Usually BAC follows either the overall market or the banking sector. Recently it has been blazing a trail of its own.
Investors have turned their backs on BAC because of Moynihan's leadership, or lack thereof. Yhe time to buy BAC is when you hear the announcement that Moyunihan has stepped down.
Analysts are going to crush this pig
The banking industry is no doubt one of the few which has not recovered. And we keep hearing that the bank that has the best opportunity to appreciate once the infustry does recover is BAC. So I guess you could call BAC the prettiest firl at the ugly girl contest.
The big institutionl holders such as CalPERS and CalSTRS dropped the request when BAC agreed to allow big holders to nominate people for the board.
Could be either, time will tell.
One small gift is that BAC is declining today in proportion to the overall market decline, and not contrary to the rest of the market.
Doesn't look good
As I said I only put wingnuts and wackos on ignore. If it is relevant, timely, and well reasoned political comment I do not ignore those. As I have not ignored you.
LOL I can see that two people responded to my post who are on my ignore list.
I use the KBE for comparison too. And BAC is also performing much better than the KBE.