In over their head! Bank of America puts in 2 billion, and the (CFC 21.82) trades above 26 in the afterhours. Just last week the stock was 15!! What happened to the Cassandras crying, and declaring sub-prime was the end of the world? Where are the shorts on Washington Mutual (WM 37.40)? They'll be toast also.
Another play will be Merrill Lynch (MER 76.44). I advertised this last week at 72; the Fed is cutting and why hasn't this stock moved? That answer is tomorrow. Look for that to go to 80. And Goldman Sachs (GS 177.89)? Remember the Goldman egregious opportunity fund? At the time of the investment, Wall Street was so scared, they didn't understand Goldman was stealing their money. Tomorrow they reward that stock, and the shorts get pummeled.
Once again, the bell was ringing, but it was tolling for the brave, and not the timid. Then the only brave were the shorts, piling on the stocks, blinded by greed. Tomorrow, the shorts won't only be timid, they are on the way to toast.
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