The White House denies the rumor of a massive mortgage refinancing plan, letting the air out of...


The White House denies the rumor of a massive mortgage refinancing plan, letting the air out of Bank of America (BAC +8.6%) shares, -2.2% AH. The chatter had sparked BofA to the top of the S&P leader board and seemed to pull the rest of the market out of the doldrums. It was the fifth straight up day for BofA shares, something that never happened in 2011. (also)
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Comments (8)
  • nuriel_jackson
    , contributor
    Comments (29) | Send Message
     
    what part of today's gains are due to the rumor? Surely not 100%? 75%? 50%?
    5 Jan 2012, 05:23 PM Reply Like
  • tripleblack
    , contributor
    Comments (13581) | Send Message
     
    After the reaction tomorrow? 200%.
    5 Jan 2012, 08:04 PM Reply Like
  • nuriel_jackson
    , contributor
    Comments (29) | Send Message
     
    So about $5.31 for the 200% prediction? I'll pick up some more if so. :)
    5 Jan 2012, 08:47 PM Reply Like
  • tripleblack
    , contributor
    Comments (13581) | Send Message
     
    Not recommending that, but you may well get your chance. Good luck, I hope you make money if you go that way.
    5 Jan 2012, 08:59 PM Reply Like
  • withnmeans
    , contributor
    Comments (11) | Send Message
     
    200% That's the way the fraudsters work it on Wall Street.
    5 Jan 2012, 10:07 PM Reply Like
  • nuriel_jackson
    , contributor
    Comments (29) | Send Message
     
    Hmm. The thinking seems reasonable to me that it should drop. Therefore short it (though I've never done this before, I'm just a small timer). But of course, I'll get beat to it as traders will be able to get in and out much faster.

     

    ... right?
    5 Jan 2012, 10:18 PM Reply Like
  • Windsun33
    , contributor
    Comments (4431) | Send Message
     
    I sold out all my (BAC) about 5 minutes before the close at $6.33. I figured this was just another rumor, so decided to take a small profit while I could. It may not hit that high again for quite some time, but even if it does - I never heard of anyone going broke taking profits.
    6 Jan 2012, 12:54 AM Reply Like
  • bbro
    , contributor
    Comments (11216) | Send Message
     
    Please lets have some more of Keith Horowitz's analysis as opposed
    to the armchair quarterbacking....
    6 Jan 2012, 02:47 AM Reply Like
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