The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
This is why we look at fundamentals, and not charts, to tell if a company is going bankrupt or not.
JM.
Nonsense.
Both offer clues only. Only the story behind the story tells the real story... and events in the fullness of time.
The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
BofA and its buddy Citi(s-hiti)Bank has been in life support since the GFC. Thanks to Uncle Benny's money printing presses.
Between them, they hold millions of homes under water or in repossesions, not to mention non-performing business loans.....but wait.....how about those toxic CDOs
and other derivatives that been swept under the carpet.
Thats the Fundamental and its efficiently reflected on their share prices.
The chart of BAC looks exactly like Lehmans before it went under. When BAC goes, expect the Dow to fall at least another 2000 points or even more!!!
Saved (for now) on the back of the massive short covering rally sweeping the world markets. Shorters had to take huge profits sooner or later. Once the short-haired herd began stampeding for the safety of the cash registers, it was on in earnest!
Don't be surprised if "economic reality" causes some serious volatility in coming days/weeks though. Plenty of cash in shorters hands now to instigate another plunge when desired....
Saved (for now) on the back of the massive short covering rally sweeping the world markets. Shorters had to take huge profits sooner or later. Once the short-haired herd began stampeding for the safety of the cash registers, it was on in earnest!
Don't be surprised if "economic reality" causes some serious volatility in coming days/weeks though. Plenty of cash in shorters hands now to instigate another plunge when desired....
It's alright. The world will ban these parasite shorters again (like Korea and Greece has done already) and the market will be all hunky dory again.
Surely share prices are only falling because people are selling..
P.S. I am extremely worried that it might actually happen - that would put my pairs trading out of business for a while
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