• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Presenting Anthony Polini's Bank Of America Price Target Accuracy Track Record

Tyler Durden's picture

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Wed, 08/24/2011 - 10:17 | 1594886 unky
unky's picture

Off Topic: What is going on with Gold and Silver? Gold down $70 in few minutes?

Wed, 08/24/2011 - 10:19 | 1594893 Tyler Durden
Tyler Durden's picture

Liquidations and rising stops hit.

Wed, 08/24/2011 - 10:20 | 1594907 NewThor
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Tyler are you Batman or Julian Assange's brother?

you can only pick one.

Wed, 08/24/2011 - 10:23 | 1594920 lizzy36
lizzy36's picture


He looks really hot in tights and a cape (or so i have heard).

Wed, 08/24/2011 - 10:27 | 1594937 Temporalist
Temporalist's picture

And he and Marla live in a cave.

Wed, 08/24/2011 - 10:41 | 1595023 Tortfeasor
Tortfeasor's picture

I miss Marla

Wed, 08/24/2011 - 10:25 | 1594932 slaughterer
slaughterer's picture

I see Tyler as "the Joker" as played by Heath Ledger. 

Wed, 08/24/2011 - 10:29 | 1594952 EscapeKey
EscapeKey's picture

Gold always had to come down before the QE3 announcement.

Let me guess, the cartel was behind the move upwards since Wednesday last week. They bought tons of futures, only then to have a firesale by Monday, escalating through to the next COT report timeframe, which means "selling" will probably stop around Thursday. This leaves COT reports relatively neutral from the perspective of the commercials.

That will then leave gold to whip back up a considerable amount on Friday as QE3 is announced.

Wed, 08/24/2011 - 10:34 | 1594972 swissaustrian
swissaustrian's picture

+ Options expiry on friday.

Wed, 08/24/2011 - 10:48 | 1595062 Reggie Middleton
Reggie Middleton's picture

How much worse is Polini than the mass of Wall Street's sell side??? Look at broker accuracy to determine if you would have made more following broker recommendations or shortng said recommendations!


Thu, 08/25/2011 - 00:33 | 1598159 NewThor
NewThor's picture


Wed, 08/24/2011 - 10:19 | 1594897 SheepDog-One
SheepDog-One's picture

'No QE3' has been leaked I bet.

Wed, 08/24/2011 - 11:16 | 1595191 Rikki-Tikki-Tavi
Rikki-Tikki-Tavi's picture

Agree, USD also getting stronger.

Wed, 08/24/2011 - 10:19 | 1594898 NewThor
NewThor's picture

I don't know.

No QE3 should be good for gold and silver.

Yes QE3 should be good for gold and silver.

Wed, 08/24/2011 - 10:24 | 1594926 SheepDog-One
SheepDog-One's picture

'No QE SHOULD be -2,000 instantly from the DOW....'no QE' does not mean we've printed less fiat.

Wed, 08/24/2011 - 10:32 | 1594960 Vincent Vega
Vincent Vega's picture

I would think 'no QE' would also be US$ positive but the DXY is currently 73.74   

Wed, 08/24/2011 - 10:43 | 1595033 OuaisBla
OuaisBla's picture

Their is lots of divergence on the DXY right now. So Consolidation phase near the bottom might be close to be done. IMO


Then next is an epic fall (stop loss being hit)  or an epic rally (short covering) for the green back. I'm inclined for and epic rally. 78 maybe. The FED might sell expose themself on the longer term of the yield curve to "support" the economy and less on the short end "to help reduce inflation expectation." Of course if that is the case then no QE3.


The up tick at 76on the DXY few weeks ago out of the BB was impressive. "No QE3" might habe been leaked back then IMO. The QE3 drama was well played by institutional player IMO.

The S&P Downgrade was timely if you ask me. And merely a reason to unload their bullish bets, something that was planned few months back.


Wed, 08/24/2011 - 10:19 | 1594901 doomandbloom
doomandbloom's picture

Roubini dancing with joy...

Wed, 08/24/2011 - 10:21 | 1594912 SheepDog-One
SheepDog-One's picture

Equity pumpmonkeys wont be dancing with joy Friday when they realize theyre locked in a burning building.

Wed, 08/24/2011 - 10:38 | 1594996 Seer
Seer's picture

Is there anything more negative than DEAD?  I mean, the guy has to be dancing on his own grave if he's dancing.  He'd claimed that gold MIGHT go to $1,100/oz but never $1,200/oz.

Clowns to the left of me, jokers to the right...

Wed, 08/24/2011 - 20:37 | 1597531 StychoKiller
StychoKiller's picture

NEVER is such a long time, I only use the word when I'm being facetious!

Wed, 08/24/2011 - 10:21 | 1594909 Gunther
Gunther's picture

Options expiration tomorrow.

Banks do not like to pay out theit loosing bets.

Wed, 08/24/2011 - 10:23 | 1594922 They_Live
They_Live's picture

Freegold genesis?

Wed, 08/24/2011 - 10:26 | 1594935 Dr. Engali
Dr. Engali's picture

Just take the opportunity to buy silver. Gold should have a larger pull back once Paulson has to start liquidating gld to meet redemptions.

Wed, 08/24/2011 - 10:18 | 1594891 SheepDog-One
SheepDog-One's picture

Meanwhile, equities continue to euphorically price-in QE7 apparently...

Wed, 08/24/2011 - 10:18 | 1594892 working class dog
working class dog's picture

asia increasd gold margins

Wed, 08/24/2011 - 10:19 | 1594896 Catullus
Catullus's picture

I heard Ogolfer is hiring. Hahaha.

