Wednesday, October 20, 2010
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...
Posted by Dave in Denver at 8:25 AM