Jeff

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Jeff

by Jeff
(West Palm Beach, Fl)

I've got 28,830 shares of Bank Atlantic (BBX) bought at an average of $1.91 and I'm searching the internet daily for some hope or news that sheds some positive light for it's recovery. Any ideas or theories on the direction of this stock? Thanks...

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Jeff

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Mar 04, 2010

Stock Simplified Writes
by: Shaun

I took a look at BBX and saw that it has been tanking even while the rest of the market has been showing strength, a very bearish sign. This means there is not a lot of buying pressure for the stock.

Fundamentally it also looks pretty weak, the MSN StockScouter gave it a rank of 1 out of 10, that is bad news from a fundamental standpoint.

It seems to have leveled off for now, but only time will tell exactly what will happen. If I had a gun to my head and forced to pick a direction I would say that it will probably continue sideways until it eventually breaks lower and continues its downtrend.

I?m not giving any advice, but I would be very surprised if it went back up, at least in the short term.

You might want to ask yourself if there was any reason that you got into the stock in the first place and if there were, are those reasons still valid.

If you do still believe in the company you might want to scale back, a lot. 28,030 shares of a stock at $1.91 is over $55,000. Unless you have a million dollar account that is not something you can afford to lose.

The standard rule of thumb is to never risk more then 2-5% of your account on any one position, the riskier positions you are getting into the more valid this is.

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Mar 04, 2010
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Submitted by: Shaun

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I took a look at BBX and saw that it has been tanking even while the rest of the market has been showing strength, a very bearish sign. This means there is not a lot of buying pressure for the stock. Fundamentally it also looks pretty weak, the <a href="http://moneycentral.msn.com/detail/stock_quote?Symbol=BBX">MSN StockScouter gave it a rank of 1 out of 10</a>, that is bad news from a fundamental standpoint. It seems to have leveled off for now, but only time will tell exactly what will happen. If I had a gun to my head and forced to pick a direction I would say that it will probably continue sideways until it eventually breaks lower and continues its downtrend. I?m not giving any advice, but I would be very surprised if it went back up, at least in the short term. You might want to ask yourself if there was any reason that you got into the stock in the first place and if there were, are those reasons still valid. If you do still believe in the company you might want to scale back, a lot. 28,030 shares of a stock at $1.91 is over $55,000. Unless you have a million dollar account that is not something you can afford to lose. The standard rule of thumb is to never risk more then 2-5% of your account on any one position, the riskier positions you are getting into the more valid this is.

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Mar 04, 2010

BBX
by: Anonymous

Thanks for the comments. I too share you sentiment but am still slightly hopeful the south Florida property market will plateau soon and eventually, begin a recovery. (I guess I'm too emotionally attached to the area...). Also, I know it's a large chunk of cash tied up but it wouldn't be devistating if I lost it all. I'm also hoping for one of the completely random upswings it's experienced (August 2009 and January 2010) both of which surged higher than my $1.91 average purchase price. I'm confused and really couldn't find any reason for the upswings but I'll take what I can get and dump the position (break-even) if the chance arises again. Thanks again for taking a look at it. Take care...

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Jeff

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