If you are a day trader or a short term swing trader you can't chase ANY stock, especially a bank stock in this market. That is unless you have a death wish or some other masochistic goal in mind.
A trader and visitor to Guerilla Stock Trading.com asks, "Should I buy Bank Of America (BAC) next week?"
My answer is no if you are a short term trader, but yes if you plan on holding the stock for many months or even a year.
In the video below, I explain the difference between short term guerilla trading and long term investing. I also show the best way to apply each strategy to Bank Of America (BAC).
Buy low and sell high is a fool's game. Buy high and sell higher is where the money is at; however, don't confuse that strategy with "chasing" a stock. It's very easy to chase a stock when you are using a buy high, sell higher strategy. In the video I explain how to avoid this very common mistake.
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Guerilla Stock Trading University