Three years ago, Warren Buffett invested $5 billion in Goldman Sachs (GS). It took 9 days before GS dropped below his buy price for good - that is, until it hit bottom and eventually recovered. Until it bottomed, GS lost roughly 2/3 of its value from the Buffett top.
Will history repeat itself (or rhyme) with Bank of America (BAC)? If so, BAC will revisit the Buffett level on Wednesday, then fall all the way down to $3 before hitting bottom.
Or BAC could bounce and reassert an uptrend.
Or BAC could fall below this level, then bounce at $6.
Lots of what-ifs.