There is little doubt that the futures will be up big in pre-market, and that BAC will be the same. If you buy the open, you will be buying at a price where most of the gains for the day have already been discounted.
Short BAC just before the close. There is little doubt that the news tomorrow night will talk about the negatives of the Spanish deal. I highly doubt if there will be follow through in Tuesday's market. Stocks are a game of odds. The odds are that Tuesday will be a big down day.
I really don't think the market will open higher. The 300 points pop was priced in QE3 and a real Spanish deal. so far, no QE3, and all Spain said was "you can loan money to our banks if you want to buy more time, we ain't agreeing to any deal, we will wait after the Greece election on June 17th"
Spain will leave, and re establish their own currency and devalue them. Then Spain will be more competitive and be able to grow their way out of the depression in 3-5 years. If Spain take a bailout, they will be slave to Germany for the next 20 years. Spain isn't stupid. Their Banks can default after the $120 billion loans and file BK, but the country can't do that.