BAC last bid 4.98, S&P downgrades 37 global banks...

No worries for Buffett. He'll state that there hasn't been a material change in the fundamentals.... and magically there will be no MTM loss on the position.
 
Quote from iceman1:

i am going to get out of this crap shit market; for 6 years I stayed away. Sorry I got involved again. The USA is now a total joke. Bunch of losers running the government while greedy, ignorant and incompetent pigs run banks

Just bought some fucking GS at 90. G-damn it !! LOL

I have puts so some of it is hedged. But I have had it with the ass wipes at S&P waiting until after the market is closed to downgrade this crap. Wonder who they leaked inside info to this time, g-damn corrupt pricks. You can't even hold a position overnight anymore, and I am not a fricking day trader so this is not the market to take positions home.

Total waste of time and money playing in these crap markets.
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One man's capitulation is another man's buying signal.
 
The 4.98 BAC print was what prompted this mornings bailout. Today was going to be a bloodbath and the central banksters knew it. Its funny how the gummint will do anything and everything to save the banks but nothing to save jobs.
 
Quote from thesniper:

The 4.98 BAC print was what prompted this mornings bailout. Today was going to be a bloodbath and the central banksters knew it. Its funny how the gummint will do anything and everything to save the banks but nothing to save jobs.
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lol, no, it was the downgrade. This was in the works for weeks awaiting the forced-downgrade. Do you really think this was coordinated overnight because BAC traded under $5?
 
Quote from atticus:

lol, no, it was the downgrade. This was in the works for weeks awaiting the forced-downgrade. Do you really think this was coordinated overnight because BAC traded under $5?
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Not clear what you are saying...but it does seem to me that the co-ordinated action coincided quite well with the multiple downgrades of banks, in particular the foreign banks. Heck, we've had more than three months of bullshit from the Eurozone about ECB, EFSF, IMF intervention and now, all of a sudden, we see this.
 
Quote from mister_doodi:

One man's capitulation is another man's buying signal.
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yep

kick me real hard in the ass...! please!!!!

need a f-cking vacation, burnt out and losing my mind with all this volatility, uncertain economic and world news, blah blah blah !!

I have no idea how to handicap this insanity anymore. gonna start relying on luck when I hold positions.

Damn.. I had bullish put spreads + long call + GS stock. never figured it to go higher. sold stock

of course now there's another g-damn gap to resolve. gonna short some, unless some confirmation this is a runaway gap.
 
Quote from atticus:

lol, no, it was the downgrade. This was in the works for weeks awaiting the forced-downgrade. Do you really think this was coordinated overnight because BAC traded under $5?
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Then why didn't the us downgrade happen this time around?
 
Quote from denner:

Not clear what you are saying...but it does seem to me that the co-ordinated action coincided quite well with the multiple downgrades of banks, in particular the foreign banks. Heck, we've had more than three months of bullshit from the Eurozone about ECB, EFSF, IMF intervention and now, all of a sudden, we see this.
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I'm stating that it was done to coincide with the inevitable downgrade... not something as arbitrary as BAC's trade <$5. These things take days, a week.....
 
Quote from diablo11:

BAC's a buy now. In my opinion if that matters.
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Please do tell. Stock is now down 2% - 3% from it's spike higher today. This is a dog and appears to be readying to make a big push lower... Today's distraction hasn't solved anything for BAC.
 
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