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BAC is a poster child for 10 year charts. I put a small amount in BAC for the dividend in 2007 (thanks, M*, who appeared to recommend it, then a few months later posted an article defending the suspension of the dividend), but a friend of mine moved $200K from T to BAC to "diversify", since her broker (now, there's a fortuitous noun) told her she was too "concentrated" in stocks her father (who worked for SW bell) left her. She only told me after she had done it, and I'd have probably suggested not doing it, or using Wells Fargo (also not the best idea), but I didn't tell her to reverse the trade. I sold in the teens; she's sold some for tax losses and hopes she lives long enough to break even, unlikely, since she's in her 70's. Obviously, not the stock for widows and orphans, although buying and holding T 30 yr ago worked out well. Fortunately, she still has a fair amount of Ma Bell's progeny.
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http://www.marketwatch.com/story/catalysts-leading-major-financials-back-to-52-week-and-multi-year-highs-2013-02-12