This is nuts…these are pretty much the only 2 major retail banks left in the country. BofA is trading at a 52 week low…again. It seems like they are being pushed to new 52 wk lows with a subsequent 100% bounce afterwards.
You forgot about the new powerhouse Wells Fargo/Wachovia
yeah i think bank of america is a good investment to make long term.
Re: Bank of America and Citi new Posted by: jimjohn (IP Logged) [hide posts from this user] Date: January 14, 2009 12:53PM yeah i think bank of america is a good investment to make long term. That’s what I thought at $20.
trek7000 Wrote: ------------------------------------------------------- > You forgot about the new powerhouse Wells > Fargo/Wachovia And J.P.MorganChaseManhattenChemicalBearsternsWaMuBankOne etc.
Have a look at HSBC…think its a great short opp get your hands on the MS report from yesterday if ya can…some good points in there
Has BAC completely cut their dividend yet? They cut it 50% months ago but I don’t see how they’re going to manage a paying out a 12% yield.
Bill.S.Preston,Esq Wrote: ------------------------------------------------------- > Have a look at HSBC…think its a great short opp > > get your hands on the MS report from yesterday if > ya can…some good points in there The MS report has been noted by peers to have a few questionable assumptions. Namely UBS, Citi, and Dresdner were in disagreement on some critical points.
Don’t buy anything, while the market is falling. Short or cash on a downtrend.
CDS spread on BAC rose from 30 bps to 210.
Rumor floating around that Citi will enter conservatorship this weekend… heard it from Deutsche and RBS so far…
seriously… can BAC’s be so bad to warrant this? They’re priced like we’re going to see half the American population stop paying their credit cards and mortgages. Its going to be under $7 soon.
Chuckrox8 Wrote: ------------------------------------------------------- > CDS spread on BAC rose from 30 bps to 210. you mean: “from 180”
Yeah, whoops.
“seriously… can BAC’s be so bad to warrant this? They’re priced like we’re going to see half the American population stop paying their credit cards and mortgages. Its going to be under $7 soon.” You are seeing naked shorting by hedge funds in action. Enjoy.
but i dont get this, wouldnt news that the government might give BAC billions of dollars be good news for the stock?
Thankfully we are getting rid of this mafia controlled admin along with the thug Chris Cox. Obama’s new SEC appointee will get rid of the uptick rule and clamp down hard on the crooks.
jimjohn Wrote: ------------------------------------------------------- > but i dont get this, wouldnt news that the > government might give BAC billions of dollars be > good news for the stock? not if the gov’t wants to dilute the equity
Louis, am I missing something??? What uptick rule?
Here ya go buddy… http://en.wikipedia.org/wiki/Uptick This has turned the market into a Casino. Especially with so many 2x, 3x ETFs floating around. Reminds you of the different kinds of slot machines.