Tuesday, April 21, 2009

Bank of America

The Psychology of the Call team has been inundated by computer viruses (greetings from the local library!). Hopefully we'll be able to resume normal service Tuesday morning after a number of thorough and deep disk cleanings. (By the way, if any of our loyal subscribers are tech savvy and can suggest a downloadable anti-virus program that goes where Symantec seems unwilling to go, could you please send an e-mail to psychologyofthecall@gmail.com; your help will be very much appreciated.) Until tomorrow, we leave you with a quote from the blog last week related to Thursday's psychology and invite you to consider the chart of BAC below. Admittedly our timing was off by two days because of unexpected developments, but our understanding of this extended Bear market was correct. "The 109 point Dow move felt like 1,009 points, but PLEASE don't be fooled, as most bank stocks will close their 15% - 30% gaps Thursday and Friday. BAC is the best example of this irrational witch. Bear markets rip, tear, and maim long and short positions, but especially during options expiration week, as witches use their ironclad broomsticks to bloody bears and bulls alike."

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