In after hours trading, Bank of America announced it was entering initial settlement talks with several mortgage investors who want BAC to repurchase some of the $47 billion improper mortgages sold to them. This has been an ongoing problem for the financial industry who have been beaten to a pulp by the media and government for unethical foreclosure processes. Now that this issue could be behind BAC, nothing is truly holding this stock down to its 52-week lows. Expect it to break resistance at $13 by years end? There’s only one thing I want for Christmas…
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