Bank of America - Dead Cat Bounce?
Did I speak too soon? Ho-Lee COW we had a good day yesterday. Bank of America roared back with the rest of the financial sector over 4 points to $22.67!!! Woo Hoo! Talk about skyrocketing. Of course, this is the 3rd week of the month, so I’ll bet you dollars to donuts that this is a classic short squeeze. We may see BAC fall again by early next week after options have expired.
Then again, maybe this is “the bottom” and a recovery is on the way? Future oil demand is falling, along with the price of oil. The government (rightly or wrongly) is bailing out Fannie and Freddie. This may be the tipping point toward a new bull market!!
Time will tell. 
July 17th, 2008 at 9:53 pm
rumors has it that bank of america will follow indymac into finanacial ruins…….is this true?……..my banking center manager gave me reasons to beleive this to be true……..
July 17th, 2008 at 10:49 pm
Not a chance. If Bank of America fails, then America has problems far beyond our 401k balances. Bank of America (at least in the Fed’s eyes) is “too big to fail”. They already bailed out Freddie Mac and Fannie Mae. If Bank of America gets into enough trouble, they’ll get bailed out too.
I’m not saying it’s right. I’m just saying it is what it is…
August 9th, 2008 at 9:37 pm
I don\’t feel like entering in such a consideration.
August 12th, 2008 at 8:55 pm
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