I was quite public about my sale of Bank of America (BAC) in the low $29’s because of my lack of faith in the merger with Merrill Lynch.

I was “right” for a minute or two, then I was “wrong” when they banned short selling and now “right” again because of the earnings, dividend cut and capital raising.

Well, no, that is completely bogus. The timing clearly turned out to be unlucky. When you sell something that thing will either go up or go down after your sale.

In the video over the weekend I conceded the timing was poor (which it was) but if you couldn’t tell I wasn’t too worked up. I sold for a fundamental reason; lack of faith in the merger. That could be wrong, the merger might work very well but I will not be right or wrong for months.

When something needs to be sold, regardless of the reason (fundamental, rebalance, profit taking, panic) sell it but it doesn’t make sense to get too happy when a sale is right or too upset when a sale is wrong because you will have some of both.

Last 5 posts by Roger Nusbaum

• The Big Picture for the Week of November 15, 2009 - November 14th, 2009
• Process Drilldown - October 23rd, 2009
• Sunday Morning Coffee 10-18-09 - October 18th, 2009
• A Little Followup From This Morning - October 8th, 2009
• Wednesday Roundup - October 7th, 2009