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Bank Of America Is A Fiver Again
They are, however, together with Morgan Stanley, Jefferies and all the other banks that have a gag order on Comcast, perfectly hedged... In other news, clueless copy and paste journalists turned financial pundits will still call bottoms.
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Always has been a fiver err fourer ... um three-rer etc. etc.
Five rocks - for a five year old.
Why is Buffett holding on to this turd? QE3 priced in?
maybe if boa goes down, the rest of his portfolio goes down too? gotta maintain the illusion of "all is well"!
Or maybe, like Joe Paterno, the old fucker has gone senile.
You must be referring to Sandusky.. Joe wasn't touching lil' boys..
When he wasn't covering things up, Joe spent his time falling asleep and crapping his pants.
I'm willing to wager that both Joe and Warren touch little boys. Plus Warren likes sodomizing large worker pools, but it appears that he's on the "receiving" end of things now. So, is this a ruse or a sign of cosmic retribution/karma?
let the bodies hit the floor
The honourable Warren Buffet (winner of the 2011 Obama Presidential Medal of Freedom) famously said
"the time to buy is when there's blood in the streets."
And with a value stock like Bank of America trading at these lows, this is a fantastic oportunity. It takes courage to step and buy bargains like this, but those who step up to the plate will be rewarded handsomely.
LMAO Yes, a value stock. Indeed.
I would wager that BOA will close the gap up at 6.08 very shortly. Certainly worth a punt if you are a savvy trader, and a bargain if you are a shrewd value investor.
hey savvy trader, you probably recognized the downward triangle pattern that has formed in the BAC 3 week chart with a price target on the break out of approx $5.30. fucking million dollar dumbass
I can't hardly stand your posts. I cringe when reading them. You have to be a troll!
But he is a funny one.
Ofcourse he is... a very fat troll.
You WOULD wager or you DID wager? Put your money where your mouth is. BOA soon to be DOA.
You might also have noticed that Buffett owns PREFERRED, not the common, genius.....
Have you ever traded a stock before? I think everyone here knows that the time to buy is when the analysts and brokerage firms are screaming " this stock is going to zero! get out now" . When they are pounding the table and assuring joe six-pack that everything is fine they are selling like there is no tomorrow. Noone is buying your crap. BOA with be the first domino
I actually watch for that. Lots of Upgrades at the Tippy Tippy Top. Time to Short. Lots of Downgrades at the Bottom of the Bottom. Time to Buy. But, usually wait a few days before executing a Trade.
I would wager that BOA will close the gap up at 6.08 very shortly.
Savvy traders and investors don't tell people what they're up to. They just do it.
So using that logic, BAC must be a buy considering the all the sheep folk on this thread seem to think otherwise and the savvy ones are quietly making their trades?
dick bove believes this to be a once in a generational opportunity.
he said so on the (c)ommunist (n)eo (b)olshevik (c)hannel on the jewtube and cramer agreed.
they are both "experts".
Ssh- Cramer bought ad space on this site- trying to keep us all nice and such.....
CNBC investors want a second opinion. Becky -- head to the makeup department ASAP. Straighten those stockings and put on those heels...on air in ten minutes: there is an Uncle Warren Bank America bathtub epiphany forthcoming...
"Why don't you reach into my front pants pocket and grab yourself one of those "johnny rockets" coupons Ive been keeping warm for you"
They give those out at Dairy Queen with the purchase of a Cherry Coke - or is it See's, with a bag of turtles ? Dig deep - those pockets are.
Blight on America bank soon to be a pink sheeter.
The original person quoted of saying "buy when there's blood in the streets" was Baron Rothschild. Fitting I think that his minion Saint Warren is now fumbling around buying BOA trying to protect his fellow elite.
"The honourable Warren Buffet (winner of the 2011 Obama Presidential Medal of Freedom) famously said
'the time to buy is when there's blood in the streets.' "
-Ummmm.... Warren Buffet never said that. It was Mayer Nathan Rothschild that said that during the French Revolution.
moynihan, obama, and the bernank prob have some MAJOR dirt on the "oracle". forced his hand
QE Infinity is priced in. It is how the market operates. Hopium and skittles.
However, Buffett will allow the $5 Billion investment to go to hell, sell every share he bought back for a net loss of $4 Billion or more, write it off as a capital loss, and use it to offset any capital gains. Of course, being the investment machine he is, he has near zero capital gains, so this is a net win situation for him.
