WFC - Wells Fargo & Company - Page 14

Headin for 30+++

Don't think so. I follow WFC and BBT closely(long on both), and they seem due for correction. ( Major resistance areas ).

But hey, I hope you're right.

Really, so your holding both of these in long positions?

Well good luck to you too, I think we are going at least to $35 short term...

PSM

Yup. Two of the stronger US banks in my opinion. ( and the only US banks I hold long term ).

Heading to $31+++ today

Will hopefully have enough horsepower today to make it past the $32 hurdle

$29 looks like a good entry point if u r patient; should meet the 200ma there and find good support in that area from past resistance.

I am buyer of WFC at the close today, the chart posted below explains it all, look at highlighted areas

went long @ 30.13, 100d is 29.83, my stop is right below that at 29.80

sold out in pre market at $26.60, cant win em all

they got upgraded too, but euro retards screw everything up

If the overall market was not at the peak of a rally I would think WFC current price @23.83 is attractive. I can't help but think WFC will drop more if/when the market trends down again.

$20 would definitely be a good price.

Saw the story about the CFO stepping down today, unexpectedly, and without pay until August.  Sounds a little fishy and I see it hasn't been noticed or commented on by anybody at HSM

Wells Fargo Clocks The Financial Sector

 

 

While the markets are surging higher today, financial stocks are weak on the back of earnings from Wells Fargo & Company (NYSE:WFC).  The company reported net income that rose 51% but revenue fell. Revenue dropped to $20.3 billion from $21.5 billion.  This was mostly due to lower mortgage fees. Wells Fargo is getting hammered today, trading at $28.70, -1.37 (-4.56%).

The revenue miss on Wells Fargo is putting the whole financial sector under pressure.  JPMorgan Chase & Co. (NYSE:JPM) is trading at $44.31, -0.34 (-0.76%) and Bank of America Corporation (NYSE:BAC) is barely positive, trading at $12.39, +0.05 (+0.41%). Goldman Sachs Group, Inc. (NYSE:GS) is slightly higher as well, $152.89, +1.03 (+0.68%).

While some of the financial firms like Goldman and Bank of America are slightly higher, the Dow Jones Industrial Average is soaring by 200 points. In other words, even the positive financial stocks are under performing. The overall financial earnings announcements from the major players have been somewhat dissapointing. JPMorgan, Goldman Sachs and Bank of America all sold off after they reported earnings. Today, Wells Fargo is selling off.

Special Note: The one saving grace about Wells Fargo is the 200 moving average it is hitting on the daily chart. This may act as a short term bottom on the stock, especially ahead of the light volume holiday this weekend.

Gareth Soloway
InTheMoneyStocks.com

All banks are down today and sinking while WFC is up over 2%. Great opportunity to short this stock and buy back later for cheap.

WFC is lagging behind the other banks. No way WFC should have been up over $25 today and you saw it go down to 24.67 at the close. WFC will be under $24 in the morning and drop even more once Bernanke talks and doesn't have his much anticipated QE3.

WFC I called a short and look what happened at close as WFC sunk. I expect WFC to be under $24 before Bernanke speaks and going lower once he's done speaking.

WFC with a good shorting opportunity this morning. WFC has an inflated stock price in regards to other banking stocks and should get good selling pressure today.