This is what I am trying to say, that the market has become to controlled toward certain people and companies. Now I understand that the Governement had to step into the system a few years ago to restore confidence, thats why I love it when some argue against a strong government, but you also lose something along the way.
I can understand the governement stepping in, but then the free market people argue that you cannot restrict these same companies, and thats where I have a problem. Its okay to help the banks, but the homeowners get screwed, I also know that things are suppose to be open, but it just seems that certain insiders really have an advantage nowadays.
This news being sold off quickly, again who wants to get in front of Bernanke.
Also Buffett bought Preferred Shares, and to me it has nothing to do with the common, they could still issue more shares, or that these shares could just not participate on the upside once this news dies down.
Buffett is smart, he will probably get a nice dividend and sell his preferred shares next year when BAC problems are maybe more under control, but for right now this news is stopping the slide on BAC, and allows Bernanke to focus on the bigger problems that exist in the economy, sure is interesting market.
In the meantime I am going to go back and sit this market out, I had that AUY quickie trade, and the AAPL trade this week, two for two, so why push it, it pays to watch from the sidelines and come in when something presents itself.
