Bank of America Corp.(NYSE:BAC) is one of the weakest financial stocks when it comes to the large major banks. This stock made a new 52 week low today and remains very weak on the charts. Once the robo-signing scandal emerged it is now telling the public how much toxic asset are really being held by the large major banks. BAC will have short term intra-day support around the $11.20 level.
The other leading financial stock that are trading sharply lower are J.P. Morgan Chase & Co.(NYSE:JPM), Wells Fargo & Co.(NYSEWFC), and Citigroup Inc.(NYSE:C). All of these institutions seem to be trading in tandem with each other and face similar problems.
