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Bank Of America A Perfectly Symmetric $8.88

Tyler Durden's picture




 


For the sake of John Paulson, we sure hope he sold his BAC holdings which are now well below his cost basis. For the sake of everyone else, we also hope they sold their BAC stakes, if any. That said, we can't wait for the Fairholme Capital's conference call with Bank of America's Brian Moynihan on August 10 from 1 to 2:30 pm in which they explain to the market why it is oh so wrong on the most insolvent bank in America.

 

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Thu, 08/04/2011 - 15:53 | 1524558 JLee2027
JLee2027's picture

Heading to 0.00

Thu, 08/04/2011 - 16:14 | 1524614 kito
kito's picture

as long as they get their guaranteed gravy from the fed lending window, it will always be worth at least 0.01

Thu, 08/04/2011 - 22:14 | 1525391 Freddie
Freddie's picture

Does Fairholme own this bag of shit - BAC? 

Thu, 08/04/2011 - 15:53 | 1524559 Larry Darrell
Larry Darrell's picture

Conference call on Aug. 10.

Jackson Hole on Aug. 9th, correct?

BOA soars on free QE3 crack rocks the day before the call.  All is right with the ponzi bank of america

Thu, 08/04/2011 - 16:30 | 1524664 Cash_is_Trash
Cash_is_Trash's picture

I bank with that insolvent rotting piece of shit bank!

Thu, 08/04/2011 - 19:09 | 1524994 Cathartes Aura
Cathartes Aura's picture

because? 

Thu, 08/04/2011 - 15:56 | 1524565 Doyle Hargraves
Doyle Hargraves's picture

BAC will still be around on Aug 10th?! BWAHAHAHAHA! Not if the TPTB have anything to say about it...PREDICTION:closes at $6.66 tomorrow dies over the weekend...Cannibalism Bitchez!

Thu, 08/04/2011 - 15:56 | 1524566 fuu
fuu's picture

Trying hard not to print a big fat -500 on the day.

Thu, 08/04/2011 - 15:57 | 1524572 franzpick
franzpick's picture

Well -512 just printed.

Thu, 08/04/2011 - 16:07 | 1524590 IQ 145
IQ 145's picture

Ding!

Thu, 08/04/2011 - 16:07 | 1524591 IQ 145
IQ 145's picture

Ding!

Thu, 08/04/2011 - 15:56 | 1524568 franzpick
franzpick's picture

SPX down 59 with 3 minutes to go? Not much shortcovering here, and none tomorrow probably either, and then a tough weekend for the long-n-wrong crowd.

Thu, 08/04/2011 - 16:01 | 1524575 Dreadker
Dreadker's picture

I've just advised some of my co-workers AGAIN to close their Bank of Ponzerica accounts as they might not be able to get at their money on monday... They were all chuckling till i showed them the 6 month chart for BAC and now they all just headed over to shut their accounts LOLz

 

Bank run bitchez XXX

Thu, 08/04/2011 - 15:59 | 1524576 konputa
konputa's picture

@fuu, No doubt. This bitch is in the bag though.

Thu, 08/04/2011 - 16:03 | 1524577 IQ 145
IQ 145's picture

Bank of America; the "British Petroleum" of the financial world; it couldn't happen to a more deserving suckah. I'm going to laugh when they choke.

Thu, 08/04/2011 - 16:01 | 1524579 Fidel Sarcastro
Fidel Sarcastro's picture

Que the deer.

Thu, 08/04/2011 - 16:05 | 1524580 franzpick
franzpick's picture

Here are the sector wrecks in today's Black Thursday prelude to tomorrow's Black Friday:

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=msummary&cmd=show,iday[Y]&disp=SXA

Cheers.

Thu, 08/04/2011 - 17:00 | 1524729 Ying-Yang
Ying-Yang's picture

Wow....... thanks Franzpick. That says it all. Look at the Internationals.

Thu, 08/04/2011 - 16:02 | 1524582 THE_YAK
THE_YAK's picture

Fast Money @ 5:00PM.

Get your bibs ready, spitting everything everywhere

Thu, 08/04/2011 - 16:14 | 1524621 franzpick
franzpick's picture

We'll be needing barf bags and maybe moonsuits to get through a week more of this.

Thu, 08/04/2011 - 16:03 | 1524583 Spastica Rex
Spastica Rex's picture

Were stocks down today?

Thu, 08/04/2011 - 16:03 | 1524584 r101958
r101958's picture

BO2=Bail Out 2. Already had QE2......

Thu, 08/04/2011 - 16:05 | 1524585 HelluvaEngineer
HelluvaEngineer's picture

Wait BAC holds my mortgage.  Does this mean Obama is gonna pay my mortgage?

Thu, 08/04/2011 - 16:12 | 1524605 franzpick
franzpick's picture

Eventually, and maybe sooner, even the wealthier homeowners will see the advantages of strategic default, and owebama will be paying everyone's mortgage through the new federal home support administration, with rules and paperwork resembling a chapter 7 filing.

