Ok had about $100K in wash sale losses on BB&T that I needed to lock in so I sold 8000 shares of BB&T on Nov 23rd and bought USB and WFC to hold for 30 days. I am taking a bath on WFC. Hold or sale and put in JPM or USB? I think over the long haul WFC should be rewarded for picking up the Wachovia footprint so cheap.
Wachovia and their terrible resi and commercial loan portfolio was the straw that will break the camels back. Why in the world would you think the Wachovia loan pipeline won't crush WFC the same way it crushed Wachovia. Gimme a break WFC is headed for a Citi type fate.