The stress test result already leaked and BAC need to raise about $34 B but the gov pref shares of about $30B will be converted to common meaning they need just about $4 B more, the dilution was already priced in and BAC is selling some other parts that they got during merrill merger to staisfy the remaining. That's why the huge run up today , same story with C, they need about $5 B which they are getting from selling japanese unit..these two banks were the biggest concern apart from WFC but since Buffett sharply criticize any result that would make WFC to raise additional capital so ppl think he is right ..hence we saw the rally...if there is not any more twist to this story, i feel like the rally would continue till friday before sell off ..I sold half of BAC around 12.8 but still holding half , which i might hold long term..I'm long on C.