1. On Feb 26th, bac issues its 10K. Analysts chose to focus on highlighted risks do to reg changes spelled out in its general risk section. Catalyst was a UBS analyst, and the imitators and idiots that followed blindly.
2. BAC sees a 2 day 5-8% decline.
3. BAC passes test.
4. Jobs number way better than expected and unemployment at 2008 lows.
5. BAC recovers.
Future: with stronger jobs and r.o.w economic stimulus, economic trends favor BAC. BAC should be trading between mid 17 to low 20s!