No worries for Buffett. He'll state that there hasn't been a material change in the fundamentals.... and magically there will be no MTM loss on the position.
The 4.98 BAC print was what prompted this mornings bailout. Today was going to be a bloodbath and the central banksters knew it. Its funny how the gummint will do anything and everything to save the banks but nothing to save jobs.
lol, no, it was the downgrade. This was in the works for weeks awaiting the forced-downgrade. Do you really think this was coordinated overnight because BAC traded under $5?
Not clear what you are saying...but it does seem to me that the co-ordinated action coincided quite well with the multiple downgrades of banks, in particular the foreign banks. Heck, we've had more than three months of bullshit from the Eurozone about ECB, EFSF, IMF intervention and now, all of a sudden, we see this.
yep kick me real hard in the ass...! please!!!! need a f-cking vacation, burnt out and losing my mind with all this volatility, uncertain economic and world news, blah blah blah !! I have no idea how to handicap this insanity anymore. gonna start relying on luck when I hold positions. Damn.. I had bullish put spreads + long call + GS stock. never figured it to go higher. sold stock of course now there's another g-damn gap to resolve. gonna short some, unless some confirmation this is a runaway gap.
I'm stating that it was done to coincide with the inevitable downgrade... not something as arbitrary as BAC's trade <$5. These things take days, a week.....
Please do tell. Stock is now down 2% - 3% from it's spike higher today. This is a dog and appears to be readying to make a big push lower... Today's distraction hasn't solved anything for BAC.