Bank of America Drops To $5.01; Lowest Since March 2009

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Mon, 12/19/2011 - 11:40 | 1994086 GOSPLAN HERO
GOSPLAN HERO's picture

A very bad penny stock.

Mon, 12/19/2011 - 11:47 | 1994111 Pladizow
Pladizow's picture

Bend Over America!

The new $4.99 BOA Not So-Happy Meal comes with a free prostate exam!

Mon, 12/19/2011 - 11:50 | 1994157 GOSPLAN HERO
GOSPLAN HERO's picture

Spend $5 at SUBWAY ... a far better deal than BAC.

Mon, 12/19/2011 - 11:56 | 1994204 iDealMeat
iDealMeat's picture

If I read the recent comments right and it is the case that creditor banks can "seize" re-hypothecated capital at debtor's BK. I expect a lot of institutional endowments to quickly leave the house of BAC and C..

bankrun bitchez

Mon, 12/19/2011 - 12:06 | 1994252 gmrpeabody
gmrpeabody's picture

At 4.99..., still over-bought.

Mon, 12/19/2011 - 12:08 | 1994266 hedgeless_horseman
hedgeless_horseman's picture

Mon, 12/19/2011 - 12:09 | 1994274 Caviar Emptor
Caviar Emptor's picture

It's always been about BAC. I've said it since 09

Mon, 12/19/2011 - 12:49 | 1994404 DeadFred
DeadFred's picture

Wow, I thought the massive wall of bids at 5.01 was impressive, now I see the defensive line at 5.00.

Mon, 12/19/2011 - 11:44 | 1994118 Don Birnam
Mon, 12/19/2011 - 11:57 | 1994213 Manthong
Manthong's picture

If Buffett buys a billion today, he can get his average cost per share under $7.50.

Mon, 12/19/2011 - 11:44 | 1994122 Azannoth
Azannoth's picture

Time for BAC to do a Reverse Merger with a Company trading above 10$

Mon, 12/19/2011 - 11:45 | 1994134 TruthInSunshine
TruthInSunshine's picture

Warren 'Thanks Uncle Sucker Sam' Buffett is on the phone right now with Obama's chief of staff, prepared to 'pledge' more money for BAC, but only if the taxpayer-guarantee-against-any-losses-whatsoever plan usually extended to Warren is sweetened to included "and a minimum of 25% profit, aka give me first secured status on the good stuff that BAC has."

The highly significant back story that cnBSc is working on, via Becky B. Quick, is whether Warren is negotiating these terms in the bathtub.

Mon, 12/19/2011 - 11:51 | 1994168 GOSPLAN HERO
GOSPLAN HERO's picture

A Becky Quickie for Warren?

Mon, 12/19/2011 - 12:11 | 1994282 Caviar Emptor
Caviar Emptor's picture

You got it! Warren to buy BAC preferred at $1.00. Fed rescue to kick in 10 minutes later. 

Mon, 12/19/2011 - 11:48 | 1994148 vast-dom
vast-dom's picture

R u serious? This is fucking ultra-bullish son!

Mon, 12/19/2011 - 11:52 | 1994172 fourchan
fourchan's picture

Just pull a citi, 10:1 reverse split coming up...no problem.

Mon, 12/19/2011 - 11:57 | 1994209 Alien Invader
Alien Invader's picture

Yes exactly, that should buy them another 2 years. Citi is really a $2.50 stock, these algos appear pretty easy to fool. That being said, it's almost time for ShitiCorp to have another reverse 10:1 split.

 

On another note, notice how all these banks own each other's stocks. This reminds me of Japan, where all the corporations are interlinkied, and that hasn't worked out too well either. Get your shorts on!!!

Mon, 12/19/2011 - 11:55 | 1994194 CPL
CPL's picture

It is isn't it.

 

A metric fuck tonne of empty houses that are rotting in inventory, no customers, investment section with a terrible track record and the upper management still collects bonuses.

 

This POS had sell written all over it 4 years ago.

Mon, 12/19/2011 - 12:11 | 1994278 chunga
chunga's picture

Getting borderline spammy with this hamlet link but I laugh my bells off every time I read it.

tOO BiG To fAiL LOan MOdIFiCATioN FOrm r.1.A.002.B.XXXX

What a complete waste...

Mic check: Shame

Mon, 12/19/2011 - 12:01 | 1994226 MiddleageThinni...
MiddleageThinninghair's picture

I've been watching BAC on stockcharts for a little while now.  The price change will fluctuate between -0.16 and -0.17 but the actual price remains fixed at $5.03. 

Mon, 12/19/2011 - 12:19 | 1994301 DeadFred
DeadFred's picture

I had to reload my program because BAC data stopped dead. Just BAC. Maybe random, but curious.

Mon, 12/19/2011 - 12:21 | 1994304 ucsbcanuck
ucsbcanuck's picture

Noticed the same myself. Now it's working again at 5.03

Mon, 12/19/2011 - 12:37 | 1994349 JLee2027
JLee2027's picture

Here comes the Fed, pumping the stock back up just like last time.

