Banking
Wells Fargo & Co. New Symbol: WFC
Rationale: The best and brightest in the banking industry. We recently played calls on this for 50% to 64% profits.
We often watch this position for put and call, around the sector.
Guidance: We initially began recommending WFC as a call option, returning 60%^ in the summer of 2008. We also took a core position in Wells Fargo at that time at 15.50. WFC has doubled during this time and most traders have taken at least 1/3 of their position off the table at a doubling.
Stop Loss: 20% trailing stop loss, or PNF support lines at 20.00