Wed, 08/24/2011 - 10:19 | 1594899 slaughterer
slaughterer's picture

Polini will be "King for a Day" (precisely today), until his followers wake up in a pool of blood and vomit a short time from now. 

Wed, 08/24/2011 - 10:19 | 1594902 alien-IQ
alien-IQ's picture

The amount of time CNBC seems to be dedicating to defend BAC should in and of itself be substantial cause for concern about the viability and solvency of BAC.

I feel that they have confirmed that all the rumors are in fact true.

Wed, 08/24/2011 - 10:29 | 1594938 slaughterer
slaughterer's picture

Has Cramer made a "BUY BAC" call yet?  Or does he just think it is "safe to keep money in BAC"?   Nuances, nuances.   

Wed, 08/24/2011 - 15:39 | 1596317 Western
Western's picture

Excellent memory. Even after Cramer exposed himself as a tool used to destroy retail investors, he still is looked up to like a messiah.

Wed, 08/24/2011 - 10:41 | 1595020 A Man without Q...
A Man without Qualities's picture

If BAC goes down it could well take the entire fraud which is the US financial system with it.

It's not a simple matter of solvency, it is a question of how far you can bend the legal system before it snaps.

The fuckers are sweating on this one, lying awake at night questioning whether the game is up.  But let's be really clear about one thing - none of them wants to fix this, what they want is to pretend it will just go away, so they can get back to sucking blood out of the system for just a bit longer...

Wed, 08/24/2011 - 10:54 | 1595095 alien-IQ
alien-IQ's picture

Second Rule of Zombieland: Double Tap.

Wed, 08/24/2011 - 10:46 | 1595049 falak pema
falak pema's picture

Wouldn't it be funny if the guy who dead dropped Perry with his "I'm from BofA, We'll help you" spiel went up to Moynihan in a breakfast lobby-ist's party and said the same thing :

"I'm from B of A we can help you..."

Lol, self fulfilling philosophy personified. 

Wed, 08/24/2011 - 10:49 | 1594903 Nate H
Nate H's picture

Thanks Tyler - these are so classic.  These high paid analysts are incredibly articulate, but have huge self-deception modules that erase their prior record. Such modules are adaptive - if we wallowed in our own bad calls, we'd never be able to motivate when we wake up. But sell side wall st has more than their share...

Wed, 08/24/2011 - 10:20 | 1594905 PaulsMom
PaulsMom's picture

While you're at it, take a look at RX Bove's record. The same chart, but with higher targets..


Wed, 08/24/2011 - 10:20 | 1594906 working class dog
working class dog's picture

contrary to Polini, cramer said he was disappointed in BAC the other night, so Cramers buy signal from god should offset Polini cheerleading. SO BAC is sideways.

Wed, 08/24/2011 - 10:21 | 1594910 kahunabear
kahunabear's picture

What a freakin' hack this guy is.

Wed, 08/24/2011 - 10:21 | 1594911 lizzy36
lizzy36's picture

From June 2009 when BAC was trading at $6.87:

“I’ve been following banks for more than 20 years and I’ve never seen a company come out of a recession with so much core earnings power and so much strength,” Polini told CNBC.

“Bank of America

looks like an easy double in a year and it looks like a triple in 2 years from this level.”

And he got bonused on this great great predication.

Sell side analysts: adding value since never.

Wed, 08/24/2011 - 12:53 | 1595622 AbandonShip
AbandonShip's picture

Why do they even talk on CNBS?  They should just show charts like Tyler's above and it would be more enlightening than anything their anchors or guests could come up with.  Oh and leave the pretty girls on, but they can't talk either.  C'mon Comcast, DO IT!

Wed, 08/24/2011 - 10:21 | 1594913 ZeroPower
ZeroPower's picture

Agreed, if there was a 4th tier, RJ would definitely fit right in.

Wed, 08/24/2011 - 10:21 | 1594916 buzzsaw99
buzzsaw99's picture

bubblevision will be interviewing winos down at the park next.

Wed, 08/24/2011 - 10:22 | 1594918 scratch_and_sniff
scratch_and_sniff's picture

Meredith Whitney and Pressprich from Brain Charles defended them on bloomberg this morning too, along the lines of - not in need of more capital and the move in the stock was shocking etc.

Wed, 08/24/2011 - 10:28 | 1594945 anynonmous
anynonmous's picture

Whitney was almost bullish on the banks this morning

has she gone to the dark side (she did get  invited back to Jacks hole maybe that was the cost of admission)



Wed, 08/24/2011 - 10:23 | 1594921 orca
orca's picture

Well, I have gone long 6,49. The only thing more fun than being right on a good share is being right on a bad share. GM and FNM and C etc also doubled and tripled before their wipe-out, purely on false rumours and short covering. So I salute you tony Polini, good call!

Wed, 08/24/2011 - 10:43 | 1595036 A Man without Q...
A Man without Qualities's picture

Long BAC, short GLD - it's like swimming in shit to find a diamond ring...

Wed, 08/24/2011 - 10:24 | 1594928 pendragon
pendragon's picture

a proper barrel scraping operation

Wed, 08/24/2011 - 10:25 | 1594931 Temporalist
Temporalist's picture

Polini is probably right.  Hell if JP Morgue-n can make $93million risk free on $111 billion from Fed why can't BAC?

Free money...what could go wrong?

Wed, 08/24/2011 - 10:27 | 1594936 PulauHantu29
PulauHantu29's picture

Which bank will be forced by the Fed to buy BAC?

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