Thursday, April 9, 2009

Ouch!

I sold my position in WFC yesterday at 14.70. It closed at 14.89.

This morning, WFC announced record profits for Q1, beating expectations. They weren't even supposed to announce today. The stock is trading in premarket at 18.06. My action yesterday cost myself a pretty mean profit.

Yeah, this sucks. But I move on. Plus, financials were all up early on a New York Times report. Citigroup is up a bit to 2.80.

Of course, I'm not surprised that WFC is making bank, so to speak. Buffett's no liar. I just didn't expect it this SOON. Something to be said for leaving good enough alone. Still might be an acceptable re-entry point this morning. Or afternoon.

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