Two developments will potentially shock the market, comes WFC Q4 earnings report.
#1, This will be the first time, EVER, WFC management will do a LIVE earnings call, instead of recorded discussion. Lots of analysts and potential insitutional investors craved for THAT. IMHO, WFC will also beat analysts by a mile.
#2, WFC is now free to decide how to return proftis to investors. Look for an announcement on dividend increase and/or stock buyback.
In recent days, a lot of accumulations on Jan$30 and Jan$35 calls. Make you wonder what some of the smartos think?
I'm very happy that WFC & BAC are focused on integration & execution as opposed to growth. It should be beneficial to shareholders in the form of dividend increases and share buybacks. I also think USB falls into this category but to a lesser extent, since they will probably buy more FDIC failures at accretive prices. We'll see.
My beloved PHK has been taken to the woodshed today. I can't complain.