WBS is at its 52 week high. Despite a down market week, WBS is 1 cent from its 52 week high. Some banks are pushing higher (JPM, MS) but some are weakening a bit (BAC, GS). Its pretty gutsy call to short this "Strength". 4/5 weeks of accumulation (high weekly closes with above average volume) WBS is certainly due for a pull back eventually (can't go up forever), but stepping in front of momentum is not a good recipe to short (Despite what you may think of the underlying).
God I hope soon. I shorted at 21.34, thought for sure it would pull back to under 21, then they had to go and upgrade this thing today. Pretty confident sometime this week it'll slowly drift down under 21-based on it's 6 month action, it usually pulls back a good dollar or 2 after a run up after a few days or so, hopefully history repeats itself.