I bought BAC at $40.60?

Question

I bought BAC at $40.60 several months ago. I sold it yesterday for $25.51. I used proceeds to buy SPY.

Would anyone consider "grading" my decision?

Answer 1

well i don't know a h**l of alot about stocks but i'm pretty sure about the buy low sell high. and i'm going to say i think you got that backwards so thumbs down.

Answer 2

Well. I'm not sure the decision was the best. If you had to sell the stocks then you did ok but if you didn't have to, you should have rode it out. BAC is completely deflated because of banking industry and it will go back up eventually.