Don’t Buy Bank of America Stock Until You Read This

Let me set the record straight, I'm not recommending Bank of America. I don't really care to think about Bank of America's technical analysis much. A trader asked me today what I thought about the stock and so I put together this technical analysis video.

[youtube ZXR12ui8a64]

I see nothing wrong with buying Bank of America, going for a 2 - 5% move in 2 to 5 days, then jumping out. If you set a tight stop anywhere between $8 to $8.27 in case the trade goes against you, you should be fine.

Again, this is a very short term play and while I'm not personally recommending it, I see little wrong with any day trader that wants to go for it.

Everybody always wants to steal the charting software I use in my videos. Click here to find out how to get your greedy hands on it :)