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Stock impact report

Bank of America has a stark message for investors buying the dip [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
Bank of America is warning investors not to read too much into that rebound. In his March 17 Global Fund Manager Survey note, BofA chief investment strategist Michael Hartnett said the bank's positioning metrics are "far from uber-bear levels seen at recent big lows/good entry points for stocks and credit," per CNBC . In other words, the kind of capitulation that has historically marked durable market bottoms has not happened yet. The survey is one of the most closely tracked sentiment gauges on Wall Street , covering hundreds of institutional investors each month. When its indicators align with prior market bottoms, the signal tends to matter. Right now, they do not. What the fund manager survey shows The March survey covered 210 institutional fund managers with $589 billion under management. The headline sentiment metric dropped sharply to 5.6 from 8.2 in February, a six-month low, as the Iran conflict and private credit concerns ended what Hartnett called the "frothy bull s Show less Read more
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