BAC Bank of America Corp - Stocks and ETFs Trading | futures io social day trading
futures io futures trading


BAC Bank of America Corp
Updated: Views / Replies:13,502 / 102
Created: by Big Mike Attachments:17

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 17  
 
Thread Tools Search this Thread
 

BAC Bank of America Corp

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received

BAC Bank of America Corp



Recent weeks had made you wonder if BAC would be doomed to fail soon, as their CDS were reaching 2008/2009 levels.

Now today we see that Buffett has invested $5 billion into Bank of America, so he for one thinks they are a stable and sound investment.

Bank of America rallies on Buffett investment - MarketWatch

BAC stock is up 17% on the news.


Quoting 
“Bank of America is a strong, well-led company, and I called [CEO Brian Moynihan] to tell him I wanted to invest in it,” said Buffett, chairman and CEO of Berkshire Hathaway Inc. BRK.A -0.34% BRK.B -0.40% in a statement. “I am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them.

“Bank of America is focused on their customers and on serving them well,” he added. “That’s what customers want, and that’s the company’s strategy.”

Terms call for Bank of America to sell 50,000 shares of cumulative perpetual preferred Stock with a liquidation value of $100,000 a share to Berkshire Hathaway in a private offering.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received


Looks like this got a nice pop but has sold off since the open. Keep an eye on this as this news could turn out to be a game-changer, or not. I would personally stay on the sidelines until there's a break above the highs from earlier today.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
Reply With Quote
 
  #4 (permalink)
Trading Apprentice
Chicago, Illinois, USA
 
Futures Experience: Advanced
Platform: NinjaTrader, IQBroker
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
Retro's Avatar
 
Posts: 20 since Oct 2011
Thanks: 0 given, 3 received

Just entered BAC a few days ago

BAC is wildly oversold and so is the rest of the market. BAC will rebound up to 20% in the next several months, before we start dropping again. The macro economics spell doom for the worlds economy but that will take a year to two to unfold, right now we are heading towards a rebound. (Just my 2 cents).

Reply With Quote
The following user says Thank You to Retro for this post:
 
  #5 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
 
Private Banker's Avatar
 
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,759 received

BAC just made about the dirtiest move it could by putting depositor money as a back stop for some of their (BAC's) worst derivatives. The general idea here is once these derivatives blow up, BAC depositors will be at risk of losing their money which will surely create another TARP-like bailout as BAC has now co-mingled their toxic trash with FDIC insured deposits on the same balance sheet. This is a sure sign that BAC is about to go under and has now made a move of desperation.

Yves Smith has an excellent post on this situation that was first discovered/reported by Bloomberg: Bank of America Deathwatch: Moves Risky Derivatives from Holding Company to Taxpayer-Backstopped Depositors naked capitalism

Reply With Quote
The following 3 users say Thank You to Private Banker for this post:
 
  #6 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received


Private Banker View Post
BAC just made about the dirtiest move it could by putting depositor money as a back stop for some of their (BAC's) worst derivatives. The general idea here is once these derivatives blow up, BAC depositors will be at risk of losing their money which will surely create another TARP-like bailout as BAC has now co-mingled their toxic trash with FDIC insured deposits on the same balance sheet. This is a sure sign that BAC is about to go under and has now made a move of desperation.

Yves Smith has an excellent post on this situation that was first discovered/reported by Bloomberg: Bank of America Deathwatch: Moves Risky Derivatives from Holding Company to Taxpayer-Backstopped Depositors naked capitalism


I'm so ticked off I can't think straight but I will go postal if these pricks get bailed out again. I don't know how the FDIC works exactly but if the bank fails I would hope the pepole that have accounts just have a check sent straight to them and not go through the bank (in essence refunding/bailing out). That's the way it SHOULD work, the bank fcked up so let them die....give the money directly to the insured depositors and they can try some other bank.

Reply With Quote
The following 3 users say Thank You to kbit for this post:
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received

I'm just wondering how that is even legal...

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #8 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


Big Mike View Post
I'm just wondering how that is even legal...

Mike

I was thinking the same thing...

Reply With Quote
 
  #9 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
 
Private Banker's Avatar
 
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,759 received


Big Mike View Post
I'm just wondering how that is even legal...

Mike

Yeah, me too. I just think the TBTF's will do anything they want and apologize later at this point. I'm sure other TBTF's are or will do the same now that BAC has done so. They are essentially using their customers as hostages. This should be an incriminating offense and the top executives should be thrown in jail. The banks were once there to serve their clients/customers and help them for whatever they need. They've now morphed into giant zombies that have one of the most powerful lobbyist groups in the country and feed on their customers while having to take on more and more risk to keep their revenues growing while conducting all sorts of financial/accounting trickery to make it look like they're still in good shape. By reading through the TBTF's recent earnings, it's all too obvious what's taking place.

BofA has been a stagnant company for years. That is one reason why Ken Lewis went on the buying spree in an effort to grow their future revenues. They didn't take into consideration the baggage that came along with these acquired companies. I personally think the company has been abandoned case in point their current CEO. Bryan Moynihan hasn't a clue on how to run a company. He's been Ken Lewis' lap dog for years and years bouncing around to different lines of business within the bank and messing each and every one of them up royally. When I saw that they made him CEO, I knew something was up there.

Any way, it will be interesting to see if this hits the mainstream. This could cause a huge run on the bank IMO...

Reply With Quote
The following 4 users say Thank You to Private Banker for this post:
 
  #10 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received


I'm trying to understand what this would look like. If the bank continues to lose money on these derivatives, and then we see a collapse of BAC, what are we looking at here? FDIC? But isn't it more complicated, specifically for accounts >250k, because the argument would be the assets were safe up until the moment the bank chose to apply them to derivatives...

Still trying to understand the implications.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:

Reply



futures io > > > > BAC Bank of America Corp

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Bank Of America Scrambles To Shore Up Capital kbit News and Current Events 0 August 10th, 2011 09:01 PM
Bank of America's back-door TARP kbit News and Current Events 0 August 10th, 2011 08:29 PM
Bank of America stock plunges 20% kbit News and Current Events 1 August 8th, 2011 08:33 PM
Bank of America settlement faces challenge kbit News and Current Events 0 July 5th, 2011 08:38 PM
Victims in Bank of America screw up threaten to foreclose on bank assets RM99 Off-Topic 4 June 6th, 2011 09:54 PM


All times are GMT -4. The time now is 09:16 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.15 seconds with 20 queries on phoenix via your IP 54.83.122.227