Who knows? Tomorrow, pre-holiday, likely to be lighter in volume than normal. Some stocks could shift up and down like Taz or Road Runner. Might be harder to get the price you want. Though I sold my WFC today (small position), I'm still looking to trade it. I like the company, toxic assets and all, and have confidence that the balance sheet will work itself out in the long run. Or so says the Oracle.
WFC has traded between 14 and 17 for a month or so now, which kind of pinpoints me as a chicken for jumping out today at 14.70 (closed at 14.88). Really, shouldn't anyone be buying WFC below 15 and selling above 16? Yeah. Of course. But I don't trust this market. I don't trust the programs that sell millions of shares by the minute, whether it's Wells Fargo or Citigroup (especially) or any other entity.
Tomorrow, I'd like to ride WFC between 15 and 16, no question. I'll even take a gain of $.50. Until the financials start reporting on Tuesday (Goldman Sachs), it will remain choppy. Maybe go long on GS Monday.
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