Bank Of America Enters Correction - Drops Over 10% From Trump-Speech Highs

Tyler Durden's picture

Well that escalated quickly...

 

But it's not just BofA - the entire group is getting monkeyhammered...

 

As a reminder - the gap between the exuberance of rising rates and bank stock prices is very wide...

 

And the credit market never bought it anyway...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
froze25's picture

Bank of America, Chase Bank, Wells Fargo, CitiBank are all inner members of the FED. None will ever be allowed to go belly up. Remember when Citibank was trading at $1.00 dollar and some how kept above that 1 dollar mark to avoid being a penny stock.

froze25's picture

If it drops below 10 bucks buy it.

asteroids's picture

Probably a good idea. It went from $11 (2016) to almost $24 (2017). A double for a bank? Sounds like bullshit eh?

carbonmutant's picture

Trump's "Glass–Steagal" comments beginning to show results...

Ricki13th's picture

How is Glass-Steagal going to past without congress?

SomethingSomethingDarkSide's picture

Because heads of state are going to start dissappearing, Trump is getting tested, and if there's one thing I've learned, it's to never cross a successful New York Businessman personally.  Business is business, all is fair, but attacking their person is baseball bats wrapped in barbed wire during the middle of the night kind of material.

Everything is up in the air: his job, his family, his well manicured public image - all will be wrapped up on the end of a rope and smashed against all that threaten these three values.  It's all or nothing - rip them apart, Trump!

BigFatUglyBubble's picture

The banks are personally attacking him?

 

"manicured public image"

eh, meh

 

 

hibou-Owl's picture

Helmet on, terminal wave 5 just ended.

Yipee about time!

HardlyZero's picture

Bankin' like it's Two Thousand Eight !....

Look at Sears go bye..

Real estate is about to get down too.

Biggest Short coming...

Seasmoke's picture

Fuck You Brian Moynihan !!!! And Ken Lewis too.

E.F. Mutton's picture

Uh-Oh

Turd in the Swimmin' Pool time - everybody out of the water

shizzledizzle's picture

Better put a floor in Mrs. Yellen. Your first effort of the day has failed.

BigFatUglyBubble's picture

puke rainbows into a Ferguson™ brand deluxe toilet bowl you clowns

Pgg1507's picture

AAAAnnd it's gone!

Soul Glow's picture

Something wicked this way comes....and people have been too blinded by QE and easy money to see it coming.  Gold is up, bank stocks are down, I won't say this is it but it appears we are standing on the edge of the cliff, and it's a long way down.

Soul Glow's picture

Strong bye....

fixed it for you.

tbone10's picture

When the economy implodes again we're going to see to it that you do not survive---fees of America

OCnStiggs's picture

Couldn't have anything to do with those staggering derivatives threatening to go bad could it?

Nahhhhhhh!  They only add up to more than YOUR TOTAL DEPOSITS YOU IDIOTS!!!

whatisthat's picture

I would observe if not manipulated then BoA stock value should be $1.09.