Put BAC on your Watchlist

 From 2007-2009 BAC fell more then 90%. Notice even during the melt up of QE2 in 2010 and early 2011, BAC couldn't get off its back. Throw in the fact they are trying to raise capital, Warren Buffet threw $5 billion there way a day after speaking to Obama about "advice on the economy", the 50 biggest hedge funds hold BAC and still can't support price, recent price action including today's failure to participate and what we may be looking at is a sub $5.00 nightmare in the form of a TBTF doing exactly that.

 Here's October support at $5.13 being taken out, volume isn't all that high on the break considering.

 Here's the intraday break and note that while the market is at least close to neutral, BAC is down significantly.

 The hourly chart is in line with the downtrend.

As is the 30 min.

I'd like to see a bounce and a good 3C signal, absent that, I would have alerts set to a break of $5.00 where stops should be piled up. If those hedge funds end up having to sell BAC on a break of $5.00, BA is going to be in a world of trouble, far worse then what they are already in. Make sure BAC is on your watchlist.