Good luck to Doug. I do not doubt it can happen, but I will wait for $4 on BAC; if that happens the sector should be ripe for picking.
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he can have it…….all of it. one cannot pay to much attention to some of these people. they know nothing. and to come up with a buy. lmao
@drummerboy,
based on current scenarios he may be right…the problem is will those scenarios change in the short term.
Generally, I have a hard time buying companies that are technically insolvent.But buying at tangible book value is worth the risk to me….
@ cronkite…..yes sir,after playing C from 40 down to 5,via puts.i thought the same as you did. so in 09 i did a leap on C at the 5 strike. you can figure out the rest bro.C was supposed to do the reverse split by june 2010. and i thought the value of the risk would be worth it too. i expect absolutely nothing from banks. the only way that i would get bullish on banks,will be the day that bac goes under,and after yesterdays’ 2 million contracts for the 4 strike on puts in bac,i may get what i wish for……….
@ cronk. i apologize,i didnt mention that the leap i bought in 09 was for 2011 still at the 5 strike