Thx,Will hold the Qs..and add on any $1 dips.I believe you will be ok on those Jan.$22.50s.Btw i am strickly a trader,although i saw weekness all day in WFC,$25 area was my cover point.Very seldom do i break my plan!!Peace.
Here is two reasons not to short WFC now. Recessions on average last 14 months. This one is 11 months in. The government is throwing money all over the place to stimulate the economy.
2 Replies here..Blue..closed ot my short position firstname.lastname@example.org and re-shorted email@example.com. i see a daily trend of up/down/up.but that wont last,WFC will drop to $25 area ..and on any bad news.(and you know its coming)$20 and below briefly.To: water..your answer is easy..WB had a 5% yield also,Should i go on.didnt think so.financials are not done declining yet.Peace.
i can't give you a reason to go long but can i ask what level you plan to take your potential profit ? and how long you are willing to wait ?
i'm guessing we'll see south of 25 again but not sure we'll see south of 20.
i hold jan 09 naked puts (22.50) so i'm betting WFC won't be below that level by mid jan.