I stress fundamentals first ... charting, and models second ....
The 2009 "tax loss" selling, and end-of-the-year "re-positioning" by mutual funds in 2009 generated tonnes of cash ... which is now being fed back into the market ... and hence fueling this rally. Shorting into an on going market rally is a money losing proposition. Second, based on the fundamentals, like Book Value (BV) and Tangible Book Value (TBV) (to name two of my favorites), I would NOT short BAC:
Bank of America Cor… More
|Price Change Today||-$0.18 (-1.08%)|
|Daily Range||$16.02 - $16.10|
|52-Week Range||$13.60 - $18.03|