Showing posts with label Bank of America. Show all posts
Showing posts with label Bank of America. Show all posts

Wednesday, September 26, 2012

BofA Makes The Case For $3,000 Gold

Now that the big institutional investment firms are declaring a secular bull market in gold (better to be 11 years late than never), where were they in late 2008 when gold plunged below $700, post-Lehman flush?

Normally, if the consensus leans one way, I would tend to lean to the other, as conventional wisdom in markets is almost always wrong.  The article's tone is bullish for gold, so as a contrarian, one would consider exiting.  However, the first sentence is wrong in one key detail with this declaration:

"Everyone loves gold these days."

While more people may be AWARE of the inflation-hedging capabilities of gold, very few people "love" gold, and even fewer people actually OWN it.

http://www.businessinsider.com/bofa-makes-the-secular-bull-case-for-3000-gold-2012-9#ixzz27avvUb6o

See disclaimers in the side bar.  Perform your own due diligence.

Saturday, September 8, 2012

Bank of America says gold could hit $2,000/oz by year end

B of A is joining the gold bullish camp, although with a target of $2,000, it appears conservative.  Wait for the targets on the next blog entry.

http://www.mineweb.com/mineweb/view/mineweb/en/page103855?oid=158302&sn=Detail&pid=110649

Tuesday, October 4, 2011

Bank Of America Site Down For Third Day In A Row

Does anybody find this slightly disturbing, especially in light of the fact that Bank of America shares are correspondingly tanking to the $5 handle?

http://www.zerohedge.com/news/bank-america-site-down-third-day-row

Friday, September 30, 2011

Will Start Of Landesbank Mortgage Litigation Against Bank Of America Push Stock To New 52 Week Lows?

Given the recent bad news, it would not surprise me if Morgan Stanley (exposure to French banks who have Greek exposure, and Chinese exposure) and Bank of America (exposure to residential mortgage-backed securities lawsuits) go the way of Bear Stearns or Lehman.  Their credit default swaps are proactively signalling all is not well. 

http://www.zerohedge.com/news/will-start-landesbank-mortgage-litigation-against-bank-america-push-stock-new-52-week-lows

Saturday, September 10, 2011

BAC Triggers Avalanche Of $7.00 Stop Loss Sell Orders

Warren Buffett injected $5 billion into Bank of America recently in an attempt to catch a falling knife.  I warned then that blindly following the Oracle of Omaha could be a mistake, in light of all the troubles BAC is having on the mortgage front and lawsuits against the embattled bank. 

http://www.zerohedge.com/news/bac-triggers-avalanche-700-stop-loss-sell-orders

Friday, September 2, 2011

Bank Of America Sued For $31 Billion In Mortgage Losses

Warren Buffett is showing again he is not infallible after all.  The Oracle of Omaha just injected Bank of America with $5 billion last week.  Today, the government just sued BAC for $31 billion in mortgage losses. 

http://www.zerohedge.com/news/two-down-many-more-go

Monday, July 18, 2011

Dick Bove's Hist(o/e)rical Bank of America Price Targets

Dick Bove, "expert" banking analyst should just hang it up.  He's destroyed enough portfolios with his bullish calls on bankrupt banks. 

http://www.zerohedge.com/article/afternoon-humor-dick-boves-histoerical-bank-america-price-targets

Wednesday, April 20, 2011

Military choppers startle downtown Miami


http://www.miamiherald.com/2011/04/19/2176185/military-style-helicopters-over.html
Residents in the neighborhood saw and heard several military-style, “pitch-black” helicopters flying around and hovering on top of Brickell buildings Tuesday night and early Wednesday morning.

Turns out that it was a training exercize by Miami-Dade police’s SE Regional Domestic Security Task Force. In other words, a Homeland Security operation, that few other authorities apparently knew about, including the U.S. Coast Guard.

A Miami police spokesman said the helicopters were conducting an “operational” training drill. He was not allowed to comment on details of the drill.

On Tuesday, Miami police officers in Brickell said that it was all part of a planned Homeland Security exercise, but confusion about the helicopters was rampant about 6 a.m. Wednesday.  "Three choppers just dropped a group of men on top of the Bank of America building in Brickell," tweeted a man identified as Ianik Drouin, about 9:45 p.m.

Monday, January 3, 2011

The Scramble By Bank Of America To Negate Wikileaks Upcoming "Ecosystem Of Corruption" Disclosure

http://www.zerohedge.com/article/scramble-bank-america-negate-wikileaks-upcoming-ecosystem-corruption-disclosure
Last month, the bank bought up Web addresses that could prove embarrassing to the company or its top executives in the event of a large-scale public assault, but a spokesman for the bank said the move was unrelated to any possible leak.