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Old 12-19-2011, 03:18 PM   #1
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BAC now has a 4 handle

BAC just fell through 5$ and is sitting on $4.93 right now. The other financials are getting a bitch slapping as well. We'll see if the PPT picks up the bid, but I doubt it.
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Old 12-19-2011, 03:42 PM   #2
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The writing has been on the wall for BAC for some time now. Die zombie bank, die!
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Old 12-19-2011, 03:47 PM   #3
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Uncle Warren is the ultimate insider. He wouldn´t have given them capital if he wasn´t ensured that BAC would be eventually bailed out.
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Old 12-19-2011, 03:56 PM   #4
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Uncle Warren owns preferred shares. I feel bad for the sheeple who got roped in to common stock on that one. BAC bouncing between 4.95 and 4.98.

Most large funds require substantially larger margins on a stock once it falls below 5$. Shouyld b3e interesting overnight and in pre-market tomorow.
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Old 12-19-2011, 04:07 PM   #5
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Originally Posted by ancona View Post:
Uncle Warren owns preferred shares. I feel bad for the sheeple who got roped in to common stock on that one. BAC bouncing between 4.95 and 4.98.

Most large funds require substantially larger margins on a stock once it falls below 5$. Shouyld b3e interesting overnight and in pre-market tomorow.
You´re right I forgot about the preferred stock deal. But even given that, the bank still needs to survive and it probably won´t without US taxpayer money.

For the lulz. BACs biggest shareholders:
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