Wednesday, October 20, 2010

Look Out Below: BAC In Liquidation Mode

Not quite in "take no prisoners" mode, but I would guess a big hedge fund is hitting the exit button:

(click on chart to enlarge)

If you own this stock, you still have to get out before the slow moving elephant herd of fund managers (i.e. Janus) realize they have to sell or face fiduciary responsibility lawsuits from big fund investors.

We've seen this pattern before. It will not end well unless you are short the stock...

This just in:  Bank of America RICO'd in Indiana:  Bank of America Accused of Racketeering in Foreclosure Lawsuit in Indiana

Here's the news link from Bloomberg:  Look Ma, No Hands  Expect many more of these...


6 comments:

  1. I will throw a BAC party in their honor...Goodbye Bank of America...don't let the door hit you in the ass on the way out.

    Oh and ( Whispers ) pull your money out of the bank folks..wink wink.

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  2. Dave we just had a EUR/USD cross...

    Interesting.

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  3. just shorted bank of America 3500 shares .

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  4. So BAC is the new garbage can? Will they get assets dumped on them or will they dump on someone else in a sweetheart takeover? Maybe JPM is stuffed to the gills with crap so the taxpayers will take it over.

    That is how it goes in a banana republic anyway.

    Armaggedon happens if we don't pour billions into this garbage can, they'll say.

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  5. Rothbard, they already dumped the garbage of Countrywide and Merrill into the BAC can. Now it's time to do a complete chemical burn. Maybe they'll recycle some of the thermate found at ground zero to get the annihilation started...

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  6. I love your posts, Dave! And what I most love is that you are a genuine patriot and not a brainwashed Ami.
    Why can't more Americans be like you?! Instead of hating you - the world would love you!

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