Monday, December 1, 2008

Hello, I Need your Tax Dollars

Full disclosure - I'd be short Bank of America (BAC) here, with stop loss over that 20 day moving average (aka north of $16.50s or so) - I'd use a 4% stake or so.

I'd be short until the US government uses my own money [Nov 24: Details on Citigroup Bailout] to blast myself out of my position, using my own taxes to cause egregious losses to myself when they bailout BAC. That's how socialism works. (Or, I'd stick around with a target of $7-$10 if that comes before the government uses my own money against me.)

Hi, my name is Bank of America - aka Citigroup 2.0 [Nov 26: After Citigroup is Bank of America Next?] Now who wants some of these yummy Countrywide loans? Anyone? Will someone else other than Uncle Hank raise their hand? Please... anyone but Hank... please.

In the interim I have to use Ultrashort Financials (SKF) as our proxy

Long Ultrashort Financial in fund and personal account

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