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Best Stock This Week: 65% gains on Bank of America (BAC)

Today's Financial News - Posted March 13, 2009

Bank of America (BAC) nets out 65%-plus gains for HSC members…

by J. Christoph Amberger

Baltimore—TFN: The banking sector went on a wild ride. The stock market was doing its best to end the week with a four-day winning streak when TFN option guru Andrew Snyder decided that enough was enough. He locked in gains this afternoon.

(It’s not like we’re greedy or anything…)

For one, in this highly volatile market, it’s plain dangerous to sit on profits over any weekend. Who knows what will happen in the next two days? Or in the next hour? Thanks to Bank of America’s (NYSE:BAC) fabulous run this week, our HSC position in this stock was up over 60%. Those kinds of gains are too large to risk in this unpredictable environment. We needed to lock them in and move on.

I know a lot of subscribers got in on this play at prices even lower than our “official” price… but we were happy to log a 65% gainer by the time our subscribers had a chance to react to our sell alert.

And: Laura Cadden’s “strong buy” recommendation for a multi-billion dollar industry leader from yesterday was largely unaffected by the late-day drop in the indexes. If anything, you’d have another shot at buying this Hot Stock Confidential exclusive around her recommended entry level.

 

 

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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