Yeah, But Will I Be Accused of Insider Trading?

Bank of America’s chief investment officer, Richard Bernstein, is proclaiming that if you own bank stocks, you should sell them, now, to take profits from the little rally the stock market has been experiencing, before it drops again, because the bailout is not going to stop the banks from bleeding again.

Investors should sell bank stocks after they rallied 12 percent today because the Treasury Department’s plan to buy toxic assets won’t stop profits from dropping, Bank of America Corp.’s Richard Bernstein said.

So, if you own Bank of America stock, and you quickly sell it, now, based on Berstein’s pronouncement, will you be accused of insider trading?

Bank of America’s Bernstein Says Sell Bank Stocks After Rally

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