"I do not believe the techs have as much to worry about, nor the banks, because both have excellent earnings prospects for the coming quarter. Why sell Apple (AAPL) here? Why sell Microsoft (MSFT)? And why dump Wells Fargo (WFC) or Bank of America (BAC) or JPMorgan Chase (JPM) when those have the best possibilities of good news ahead? I can see locking in some Goldman Sachs (GS) gains, but that's going to be the best quarter of all." "The Post-Mark-Up Could Sting Industrials," 6-30-09

getting ready to move

"There is a gigantic tug of war playing out here between the homes being pumped out by Lennar (LEN) or Pulte (PHM) or Horton (DHI) and the homes owned by Bank of America (BAC) or Wells Fargo (WFC) or JPMorgan (JPM) -- repossessed homes that could really kill any recovery. The homebuilders cannot make the houses cheaply enough to compete against the foreclosed homes. That's terrific." "We Want Sales of New Homes to Dry Up," 6-24-09

These offerings now all seem dicey with a lot of excess stock kicking around. I think that's fine in the case of Wells Fargo (WFC); I have been waiting for that stock to pull back after its miraculous run to $28 after the secondary.

one of most blue chip banks

housing

Strong bank with solid fundamentals. Not exposed badly to toxic assests.

own this stock

I can spin this pretty negative if you would like it: The steel stocks are up, and those are high-inflation stocks, so that must be the end of the good news, right? You have to be pretty frightened that Wells Fargo (WFC) didn't make the TARP payback cutoff, no? And worst of all, Google's (GOOG) down a buck and change! Oh heavens! Who the heck would have thunk it? Must be the end of the road, for certain. " ("You Can't Stop This Nasdaq Juggernaut," 6-9-09)

"Which leaves the banks, and they surprisingly are strong, no doubt because there have been no new deals filed. That should last the whole day. The bears have done their best to flood Wells Fargo's (WFC) name with lots of negativity, no doubt to somehow create the impression that another deal is necessary to pay back TARP. I think when we see the quarter -- which is a huge beneficiary of the housing bottom that everyone seems to know but the press -- we will be blown away by the money that's being made here." ("Banks Can Stanch the Bleeding," 6-8-09)

Dividend cut

They have a lot of subprime loans in their inventory. I know because I have one still.

Waited to long to cut their dividend.

has dropped like a rock, but used to be stable

Garbage stock for a garbage bank.

down market will increase

Costing me money

bank

GROWTH

The K. gets a lot of options and sure doesn't seem to want to hold onto them. I don't like US money center banks. Es have peaked and PEs could revisit the early 90s levels. Haven't done my research yet, but my gut tells me I won't like what I find--I suspect the bloom is off the rose and the myth may