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Bank of America Selloff Accelerating On Heavy Volume

Tyler Durden's picture

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Tue, 07/19/2011 - 11:34 | 1470357 the not so migh...
the not so mighty maximiza's picture

jumping out of window bitchez

Tue, 07/19/2011 - 12:53 | 1470739 fuu
fuu's picture

Always worth a listen. Thanks SD-1.

Tue, 07/19/2011 - 11:37 | 1470358 SparkySC
SparkySC's picture

How long until JPMorgan is 'gifted' BAC for 1.88 Billion in a rigged bidding process?

This reminds many of the WaMu and Lehman situations. 

Watch for Corruption at the highest levels again.


This is Rinse and Repeat business as usual in this Ponzi-Land called Wall-Street.




Tue, 07/19/2011 - 11:39 | 1470387 Thomas
Thomas's picture

About ten minutes

Tue, 07/19/2011 - 11:49 | 1470445 Boston
Boston's picture

Right after JPM is gifted Morgan Stanley.

Tue, 07/19/2011 - 12:12 | 1470570 karzai_luver
karzai_luver's picture

give bac to Jamie.

Anything to see that failure and scum taken out like the shitty

garbage they are.

then we can go to work on Jamie.


They will fall as well, Jamie didn't want the crap either.


gentlemens C for shill-is-ity.



Tue, 07/19/2011 - 13:19 | 1470850 Spitzer
Spitzer's picture

Why is it that anytime JPM does a big deal or makes the news, there is always a picture of that schmuck Jamie ?

He is an overrated, attention whoring douche bag.

Tue, 07/19/2011 - 11:35 | 1470360 TruthInSunshine
TruthInSunshine's picture

To add insult to injury, the highly credible Moody's credit rating agency firm (/sarc as to credible, and in this case, if only because they soft pedal the negative so incredibly) has this to say about "all 50 U.S. states":

When do individual U.S. states get tossed/leave temporarily (or permanently) from the protective umbrage of the United States of Amerika, and when does their debt trade at even more incredibly apeshit insane levels/valuations?

Tue, 07/19/2011 - 11:42 | 1470399 camaro68ss
camaro68ss's picture

Stop being such a bear! This is all bullish news, sometimes you just have to eat your "Peas." This news is just "transitory" and the markets will shoot back up like they always do, its "tradition"

Tue, 07/19/2011 - 12:24 | 1470625 cougar_w
cougar_w's picture


Tue, 07/19/2011 - 13:12 | 1470799 TruthInSunshine
TruthInSunshine's picture

Peas are beyond the reach of most.

What is the official BLS approved substitute for peas?


Hedonic Quality Adjustment in the CPI


And this is not in jest: Real study by BLS:

U.S. Bureau of Labor Statistics

First Quarter 2011

  • Consumer Expenditure Survey: Do two live as cheaply as one? Evidence from the Consumer Expenditure Survey (HTML) (PDF)
Tue, 07/19/2011 - 15:22 | 1471469 R Man J
R Man J's picture

Do two live as cheaply as one?


Yes. There's room in each pod for more peas. "eat your peas" = move in with your relatives.

Tue, 07/19/2011 - 11:35 | 1470361 oogs66
oogs66's picture

yes, but we will still rally hard when they approve the new debt ceiling...mkt is crazy

Tue, 07/19/2011 - 11:36 | 1470366 fuu
fuu's picture

Mark it 0 dude.

Tue, 07/19/2011 - 11:52 | 1470468 EscapeKey
EscapeKey's picture

This is not 'Nam. There are rules.

Tue, 07/19/2011 - 12:33 | 1470648 fuu
fuu's picture

That bank really tied the scam together.

Tue, 07/19/2011 - 13:16 | 1470830 Abitdodgie
Abitdodgie's picture

There are no rules in Amerika , and if you still live by them , well you cant fix stupid

Tue, 07/19/2011 - 11:36 | 1470368 spekulatn
spekulatn's picture

Somewhere a white-haired iTalian feller is laughing hysterically......


PP where R U?

Tue, 07/19/2011 - 11:42 | 1470389 TruthInSunshine
TruthInSunshine's picture

The government, in its infinite pool of genius, arranged a polygamous marriage between BofA-Merrill-Countrywide, and Mozilo drank the milkshake up (i.e. siphoned mucho dineros, while leaving residual toxic waste).


Hey, look everyone! Resource utilization, factory and manufacturing activity and other signs of robust economic activity are looking great in this 3rd Recovery Summer™:


Tue, 07/19/2011 - 11:36 | 1470370 camaro68ss
camaro68ss's picture

Great, so is BofA going to be the first shoe to drop?

Tue, 07/19/2011 - 11:37 | 1470372 TheFourthStooge-ing
TheFourthStooge-ing's picture

I have no sympathy for anyone that knowingly invests in a fraudulent operation.

Lack of due diligence = Sino-Forest

Investing in fraud, expecting more bailouts = See-No-Capital


Tue, 07/19/2011 - 11:37 | 1470376 Silver Bug
Silver Bug's picture

It will eventually be Zero, these zombie banks are worth nothing.



Tue, 07/19/2011 - 12:26 | 1470630 cougar_w
cougar_w's picture

How can they be worth nothing? We piled $6T (with a T)  into them.

Tue, 07/19/2011 - 12:42 | 1470679 SheepDog-One
SheepDog-One's picture

6 trillion pieces of paper? Might come in handy for a bonfire.

