Thursday, July 22, 2010
I've been long BANR for the last couple weeks or so since the stock issuance and massive insider buying at $2, followed by a slight move up out of the 1.90-2.10 area. If you aren't long already, this may be a good spot to pick it up around 2 without risking much. I was hoping for a nice sector short squeeze in regional banks to help my position, as occurred in Jan and Apr of this year, but the mini-sector-squeeze fizzled out pretty quickly this time. However, I'm still following my plan on holding BANR for a big move.