STOCK MARKET UPDATE: BANK OF AMERICA RETURNS TO PROFITABILITY.
Bank of America returned to profitability in the first quarter as the Bank was able to move beyond its legal troubles last year. The consumer banking giant earned $2.98bn after payments to preferred shareholders compared with a loss of $514m a year earlier.
On a per-share basis, thebank earned 27cents compared with a loss of five cents a year earlier.
What lessons for the Investor?
As it is now, I will advised profit- oriented investors to invests in the company for a long term trading. This is because the banking economic outlook favors the Bank of America.
Trading Tips.
1.Buy only fundamental strong dividend paying stocks. You will never loose out. The annual dividends and bonuses from the company can act as a solace while investors are waiting for the market to turn around incase the market is flat.
2.Pick a basket of stocks, watch there daily trading patterns in terms of their trading high, low and close of the day.
3.Avoid stocks of questionable companies with weak fundamentals or business operations.
The stocks of this company are usually speculative stocks which take the hardest beaten in tough market conditions. Furthermore they are usually the last to recover after a severe market correction.
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