Well put and nice analysis………who knows…between Russell and Will Smith ( Legend) it may all come true
EdwardFeb 7, 2009 @ 17:36
Rick,
The info you provide about Dow Industrial Average choosing BAC one year ago, only to see a 90% drop in price, may seem like a minor point in this environment – but geez, that’s got to be an embarrassment to the Dow. Another reason for the world financial headquarters to be relocated to Singapore, Hong Kong and Dubai.
What will NY become? Maybe Kurt Russel’s 1981 film will come true: Escape From New York. Directed by John Carpenter. Carpenter may end up being the most prescient futurist that ever lived. Remember that one? ha ha ha Maybe NY will become a port of exit for US emigration. “Ellis Island, Gateway to the World. We send you our tired, our poor and hungry, to get them off our back.”
AlFeb 5, 2009 @ 23:22
The banks will get nationalized that is for sure. I don’t know why the gov’ does not buy all the banks NOW, instead of doling out trillions to the “crook'” and “Rats” who got us into this debacle. They should all be shot….China style…go back till and get all the guys who took hundreds and billions as salary running these public companies…pay with blood.
The dow is going to 6,500-5,500 area and then 3,000 and eventually 1980 lows or highs…it will happen 2011/2013/2015???
The US banking system is broke, insolvent, the cities and states are broke the pensions funds…..they are no more…they lost all thier money investing in “Blue Chips” like Citi, BAC, Lehman etc……
When this party is done…people will not believe it…and Bush should then apologize to Chavez…because we will be worse than Venuzuela….like Zimbabwe.
Who says Fascism left with Mussolini…it was just disguised and here all along.
Money is in shorting and commodities I believe.
Macdonalds, IBM, anything that has not dropped drastically will after April 09 in my opinion.
Will MSFT get to $3??? I think it will by 2011 or before.
Then you will get the Amero as your new currency.
RichFeb 5, 2009 @ 15:35
BAC now positive today after hitting all-time low this AM of $3.77.
Having worked for Merrill, may have bias.
Between Countrywide, Merrill, S&P Ratings, few new loans and rising long Treasury rates, writeoffs may wipe out earnings longer than most anticipated, burning up considerably higher cash and tangible book per share.
However, the combo of BAC, CW, MER has the largest financial services footprint of all and, despite rumours of nationalization, may be the financial force to reckon with. Note insiders bought all the way down from 82.875.
It is tempting to buy the BAC lottery ticket >3.77 or FAS>7.21 for a long trade here….
Comments on this entry are closed.
Edward,
Yes, I remember the movie….
Well put and nice analysis………who knows…between Russell and Will Smith ( Legend) it may all come true
Rick,
The info you provide about Dow Industrial Average choosing BAC one year ago, only to see a 90% drop in price, may seem like a minor point in this environment – but geez, that’s got to be an embarrassment to the Dow. Another reason for the world financial headquarters to be relocated to Singapore, Hong Kong and Dubai.
What will NY become? Maybe Kurt Russel’s 1981 film will come true: Escape From New York. Directed by John Carpenter. Carpenter may end up being the most prescient futurist that ever lived. Remember that one? ha ha ha Maybe NY will become a port of exit for US emigration. “Ellis Island, Gateway to the World. We send you our tired, our poor and hungry, to get them off our back.”
The banks will get nationalized that is for sure. I don’t know why the gov’ does not buy all the banks NOW, instead of doling out trillions to the “crook'” and “Rats” who got us into this debacle. They should all be shot….China style…go back till and get all the guys who took hundreds and billions as salary running these public companies…pay with blood.
The dow is going to 6,500-5,500 area and then 3,000 and eventually 1980 lows or highs…it will happen 2011/2013/2015???
The US banking system is broke, insolvent, the cities and states are broke the pensions funds…..they are no more…they lost all thier money investing in “Blue Chips” like Citi, BAC, Lehman etc……
When this party is done…people will not believe it…and Bush should then apologize to Chavez…because we will be worse than Venuzuela….like Zimbabwe.
Who says Fascism left with Mussolini…it was just disguised and here all along.
Money is in shorting and commodities I believe.
Macdonalds, IBM, anything that has not dropped drastically will after April 09 in my opinion.
Will MSFT get to $3??? I think it will by 2011 or before.
Then you will get the Amero as your new currency.
BAC now positive today after hitting all-time low this AM of $3.77.
Having worked for Merrill, may have bias.
Between Countrywide, Merrill, S&P Ratings, few new loans and rising long Treasury rates, writeoffs may wipe out earnings longer than most anticipated, burning up considerably higher cash and tangible book per share.
However, the combo of BAC, CW, MER has the largest financial services footprint of all and, despite rumours of nationalization, may be the financial force to reckon with. Note insiders bought all the way down from 82.875.
It is tempting to buy the BAC lottery ticket >3.77 or FAS>7.21 for a long trade here….