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So That's Where The Volume Went
Shockingly, Bank of America's ability to pay massive bonuses (i.e. TARP repayment) was not quite the market positive event CNBCOMCAST thought it would be. On the bright side, at least BAC first year analysts will be able to afford their own island in Nakheel's "The World" artifical archipelago.
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More gayness!
Let's unwind the mother of all carry trades...
Any good idea for Washington regarding the fast-growing unemployment rate???? Please call 911.
I think this had less to do with BAC and more to do with everyone long GLD/short dollar/long SPYs (how could they!) all taking profits. If you looked Gold action or DXY action all day, no one had any idea wtf was going on in terms of a clear direction. Once it got back up to starting levels, most guys took profit.
Today has been somewhat weird, market couldn't really make up it's mind; but there were oportunities in some stocks.
X and AMZN were nice to me today.
Can we f*cking sell off already, charts, this that all the bs....where's the sell off???
With important bad news streaming it is surprising that the market was not down 2-4% today. Maybe tomorrow.
It must be the overleveraged hedge funds who have been holding the market recently, and we surely haven't forgotten how they run for the exits.Check out recent estimates
http://www.marketfolly.com/2009/12/top-ten-stocks-held-by-hedge-funds.ht...
So now we get to see the Comcast CEO daily...Also would not let BAC trade lower today, BUT down 20 cents after hours...
I assume stocks sold off as funds raised cash to buy BAC. BAC priced at 15, so no surpirse it is trading lower after hours.
And in other news, Sheilla is going to give the Boyz a bit more time to pay the vig...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aN2SJifeRtNs&pos=4
I love the excuse that if they actually have this crap on the BS that they will lend less. They ain't lending anyway and having the shit off in the dark doesn't imply that they shouldn"t have the capital!
To quote this market we need complex numbers (emphasis on the imaginary part).
BAC at close: 0 + 15.76i
Classic!
I think peeps are holding out as long as possible before yanking their chips off the table before the 2010 change over in the event of tinkering with cap gains taxes next year.
I'm looking for hard core selling of stock right into the end of the year.
By the way, when is the Sage of Broad Street going to tell us his jobs number, hasn't Timmay faxed it over yet?
Could Iceland buy Iceland in The World? =) What currencies could they pay with?
Herring, cod and whale meat.
May this be only the beginning.
Bank executives must be paid billions otherwise the whole economic system collapses. Hostage taking 101.
By the way, the BAC stock opened at $15 last week Nov 27 so their "hedging" work had already begun. We are (assumingly) in the second wave of that creation with today's move with a lot of paper still to move.
exactly right...i was thinking same thing..big funds selling to get cash to fund their BAC secondaries
Rolling Top may have just started to roll down the other side. A bubble this big deserves a nice, big rolling top like we've had.
Can they change the login screen to say.
Welcome to the circle jerk exchange?