Thu, 08/04/2011 - 21:27 | 1525270 NumNutt
NumNutt's picture

BAC does hold my mortgage, and you are right, I have decided just last month to let the bastards eat my house. I have watched my house value go down faster then a 2 dollar whore, and it is still falling. No end in site with 30 months of housing inventory in the system and growing. I can rent an equal sized house for a fraction of my mortgage. I decided to sit on my money, and save until 3 or 4 years from now when the market finally hits bottom then pay cash for something at dirt cheap prices. Better then paying 24 more years and hope to break even. Looks like Obama is succesful at something after all.....Making the rest of the united states look just like Detroit.

Thu, 08/04/2011 - 17:49 | 1524835 Seasmoke
Seasmoke's picture

they may service your mortgage, but most like those frauds do not hold your mortgage

Thu, 08/04/2011 - 16:08 | 1524589 tahoebumsmith
tahoebumsmith's picture

Happy Birthday Mr. President.. I hope the party theme was keynesian? Now you can have your cake and eat it too....

Thu, 08/04/2011 - 16:08 | 1524592 the black arrow
the black arrow's picture

Can somebody post the video of the supreme dolt Cramer telling us" Bank of Amerika is a great bank"

Thu, 08/04/2011 - 16:06 | 1524594 Cult of Criminality
Cult of Criminality's picture

This I admit was a trade I blew.The big crash it went to $3.00 and change

I knew to load up and did not Knowing, they would be bailed.Did not act saw one day it was $17.of which seemed way high but any sell above 15.00 would have been major cash so.

So there is a trade I blew if it makes anybody feel better.No blown trades today however.

BAC ................Bank of criminals

 

Thu, 08/04/2011 - 16:09 | 1524596 HelluvaEngineer
HelluvaEngineer's picture

Anyone seen any news clips involving Momofader today?

Thu, 08/04/2011 - 16:10 | 1524599 IQ 145
IQ 145's picture

Yeah, happy fucking birthday, you clueless moron.

Thu, 08/04/2011 - 16:38 | 1524678 NuckingFuts
NuckingFuts's picture

You beat me to it.  I was humming it while reading the thread. The song for tommorow.

 

 

Thu, 08/04/2011 - 16:16 | 1524626 Critical Path
Critical Path's picture

"Bank of Oppotunity" gone by this weekend?  Good riddance...

Thu, 08/04/2011 - 16:28 | 1524649 Doyle Hargraves
Doyle Hargraves's picture

I don't know for sure but if today is any indication, it is totally possible if tomorrow looks like today BAC may not survive another day like this. If people are looking at the situation and pulling their money out of that shithole then the demise would definitely be a lot faster a matter of hours. Those bastards will eat their own (TPTB/fed/house of morgue/gs, et al.) if they can consolidate power and further enslave the rest of us and loot the the feeble treasury completely dry. As I said I don't know for sure but sure sounds like a play out of their playbook. I would laugh if I am right though, well not laugh just be dumbfounded at how far those who run shit will go to get the sheeple behind their MAD plan of printing and borrowing to oblivion. BTW I hate BAC and hope they burn in hell just because of the sordid dealings I have had with them over my lifetime.

Thu, 08/04/2011 - 21:34 | 1525285 NumNutt
NumNutt's picture

well said, agree 100%

Thu, 08/04/2011 - 16:42 | 1524686 karzai_luver
karzai_luver's picture

Burn in hell - lock that down!

 

There are some who saw  the inside of a few of those BAC bored-rooms and now on the outside KNOW that shit is weak and going to burn.

 

 

 

Thu, 08/04/2011 - 16:46 | 1524692 Stochdoc
Stochdoc's picture

For those guys 6.66 is more appropriate.

Thu, 08/04/2011 - 17:09 | 1524749 Grand Supercycle
Grand Supercycle's picture

Bearish daily and weekly equity charts strengthen further.
S&P500 head and shoulders target is 1,176 and further downside
expected.

As mentioned for some time - S&P500 monthly has been tracking
sideways this year. This extensive distribution signified a
bearish big picture and that a significant downtrend would follow.

stockmarket618.wordpress.com

Thu, 08/04/2011 - 18:31 | 1524933 Woodyg
Woodyg's picture

I guess Vampires don't live forever. Someone put a wooden stake BAC and get it over with!

JPM next hopefully.

Thu, 08/04/2011 - 20:35 | 1525144 ghostzapper
ghostzapper's picture

Juat drill this piece of s%^t down to 0.01 and get it over with already. 

Thu, 08/04/2011 - 21:38 | 1525293 Space Potato
Space Potato's picture

512=8

Thu, 08/04/2011 - 22:54 | 1525477 johnnysize
johnnysize's picture

You should exercise your put option on your home. The Bank doesnt care...they willnegotiate to get the last penny out of you. Next time, borrow at a community bank a reasonable amount and let them HOLD the loan... MAKE SURE OF THIS!!!!!!! Its part of our recovery as a nation.

Thu, 08/04/2011 - 23:29 | 1525561 Grand Supercycle
Grand Supercycle's picture

S&P500 Financials Index has been giving warning signals for a long time.

http://stockmarket618.wordpress.com

Wed, 09/14/2011 - 04:48 | 1667398 chinawholesaler
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