Bank of America Continues To Drop (BAC)

Bank of America BAC seems to be broken. Even on a day with no real firm-specific news and a strong overall market, shares are down more than 2.5% on heavy volume. Bank of America's mortgage problems are well-known by this point, but the market hates uncertainty. With Bank of America staring down a long legal fight with the New York Fed about repurchasing mortgages, this uncertainty may linger for quite some time. It is likely that Bank of America will rebound from this crisis over time, but in the short-run shares may continue to be pressured. For long-term investors willing to stomach some risk, now may be the time to buy some BofA shares. The stock is down over 16% in the last month.