Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Bank of America
So what: Adding to the refutation of Blodget, the analysts in question -- Meredith Whitney and Raymond James staffer Anthony Polini -- actually work in the banking industry. That's as contrasted to Blodget, who previously practiced porcine cosmetology, and the pumping and dumping of tech stocks.
Now what: Which analyst should you listen to? Hard to say. I personally don't put total faith in any of them. But with B of A stock currently selling for a bare 0.3 times book value, and less than 5 times next year's earnings estimates, my hunch is that the facts favor B of A and its backers in this battle. The stock looks cheap to me.
Bears versus bulls -- who will carry the day? Add Bank of America to your watchlist and find out.