doesn't change anything. BAC could go bankrupt overnight like Lehman did. Everyone knows, the books are cooked thanks to m2m accounting changes. Banks are still black-boxes!!!! No serious investors, who loves his family and doesn't want to risk to be ruined hold BAC!
There's no real recovery. Home prices are still down 30 percent nationwide since they peaked during the housing bubble in mid-2006. Some say, housing stabilized, but I believe it will get worse this year, again.
I'll have the last laugh when I am ready to sell. What is happenning in the market now is why I, a corporate bond holder, will never put another penny in this market. I do have BAC stock, a 3% part of my total investments, and will wait until it reaches $50 next year. The lower you drive ithis stock the more I get in my reinvestment of BAC. Next quarter when the dividend goes to 5 cents a share, I will be getting 5 times what I am getting now and those shares will be unavailable during the upcoming short squeeze.next quarter. If you get the stock down to $3 a share, I will be getting 20 times what I'm getting now. Good look in driving it down to those numbers. Looking forward to it.