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Bank Of America Stock Back To The "(Not So) Fantastic Fives"
As of milliseconds ago, one share of Bank of America stock is now $5.99, a level it has not seen since the apocalypse back in March 2009, and upon penetrating it, a huge volume surge followed as an avalanche of sell orders were activated. However, we are confident this will be temporary. According to largely amusing rumors, Bank of America will follow through with its expropriation procedure and withdraw $5 from longs' brokerage accounts for each share they hold, effectively doubling the market cap in the process. So you see: there is nothing to worry about. Warren: resume your bath, both literal and metaphorical.
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Overvalued still. Short to oblivion!
Lets see - a $5 Footlong at Subway, or BAC stock ?? Hmmmm.....
Both can be had "toasted."
muahahahaha
1 stock of BRK.A or 10 burnt out houses in detroit....
Both the sandwich and the stock wind up as a pile of shit in the end.
somebody better start running warren's bathwater...
Ordinarily I'm fine with my contributions being anonymous, but I feel obligated to take credit for this drop. I sold half my BAC puts at the gap down this moring.
You're welcome, everybody.
"Warren: resume your bath, both literal and metaphorical."
"oh no you di'int"
He need sto take a dirt nap after his bath whilst wearing his diaper.
Several people in my cab over the weekend complaining about access problems w their BOA accounts. I told them why....one said she's moving her money to a local bank, others thinking about it.
No worries. They neither need cash nor care if the share is above 6$ (or soon 5$, 4$, 3$ ... whatever).
National Bank of Greece down 16% to all time lows of 0.666
while gold/silver up.
could only mean one thing.....a bank is going down somehere
greek bk underway
It's only a matter of weeks before most of these banks are selling in the terrible twos: too low to sell more, too high to buy the perpetual call.
It was a clear black night, a clear white moon
Warren B was on the streets, trying to consume
some BAC, some preferred stock
rollin' in his ride, total oligarch
Just hit the Eastside of the Treasury
on a mission trying to find Mr. Timmy G.
Now your stocks going down, your need a T A R P
getting rich off the taxpayer, cash for free
Simply Brilliant!
spiral, Nate Dogg tips his 40 to you, from the afterlife...
It's looking like they can do a stock buy back with every $5 fee on thier own customers! Brilliant!!
Too big to fail, it does not matter
BTFD
The Five Handle ?
Behold the One Handle: Kodak is up 69% today ! Who says that a $ 1.32 share price can't be bullish ?
Is Bank of America toast?
Or will Buffet have reason to boast?
I guess we'll soon see
Just BTFD
So that all stupid fuckers can roast!
Thank you, I did; I caught it at $5.70, @1.45pm EDT. Timeline until Dec. unless stopped out.
GET OUT THE TUB WARREN!!! YOU GOT SOME MORE MEANINGLESS BULLSHIT TO TOUT YOU FUCKING GEEZER.
@11:38 CST - $5.95
11:43 CST - $5.93
Uh-oh. Once we pass 5.90 it's over...
5.90!!!
over? i think they might qualify for the pink sheets, and they won't have to worry about those annoying audited financial statements. not that they really mean much anyway.
tons of stops at 5.90.. everyone knew it would flirt with the 6 handle, but < 5.90? that's just unpredictable territory right there...
It's been over for a long time. And am I still correct, under $5.00 mutual funds cannot own a stock? I think that is still correct.
11:44 CST - $5.91
11:55 CST - $5.88
http://www.youtube.com/watch?v=NeMrttj8Ucg
@12:39 CST - Just hit $5.62
I hope that crusty old fucker gets pissed and tries to double down.
I love the fact that the "Sage of Omaha" or whatever the fuck he likes to be called these days by the MSNBC crowd is getting corn-holed on his BAC investment. I would love for Warren to experience a classic Greek tragedy-type scenario.
Look out for that clifffffff...... SPLAT!
Die monster! You don't belong in this world!
five dolla make yoo holla!
Buffett just sharted
Ha...Ha... better close the remaining accounts.
ever wondered what Google CEO has to say about economy?
http://www.bloomberg.com/news/2011-10-03/google-s-schmidt-urges-using-bi...
Where is the demand going to come today if it’s not from some form of government action?
“The federal government can spend as much money as it wants because we borrow in our own currency,”
Economic growth comes from the private sector with government assistance
All of the economists that I know agree that in a situation where there is a strong possibility of a very long- term recession, or at least a structural growth recession, which many people think we’re in, you need to do something now
Any ideas on which economists he's talking about?
