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Bank of America Is Key Wednesday

By Jim Cramer

 About this article:
 Bank of America's underwriting will be the crucial test. No, not of the print holding. The thing is enough in the hole that someone might want to own it. But of a return to the free fire-zone shorts, where a gang of shorts can break the print price of the deal (where the stock is priced on the secondary) and then cause a mass panic from all who bought it. This is the kesselschlacht strategy I have told you about, the battle of annihilation by the shorts of great American companies. I am sure, right now, there short-sellers buying the heck out of credit default swaps, placing big bets on Bank of America getting killed. Tomorrow they will buy all of the October 25, 22.5 and 20 puts they can legally buy, and then Thursday they will start the operation to push the stock down, en...

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