I had previously wrote back in Sept 2011 that I was bullish on Bank of America. You can read the post here…
The stock of course, steadily declined for the next few months before hitting a low below $5. I continued to purchase and trade around my core position, and due to increasingly favourable news, the stock now trades above $8. It’s a long term purchase so I’m not too excited about the run-up it’s had so far this year but I am glad to see some gains on the position.
Another down beaten sector of stocks is natural gas stocks which of course is coinciding with the precipitous drop in natural gas. I’ve entered into a small position into one of Canada’s largest natural gas companies and I as get a better feel for the industry I’ll either exit or add to my position. I will post updates on my thoughts as we go along.
Disclosure: Long BAC, ECA