Shame About the Banks and Government
Now it became crystal clear where those strong buys and upgrades come about. Bank of America issue 800 million new shares at $10 after the market close today. I guess they dare not to announce the offering the same day as the upgrade otherwise is will too obvious. Too bad the housing data give the bank share a big blow. Otherwise BAC shares could be manipulated well above $13.
I was angry because the rule of the game is never fair for small investor like me. I felt being played and cheated almost ten thousand dollar by those market manipulators. I feel shame of the government and the banks. The whole stress test, the spin on Bank of America’s capital short fall, the strong buys and the upgrades on Wells Fargo and BOAC are totally scam only to entice investors’ money. And they are even spinning on repaying the TRAP will hurt taxpayer. That is bull shit.
I have learned a big lesson out of it. Out of the angry I shorted Bank of America 2000 shares after market at $11.19 and $11.32 and cover all of them it at $11. My balance went up about $500 more. But it is no comparison to my ten thousand dollar lost.
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Hey, i totally agree with you, BAC is playing a Bullshit Game with the market and with the investors
I love this website. I like your analysis and most of them provide good insight and deep thoughts. Way to go!
Thanks again,
Leon
Thanks Leon! Your comment makes my day in addition to the gain from my trades today. But my blog should not be taken as investment advise. I like to share my thoughts with the public and I enjoy it. Hope you come back frequently. =)
I traded SKF frequenty in the recent weeks and I feel that there is still very bullish momentum in the market. Risk gets higher to bet against the banks. I feel even if the market falls this summer, prior to that there will be some kind of rally for financials.
I play SKF as the inverse to protect any long position on my financial stocks. That way I’m protecting any downfall on stocks like (BAC) and (C).
So you are doing hedging. I am not a big fan of hedging, coz it feels like I buy 100 shares of BAC, and right away I short sell 100 shares of BAC. After all there is always one stock in my portfolio that is in green…:)
I have to say the market is as irrational as it can be. A stupid (and can be manipulated) consumer confidence index can send the market up 200 points. Have to admit the market is still very bullish.
Will wait and see if the DOW can make it through this week and break through 8700.
Hi, cool post. I have been wondering about this topic,so thanks for writing.
Since crooked nehru dynasty and agents have appeased minorities and made them rich during the past 60 years, ONLY poor hindus must be considered fir distributing these looted funds whenever they are are brought back to our country.