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Position Update – WFC

Wednesday, March 4th, 2009 | Uncategorized with No Comments »

This may sound rather insane or crazy.  But I picked up some calls on Wells Fargo after all the financials  have been smashed up and thrown in the trash.  It’s not really that I think Wells Fargo will survive or  not because I truly don’t know.  I wish I could say that I knew what was in the books or it would be nice to say that I could truly analyze it if I got my hands on it but I cannot at least at this time.  Seriously though, I would need an army of people much smarter than I to do it.  So I list to the best indicator of all.  Price.  All the information in the world boils down to a price.  If it goes up, it’s good.  If it goes down, it’s bad.  So I bought a decent amount of calls and see a price target within the next 3-4 days of $12-$13.  It’s at $9.20 right now. We’ll see.  Hold on tight, it’s gonna be a bumpy ride!

http://ralphlosey.files.wordpress.com/2008/06/wellsfargo.jpg

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Mister Bull

MisterBull is trading blog by trader who trades primarily by event driven macro-economic trading philosophies with adherence to basic technical principles. Traders are usually held for days to weeks. MisterBull is not offering advice or recommendations but merely for educational and entertainment purposes please contact your awesome blood sucking financial adviser about ideas.

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