Bank of america reported poor earnings as expected. It is clear that the mortgage cost is affecting the bank. However, I think trading activities are picking up which will offset their mortgage unit. And also, the improvement in employment should help the housing market to recover from its double bottom.
I am still bullish on BAC.
I am also long AAPL on its iPAD 2 success. SNDK is also my top choice as it benefits from the iPAD and the tablet craze.
I am looking for cheap plays in the metal sector especially the laggards in the steel sector such as US steel X.
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