Sunday, December 5, 2010

So...I will eat a little crow on BoA, but I still think the time is coming. Wikileaks has yet to drop it on the financial sector, so I would be hesitate...

"This week, bulls rushed back into the stock market, with a particular focus on cheap bank stocks. The reasoning: Treasury yields are too depressed, sovereign bonds are too scary and battered financial stocks represent something of a middle ground in the risk-reward spectrum. Even Bank of America(BAC_), which hit a new 52-week low of $10.91 on Tuesday over speculation about a Wikileaks scandal, was up nearly 9% from there by Friday's close."

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