Many economists believe that "falling off the fiscal cliff" at this stage of a slow economic recovery would cause the U.S. economy to slip back into recession. Guggenheim Securities analyst Marty Mosby on Monday said in a "Tactical Trading Sell" report that Bank of America "is one of the leading candidates for a significant correction if the pressure on the U.S. economy from the Fiscal Cliffs begins to build." Mosby actually rates Bank of America a "Buy," with a $12 price target, which would represent 21% upside, however, the rating and the target have 12-month outlooks, while Mosby believes "BAC could trade below $8 over the next three months if it becomes apparent that the U.S. economy is about to be pushed over several of the upcoming Fiscal Cliffs." The analyst's short-term trading range for the next three months for Bank of America is from $7 to $8 a share, "based on a 60% price to current tangible book value multiple. BAC currently trades at 73% of current tangible book value."