

One of the Alerts I got today (May 5, 2009) revealed that no fewer than 10 members with ratings higher than 90 closed "Outperform" picks on BAC today. A quick check of that stock's "Scorecard" page here reveals that the large majority of All-Stars with active picks in this stock are still bullish on it, but I interpret the Alert as meaning their enthusiasm for this outfit is waning. So my disappointment in seeing my own "Underperform" pick in it lose points today is moderated somewhat.

This raises an interesting question. Namely, how comparable to "Insider Trading" stats are the stats available here are on All-Star picks?

Comments, anyone?

3 Comments – Post Your Own

#1) On May 06, 2009 at 12:36 AM, uclayoda87 (29.46) wrote:

The percent of active picks is not that helpful when you consider that if a pick is losing, an All-Star may continue to keep the pick open on the off chance that something happens to shift the stock back to a positive direction.

I had a small pharm stock which I was losing badly on.  News broke that their new drug got rejected by the FDA and the stock crashed, sending my points on that stock from -60 to +70 in one day.  I then closed the position.

If you want to follow what the All-Stars are doing, the daily picks are probably more helpful, especially if you sample it over a week.

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#2) On May 06, 2009 at 12:54 AM, motleyanimal (93.75) wrote:

In real life I closed BAC some time ago, but I am holding BAC in CAPS since it is close to a 200% gain for me and could be a 300% gain in another year or two.

It will probably outperform the S&P for a very long time, but I know when to take profits.

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#3) On May 06, 2009 at 7:53 AM, rd80 (98.69) wrote:

There was a report on the news this morning that BAC will need to raise $35 billion as a result of the stress test.

If true, your red thumb should work out just fine.

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