Timid Rally Brings No Joy to Mudville

To the contrary, even the fraud-based resurgence of the banking sector has come a cropper, with the chart of Bank of America’s shares, for one, looking like the company is headed for bankruptcy (see above).  Hidden Pivot analysis implies that the stock could fall to as low as minus $17. That’s impossible, of course, but we learned during the Great Financial Crisis of 2008-09 that such numbers do have meaning. For in fact, we came up with similarly negative numbers for Bear Stearns (!) and Lehman Brothers (!)  when we sent out an alert to subscribers just before the banking sector went into its nearly fatal dive back then. Even our best-case forecast for B of A is nothing to cheer about. We see the stock falling to at least $1.37 (and you heard it here first). If you want to learn how to do your own forecasting and to be far better at it than many gurus who do it for a living, consider taking the upcoming Hidden Pivot Webinar in late June.