Still overvalued.
Plenty of support around $0.
you are way too harsh!!
the fundamentals and technical analysis clearly show a very strong support at around 22 to 26 cents!
I'm going to buy a share as soon as they declare bankruptcy so I can have a stock certificate for posterity's sake. I don't think it will be long now.
TSTC: A goos short or buy puts today:
Fraud report at;
http://seekingalpha.com/instablog/1054739-morrison-security-research/230781-telestone-technologies-nasdaq-tstc-the-most-dangerous-chinese-reverse-merger
Thanks for the tip. Bought some puts this morning.
Problem: Credit "contagion" sweeping the globe
Solution: See below
1) Sell gold and silver
2) Dump all resource stocks
3) Buy retail stocks like HD, DKS
4) Flee into "Paper": USDX, U.S. Bonds, Muni's, whatever.....
Fucking choad.
I've been a member for 5 weeks and 5 days. Listen to me, listen to me!!!!!!
0) Take copious amounts of mind altering substances and check if imaginary investing money is still all there.
sell gold sell gold sell gold. wait. i have my head up my ass. stupid me.
according to your avatar i did not think your head was in uranus, did you?
Or quietly get your house in order and watch the world spin down the crapper from the cheap seats. I like to be straight when viewing disasters, even slow motion ones.
Wondering what the world will look like in eight years when my kids are out of college.
laughed my socks off!!
Tyler just OWNED YOU RoboTrader!!!!!
Thank you Mr. Cramer, you can come out from behind the mask now
Is there any musical style you prefer?
was that a Soylent Green reference?
No I want to make a theme song for him.
err yes!
Flat Foot Floogie - Louis Armstrong & The Mills Brothers 1938 - YouTube
That is going to be a challenge to program. It might require more than a few hours of free time.
Robot-You're back! We've been owning you for the last couple days, mainly just poking fun at your stupidity and the fact you are socially inept.
Robo to Mom:
No-one could steer me right but Mama tried, Mama tried.
Mama tried to raise me better, but her pleading, I denied.
That leaves only me to blame 'cos Mama tried.
Fascinating, you must be the guy I keep dealing with on the other end of my trades. Cause I've been buying oil and gold stocks and selling anything to do with "paper". Nice to meet you. Let's keep doing business, I appreciate the $$.
Poor Robotarder, sold all his gold well under $1,000, and has been a bitter hater about it ever since.
To those that are new to this sight, Only listen to RobotTrader's last word, it sums up his post. Whatever!
Robo,
You remain one of the few worth a rat's ass around here.
+1000...because nobody here would buy a rat's ass except for Robotarder and You!
million dollar put
Million dollar Putano - fixed it for ya
5, 5, slippety slide they do what they do JUST TO SURVIVE.....(sorry coolio)
But there is nothing wrong here!!! (shake head and say yes....)
Coolio ?! Funck no !
Young buck -- Coolio was riding a Big Wheel when Lakeside charted "Fantastic Voyage" all the way to Number 1, in 1980.
http://youtu.be/-1YjmXSyHa8
Damn, that's some fine funk.
+1
Been a minor miracle it has stayed at 6 for so long, considering how many people left the bank.
The forthcoming splooge I'm gonna have when BOA liquidates is going to be epic. Schadenfrude of the HIGHEST order.
what about WARREN ??? still a GOOD investment ??????????????
I have a suspicion that Buffet will not lose a dime, even if BaC goes under.
Full Disclosure: Unfounded speculation that a taxpayer guarantee was offered prior to the 5B play by the <s>barnicle</s>... errr... oracle.
But Congress just agreed to INCREASE FHA conforming loan limits to $729k.
FHA Undercapitalized By $50-$100 Billion But Congress RAISES Conforming Loan Limits for FHA (Not Fannie Mae and Freddie Mac)
http://confoundedinterest.wordpress.com/
So much for government's promise to reduce FHA and goverrnment's footprint.
Always enjoy your insight DrS
I read the headline as "Bank of America Has a Fever Again".
Bloody stool also.
I got a fever...and the only cure....is MORE COWBELL!
I've Got A Fever... - YouTube
Cramer says BAC is an option....on what? Cheap puts on the banking system - crowd erupts in laughter....
