ALERT: BAC is now **EARMARKED** for **DISPOSAL** >>>>
I have personally assured this stock will absolutely **NOT** go down, because I bought some put options. Since I absolutely SUCK at stock picking and my options almost always expire worthless (OK truth be told I usually sell covered calls and therefore options expiring worthless is a good thing). STILL!
By buying put options on BAC I have personally assured all BAC longs that they are safe for a while from any real drop in the stock price. You can buy me drinks at the bar to say thank you while I lose my option premium.
This is why you see unprecedented pumping of the markets by wall st pros because they know retail sales are going to go negative in January after the holiday bills heating bills tax bills gas bills came in early January all shoping for non essentials has essentialy ceased outside of nyc and washington
First in case you missed this last weeks 435,000 first time unemployment claims were SEASONALLY ADJUSTED this is direct from BLS you can goofle first time claims to and to the BLS web site main page paragraph 2 it there were ACTUALLY 770,406 UNADJUSTED first time claims IN 1 WEEK > 3/4 of a millon PEOPLE were layed off and applied for unemplomen
The advance number of actual initial claims under state programs, unadjusted, totaled 770,413 in the week ending Jan. 8, an increase of 191,686 from the previous week. There were 815,593 initial claims in the comparable week in 2010.
The advance unadjusted insured unemployment rate was 3.8 percent during the week ending Jan. 1, an increase of 0.3 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 4,766,951, an increase of 351,439 from the preceding week. A year earlier, the rate was 4.6 percent and the volume was 6,013,891.
The total number of people claiming benefits in all programs for the week ending Dec. 25 was 9,193,838."
NOW judging from my anecdotal research below the retail sector is in real trouble see below !!
TARGET: I went to Target in tax free Nashua NH on Sat and they had 3 of 20 registers upstairs open and no waiting and I looked and saw only grocery items like detergent, personal care items etc Downstairs 3 registers of 16 same thing...
KOHLS: I then went to Kohls in tax free Salem NH and found the parking lot pretty full which kind of threw me until I went inside. A HUGE, HUGE LINE at the **RETURNS** LINE IN the back of the store.. again only 3 registers open out of about 12 and the RETURN LINE number of people FAR EXCEEDED THOSE BUYING ANYTHING ! They pumped the retail sales over CHristmas wait till you see the numbers in January....
Beware peole this market is hugely overpriced Disclosure I am not short Target or Kohls but I think that downside risk is much higher than upside
welcome any other comments from other areas of the country I am thinking the only place where business is good is around wall st ... booya wait till you see bac 13 for sure this week watch and see