in4thelonghaul

Earnings Preview: Bank of America

The nice thing about the recent runup in sh/pr...even if BAC misses, there is now a solid floor. It would take a pretty big miss, combined with poor guidance, to even result in BAC retracing to $22.00 let alone breaking $20.00. With the shorts apparently muzzled, at least to a degree (since the OMM retains their dirty exemption and can thus print airshares at will), BAC will not see the unimpeded stampede to the downside which was a real likely prospect upon an earnings disappointment hitherto.

GL to all longs...