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Rumor has it that a major bank is going down before the end of the week. The rumor mongers say its Wells Fargo, which is odd since WFC is down less than a lot of others banks stocks today. Sure makes the day more interesting whether it's true or not. Lots of movement and us low life traders love movement
My guess is the whole thing is BS. I think the gov't has made it very clear they're not going to let one of the biggie's fail. It would be silly to change now after all they've spent. Whatever the problem is, assuming there even is one, I'm sure it can be fixed for a few hundred billion or so.
Market is over extended and needs to take a hit. This is just an excuse for the selling, imo. Financials aren't even down that much considering.
Rumor has it that a major bank is going down before the end of the week. The rumor mongers say its Wells Fargo, which is odd since WFC is down less than a lot of others banks stocks today. Sure makes the day more interesting whether it's true or not. Lots of movement and us low life traders love movement
Well we all know that the infamous Warren Buffett is "always" right, and makes comments without any vested interest.
He owns a bunch of Wells Fargo, and gee, the Oracle cannot be wrong. Can he?
Our other brilliant friend "Kramer" loves Wells Fargo, scary huh?
It's a crap rumor. The same people who invented a mysterious bank holiday that they knew 100% was going to happen in August (which never did) invented this. WF is fine, I took a personal interest in it's performance being that my money is there and it's safe and sound in my honest opinion as a financial analyst.
Citi isn't going down. Afterall we own like 34% of that pig so no way it fails. Though it may be the worst run bank in the history of money.
The whole rumor is BS. This is just another reason why it's important to stay calm, collected, rational and level headed. Someone, supposedly Goldman Sachs, bought a truckload of WFC puts today and off to the races we went with wild speculation. Maybe an offering is coming, who knows? But they ain't going down and neither is any other major bank.
I saw all the action in WFC puts today... there was a lot! Personally I think a lot of the market unease is due to the story that broke recently that has not been that highly publicized. China has directed its State Owned Enterprises not to honor their derivatives contracts that are deemed too risky. China's SOEs May Terminate Commodities Contracts
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