Why I am watching Bank Of America, and can’t wait for it to cross this little blue line right here so I can short the crap out of this POS short-sighted POF company!

by Mark Williams on February 26, 2009

POF: Piece of F***

Warning: Although the contents of this post are that of a rant, there is a trading lesson here that we will go more indepth on later

This chart is showing a temporary consolidation in the sell off of BAC stock. May they die a horrible, horrible stock death!

This chart is showing a temporary consolidation in the sell off of BAC stock. May they die a horrible, horrible stock death!

Dear Bank of America,

I hate you so much. I hate you, and everything that you represent. I hate the fact that you treat your customer like shits. I hate the fact that you rape me at your ATMs. I hate the fact that you place me on hold for so long when I call.

I hate you for the MASSIVE breeches in security that you have had over the years, exposing millions of people to ID theft.

I hate the fact that you are an incredibly BROKEN bank. I hate the fact that you should be dead right now, 100% pure cold, and lifeless…

I hate the fact that my elected officials placed your bleeding carcass on life support. I hate the fact that because of said stupidity of my elected officials, they are wasting more of MY tax dollars on YOU, when it would have been actually cheaper to let you FAIL and pay everyone who lost their jobs due to the whole economy in general 100% of their former salary per month via federal unemployment insurance for the next 5 years — AND STILL SAVE 700 BILLION!

But, your last transgression, and HOPEFULLY your final one, is what I REALLY hate you for.

Because, according to this MSN article HERE, you thought that it would be REALLY awesome to kick people while they are down by charging them a fee of $5-10 to deposit their UNEMPLOYMENT CHECKS into their accounts in your bank — you know, the ones that you would not have if we, the American taxpayer, had not (stupidly) bailed you out.

Do you not see the irony here: The bank that that is on FEDERAL WELFARE is gipping the person that is unfortunately on UNEMPLOYMENT out of EXTRA money that they would not even be able to collect if said worker’s taxes weren’t given to you.

It is a good thing that I am a very unemotional trader though. Because, as much as I LOATHE your bullshit establishment, I hate losing money even more.

Which is why, I am monitoring the rectangle consolidation pattern that you are currently making.

See, I have noticed that your trend is down, that you are in the banking sector (which is just chock FULL of weak companies like yourself), and fundamentally, although I am not a fundamental trader, in your case I had to look up your numbers because my hate for you is so totally and completely beyond , you are 100% broke.

But to me, this rectangle that you are making has me very, very intrigued…

And since the market will actually move one to two days prior to either your bankruptcy (YAY), or your nationalization (BOO), because of legal and illegal insider trading, when my technical signal is hit, and you drop like hotcakes, I am going to make money off your carcass either way…


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{ 7 comments… read them below or add one }

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