I have been looking at the same thing and I am kicking myself for not buying in the $18's. All the headlines were doom and gloom and I was concerned about seeing it dip to $15 or worse.
I have been looking at the banks that reported over the last few days and I think the trends are very good. No one is hitting the worst case numbers and everyone seems to have done transactions to shore up capital without doing additional stock issuance to dilute shareholders. Wells Fargo even increased their dividend.
I think the BAC dividend will not be cut for Q2 and the results will look ok. Still a huge decline from last year but not the rock bottom end of the world scenario that some analyst have scared the world with. So, if the dividend is not cut and the probability that they can retain the dividend increases, I see BAC heading back toward $30.
I am thinking of dipping in at the current prices and then making the decision on the rest of my investment after the ER next week.
I think you should put your house, your wife, your dog, and your cat...hummm maybe your cars and boat on it. No wait, I forgot something, take the shirt off of your back and put that on it too. After all "Operation Stocks Always Go Up" is now underway thanks to the govt. and the Goldman twins..Bernanke and that other fool. Funny how BAC had to be protected from something that was already illegal? Makes you wonder who got the reversal signal before that thing came out the other day. It couldn't be Goldman Sacks now could it? Nhaa, couldn't be them. J.
If the move in BAC is due to the SEC annoucement to enforce rules prohibiting NAKED SHORTING it only proves that those naked shorts were responsible for the previous decline in the stock price. Obvious stock MANIPULATION by the short sellers. This is not a rule violation it is a CRIMINAL offense and all crooks who participated should be prosecuted. If not they will destroy the stock market.