Jim Rogers states Bank of America is going "down"

Discussion in 'Stocks' started by retaildaytrader, Oct 18, 2010.

  1. Lol
     
    #11     Oct 19, 2010
  2. Anyone want to buy my goodwill? I'm make you a deal!
     
    #12     Oct 19, 2010
  3. the1

    the1

    With the Government...err...taxpayer, covering all those loans. Sounds eerily familiar.

     
    #13     Oct 19, 2010
  4. I just looked at Yahoo finance and BAC has 114 billion dollar market cap with 1 trillion in mortgage loans that are supposedly "assets". Haha. Now thats funny.

    Now the White House is going to lean on BAC like it did BP:
    http://www.reuters.com/article/idCNN1924064020101019?rpc=44

    You know how Obama works. He will come out and do something dumb and stick to the stupidity. He might declare a 6 month moratorium like he did with the oil drilling. atever he might do, you know it will be pretty dumb and wont help the situation at all.

    I say B of A is a buy at 5 bucks.
     
    #14     Oct 19, 2010
  5. The govt isnt going to let bac or citi fail. With 45 billion for citi, and 20 billion in BAC, i mean c'mon .
     
    #15     Oct 19, 2010
  6. ...but if the stock price is diluted by the government or trades like C then it might as well have failed in investor's eyes. Lets say the government nationalizes BAC like they did GM, then the stock price will fall to a dollar or less. It might have well just failed...
     
    #16     Oct 19, 2010
  7. Illum

    Illum

    I don't read Rodgers to be saying a failure either. Just looking for a correction in markets and looking to short the weak. Can someone explain his referencing the currency markets as a big reason for the short. He mentioned this many months ago. I thought he was talking about JPM. Why is BAC more exposed in currency markets? I understand the mortgage mess, but Rodgers continues to bring up currency when talking about large western financial institutions, and exposure in market.
     
    #17     Oct 19, 2010
  8. November 20th PUTs look awfully cheap for the claimed plunge about to happen in BAC.

    Take the BAC101120P00011000 for example. Max loss: 30 cents. Max gain: $10.5-ish.
     
    #18     Oct 19, 2010