"They" being the bankrupt banks of america, have decided
to include 'valued' high value discount customers like me in
this IPO.
"They" have also moved it up a day for my convenience (and
to avoid an options expiry so heavy wieghted in puts that it
may capsize the system) and because the banks selling this
'gem' need the money and fast. "They" are willing to take
CDN $$, lol.
I will pass. I will also short the IPO given the overall market
turmoil expected. The price has been kept high even though
the issue date is moved up. This rings a bell at the top of
the bank market for now too.
As per my borker "This is the best op since Blackstone (BX:
should have been symbol BS, down by 80% since highly
touted IPO which even the chinamen bought into) and
MasterCard (also down similar amount).
As for "long term investors", i.e., sheep about to be fleeced,
i expect this will be later known as a multi year top for banks
going out ten years or more. Why ??? Dollar weakness, a
collapse in residential and commercial realty.
And new legislation that will 'prevent' sneaky assed bankers
from ripping off the unsuspecting public.
