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Bank of America to go under!

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The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
 

wayneL

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America to Go Under!

I've corrected the title /\
 

prawn_86

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The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
Care to actually provide the 2 charts...??
 

wayneL

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This is why we look at fundamentals, and not charts, to tell if a company is going bankrupt or not.

JM.
Nonsense.

Both offer clues only. Only the story behind the story tells the real story... and events in the fullness of time.
 

wayneL

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Nonsense.

Both offer clues only. Only the story behind the story tells the real story... and events in the fullness of time.
OK what I mean is that fundamental information may seriously lag reality. Technical information may sometimes "front-run" the fundamental reality.

There are numerous examples of this.
 

wayneL

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PS - This is not to say that I believe BAC is going BK, but the chart (which I have not viewed) may be giving a "heads up".
 

skc

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The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
That seems to be as good a trigger for the next leg down as anything else...
 
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BofA and its buddy Citi(s-hiti)Bank has been in life support since the GFC. Thanks to Uncle Benny's money printing presses.
Between them, they hold millions of homes under water or in repossesions, not to mention non-performing business loans.....but wait.....how about those toxic CDOs
and other derivatives that been swept under the carpet.

Thats the Fundamental and its efficiently reflected on their share prices.
 

skc

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BAC going bankrupt because AIG is suing them for $10B.

AIG makes history by being the only company that causes 2 financial crisis.
 

wayneL

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BofA and its buddy Citi(s-hiti)Bank has been in life support since the GFC. Thanks to Uncle Benny's money printing presses.
Between them, they hold millions of homes under water or in repossesions, not to mention non-performing business loans.....but wait.....how about those toxic CDOs
and other derivatives that been swept under the carpet.

Thats the Fundamental and its efficiently reflected on their share prices.
Citi? Wha.....???

Please say it ain't so...

... not until I completely extract my last skerrick of cash :p:
 
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The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
The problem is the US has gone soft. There are still some issues in the marketplace that need to be adressed :p:
 
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Saved (for now) on the back of the massive short covering rally sweeping the world markets. Shorters had to take huge profits sooner or later. Once the short-haired herd began stampeding for the safety of the cash registers, it was on in earnest!

Don't be surprised if "economic reality" causes some serious volatility in coming days/weeks though. Plenty of cash in shorters hands now to instigate another plunge when desired....
 

nomore4s

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Saved (for now) on the back of the massive short covering rally sweeping the world markets. Shorters had to take huge profits sooner or later. Once the short-haired herd began stampeding for the safety of the cash registers, it was on in earnest!

Don't be surprised if "economic reality" causes some serious volatility in coming days/weeks though. Plenty of cash in shorters hands now to instigate another plunge when desired....
You should write for a tabloid newspaper with that sort of dribble.
 

skc

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Saved (for now) on the back of the massive short covering rally sweeping the world markets. Shorters had to take huge profits sooner or later. Once the short-haired herd began stampeding for the safety of the cash registers, it was on in earnest!

Don't be surprised if "economic reality" causes some serious volatility in coming days/weeks though. Plenty of cash in shorters hands now to instigate another plunge when desired....
It's alright. The world will ban these parasite shorters again (like Korea and Greece has done already) and the market will be all hunky dory again.

Surely share prices are only falling because people are selling..

P.S. I am extremely worried that it might actually happen - that would put my pairs trading out of business for a while :mad:
 
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It's alright. The world will ban these parasite shorters again (like Korea and Greece has done already) and the market will be all hunky dory again.

Surely share prices are only falling because people are selling..

P.S. I am extremely worried that it might actually happen - that would put my pairs trading out of business for a while :mad:
Yeah, I noticed that. The old "bad shorts" are being hung out to dry - again. I also not that the Korean market is now going to be the plaything of "state run funds" who will be ordered to buy, buy, buy to help shore up equity prices.

How frikkin' artificial a market is that?? LOL

Maybe the Yanks should follow suit and order funds (on penalty of arrest) to engage in massive buying of BofA stock! No naughty shorts, mind....
 
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I feel that there will be much more volatility coming in the next few months as they try to sort out this mess. BCA was also up 16+% today.


The Big question is, can they sort this mess out?

Jim Rogers says no, USA can't even pay the interest on the debt, let alone pay it off.


Bank of America
Bank of America.jpg


Lehman
LEHMQ.PK.jpg
 
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Just having a quick look through the thread and couldn't see any mention of the fact that Interactive Brokers use BAC in Sydney for Aussie deposits. What is the circumstance in regards to this IF BAC went down? For memory, i have read on another thread that your money is in trust, can someone confirm this?
 
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