Seeking Alpha
  • Justin M. Hall
    10/23/12 1:07P ET: { Heads Up } Before breaking out above $10, BAC will likely revisit $9 (+/-) between now and Election Day.
    10/23/12
    Reply (32)
    • Justin M. Hall: In the coming weeks, I expect BAC to break above $10 and reach new highs.
      10/23/12
    • Justin M. Hall: From now to Election Day, options investors should consider adding and/or building positions in May 2013 and January 2014 n-t-m calls.
      10/23/12
    • Justin M. Hall: BAC should be viewed as a longer-term position. If you own the stock, be patient and stick with it.
      10/23/12
    • weed: "new highs" > 50 ?
      10/23/12
    • Justin M. Hall: Over the past couple of months, I have covered BAC here (see Parts 1 and 2): http://bit.ly/Pga3OH
      10/23/12
    • Justin M. Hall: You're killing me weed. I didn't say all-time highs. I outlined my case at the link above.
      10/23/12
    • weed: I will read your article Justin. If BAC were to hit 50 I would never be heard from again.
      10/23/12
    • joe kelly: Should Romney win and bac do what Justin say it will my last comment on his thread will be in homage. He's been an oracle on ugaz.
      10/23/12
    • Justin M. Hall: Hahaha! You and I both Weed! :-) Thank you Mr. Kelly.
      10/23/12
    • Buddaus: Justin your my boy.. But I think we dont go much lower. Weve been holding solid and nasty sell offs. Banks have been a bright spot with
      10/23/12
    • Buddaus: earnings, and I think people will start putting money into them..
      10/23/12
    • Justin M. Hall: Buddaus, you may be right (and I hope you are). Since I view BAC as a longer-term position, my outlook is probably a bit conservative.
      10/23/12
    • apeterson8809: On every "DIP" I keep adding; BAC & AIG. Justin, (j/w) do you have an opinion on AIG?
      10/23/12
    • David White: Justin I don't pretend to be an expert on BAC. However, you need to remember that the Fed has been lowering mortgage rates for some time.
      10/23/12
    • David White: Mortgage rates are about as low as they are likely to get (perhaps a bit more). That means refinancing revenues should go down dramatically
      10/23/12
    • David White: over the next year or so.This will cut into banks profits.Then there is the fiscal cliff, tax-maggedon, and a needed raise of the debt limit
      10/23/12
    • IronmanVR4: How does Fed suing BAC for mortgage fraud effect your thinking of BAC if any?
      10/24/12
    • David White: Did you see the news that the US government is now suing BAC for at least $1B for misrepresenting the quality of loans it sold to Fannie
      10/24/12
    • David White: and Freddie?
      10/24/12
    • Justin M. Hall: David, yeah I caught that - not overly concerned about it.
      10/24/12
    • Justin M. Hall: Regarding interest rates: (1) Via QE3, the Fed will keep interest rates low by purchasing 10-year T-bonds through 2015.
      10/24/12
    • Justin M. Hall: (2) That said, the banks make more money when the rates are higher, not lower.
      10/24/12
    • Justin M. Hall: Housing just bottomed. So, we're just beginning a [new] cycle which should last for approximately 5 years.
      10/24/12
    • Justin M. Hall: Looking Ahead: IF / When Romney prevails on 11/6/12, BAC (and other banks) will rally. Why? Continued below.
      10/24/12
    • Justin M. Hall: Romney has pledged to unwind key components of Dodd-Frank. In addition, the excessive Basel III capital requirements will likely be lifted.
      10/24/12
    • Justin M. Hall: BAC's cash per share of common stock = $33. Shares are trading sub-$10. Book value is another important metric. $20 puts BAC at 1X Book.
      10/24/12
    • Justin M. Hall: Set the fundamental stuff aside. Going forward, it's all about the election. Romney = reasonable deregulation. That's a good thing.
      10/24/12
    • Justin M. Hall: But the chart really says it all. BAC is currently forming a flat base. Shares will break above $10 sooner than later.
      10/24/12
    • Justin M. Hall: The only assurance I can provide others is my proven long-term track record. I stand behind my call. BAC should be bought under $10.
      10/24/12
    • Justin M. Hall: Let me add one other thought. Most investors are way too negative and pessimistic. This blinder will result in missed opportunities.
      10/24/12
    • Justin M. Hall: GDP should begin to tick back up in Q4. The broad market sell-off won't last. Investors should anticipate a Romney Rally in November.
      10/24/12
    • Justin M. Hall: I'm not predicting the future. Let's see how it plays out. BAC remains a buy while trading under $10.
      10/24/12
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