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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status |
|---|---|---|---|---|---|---|
| WFC | Banks | 0.80% | n/a | 2 | 26-Dec-08 | Prior Holding |
07-Jun-09
I'm Back
Holding Rationale for WFC.
And will be posting regularly again. In this post Ill have a brief market update and a trade idea.
Market Update: The chart of SPX says it all, right up at resistance, the Dow and Transport chart are also right at resistance. Friday was a bearish day with higher volume than what has been the norm recently (based of SPY volume) I still think we need to pull back but I am adding another long position just in case.
Trade Idea: Stole this somewhat from the shadowtrader weekend newsletter. They recommend long WFC but I am going to use the options. I like selling the WFC Jul 24/22 put spread for .70 or better. I did it on mytrade. 24 area has been support. I will begin posting regularly again tomorrow sorry for the hiatus.
Posted at 19:23 in Holding Rationales | Permalink | Top
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