How to Trade Bank of America

You can't ignore what the market is telling you. Too many times traders, myself included, reach a point where they believe they can impose their will on the market. Whether you try via buying and buying and buying until you've oversized your positions or you simply stare at your computer screen attempting your best Jedi mind trick. The best you can hope for is a headache, but in most cases it will cost you emotional capital along with actual, investable capital.

While the market may be baring its bear teeth today, it's hard to ignore the action in Bank of America (BAC) . It's not alone either as Wells Fargo (WFC) and Citigroup (C) are finding buyers. Still, I prefer BAC here as it is on the cusp of a strong breakout. The stock is trading just above resistance as well as hitting 6-week highs. Momentum and trend are full on bullish here despite the market faltering a bit. I would prefer to see a bit more volume here, but if BAC can push above $31.25, I have a quick move into the $32.50-$33 range on my mind....170 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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