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On November 30, a rumor said that a Wikileak cable was going to report negative news for Bank of America. But right after that the Wikileak founder Julian Assange was arrested. The funny thing is that BAC, along with all other big bank stocks, have rallied higher 15~20% (way outperformed overall markets) without any major news since then. So my guess is that either big banks were relieved that those bad news will stay undisclosed since Mr. Assange was arrested or they simply needed to pump stocks higher before taking major hits when their dirty laundry gets to the public.  |
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