Similar to TSLA, WFC has been on an oversold then overbought momentum swing. Albeit, TSLA had a long consolidation time as did WFC back in November 2020 to June 2021. It’s time for a rotation back into cyclicals for their best quarter of earnings, but WFC is super hot and likely needs to come back down to mid-39 or even mid-48 before the fed meeting. Which I...
Long to 54…. EOY I hope. Maybe January since Feb is the worst month for markets. I’ve got over 500 calls between Jan 2022 and Mar 2022 at 50 strike. Just a trend… do with it as you please.
Looks like WFC and the financials have finished taking their sweet time consolidating for the last few (3-6 months). Looking to push higher if 10-year rates continue to move toward 1.7-1.8%. Would like to see 52-54 by end of October-EOY.