Here in the Bay Area, they all drink the same kool-Aid. Dissent is not allowed.
demand will come when overinflate bankster's assets are cheap enough.
Poor and unemployed's net wealth before deflation = $0, after deflation = $0
Rich and never needed a job's net wealth before deflation = $100M, after deflation = $50M
There, wealth gap decreased.
Ha! Suck it Buffet!
Old Mr. Buffett
Sat on a tuffet
Eating his curds and way.
Along came a squid
and stuck it's beak in and told Mr. Buffett to suck it.
If Uncle Warren liked it at seven he will love it at five. Better buy another 5 billions worth on margin.
please do warren. i'd love to double up on my shorts.
Buffett's bet wasn't on price but on whether BAC will be bailed out by the government.
Internal Chart Error.
I am ashamed to admit that QE2 turned me into a weak short. I have been burned so often. My fear is that I am not alone in this weakness, we should not be holding these levels, too much covering, no confidence. In my nightmares I see endless streams of long green candles rising forever upwards.
It used to take a lifetime to rack up the experiences you've had in a handful of years.
The mutual fund pushers were really sucking Buffet's dick last weekend on AM radio. They were debating whether he was "the best investor of all time" or just "the best investor of this generation".
I would hope that he becomes penniless, but it wouldn't matter in the broader scheme of things. Longterm momos would just find another false idol to worship.
Ha! Listened to that on the way to the coinshop.
Was this Bob Brinker the Fed lover?
For five bucks at least you can get a foot long at Subway.
Whoa, for the same amount they plan to charge debit card users per month, we can buy a share of BAC for same. Hmmmmmm
Not long before break the $5 barrier and then ala Citi, they'll try the reverse stock split, unless Obama again instructs Timmy to break up the big bank.
You have to buy a share of stock to use an ATM
Not with a BAC credit card. My managers have been calling me about payment rejections and pissed customers. Giving away sandwiches to not drive them off forever if they don't have another payment method. 6 stores.
BAC might be a buy when the 4 cent dividend equals a 4 percent dividend, but only if they can unload most of their rotten vacant houses they own. I looked at one BAC REO in Brevard county the other day and it was one rotting stinking pile of crap in a decent neighborhood (feel for the neighbors) for which they were asking $30k over county ad valorem assessment.
That's one reason why there is no way out of this. The demographics of the nation are such that our aging population doesn't need or want these houses. There are no jobs for the people who otherwise would have stepped up to the plate as buyers. Meanwhile, they are a wasting asset and will soon be unsellable.
solution = asset price deflation
but banksters whose gambling leverage depend on asset prices hate deflation
Buffets MOPE errr moat is failing.
5.95 and counting.......?!?!
I have a mortgage with BAC, what happens if it blows up?
You get to meet Uncle Scam's niece and nephew Fannie and Freddie.
just keep fighting them for the fraud in your mortgage and continue to live in YOUR house mortgage free for as long as you and your family would like (although you may not be able to ever sell it)
Sure, but I think in the process I can challenge that BAC had Linda Green sign my paperwork. Mortgage was in 2003.
No you don't.... Do a little reserach. The mortgage is probably already held by Freddie or Fannie, and it is probably registered int he MERS system. BAC does not own mortgages, they operates as a mortgage processor. FUCK them. They cannot foreclose on you. THey have already been paid for your note. Oh, speaking of your note... Try and find out where it is.....who owns it, and whether eor not you will actually receive it if you pay your note off. GOOD LUCK WITH THAT...
I also have a second mortgage through Countrywide that was bought by BAC.
How could I tell with any certainty that I will receive my note when it is paid? Would I just take someone's word for it??
Send them a request for proof of note/title "marriage" proof under ERISA to the correspondence address on the statement. They have 60 days to comply. Go to your county probate court to verify proper registration. Look it up in the MERS database online.
Template letter here: http://www.piggybankblog.com/2010/09/02/request-the-note/
Get no results, hire a lawyer.
you will owe the money to carl icahn
One day, its going to make a damn fine penny stock.
it may still be closer to $10 than ZERO, but ZERO is coming up fast
Buffett should be okay in this mess.
He said he would invest 5 bn in preferred stock, practically bonds. That should yield what 10%?
Resume yur bath.... I LOVE ZEROHEDGE...
that is worth the price of admission alone!
$5 dollar ATM fee...
