LOL. I agree.
How could anyone believe any CEO at this point (especially the banks and brokers)?
Bac
- Thread starter apitrader
- Start date
LOL. I agree.
How could anyone believe any CEO at this point (especially the banks and brokers)?
I would hope those that made a trade yesterday on our backs at least say thanks. Its all about confidence. But its the weekend and here is how you play it. Take half or 3/4 off the table. take the profits..
On monday revisit the trade. Trust me on this the market will eventually goes higher but it will also go lower short term. Thats why its called trading....
Have a great weekend.
On monday revisit the trade. Trust me on this the market will eventually goes higher but it will also go lower short term. Thats why its called trading....
Have a great weekend.
Kinda off topic, but I'm watching BAC and I'm wondering if there is an online source of streaming news I can tap into?
I'm just going off order numbers and charts... I need the news.
I'm just going off order numbers and charts... I need the news.
Excellent short opportunity.
5 minutes ago Lewis says B. of A. 'categorically' needs no more TARP money - Not sure I believe it
6 minutes ago B. of A.'s Lewis has no long-term regrets on Merrill buy - This might be true. Hasn't been long-term yet
7 minutes ago B. of A.'s Lewis 'sorry' that firing Thain had to happen - I don't believe this
8 minutes ago B. of A.'s Lewis: Countrywide "on fire" with mortgage refis - I believe it
14 minutes ago B. of A.'s Lewis: Feds advised against scrubbing Merrill buy - I definitely believe this
16 minutes ago B. of A.'s Lewis: Merrill losses accelerated in mid-Dec. - Obviously true
17 minutes ago B. of A.'s Lewis hopes to pay gov't money back in 3 years - I believe it could happen.
18 minutes ago B. of A.'s Lewis: No gov't officials talked nationalization - I definitely believe this also
6 minutes ago B. of A.'s Lewis has no long-term regrets on Merrill buy - This might be true. Hasn't been long-term yet
7 minutes ago B. of A.'s Lewis 'sorry' that firing Thain had to happen - I don't believe this
8 minutes ago B. of A.'s Lewis: Countrywide "on fire" with mortgage refis - I believe it
14 minutes ago B. of A.'s Lewis: Feds advised against scrubbing Merrill buy - I definitely believe this
16 minutes ago B. of A.'s Lewis: Merrill losses accelerated in mid-Dec. - Obviously true
17 minutes ago B. of A.'s Lewis hopes to pay gov't money back in 3 years - I believe it could happen.
18 minutes ago B. of A.'s Lewis: No gov't officials talked nationalization - I definitely believe this also
Veteran banking analyst Richard Bove said Bank of America is not in danger of failure as the U.S. government is committed to keeping it in business.
Investors believe that this bank is about to fail and be nationalized by the United States government," Bove, an analyst with Ladenburg Thalmann, wrote in a research note Thursday.
He said those fears "make no sense whatsoever," and he rates BofA's shares a "strong buy."
Investors believe that this bank is about to fail and be nationalized by the United States government," Bove, an analyst with Ladenburg Thalmann, wrote in a research note Thursday.
He said those fears "make no sense whatsoever," and he rates BofA's shares a "strong buy."
I'm long at 4.00.. This is a binary bet. It is either worth nothing, or worth 30.00-50.00 2 years out.
Lots of ifs for each case:
1) nationalization and continued insolvency = 0.
2) removal of mark to market, ending the self-reinforcing writedown spiral. Successful reflation from fed/treasury = 30-50.
If I had got in yesterday I would continue to hold it long and continue to move my stops up. But, I will have to wait a few more days to see about getting in long now.
28% in one day is pretty euphoric IMO... But My god that volume jump is incredible.
FITB up 54% as I type