Anyone know what preferreds BAC is looking to buy back? Have they released a conversion matrix yet like Citigroup did a cpl years back? It looks like its the BML series of preferreds by market action....
BAC preferred buyback
- Thread starter mastertrader456
- Start date
The shares of BAC are going lower and when it does the preferred drive the price down even further. Especially the convertible preferred to which you are probably referring to. In the event of default the preferred gets first payment. BAC wont go out of business but the road ahead is paved with the Blood of BAC executives who will be lynched by the Obama administration for all their wrong doings.
Convert the preferred take a quick run from 6- 8 then lower the float and increase the earnings per share by decreasing the #s per share.
50k layoffs coming as well they are fighting for their lives.
They are fighting like hell to keep above 6 and they need to keep the price above a certain price to keep it in institutional hands.
I believe if you check the Short Interest (Bloomberg- function SI) you will see the short interest go through the roof. It could be 3 by February.
BAC is doing some funny accounting especially with the FHA loans. They return partial payments on people who are late then charge fees without applying those payment to the fees and then compound this into the interest payments which is a NO NO---
BAC is going down as The AMERICAN People will want it to be the sacrificial lamb. make money buy puts and watch it fall.
Convert the preferred take a quick run from 6- 8 then lower the float and increase the earnings per share by decreasing the #s per share.
50k layoffs coming as well they are fighting for their lives.
They are fighting like hell to keep above 6 and they need to keep the price above a certain price to keep it in institutional hands.
I believe if you check the Short Interest (Bloomberg- function SI) you will see the short interest go through the roof. It could be 3 by February.
BAC is doing some funny accounting especially with the FHA loans. They return partial payments on people who are late then charge fees without applying those payment to the fees and then compound this into the interest payments which is a NO NO---
BAC is going down as The AMERICAN People will want it to be the sacrificial lamb. make money buy puts and watch it fall.
Bank of America Corporation
$ 6.05
BAC
-0.17
Daily Short Sale Volume - NEW
view
Short Interest (Shares Short)
189,889,800
Days To Cover (Short Interest Ratio)
0.7
Short Percent of Float
view
Naked Short Selling List - NEW
view
Short Interest - Prior
201,261,800
Short % Increase / Decrease
-5.65
Short Squeeze Rankingââ¢
view
% From 52-Wk High ($ 15.31 )
-60.52 %
% From 52-Wk Low ($ 5.13 )
17.84 %
% From 200-Day MA ($ 10.37 )
-41.71 %
% From 50-Day MA ($ 6.56 )
-7.85 %
Price % Change (52-Week)
-50.04 %
Shares Float
view
Total Shares Outstanding
0
% Owned by Insiders
0.04%
% Owned by Institutions
60.10%
Market Cap.
$ 0
Trading Volume - Today
138,386,061
Trading Volume - Average
278,070,200
Trading Volume - Today vs. Average
49.77 %
Earnings Per Share
0.00
PE Ratio
0.00
Record Date
2011-NovA
$ 6.05
BAC
-0.17
Daily Short Sale Volume - NEW
view
Short Interest (Shares Short)
189,889,800
Days To Cover (Short Interest Ratio)
0.7
Short Percent of Float
view
Naked Short Selling List - NEW
view
Short Interest - Prior
201,261,800
Short % Increase / Decrease
-5.65
Short Squeeze Rankingââ¢
view
% From 52-Wk High ($ 15.31 )
-60.52 %
% From 52-Wk Low ($ 5.13 )
17.84 %
% From 200-Day MA ($ 10.37 )
-41.71 %
% From 50-Day MA ($ 6.56 )
-7.85 %
Price % Change (52-Week)
-50.04 %
Shares Float
view
Total Shares Outstanding
0
% Owned by Insiders
0.04%
% Owned by Institutions
60.10%
Market Cap.
$ 0
Trading Volume - Today
138,386,061
Trading Volume - Average
278,070,200
Trading Volume - Today vs. Average
49.77 %
Earnings Per Share
0.00
PE Ratio
0.00
Record Date
2011-NovA