Bac

JPM to take over BAC- Makes the most sense. A per share deal and they all get into the OBAMA noah's ark. The share holders get shafted and then we move on. The next step is simple the rebuilding of wealth.

I blame the Venture Capital Private equity for their lack of action here. If YOU are watching this post please tell congress to freeze the management fees of the VCs who are sitting on the assets and riding the wave of the asset fees. If we could free those billions of assets and allow them to pick and chose their own stocks maybe we could get some traction.

Someone asked me recently where is the money. Where is all the money made from the shorts? BAC is on the block the next wave of tarp will show you who gets BAC. If Citi can hold on then it will survive.

BAC has to go since it has CFC and MER in its belly and this is a major portion of the most toxic assets on the table.
Its a free for all after they create the bad bank.
 
Going long BAC in the face of what the stock is telling you, is gambling, imo, and gambling poorly. The stock goes down no matter what the market is doing. It is now less than five dollars, and losing percent value daily in multiples of 10.

I estimate a delta of going to zero at this point, 80.
 
Quote from nitro:

Going long BAC in the face of what the stock is telling you, is gambling, imo, and gambling poorly. The stock goes down no matter what the market is doing. It is now less than five dollars, and losing percent value in multiples of 10.

I estimate a delta of going to zero at this point, 80.
More...

i'm a daytrader...
just sold some more (5% of overall position) 4.52. but holding on to 65%, next 5% sell order at 4.58...
this squeeze could easily bring it into positive area and then maybe even 5$ are not impossible.

stop is at 4.09, avg entry 4.07162.
max risk was 2'000$, already took 2'000 in profits off the table, and some 5k in unrealized right now.
we'll see...

prob of going to zero (or something below 2$ as a tip from obama) is 80%, that's right, that's why it's trading where it is...
 
I'd say closer to 50/50 of going under $2.

Hopefully they have this bad bank plan set up early next week.

Unless they nationalize or essentially nationalize BAC, it's going to pop BIG at the first hint of a real plan. The problem now is uncertainty.

I'm betting on BAC; just took a moderate position on it today at around $4.30. It's back up to $4.60.

You're right, it could go to $0. It could also go to $10. I'd say next week will be the decider. $10/$2 over/under? I'm taking the over.
 
Rumors of suspending mark to market making this stock a bit feisty. I covered. The rules change daily on these.
 
Its risky but I think it goes above 5 for the weekend. It cannot go out so soon. Im on the limb here. Longer term its gone but for now a quick trading level could be worth the risk...

On 10,000 shares its worth the risk versus reward... 1/4 point move three trades. Not a bad month... 4.5 to 4.75. not a bad move.
 
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