Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
end of the day, they walk away with all fat dividends and their money, should something happen.
Today was a field day for BAC, I wonder what's cooking for tomorrow
They are going to see-saw between 4 and 6 in the coming weeks. Nothing really, I should say pump and dump? If they are to get some respite, it's gonna take at least 3 or 4 quarters of progress.
Jason, do you think the establishment will let this bank self-destruct? They are in very bad shape, but who else will fall if they are allowed to fail?
Nobody was expecting AIG to tank, it came out of nowhere as soon as Lehmann was gone. Nothing was even cooking all thru 2008, ever since Bear Stearns went under. But AIG came out of nowhere. So if BAC is going under, what is the collateral damage? I don't think it will be pretty.
We all are FDIC insured sure. But it could take years for the FDIC to return the customer money or I don't know...... nightmare situation.
Jason, do you think the establishment will let this bank self-destruct? They are in very bad shape, but who else will fall if they are allowed to fail?
Nobody was expecting AIG to tank, it came out of nowhere as soon as Lehmann was gone. Nothing was even cooking all thru 2008, ever since Bear Stearns went under. But AIG came out of nowhere. So if BAC is going under, what is the collateral damage? I don't think it will be pretty.
We all are FDIC insured sure. But it could take years for the FDIC to return the customer money or I don't know...... nightmare situation.
Maybe. The FED has pumped a TON of money into the banks right now. Trillions. It's not even known how much they've "loaned" the banks. It's unlikely the FED will allow BAC to fail but who knows. Obama's hands are tied on the issue unless he wants to just bow out to another candidate before the elections.
Right now the current sentiment says "Let em' fail". Look at how successful Ron Paul's campaign is. He would let every business that makes dumb decisions fail. That's what a free market is really all about anyhow.
If BAC is permitted to fail it's hard to see who else may fail. Anyone who has large amounts of money with BAC could potentially be pissed. Businesses who secured loans through them may enter a quagmire. I don't even want to imagine what their housing loan conundrum would be like.
Best way to protect yourself or mitigate potential damage is to not bank with BAC. I have a credit card through them but don't really care that much as we only have it for airline miles. Use a local credit union instead.
If you're going to invest in BAC right now (you've got balls) I recommend buying options over the stock since it will limit losses. It's not for me as I'm more into selling options. Been trading very nicely lately with Ford bouncing back and forth between 10 and 12 dollars. If it remains in that range for a few years I'm going to be retiring at 34. I can dream anyway.
Come January, I'll start getting out of the puts, all of them have been in the money for a while. Once in 2012, the decay will wear some of the profits fast.
Well, Modeerf, Christmas has come and gone. Are you pleased with your talents as a teller of the future?
Nope, i am hopelessly pre-mature in nearly all aspects of my life... "nearly all aspects". For those that wish to make jokey..
BAC will either get bailed out, or the court cases that are piling up in every state of the US will bankrupt them, and JP Morgan will take them without any of the countrywide baggage, or Merrill junk.
Guess who gets that crap.... My Grandchildrens children..
I bought it at 13. I am still holding. How low do you guys think it can go?
Hold tight, it will get there in a year or so. Look at it as a long term investment.
I briefly rode this stock when it was in the early teens.
I however have lots of puts and calls through 2012 and 2013.
Forget this stock and look at something like a metal sector - molybdenum, copper, silver - stay away from financials, unless you are trading.
I am personally planning to buy at 4ish, but I have stopped recommending BAC. High risk and I don't wanna pump it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.