I use WFC as a barometer... when it gets sub 42 the banks tend
to be a good buy, when it gets above 46 they are a sell. Has
been the case with WFC since last summer but you can see a long
term wedge forming now with higher highs and higher lows.
Will be watching for sub 42 later this month and plan to go
long WFC - i'm hoping Steve's thesis plays out and the SnP gets sub
3800 which may coincide with BTC sub 19k and WFC sub 42. I'm
watching for these stars to align hopefully later this month.
I've ridden the WFC train from 41-47 a couple times, hoping
to do it again.
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Banks getting squashed. JPM one
Posted by buddha on 7th of Mar 2023 at 01:31 pm
Banks getting squashed. JPM one trendline to the other, no b/out this time!
I use WFC as a
Posted by fredsaid on 7th of Mar 2023 at 01:51 pm
I use WFC as a barometer... when it gets sub 42 the banks tend to be a good buy, when it gets above 46 they are a sell. Has been the case with WFC since last summer but you can see a long term wedge forming now with higher highs and higher lows. Will be watching for sub 42 later this month and plan to go long WFC - i'm hoping Steve's thesis plays out and the SnP gets sub 3800 which may coincide with BTC sub 19k and WFC sub 42. I'm watching for these stars to align hopefully later this month. I've ridden the WFC train from 41-47 a couple times, hoping to do it again.