Bank Of America Stock Back To The "(Not So) Fantastic Fives"

Tyler Durden's picture

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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GeneMarchbanks's picture

Overvalued still. Short to oblivion!

Josh Randall's picture

Lets see - a $5 Footlong at Subway, or BAC stock ?? Hmmmm.....

SWRichmond's picture

Both can be had "toasted."

 

muahahahaha

spiral_eyes's picture

1 stock of BRK.A or 10 burnt out houses in detroit....

redpill's picture

Both the sandwich and the stock wind up as a pile of shit in the end.

bigdumbnugly's picture

somebody better start running warren's bathwater...

Biosci's picture

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.

Bananamerican's picture

"Warren: resume your bath, both literal and metaphorical."

"oh no you di'int"

Freddie's picture

He need sto take a dirt nap after his bath whilst wearing his diaper.

CompassionateFascist's picture

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.

dlmaniac's picture

No worries. They neither need cash nor care if the share is above 6$ (or soon 5$, 4$, 3$ ... whatever).

AldousHuxley's picture

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

franzpick's picture

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.

spiral_eyes's picture

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

redpill's picture


This is the way the world ends

This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.

Alienated Serf's picture

spiral, Nate Dogg tips his 40 to you, from the afterlife...

LongBalls's picture

It's looking like they can do a stock buy back with every $5 fee on thier own customers! Brilliant!!

johnnymustardseed's picture

Too big to fail, it does not matter

Don Birnam's picture

The Five Handle ?

Behold the One Handle: Kodak is up 69% today ! Who says that a $ 1.32 share price can't be bullish ? 

The Limerick King's picture

 

 

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!

IQ 145's picture

Thank you, I did; I caught it at $5.70, @1.45pm EDT.  Timeline until Dec. unless stopped out.

tekhneek's picture

GET OUT THE TUB WARREN!!! YOU GOT SOME MORE MEANINGLESS BULLSHIT TO TOUT YOU FUCKING GEEZER.

tekhneek's picture

11:43 CST - $5.93

Uh-oh. Once we pass 5.90 it's over...

Careless Whisper's picture

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.

 

tekhneek's picture

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...

monopoly's picture

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.

Gief Gold Plox's picture

@12:39 CST - Just hit $5.62

redpill's picture

I hope that crusty old fucker gets pissed and tries to double down.

ElvisDog's picture

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.

Jonas Parker's picture

Look out for that clifffffff......   SPLAT!

czarangelus's picture

Die monster! You don't belong in this world!

Comay Mierda's picture

five dolla make yoo holla!

 

 

Buffett just sharted

LawsofPhysics's picture

Ha...Ha... better close the remaining accounts.

mantrid's picture

 

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?

 

Missiondweller's picture

Here in the Bay Area, they all drink the same kool-Aid. Dissent is not allowed.

AldousHuxley's picture

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.

Archimedes's picture

Ha! Suck it Buffet!

Miss Expectations's picture

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.

Dr. Engali's picture

If Uncle Warren liked it at seven he will love it at five. Better buy another 5 billions worth on margin.

tekhneek's picture

please do warren. i'd love to double up on my shorts.

AldousHuxley's picture

Buffett's bet wasn't on price but on whether BAC will be bailed out by the government.

 

 

Fips_OnTheSpot's picture

Internal Chart Error.

Village Smithy's picture

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.

Smiddywesson's picture

It used to take a lifetime to rack up the experiences you've had in a handful of years.