Bank Of America Hits Paydirt For Now

Once again, it goes to show you how the market always knows the truth. Bank Of America Corp.

gets Warren Buffet as an investor this morning. This investment that was made public around 9:10 am EST, it is causing a massive short squeeze in the Bank of America stock. BAC stock is trading higher by more than $1.50 to $8.55 a share. Traders can watch for other financial stocks to trade higher in sympathy to the BAC stock. Other leading stocks that could trade higher this morning include J.P. Morgan Chase & Co.

, Morgan Stanley

, and Citigroup Inc.

. Traders and investors can expect a short term bounce from this news. It is important to remember that Warren Buffet invested in Goldman Sachs Group Inc.

in 2008 when the stock was $125.00 a share. Goldman Sachs stock traded as low as $47.00 a share and only survived because of a government bailout. It is safe to say that the U.S. government will be back stopping this deal for their most beloved billionaire. Nicholas Santiago InTheMoneyStocks.com