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An Update on Bank Stocks: Bank of America and Citigroup
MINYANVILLE ORIGINAL This morning Bank of America (NYSE:BAC) broke out to a yearly high  of $10.22. My firm alerted Minyanville readers back on August 23 to buy this name as it went to a Strong Buy. Bank of America has been the strongest money center bank based on our proprietary indicator and it is the only bank rated a Strong Buy (5). We can hypothesize that money is flowing into BAC as housing related stocks and housing derivatives like Home Depot (NYSE:HD) are becoming extended and richly valued.  In other banking news this morning Citigroup (NYSE:C) announced that it ...
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