Seeking Alpha – Late in Tuesday’s market session I began to acquire shares of Bank of America. At the time I saw the risk/reward trade-off of owning the stock as benefiting long speculators and investors.
There is no doubt that pressure is being put on Bank of America by the hedge fund community through short selling (without the need of an uptick) coupled with put buying and credit default swaps. Rumors of large write-offs and the need to raise more capital sent the stock lower during a very bullish session.