Is it just me or do the rest of you find it coincidental that his stock refuses to go below 5 bucks after dropping like a rock? Kinda like the UDX staying in the 70's after droping like 40 points over the last several years. It looks like there is an "invisible" support at these levels. My guess is the Fed (i.e. YOU-the taxpayer).
So when will my certificates be arriving in the mail? It's almost time to fire up the woodstove
Where did Warren buy again? That was preferreds?
'Bank of Inopportunity' for everyone but the short sellers.
Everyone calm down Paulson is just getting his avg cost down.
Good thing he got out of gold then
What was the huge volume uptick. OR I guess I should rephrase that, how would the huge uptick before it fell below 5 again be explained as NOT being an intervention?
get your tactical led flashlights with strobe...your gonna need em
Its like watching someone you really hate drown.
Gulp...gasp gasp...gulp.
just took that shot of tequila, got my morning started right! no worm though, thats for when BAC is a $4 piece of shit stock
BAC is a piece of shit stock, period.
That $5 fee was gonna save them LOLOLOL Let's all make a good trade today, and then buy some physical silver. Correction: buy some physical silver now, and then buy more physical silver after we make a good trade. Repeat until your net worth has increased 10x.
I was just in a local BoA branch 4 days ago and it was a pretty crazy scene, at least five people were there closing out accounts. I listened to one teller all but beg and plead with a customer who apparently had a lot of cash stashed there to not close out but he was very insistent. anyways it was so bad that the branch manager came out and asked all five to return after hours to complete the close outs, a couple of the guys were not happy with that decision and started yelling and cussing the BM out, even threatening to kick his ass if he did not produce their loot in a timely fashion. The police were eventually called and the guys left but I couldn't help but notice how quickly the thin veneer of civility can disappear in times such as these.
oh yeah, and BoA is absolutely finished, the media just hasn't printed the obituary...
I feel left out. I think I might go open an account just so I can close it!
Through my anecdotal evidence, I think a lot of people are simply fed up with BoA's "black hole" perception. Meaning, you can get your money in, but not out... and, for simple checking accounts/etc., this is simply an insurmountable problem.
Effectively, they can get local people to talk to at a local bank or credit union and get same day results for virtually any transaction... and it costs the same/less than keeping money at BoA, where none of this is practically possible.
You want to prove you're the trustee of a trust? personal representative of an estate? etc. etc. "OK, please wait while we send this to our legal office in california." 2 hours go by... "um, I've got better shit to do, I thought this was just going to take a minute?" Another hour rolls by, "fuck you, assholes, as soon as you verify my identity, I'm pulling all this money."
If you ostracize business professionals and your general retail base, then you're gonna have a hard time climbing out... put a fork in it.
where's the old ball bag crony communist mascot of the (c)ommunist (n)eo (b)olshevik (c)hannel?
just once a quarter now?
Kudlow?
Slip sliding away...
Slip sliding away.
You know, the more you mark to make believe the more you're slip sliding away....
Buffet knows his buddy Obummer will bail him out. Remember when they were hanging out and chatting it up with this "millionaire's tax" thing right around the time he bought all that BOA stock? Hell get his $$
Batter dipped and countryfried.
Yeah but Zero Hedge was calling the collapse when the Dow was 10,000...we were going all the way back to the stone age with Ron Paul driving the Flintstone wagon. Your utopian whining didn't see it back at 12,000 did it? Why the fuck do you go on when you get everything so fucking wrong? Done too much gear? Making too much dough out of it all?
How about you make a promise to shut the site down if the Euro doesn't collpase inside 12 months? You must have something better to do than peddle shit to a load of consipracy weirdos no?
The bullshit equity indexes mean nothing, youre just a dupe...sheeple get very nervous when their safe illusion is being messed with.
Youre calling the DOW 'Okey dokey' here at 12,000? Inflation adjusted 1995 levels at best? Youre just a dumb bastard thats all.
Having a rough morning, SD1? Or are you just fed up with shit heads?
Did I say anything was okey dokey? I'm just saying Zero Hedge has been wrong about almost everything. Did ZH say `Dow will be back at 12,000`? Nah, it was `we're all going to diiieeeeee` fantasist utopian rubbish. Was ZH talking about the Italian economy, the Greek economy in 2007? Was it fuck.
