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

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Mon, 11/28/2011 - 16:35 | 1922515 Bam_Man
Bam_Man's picture

And BAC is now red for today.

Everything is fixed. For sure.

Mon, 11/28/2011 - 16:40 | 1922557 I did it by Occident
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%. 

Mon, 11/28/2011 - 17:04 | 1922702 Troll Magnet
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fucking BAC can't collapse soon enough IMO.

Mon, 11/28/2011 - 18:14 | 1923065 InternetInfidel
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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. 

Mon, 11/28/2011 - 20:14 | 1923442 tom a taxpayer
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.

Mon, 11/28/2011 - 16:46 | 1922560 dracos_ghost
dracos_ghost's picture

BAC should change its symbol to POS.

Mon, 11/28/2011 - 16:49 | 1922617 Sunset chaser
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.

Mon, 11/28/2011 - 17:02 | 1922697 GenX Investor
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. 

Mon, 11/28/2011 - 16:50 | 1922627 johngaltfla
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Short the fade or ditch your mistress for Xmas.

That is the rule this week.

Mon, 11/28/2011 - 16:36 | 1922521 midgetrannyporn
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bac was up over two bits earlier. wtf happened? [/sarcasm]

Mon, 11/28/2011 - 16:38 | 1922526 sabra1
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!

Mon, 11/28/2011 - 16:36 | 1922528 randocalrissian
randocalrissian's picture

decepticon game.

Mon, 11/28/2011 - 16:37 | 1922532 digitlman
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Complete and utter horseshit.

Mon, 11/28/2011 - 16:38 | 1922536 lizzy36
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Wonder if Buffet takes another bath at around $3.50.

Mon, 11/28/2011 - 16:39 | 1922550 randocalrissian
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An expensive bath... fortunately he can afford it.

Mon, 11/28/2011 - 16:54 | 1922647 slewie the pi-rat
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right after his 3:30 enema

Mon, 11/28/2011 - 16:40 | 1922554 sabra1
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guess he'll need a towel! better wait 'till janet napolitano is done with it!

Mon, 11/28/2011 - 16:51 | 1922634 Cruel Aid
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XLF surges and BAC owners fade it with conviction.

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

Mon, 11/28/2011 - 16:38 | 1922539 the iD
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

Mon, 11/28/2011 - 16:38 | 1922541 Cdad
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?

Mon, 11/28/2011 - 16:45 | 1922596 HD
HD's picture

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

Mon, 11/28/2011 - 17:20 | 1922796 StockInsanity
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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

Mon, 11/28/2011 - 16:46 | 1922598 Dick Darlington
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!

Mon, 11/28/2011 - 16:47 | 1922603 mynhair
mynhair's picture

Yes.  Along with her looks.  What a skank!

Mon, 11/28/2011 - 16:51 | 1922630 Odin
Odin's picture

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

Mon, 11/28/2011 - 16:40 | 1922553 slaughterer
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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. 

Mon, 11/28/2011 - 16:42 | 1922571 sabra1
sabra1's picture

the good books, or the other books?

Mon, 11/28/2011 - 16:42 | 1922580 The trend is yo...
The trend is your friend's picture

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

Mon, 11/28/2011 - 16:47 | 1922602 GeneMarchbanks
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You still long BAC after that Australian miners bullshit they pulled?

Mon, 11/28/2011 - 16:51 | 1922620 slaughterer
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Dumped entire BAC holdings today.  I am playing only short term.  Worried about possible capital raises, secondary offerings, regulatory actions, neg headlines, etc. etc.  

Mon, 11/28/2011 - 16:56 | 1922657 slewie the pi-rat
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L0L!!!

hope you don't miss anything big!

Mon, 11/28/2011 - 17:03 | 1922699 GeneMarchbanks
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Should've doubled down you vagina. Just kidding... no seriously, welcome back son.

Mon, 11/28/2011 - 16:58 | 1922672 SheepDog-One
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Institutions and funds are FUCKED! Theyre all out tincup in hand begging again....'Oh please hand us some more magical free money!' 

LOL

Mon, 11/28/2011 - 16:41 | 1922558 Eireann go Brach
Eireann go Brach's picture

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

Mon, 11/28/2011 - 16:40 | 1922559 CORNGUY
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?

Mon, 11/28/2011 - 16:59 | 1922679 Dr. Engali
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They will do a reverse split.

Mon, 11/28/2011 - 16:41 | 1922561 ZippyBananaPants
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!!!

Mon, 11/28/2011 - 16:45 | 1922594 WonderDawg
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If you bought puts with 17 strike, you should do very well.

Mon, 11/28/2011 - 16:52 | 1922639 slaughterer
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Dude, you got filled alright.  

Mon, 11/28/2011 - 17:02 | 1922676 SheepDog-One
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Bent over and got filled like a thanksgiving turkey!

Mon, 11/28/2011 - 17:25 | 1922832 caerus
caerus's picture

grpn and lnkd were gifts to short sellers

Mon, 11/28/2011 - 16:41 | 1922562 Tick By Tick
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

Mon, 11/28/2011 - 17:08 | 1922568 mayhem_korner
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.

Mon, 11/28/2011 - 16:42 | 1922574 Sudden Debt
Sudden Debt's picture

YOU CAN BANK ON IT!!

used to be a great saying...

 

Mon, 11/28/2011 - 16:43 | 1922583 Mark123
Mark123's picture

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

Mon, 11/28/2011 - 16:43 | 1922585 Jonas Parker
Jonas Parker's picture

Doggone penny stocks are so volatile...

Mon, 11/28/2011 - 16:44 | 1922587 Motorhead
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Maybe Rick Perry should offer to help Bank of America, LOL.

Mon, 11/28/2011 - 16:53 | 1922646 slaughterer
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We all need to join hands and "do our part" to save BAC.  

Mon, 11/28/2011 - 16:44 | 1922592 Number 156
Number 156's picture

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

Mon, 11/28/2011 - 16:46 | 1922600 WonderDawg
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I doubt it takes until Friday. I'm thinking more like tomorrow.

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