headlines and uncertainty give opportunities.... look at BP... if ruining the Gulf Coast for 3 months and cutting dividend ,BK in air every minute in Media ,,, Karen Finerman bought despite many laughing , mocking her,,, that stock got killed and they basically destroyed a whole section of US economy ,tell me where the stock closed fridayPM after what time lenghth since ..they capped that well 1 1/2 months unless day trading for nickels and dimes wake up BAC is trading at basic book value now....
No double, institution selling dominated the sharp drop of BAC stock, a nearly 10% down per week demonstrated this. Mounting concerns will keep pressuring the stock, from TA point of view, BAC may likely test $11 before a meaningful bottoming, of course, the coming financial stock earnings (C, BAC, WFC) will impact the process.
In short term, if you don’t want to suffer the pain from financial shares, just stay sideline or pick up some upward stocks (plenty of them, e.g. tech stocks).
In a long run, there’ll be a recover, a matter of time, all depending on your investment goal and strategy.