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I have had a Bank of America (BAC) dividend reinvestment plan for several years now. I've lost a bit over $2k in it. Today, I sold all but 8 shares of the DRIP. I locked in a price of $13.23 per share.
I decided to sell since:
(1.) Worst case assumptions for bank stress tests have already been exceeded.
(2.) Money supply is fading
(3.) The stock is up 325% after hitting the bottom.
It's time for it give back some of its gains.
Tuesday, June 16, 2009
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