Click a Kitty Thank you, JoeProBono
Sweet Young Dragon Adopts Some Orphans
Lend a helping hand
Donate monthly
Sponsors will contribute $10
For each new monthly sign-up
Posted on 02/10/2012 10:53:20 AM PST by SeekAndFind
NEW YORK (AP) — On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear.
It's Bank of America — bailed out by the government three years ago, reviled for being part of the mortgage frenzy that helped wreck the economy and selling for not much more than an ATM fee.
When the market goes up because of positive news about the economy, Bank of America stock shoots up past the stocks of other big banks. When traders get worried about Greek debt, Bank of America takes the biggest plunge.
The big swings are not driven by a fundamental bet that the bank will be more profitable because the economy is getting better or a real concern that it will lose more money than others if there is a default in Greece.
Instead, Bank of America is the stock of the moment for high-frequency trading, the supercomputer-driven buying and selling that barely existed a few years ago and now accounts for as much as two-thirds of U.S. trading.
(Excerpt) Read more at businessinsider.com ...
Banks trading against banks at warp-speed!!!......(churning each other)...with the help of the secret PPT keeping the market artificially high with futures....
as my broker told me.......NOBODY is trading stocks retail!!!...worst hes seen it in 40 yrs!
Exactly!...When the market finally drops ...it will be over in a matter of minutes.
Volume is at historic lows, and very few understand then role of PPT and TWIST in driving prices, and by extension, HEADLINES, to make Obama look good.
There is so much financial fraud going on, right now, to keep Obama’s Econ numbers from falling, that it’s mind-boggling.
Local Indianapolis Dealers are actually advertising that GMAC/ALLY is buying 450 score credit criminals, on new cars ONLY, to boost GM’s sales numbers, which are tied directly to obama.
Literally BILLIONS of your tax dollars being thrown away daily, to buy a few good lines of press for obama.
Is that the Buffett that says "the rich should pay more"????
LOL
As in ALL THINGS, follow the money.
He's been bailed out, catered to, used as a tool in "Buffett's Rule", and makes money on all of it.
WE, the Taxpayer, are forced to enrich this asshole, and somehow WE aren't "fair" or "concerned about the Middle Class".
I believe the average time a stock is held for....
..wait for it....
28 SECONDS!!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.