Bac to $12?

New York - Bank of America the largest U.S. bank, fell 1.15% to $12.87 in Friday trading on Wall Street. "It is like we are in a time warp." Remarked Andy “Raw” Kibbens star analyst and co-CEO of The Markets Are Open. He continued, "I have not seen BAC at such low prices since 2009, it is if we are in 2009 today." All of this has happened despite Fitch, one of the three major rating agencies on Wall Street, raising BAC preferred stock credit rating a step above junk status. Kibbens commentated, "this is great news, the better credit rating, the more secure an investment is, the higher the stock will usually go."

Raw continued to look for support in BAC's stock price "well I thought there was solid support at $13 it had looked like we had formed a base, but now we are under $13 what do I do now? Will it go back to $13 can it drop to $12; it is really in no mans territory." This stock drop has persisted after BAC reported Q1 numbers that disappointed as most of the profit could be attributed to one time gains.