The FinancialContent Network     SocialPicks Community   |   MarketMinute Monitor   |   MarketMinute Market Updates   |   MarketMinute Stock News
SocialPicks
   Sign Up   |   Log In   |   What is SocialPicks?     
6 pts

Opinion on  Wells Fargo & Company (WFC)     Sector: Financial  >  Industry: Money Center Banks
WFC short

Sep 09, 2009 05:02 PM GMT
Me
Return Risk
+1.33% HIGH
Sr. Associate

Market looks like it needs to correct a bit technically. Banking, in my opinion is one of the weaker sectors. mark-to-market needs to be done with and FASB needs to go back to honest accounting standards. toxic assets need to be removed from the balance sheets of the banks, over leveraging needs to be minimized, and securitization needs to be put on hold.

I'll be shorting WFC when the market corrects soon. As always, you cannot fight the market trend.

Terence Chow on seekingalpha.com has written a very nice piece on why the financial sector is in terrible shape. this article particularly refers to Citigroup.
http://seekingalpha.com/instablog/481824-terence-chow/26153-c...

good luck to you WFC longs.

WFC:  This call was made on 09/09/09 @ $27.469
Rating:   Negative   $27.469 (09/09/09)
Closed:   11/12/2009 @ $28.37 (-3.28% in 64 days)
Target:   $20.00 (-27.19%) in Three months


Comments (1)

Add Comment

Arrow_up
Arrow_down
Anything
utopius   83%     1 point   commented 60 days ago reply

Does this mean you haven't yet shorted WFC with real money? How will you be able to determine a small market correction (like last week's 3% drop) from an actual bigger drop in the stock market? Let's say the markets are 9% off their highs, maybe that's just a small correction before we set new highs? Maybe we just keep going up into December like 1999? Maybe we have a crash such that you aren't offered any bids with which to short on the way down? Thoughts?

Your Comment



ROCK-STAR INVESTORS
Rank Name Sharpe Ratio Avg Return Followers
1 noshoes 21.10 +34.44% 381
2 Gerald Greene 18.14 +71.24% 211
3 stockmarketfunding.com 17.66 +25.60% 55
4 akiralegrand 13.47 +14.32% 62
5 anup2104 12.13 +74.22% 40


POPULAR STOCKS
Symbol Company Name Sentiment
MSFT Microsoft Corp
WFC Wells Fargo & Company
INTC Intel Corp
BAC Bank of America Corp
JNJ Johnson & Johnson
RIMM Research in Motion Ltd

TODAY'S HEADLINES

TODAY'S TOP PICKS

 
Wells Fargo & Company (WFC)
   SocialPicks Sentiment:   

   This Quarter's Sentiment:
All:
67.0%
Top:
9.5%




Latest Picks by Tyler Hiranaka
Symbol SP Sentiment Rating Return Since
TWM Positive -1.98% 11/12/09

View All >
   




IN THE PRESS
Press_forbes Press_washingtonpost Press_wsj Press_npr Press_techcrunch