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And BAC is now red for today.
Everything is fixed. For sure.
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%.
fucking BAC can't collapse soon enough IMO.
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.
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.
BAC should change its symbol to POS.
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.
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.
Short the fade or ditch your mistress for Xmas.
That is the rule this week.
bac was up over two bits earlier. wtf happened? [/sarcasm]
somebody! somebody! get me a towel, quick!
or, better yet, get me becky quick in a towel,
better yet, in a facecloth!
Complete and utter horseshit.
Wonder if Buffet takes another bath at around $3.50.
An expensive bath... fortunately he can afford it.
right after his 3:30 enema
guess he'll need a towel! better wait 'till janet napolitano is done with it!
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 ISE is disseminating erroneous quotes impacting the NBBO. Please use care when placing trades. View the Exchange Lookup and ignore the ISE quote.
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?
Don't have to remove something that what was never there. Paid talking heads - nothing more, nothing less.
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
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!
Yes. Along with her looks. What a skank!
k I got a new one... Occupy CNBC... Anyone down?
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.
the good books, or the other books?
who are they selling to? Who is the buyer of last resort of this crap?
You still long BAC after that Australian miners bullshit they pulled?
Dumped entire BAC holdings today. I am playing only short term. Worried about possible capital raises, secondary offerings, regulatory actions, neg headlines, etc. etc.
hope you don't miss anything big!
Should've doubled down you vagina. Just kidding... no seriously, welcome back son.
Institutions and funds are FUCKED! Theyre all out tincup in hand begging again....'Oh please hand us some more magical free money!'
It's time to throw the big fat Buffet baby out with the BAC bathwater!
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?
They will do a reverse split.
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!!!
If you bought puts with 17 strike, you should do very well.
Dude, you got filled alright.
Bent over and got filled like a thanksgiving turkey!
grpn and lnkd were gifts to short sellers
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
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.
YOU CAN BANK ON IT!!
used to be a great saying...
Ben to Tim at 3:45 (after a 5 martini lunch): "Time to rally that bitch"
Doggone penny stocks are so volatile...
Maybe Rick Perry should offer to help Bank of America, LOL.
We all need to join hands and "do our part" to save BAC.
Wait until Friday when the smell of the BS wears off.
I doubt it takes until Friday. I'm thinking more like tomorrow.
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