Bank of America (BAC) from a technical standpoint is ready to run…..short-term this should see the mid teens and by end of year…if not sooner, we should see 20s. Why am I convinced?…housing will bottom soon based on improving anecdotal data from the biggest problem markets such as Cali and Florida.

One can argue about Green Sprouts and other gardenesque jargon, but simply put.. this has been a major dog of the dow and has not moved like its bank brethren because of the massive certificate printing operation it embarked on to meet the stress test quota ($33.9B). Now that the presses have stopped, we can gain some upward traction. 

I just think the estimates are way too low. Reverend Cramer has backed up the truck on this one and jumped on his soapbox shouting “BUY, BUY, BUY”. It closed at $12.97 today, do your own DD.

We should see some traction as the July 17 earnings approach!



Long BAC

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