Tue, 07/19/2011 - 11:39 | 1470382 Mercury
Mercury's picture

Who's seen some good nitty gritty on these June housing #s ??

Tue, 07/19/2011 - 11:40 | 1470393 Dr. Engali
Dr. Engali's picture

Time for tarp 2

Tue, 07/19/2011 - 12:17 | 1470600 dracos_ghost
dracos_ghost's picture

Was thinking the same thing.

Tue, 07/19/2011 - 20:43 | 1472484 unununium
unununium's picture

Nope, BAC will be nationalized.  Real soon now.

Tue, 07/19/2011 - 11:40 | 1470397 rsnoble
rsnoble's picture

Interesting that all the banks are close to zero, except for one.  You know, the one that does 'gods work'. 

Tue, 07/19/2011 - 12:10 | 1470493 hedgeless_horseman
hedgeless_horseman's picture

You must be talking about the "bank" that is down -24.25% YTD?  That one?

...not the one doing Brigham Young's God's work, that is down -3.8% today?

Tue, 07/19/2011 - 12:43 | 1470683 SheepDog-One
SheepDog-One's picture

The Giant Squid is sucking paddy water.

Tue, 07/19/2011 - 11:41 | 1470401 Oh regional Indian
Oh regional Indian's picture

Those volume spikes look like tongues of flame burning up the bottom out of BAC.

Good riddance. But, of note, when the financials are starting to bleed, they will take the rest down.

This coming friday will definitely be EPIC. Open/Close/Fail, who knows anymore, eh?



Tue, 07/19/2011 - 11:41 | 1470404 SAME AS IT EVER WAS

Bac can eat the plate of shit it has cooked up. Anybody Know whats up with crappel? I wanted to buy the 350 put, but couldnt do it.

Tue, 07/19/2011 - 21:35 | 1472601 SAME AS IT EVER WAS

OH!-so glad I left that one alone!

Tue, 07/19/2011 - 11:41 | 1470405 rfullem
rfullem's picture

dumb question but what is BAC ratings?

Tue, 07/19/2011 - 11:58 | 1470497 hedgeless_horseman
hedgeless_horseman's picture

"Under Survey"

Tue, 07/19/2011 - 11:41 | 1470406 buzzsaw99
buzzsaw99's picture

ah, countryfried was one tasty taco.

Tue, 07/19/2011 - 11:41 | 1470407 gulf breeze
gulf breeze's picture

The financials are bottoming today per Robotart

Check out distribution on WYNN who would have thunk it.  Vegas must be booming lol

Tue, 07/19/2011 - 12:00 | 1470518 buzzsaw99
buzzsaw99's picture

wynn is clearly manipulated. gaps up overnight the last five days. i smell a pump and dump.

Tue, 07/19/2011 - 11:44 | 1470415 WoodMizer
WoodMizer's picture

Can you sense the growing weakness in the farce?

Tue, 07/19/2011 - 12:14 | 1470588 Pladizow
Pladizow's picture

Sense it I can, young Jedi.

Tue, 07/19/2011 - 11:48 | 1470428 LetThemEatRand
LetThemEatRand's picture

On CNBC this morning (don't know why I watch, but sometimes I do), they were actually making the case that the banks are doing terribly because of too much regulation and too much regulation to come.  Meanwhile, the only reason the banks are alive is involuntary taxpayer largesse.  It's really amazing what passes for information and especially "news" these days.  Meanwhile, apparently Vegas is crumbling not because of the housing bubble that caused a boom/bust of great proportions, but because Obama is a "wet blanket."  Of course Obama is a stinking, rotting wet blanket on everything good, but he has nothing to do with Wynn's losses.  What a fucking joke that anyone believes these whores.

Tue, 07/19/2011 - 11:54 | 1470476 Cortez
Cortez's picture

It is almost comical since it was the reduction of lending standards that led to the whole housing debacle, i.e. a reduction in regulations. 

Tue, 07/19/2011 - 20:45 | 1472490 unununium
unununium's picture

Not only do I have to hear it from CNBS itself, but also regurgitated from the mouths of people who watch and believe it.

Tue, 07/19/2011 - 11:49 | 1470430 Sudden Debt
Sudden Debt's picture

Yep, they'll have to delute the stock once again to avoid BK.



a lot of his contributors needs cash again...




Tue, 07/19/2011 - 11:50 | 1470452 LetThemEatRand
LetThemEatRand's picture

Exactly what will happen.  Can't let BofA fail, that would be wrong.  And I love how these guys continuously bite the hand that feeds them in order to give credence to the Tea Party types.

Tue, 07/19/2011 - 11:49 | 1470450 Cortez
Cortez's picture

The one change that has occurred since 2008 is the mindset of those without wealth - they would rather live a simpler life and say F*ck the Joneses.  Those with good credit ratings have no interest in taking on new debt.  They would rather continue to pay off their outstanding loans.  Regular people known damn well that they aren't getting raises for sh*t, that food and gas and utilities and bogus hidden taxes are eating up more and more of one's income.  PT Barnum said "there is a sucker born every minute."  However, when every sucker alive over the age of 20-something has been f*ucked, then it takes a good generation or so to create new "economic suckers."  

Tue, 07/19/2011 - 11:52 | 1470470 RobotTrader
RobotTrader's picture

Once Moynihan resigns,  4 - 5 days worth of shorts could get obliterated in an instant.

Tue, 07/19/2011 - 12:05 | 1470547 francis_sawyer
francis_sawyer's picture

dick Bove & Robo... sittin in a tree...

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