bank of America- Going Goin Gone- short to 3.5

Quote from myoffices:

I believe that BAC has a lot of things to answer to. Its listening to the client and much of their revenue schemes will be uncovered. John Thane will have company very soon. BAC needed that $5 fee and now they don't have it they will not be able to meet earnings.

More loans to be underwater as prices drop another 20%. BAC ate some bad stuff and its only a matter of time the ring worms start to show. They will be the sacrificial lamb. It may run to 8 short term but it will reverse thereafter when the hype dies down.
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This has been a clear a case of consumer revolt. The political leadership is not backing them, BAC is on its own. People still remember being kicked out of thier residence due to Alt A mortages. I am sure Ex-Lehman people will feel vindicated if BAC takes a big hit. My question is how many shares does A. Mozillo have right now?

Welcome to Planet Misery,

Akuma

BUY MORE GOLD!!!
 
Quote from THE-BEAKER:

short interest is massive on stocks and indexes around the world.

all the rallies are short squeezes.

wonder why we aint going down at the moment.

mutual funds and pension funds stocks holdings are still very large.

normally they would get out but its almost as if they have been told not to.

once these guys start dumping every hft / algo is gonna front run the whole move down.

1500 to 2000 points i reckon.

i think they are holding on for qe3 from bernanke or a deal out of europe.

they must be sweating though - time is running out.
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Sounds about correct. The market player need QE3 to be official so that they can point the finger at someone. A 10% correction would take alot of the financial contagion out of the market. There are many forces at work to take the fluff out and get back to the hard money. The banks are going to be prime targets for the shorts there are too many reasons. If thr EU can not stave off the mess by Monday there will be alot of speculation of a new bear trend. The HFT and algo traders can move the market in any direction they want to. I did not forget about the flash crash in '09 everbody head turned and the circut breaker did not act fast enough. I will never forget the charts from that day ... it was art work. On that day I hit the buy button about 2 sec. after the bottom struck. It is on my record as with any trade I made. I will be waiting to scoop it up on the bottom again when the time is right. BAC need to clean it image up it will take time. If they manage to stay out of the headlines long enough, things will work out. Similar to the Firestone tire incident it is a non issue now.

Welcome to Planet Misery,

Akuma

BUY GOLD!!!
 
If the stock falls below margin levels BAC will find cash to park its stock in. They have the US Govt pocket book to back them up. Now lets not ever forget that from levels of @ 3- 6 is 100% on your investment plus a small dividend means that the investors who are able to bear 10% downside risk from the bottom will make money. 3 to 2.70 then back to 6.

Most people forget that after you short a stock you can buy it back for the ride up again. Buy low Sell High. And not necessarily in that order. Hit your target then get out this beast has teeth. Trust me BAC is a formidable opponent. They will be in business but at what levels pick it right and you can eat off BAC for years to come check the trend.
 
Quote from riddler:

I just sold some assets ( home) and have 225k in a checking account at Bac..my money is safe?
If it does empire, I have to divide the 225k into 3 different checking accounts at Bac ?
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If you hold at the banks multiple account the protection is not per account but per client. So if you have money which is more than the protection level then you have to keep the balance at another institution . Be aware what bank your brokerage firm is using.

Borkerage accounts have higher limits for cash and stock is usually protected under a different criteria. Have you been BORKED lately by a Borkerage firm: -) I like that word. BORKED.

WALL STREET IS BORKING US....
 
When push comes to shove all bets are off. Remeber what happen to GM stock being delisted. They raised some capital relisted and are back to making excuses and wasting investor money again. BAC should be kissing babies and cleaning the homes of thier mortage holders.
The public could turn real sharp on the them as well as the investor class. They should reduce head count and offer new products and services to consumer at no cost to keep existing bussiness. If they chose to take low road they will eaten alive the the credit union industry. Geting back to primary banking services and old school accounting standards would bring back some credilbiltiy.

Welcome to Planet Misery,

Akuma

BUY MORE GOLD!!!
 
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