Cramer Says Cut Losses On BAC - Calling a Bottom
Submitted by lucas20 on Wed, 11/28/2007 - 14:52.
When Cramer steps up and says its time to cut your losses on a stock (like he did with Bank of America on Monday), does that signal a buying opportunity? Is it not the perfect Cramer contrarian play? We'll see how this plays out through the end of the year. At the open of Wednesday's action, BAC is up over 2% since the call.
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That 2% pop was your sell opp...
I did I just make a rhyme about losing a dime?
He said he would sell sell
He said he would sell sell sell....
He likes the stock but not the sector...for the average joe (his target audience), he is suggesting they stay away...for now. My guess would be that hedgies are pushing this stock up...
So I guess I would say that your 2% rally may be selling opp! Perhaps half your position, and then if it rallies more sell the rest...or you can sit and hold for that div. that might not even pay!
Well
well it certainly wasn't the bottom