With 30 Minutes To Close, S&P Sector Performance From 0931ET

Tyler Durden's picture

Presented with little comment - except to say, financials are down more than twice as hard as any other sector from one minute after the open and healthcare is outperforming. Risk On?

Most of the major financials are trading at their lows of the day with BAC red. Here is the performance of the major financials from 0931ET...

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Bam_Man's picture

And BAC is now red for today.

Everything is fixed. For sure.

I did it by Occident's picture

yeah, Citi got the memo and is up over 5%.  BAC, not so much.  Does this confirm that BAC will collapse (eventually)?  Since it  seems a lot of other ES are up 3%. 

Troll Magnet's picture

fucking BAC can't collapse soon enough IMO.

InternetInfidel's picture

BAC has been techincally insolvent for a while it's really only a matter of time until their creditors and stock holders catch on.  That being said it appears as if the banking sector is locked a prisoners dilemia in that once one financial institution makes a margin call on another which they can't meet things turn ugly.  Namely, once one institution fails to meet a margin call its caused a run (most likely through the Shadow Banking Sector, not a direct depositor run) which drives them into receivership.  As soon as one institution goes down, the entire bilatteral netting chain is broking and gross exposure to the European Sovereign Debt crisis becomes net.

This is, in my opinion, what will lead to monetization of debt, so the only real question is who margin calls who?  My money would be on Goldman calling someone, but I honestly can't say who, BAC is a good a candidate as any other, but it could easily be MS, JPM, UniCredit, Citi, BCS, or anyone else. 

tom a taxpayer's picture

Thank you for this insight. It seems that the 2008 crisis was at least in part due to margin calls (AIG, etc.) among the big boys. 

And your comment is a good reminder that when push comes to shove, it is a dog eat dog world, or as we say after this "Black Friday", a Walmart shopper eat a Walmart shopper world.

dracos_ghost's picture

BAC should change its symbol to POS.

Sunset chaser's picture

BAC as in BAC to zero.

Watching it fall through the $5 barrier should be entertaining. Watching my puts explode in value about the same time should be fun too!

Who knows, maybe it will be as soon as tomorrow. It would really be bad if if goes below $5 and then closes there too.

GenX Investor's picture

WOW that was a stupid last 5 minutes of the market.  Some one is trying real hard to get people to belive we are out of the woods and will have a Santa Clause rally till year end. 

johngaltfla's picture

Short the fade or ditch your mistress for Xmas.

That is the rule this week.

midgetrannyporn's picture

bac was up over two bits earlier. wtf happened? [/sarcasm]

sabra1's picture

somebody! somebody! get me a towel, quick!

or, better yet, get me becky quick in a towel,

better yet, in a facecloth!

digitlman's picture

Complete and utter horseshit.

lizzy36's picture

Wonder if Buffet takes another bath at around $3.50.

randocalrissian's picture

An expensive bath... fortunately he can afford it.

sabra1's picture

guess he'll need a towel! better wait 'till janet napolitano is done with it!

Cruel Aid's picture

XLF surges and BAC owners fade it with conviction.

$3.50 looks possible, but I wouldn't touch anything in the XLF either way.

the iD's picture
11/28/2011 14:03:38 ISE is down. Quotes may not be correct.

The ISE is disseminating erroneous quotes impacting the NBBO. Please use care when placing trades. View the Exchange Lookup and ignore the ISE quote.


confidence ladiez

Cdad's picture

And over at the BlowHorn [CNBC], the tools are still talking about the "good news out of Europe today."  Seriously, did M. Bartiromo have her curiosity surgically removed?

HD's picture

 Don't have to remove something that what was never there.  Paid talking heads - nothing more, nothing less.

StockInsanity's picture

seriously they are just reading from the teleprompter..... on friday when the market closed at 1 PM EST they still read "Its 4 o'clock , do you know where your money is ? "

Do you know what day of the week and time it is ???? Dumb F'ks

Dick Darlington's picture

And BBG making things up.

Dollar, Yen Fall Amid Optimism on European Crisis; Brazilian Real Advances

Treasuries Pare Losses as Optimism Fades on European Debt Crisis Policy


So, according to BBG, "optimism" on zEuropean insolvency glitch is lifting Real and lack of "optimism" on zEuropean insolvency clitch is boosting Uncle Gorilla notes. At the same time!

It's all abt quality baby!

mynhair's picture

Yes.  Along with her looks.  What a skank!

Odin's picture

k I got a new one... Occupy CNBC... Anyone down?

slaughterer's picture

Institutions and funds selling out their US financials before end of December--to get them off their books for EOY reporting.  Big block sells on all major financials today. 

sabra1's picture

the good books, or the other books?

The trend is your friend's picture

who are they selling to? Who is the buyer of last resort of this crap?

GeneMarchbanks's picture

You still long BAC after that Australian miners bullshit they pulled?

slaughterer's picture

Dumped entire BAC holdings today.  I am playing only short term.  Worried about possible capital raises, secondary offerings, regulatory actions, neg headlines, etc. etc.  

slewie the pi-rat's picture


hope you don't miss anything big!

GeneMarchbanks's picture

Should've doubled down you vagina. Just kidding... no seriously, welcome back son.

SheepDog-One's picture

Institutions and funds are FUCKED! Theyre all out tincup in hand begging again....'Oh please hand us some more magical free money!' 


Eireann go Brach's picture

It's time to throw the big fat Buffet baby out with the BAC bathwater!

CORNGUY's picture

Does anybody know:


So, I know that many mutual funds must dump a stock when it drops below $5.........at least that used to be the case.  Does this still hold true?   If so, anyone have an estimate of how many share will get dumped when BAC ticks below $5?


Or, would they just do a reverse split to prevent this?

Dr. Engali's picture

They will do a reverse split.

ZippyBananaPants's picture

Can someone get me a quote on Groupon to see if I got filled?  Put in order today for $17,


I think I am going to do well with this one!!!

WonderDawg's picture

If you bought puts with 17 strike, you should do very well.

slaughterer's picture

Dude, you got filled alright.  

SheepDog-One's picture

Bent over and got filled like a thanksgiving turkey!

caerus's picture

grpn and lnkd were gifts to short sellers

Tick By Tick's picture

there was not a single piece of European news with any substance today and the equity markets rally like mad...

....for those trading macro, the whole situation is a joke

mayhem_korner's picture



CNBC had the following headlines within 30 minutes (paraphrased): Stocks Surge Over 3%; Stocks Off Highs, But Still Up 250; Stocks Soar Over 2%.

At last look, the Dow was up 1.99%...er down 125 pts from this morning's "high."

Fade to reality...

EDIT: 3:45 BS wafer thrown to the hopium algos...guess reality will hafta wait another day.

Sudden Debt's picture


used to be a great saying...


Mark123's picture

Ben to Tim at 3:45 (after a 5 martini lunch): "Time to rally that bitch"

Jonas Parker's picture

Doggone penny stocks are so volatile...

Motorhead's picture

Maybe Rick Perry should offer to help Bank of America, LOL.

slaughterer's picture

We all need to join hands and "do our part" to save BAC.  

Number 156's picture

Wait until Friday when the smell of the BS wears off.

WonderDawg's picture

I doubt it takes until Friday. I'm thinking more like tomorrow.