Of course you know Wall Strret already knew appeal was coming
I was surprised to see this fall so much last week\. most of it's peers went up which have enjoyed big pops when MBIA went up recently. For he stocks actions and lack of news did not seem to make sense, but you get lawyers involved, printers, analysts and firms get tips pass it on to large clients and so forth and the word is out there for the large firms to trade on. May open down a bit on the news Monday but then watch it go up since the news has already been traded. This is the way it works on the street. Also duh BAC files an appeal, they appeal everything, it's part of their strategy to try and wear out and drain opponents. Not real ethical IMHO or real news but that's the way it works. So watch for slight dip at open and then a small rally to close very green. People will say this does not seem to make much sense. Of course it makes sense when you have already traded this on illegal inside information last week and need to either cover of buy back positions sold.