$5 dollar stock!
in one short year , the scum at BOA will have taken 12 shares of their stock from ever BOA account holder......a bank run on BOA should have already become an olympic sprint by now
You're assuming the typical BOA account holder is rational. Most of them probably don't know what a stock is and I doubt many look at the statement to notice an extra $5 per month surcharge. They won't see the news either. They'll be too busy watching recordings of their favorite sports team.
Warren is such a Fucktard. He should have drowned in his fucking tub!
Economy Up Slightly but Threats Remain, Data Show- AP
same headline for the past 3 years
I hope it goes to ZERO!
Cocksuckers!
"We're B.A.C.. If you give us your money, you must be drunk!"
Paulson shitting his pants.
I love this site! Pure fucking honesty! It's like a drug.
Yeah, I am addicted. I'll donate soon, Tyler.
Make sure and use your BAC Visa.
You can't help but notice the poetic justice of a $5 fee and for seeing BAC drop as a $5 stock.
Debit card users to receive 1 share of BAC per month. We care about our customers.
And the stock is way cheaper than a toaster!
Someone check Warren's tub and see if he's still breathing......
Their website is down. People will be let back in when morale improves and the stock is over $6.00 again
When the bankers start buying back their own stock for their personal accounts it will be time to go long financials. Until then, it's a waiting game to see who survives.
The company I work for is down .06, to $2.98. Last time I saw that, I wondered "Are we going out of business"? But we're still here, 10 yrs later...
Shit hits the fan real fast in a matter of days.
Talk to folks who work for companies who went out of business. Executives put company through dissolution and arranged for liquidation auctions weeks before even telling employees.
just cashout any and all bank accounts, let's get the show on the road
Nothing would please me more than to see Warren Buffett take a $5 billion bath. It's not scheudenfreude. It's just poetic justice! Just desserts!
But if B of A goes under, there's a part of me at the gut level that knows that Obamao won't let his buddy's investment go down the tubes. He'll use OUR money -- again -- to bail out Buffett (he got $4 billion from the AIG bailout, after all), just like he bailed out the auto unions. We'll get stuck holding the bag -- AGAIN!
Keep Liberal base or Keep Warren Buffet. Interesting decision to make Obama....
Bank bailout would be highly unpopular right now, especially GIVEN that Warren Buffet played such a prominent role. Class warfare in full effect.
Obama is pretty clueless when it comes to political instincts, but if he bails out B of A again he is done in 2012. It wouldn't be the liberals he would lose, it would be the independents and he would lose 90% of them. B of A has become the poster boy for the "bad bank" in the U.S.
Word on the street is that the bath jets were clogged this morning so Warren called Barney Frank over to generate some bubbles.
http://www.statesidereport.com
Bank of Ass called my dad in a panic the other day because he was one day late on his motorhome payment. I told my dad to screw-em and stop paying altogether. I told him they panicked because they probably thought he knew something like they don't have any paperwork for your loan. Or since he is probably one of the last people actually paying them, if he goes they go.
Buffy is probabbly gone short on his Bag of Ass, already.
Tyler check out AMR ..going down in flames- American Airlines.
Haha... Flying with one engine on fire...
13:08 EDT AMR Corp. trading resumes after circuit breaker halt
$5.84 and falling, falling, falling...
Timberrr...
"Hey mista five dollah I love you long time"
Five Dollars? ALL NIGHT? Kiss you? I don't even know you?
New listing - Craig’s List Omaha:
One bathtub. Collectors Item. Once used by the second wealthiest man on the planet. Has curious scratches on the inside wall that seem to spell out “I [little heart shape symbol] BQuick”. Caution, tub may be cursed or haunted. Previous owner claims high correlation between bathing in it and financial losses.
Price: $5 or one share of BAC stock, whichever is higher.
GM just dropped through $20 as well.
and its the Fantastic Four.(TM)..dont inflate our comic heroes!!
5.71 and sinking...
Buffet is taking a bath today.
I'd rather have two mercury dimes.
Omaha boy sucks bankers cock, said it seemed as hard as a rock, problem was it smelled like hell, and now he'es not feeling well. Eating someone's shit on a stick, makes you puke, fairly quick! Time to retreat to the Omaha tub, for a good Benny bux rub-a-dub, dub, dub!
Thank you, Asshole of Omaha, for giving me another chance a few weeks ago to load up on more cheap puts!!!
Sitting at $5.53 currently. ;-)
Just a matter of time, just a matter of time.
I guess riots are a chink in the old full faith and credit armor.
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