If yield spreads were gonna get wider, there would be plenty of confidence in bac breaking the 20 resistance mark. But we are living in a douche-bag world (cough-Putin-cough), where the world has decided to curb it economic growth to basically give him a bitch slap. So global rates are low, but Japan and Chins are still stimulating, and Europe is about to with their Public-Private infrastructure fund. And once Putin plays ball, oil will firm up.
In the mean time, major lawsuits have passed, and book value is within reach. Now, if the financial world doesn't blowup (it won't) after the greek elections on Wed, bac looks really good here.