It not over until it's over...and it is far, far from over. Revised upward earnings affected by approval of mark to market modification haven't been reported yet.
Shorts also still have "free" reign to short without any hampering from the new and improved revised uptick rule due later this month. It won't be the old easily skirted uptick rule, it's being revised for today's rapid electronic trading environment. I hope they get it right this time.
Lewis should have told CNBC that he was too busy for an interview today on the day Mark to Market change approval occurred. He distracted investors today. They interviewed him way to close to the easily manipulated premarket open time. Some hedge funds were probably looking for a huge outpaced early rise in order to short down from while the shorting is easier for them. Rules are changing and things are looking up. People who bought the top this AM are wrenching gut right now but the game is far form over for BAC. Institutions and others are accumulating from the clueless retail investors that can't hold through a 1 mile per hour breeze, it seems.
JMHO DYODD
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