Mon, 12/19/2011 - 12:04 | 1994244 Al Huxley
Al Huxley's picture

No, a bad blue chip stock, a great penny stock, since it has all the attributes that penny stocks have, eg - pie in the sky business model that will require a miracle to actually happen, bullshit buy recommendations by conflicted, self-serving analysts, a book value near or below zero, etc...

Mon, 12/19/2011 - 13:32 | 1994569 Ruffcut
Ruffcut's picture

"five dollar... five dollar foot long.... five dollar foot long dog turd."

I hope you don't step in it.

Mon, 12/19/2011 - 14:09 | 1994736 briansdad
briansdad's picture

I ask with some trepidation, but if the situation is so dire, why doesn't BAC put Countrywide into Bankruptcy Court? 

Mon, 12/19/2011 - 14:18 | 1994772 TruthInSunshine
TruthInSunshine's picture

I"m not sure and haven't researched the issue, but I will admittedly throw a SWAG out there that it has something to do with the fact that BAC was essentially forced to swallow Countrywide (and Merrill) as part of the Hank 'Tanks In The Street Unless We Help Goldman Sachs & JP Morgan Grow Into Robber Baron Status' Paulson recovery pact, formed and executed in conjunction with Timmmay.

Mon, 12/19/2011 - 16:18 | 1995277 Strut
Strut's picture

$4.93 Bitchez!

Mon, 12/19/2011 - 11:39 | 1994087 transaccountin
transaccountin's picture

Paging Dick Bove stat! Buy Buy Buy Dickie!

-What Problems? Bank Of America Is Fine, Bove Says

Mon, 12/19/2011 - 11:39 | 1994088 Tsar Pointless
Tsar Pointless's picture

Two Maginot lines set for the PPT today.

BAC @ $5.00

S&P @ 1220

Mon, 12/19/2011 - 11:41 | 1994099 catacl1sm
catacl1sm's picture

As I'm sure you know, the Maginot line was utterly useless.

Mon, 12/19/2011 - 11:42 | 1994110 achmachat
achmachat's picture

not utterly useless!

it has a very nice ring to it.

Mon, 12/19/2011 - 11:46 | 1994141 gmrpeabody
gmrpeabody's picture

It was a great reverse barometer for opposing armies.

Mon, 12/19/2011 - 12:07 | 1994260 Sudden Debt
Sudden Debt's picture

NO IT WASN'T!!!

I still make a good tourist attraction....

 

 

Mon, 12/19/2011 - 12:23 | 1994311 XenoFrog
XenoFrog's picture

Sorry for the history smackdown.

The Maginot Line was designed to force Germany to attack through the low countries. It was a total success. It was France's military that was supposed to stop Germany's advance which failed in the face of the new Blitzkrieg tactics.

Mon, 12/19/2011 - 12:58 | 1994440 Ghordius
Ghordius's picture

I thought the route through the Ardennes played a role, too?

And the fact that the Polish Invasion gave the Germans some very fresh experience.

But I agree, had the French deployed better and used their tanks in a modern way they could have stopped them...

Mon, 12/19/2011 - 11:58 | 1994216 HelluvaEngineer
HelluvaEngineer's picture

I think you forgot Gold above $1600.

Mon, 12/19/2011 - 12:06 | 1994249 Al Huxley
Al Huxley's picture

Gold BELOW 1600 - keep in mind who's defending the lines in the sand.

Mon, 12/19/2011 - 12:31 | 1994327 Dcheeth2
Dcheeth2's picture

The Rubicon is more apt, I think.

Mon, 12/19/2011 - 11:39 | 1994089 Jlmadyson
Jlmadyson's picture

Here we go paw paw!

Mon, 12/19/2011 - 11:40 | 1994090 Odin
Odin's picture

This is seriously the rally? I mean I knew the market was bullshit these days but this is insanity...

Mon, 12/19/2011 - 11:40 | 1994093 catacl1sm
catacl1sm's picture

Off with its head!

Mon, 12/19/2011 - 11:43 | 1994096 slaughterer
slaughterer's picture

Sloppy block selling.   I bought.    I dare anyone here to short BAC in volume under $5.10.   

Mon, 12/19/2011 - 11:48 | 1994143 bill1102inf
bill1102inf's picture

not no, heeeeelllll no

Mon, 12/19/2011 - 11:54 | 1994187 J 457
J 457's picture

I'm in at $5.06. 

Mon, 12/19/2011 - 11:40 | 1994097 achmachat
achmachat's picture

my humble opinion: if the Rothschild bank's share drops to 5 USD, it means that the Rothschilds wanted it to drop to 5 USD.

now the question is: what is the endgame?

Mon, 12/19/2011 - 11:42 | 1994101 firstdivision
firstdivision's picture

It will also set off the buy algos at FRBNY and Paulson and Co.  Additionally, expect Bove to issue a "super-duper stong buy with leverage" recommendation.

Mon, 12/19/2011 - 11:48 | 1994147 scatterbrains
scatterbrains's picture

Bloomberg radio was pumping this pig during the top of the am rush hour via Thomas Brown.. not to be confused with the very focused funk master Tom Browne.

Mon, 12/19/2011 - 11:41 | 1994102 virgilcaine
virgilcaine's picture

BAC stock as bouyant as concrete.

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