Varchild Dumps his BAC Shares in favor of another bank
Yes.... Not going long on BAC afterall. But, this is as I mention often one method I use especially if I have a good sizeable profit. If I eyeball another stock in the same sector that I simply prefer over the stock that I have (BAC) then guess what? I'll dump BAC and I will throw some of the cash into that other BANK that I prefer.
I am doing a with-in sector trade to go long on a different bank I feel more comfortable going long on.
Trading out of a TARPed bank in favor of a Bank that has already gotten rid of their TARP.
Am I making a mistake? Maybe... But seeing that I don't do any business with BAC and I do have a savings account in this other bank that I prefer.... I see no problems with the switch-out.
I think this other bank has room to grow while BAC is going to be stuck at $14 as a ceiling for awhile.
I want to raise the ceiling and to do so I must perform a swap.