Were any of you even giving a shit in 1997 1998 1999 2000 when people were attacking the G8, storming the LSE? Getting shot, killed. You were too busy talking out stupid fucking loans on your badly insulated, cheaply built American houses and running up fuck-off levels of debt. You are 15 years behind the curve. Typical fucking American dimwits, products of a shit education system and all you can come up with is some whack job 80 year old conspiracy freak Ron Paul.
Go live in the fucking Vegas sewers you morons.
No offense meant like.
Haldol level a little low?
You sound a lot like RNR/LFP.
Everything is just fine. No problems, no worries. Don't let these folks get under your skin with all their baseless disaster talk. Go watch TV, play a video game, or get an account with e-trade. ZH is a waste of your time.
Look, look! YZI has an (1) up arrow!
Isn't it cute when people up-arrow themselves?
We prefer the label doomer goons.
Buffet didn't buy the stock. Rather, he bought "Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering. The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium."
http://www.zerohedge.com/news/bank-berkshire-america-buffett-buy-5-billion-preferred-stock-bank-america
In addition he got warrants that were exercisable at 700,000,000 shares of Bank of America common stock at an exercise price of $7.142857 per share
If you remember that day the price jumped well into the 8's.....if he was smart he made $1 billion that day. I haven't seen the preferred share offer, but it's probably closer to debt than equity in a liquidation. If solyndra teaches us anything it may be senior debt.
So he rapes them at 6% annually with an implied guarantee from Timmy G. Anyone who read this deal could realize what trouble BofA was in......except Million Dollar Crack head
You took the words right out of my mouth.
Buffet's investment may not turn out profitable (nothing is certain), but it is biased very heavily in his favour and thus far from stupid.
There will be a few seeing this post who will not understand the significance of a 5 dollar share. From Wiki Pages :
Many mutual funds' charters directly prohibit their managers from investing or holding penny stocks (those traded on the OTCBB and pink sheets) and generally stocks under $5 dollars.municipal, state, or federal pension funds' charters might prohibit their managers from investing in stocks (or holding stocks) below 5 dollar level.most firms deem stocks under 5 dollars to be unmarginable. This means that they will not extend a line of credit on investments that are trading at less than 5 dollars.
There is of course another side to share prices sliding. Namely that core capital consists primarily of common stock so any reduction in share prices affects capital and leverage ratios. Conversely as the credit worthiness of a bank deteriorates it can book a profit based on being able to buy back debt, so the problems show up in leverage rather than capital.
What you should expect to see is support for the stock at this level, because the bank is likely to buy back shares and other investors already invested will buy in to stop their investment value falling and the FED will lean on a few big investors. At the same time other banks will mostly likely increase margins, capitalin real terms will drop and leverage will rise. You can then expect banks to shuffle risk assets about, hold risky assets off balance sheet, untill the regulator comes in and says enough, like it did with citi a few years back.
Expect the share price to stay above 5 dollars, regulators to aid in some nifty accounting, a rise in fees and a partial credit crunch across the US as a result. On the other hand all its takes is a miss timing or slip up by the authorities for things to go wrong.
BAC IS A BUY! AT .01!
5 finger discount.
Fuck You,...MillionDollarCumSwallower.
Given Goldman Sucks has no CDS cover for their European loan book and Lloyd Blankfein is the naked Emperor with no clothes surely it's only a matter of time for GS stock to tank too and join Bernankes portfolio of propped up stock market failures
That is HILARIOUS. Gag order on comcast.
clueless copy and paste journalists turned financial pundits....
======
best line of the week! and so true!
What BofA is betting on:
Bank of America Maintains Buy, $65 PT on Wal-Marthttp://www.benzinga.com/analyst-ratings/analyst-color/11/11/2129527/bank...
And now Walmart is down only 2.5%...
Stack of chips on $6 Black.... It seems obvious to me that TPTB have expect to hold BAC at $6. Many days it has neared then bounced off $6. I am not saying it won't go lower, and that you cannot short BAC, but $6 is a wall being supported by TPTB.
NASDAQ megaphone pattern on daily chart indicates a big move lies ahead.
SP500 monthly chart remains bearish and USDX weekly remains bullish, so it’s only a matter of time until the market makes its move.
http://stockmarket618.wordpress.com
Moynihan: Banking Now Not as Profitablehttp://www.bloomberg.com/news/2011-11-15/bofa-s-moynihan-says-pace-of-economic-expansion-is-slower-than-we-d-like-.html