Bank of America (BAC) is reportedly in advanced talks to by Countrywide Financial (CFC).
This is in direct contradiction to Dennis Gartman‘s #1 rule of trading:
1. Never, Ever, Ever, Under Any Circumstance, Add to
a Losing Position… not ever, not never! Adding to losing positions is
trading’s carcinogen; it is trading’s driving while intoxicated. It will lead to
After that initial disastrous buy in at $18-20, BoA is doubling up — at $6 . . .