*Investors Blog*

I was waiting for WFC thinking they were done with the billions and billions of fines and lawsuits but new ones pop up everyday, so I dumped it yesterday, so many better companies. Though I still have it in my 401k. Quite a bit of it, good news is I am up on that one buying it every week all the way down to around 23 and back up again. I'll be getting out of that too and out of that 401.

I did the same thing buying WFC all the way down to around 22 or 23. Sold half of it around 60. Dumped the rest around 47 when it looked like it would be stuck there or lower for the foreseeable future. I like doing business with WFC, hate BoA with a passion, but the continual bad news and fines means I won't buy back in unless it hits the 20s again.
WFC in the news again with a drunk VP on a commercial flight.
 
I like what I'm seeing on the" Nasdaq Bottom Finder" Indicator and it's currently at 32

View attachment 134391
Reminds me of this chart. I don't understand the correlation between harvest cycles or whatever pattern this is based on but despite being a little out there, it does seem to back test pretty well, maybe coincidence? Looks like 23 will be the bottom according to it.

Chart.jpg


Edit* I looked into this Samuel Benner guy a little bit. Apparently he was a farmer and was wiped out in the market panic of 1873 and as a response his research to the market failure led to his book: Benners Prophecies (pdf) in 1875. The chart is based on commodities an sun spot cycles... Anyway, there appear to be some universal constants at work here.

The Benner Cycle includes:

-an 11 year cycle in corn and pig prices with peaks alternating every 5 and 6 years.
-cotton prices which moved in a cycle with peaks every 11 years.
-a 27 year cycle in pig iron prices with lows every 11, 9, 7 years and peaks in the order 8, 9, 10 years.

 
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I did the same thing buying WFC all the way down to around 22 or 23. Sold half of it around 60. Dumped the rest around 47 when it looked like it would be stuck there or lower for the foreseeable future. I like doing business with WFC, hate BoA with a passion, but the continual bad news and fines means I won't buy back in unless it hits the 20s again.
WFC in the news again with a drunk VP on a commercial flight.
YES!!!! You did great, I wanted to scream when I didnt dump it when it hit 60. Gosh, they are always in a scandal and always losing!
I worked for them part time for a short while, waiting for medicare to kick in, the CEO really seems to be trying, the training of putting people first was relentless as he tried to pull the company out of scandal and scandal (he wasnt CEO at the time of the big one)
I got out yesterday at $42.78 and took a small loss, this isnt the 401k which I have a significant holding and it is profitable but wow what a bath I took not getting out when you did.

I know about that flight, gosh, it's ALL over the news. A WF executive for their India operations.
All this negative press is surreal *LOL* and we know the group of politicians (banking committee) still have it out for WF and I cant say I blame them. For a while I thought the committee was going way overboard as the issue was settled but they wouldnt give up harassing them, so what does WF do??? They have another scandal all lines up! *LOL*

With the above said, my feeling, retail banking (brink and mortar) is falling by the wayside, as far as savings accounts and stuff that is so simple to do online but they seem to be adjusting, bank buildings are just about down to skeleton staffing in many places.
I dont know what the future holds for legacy banks anymore. Maybe retail isnt worth it to them in the future, they do have much other business, investment and commercial banking ect. There is a shift, I know, I keep some local banks but the vast, vast amount of my banking is 99% on the internet.
 
Reminds me of this chart. I don't understand the correlation between harvest cycles or whatever pattern this is based on but despite being a little out there, it does seem to back test pretty well, maybe coincidence? Looks like 23 will be the bottom according to it.

View attachment 134395

Edit* I looked into this Samuel Benner guy a little bit. Apparently he was a farmer and was wiped out in the market panic of 1873 and as a response his research to the market failure led to his book: Benners Prophecies (pdf) in 1875. The chart is based on commodities an sun spot cycles... Anyway, there appear to be some universal constants at work here.

The Benner Cycle includes:



Thats based on like 18-20 year cycles which may or may not happen . The chart I posted is 52-week highs in Nasdaq stocks divided by the sum of new 52-week highs plus new 52-week lows. And the 10 day ema rises above 35 .
 
I really don’t follow charts but I find Carter Worth very interesting in his analysis of charting the markets. I sometimes see him on CNBC and his charts.


 
I really don’t follow charts but I find Carter Worth very interesting in his analysis of charting the markets. I sometimes see him on CNBC and his charts.



Wow, I wish I could get this guy to my house to teach me as you know I have taken an interest in charts but have no idea what I am doing at this point and most likely will not do anything near term or ever. But I like information as you can pick up pieces here and there and become quite informed over time. Im not a commodities person though but find the charting aspects fascinating as I have been seeing some of what he shows in my research.
I thought I would have more time to learn about this stuff but getting a little sidetracked once again in-between moving to the coast and an update yesterday from the contractor that time might be getting much closer to closing, meaning in my head no later than March.
 
That kind of thing is so tough to track and invest in. It's NOT supply and demand. It's like reverse triple contrarian on 7D chess string theory.

So I bought 100 shares of BOIL in the pit today.
Like catching a falling knife .
 
I work a full time and travel so I really don’t have time to follow the markets daily.

I did have some good days last year when war started and rode the momentum up for a few weeks and got out.

Some people follow the 200 Day Moving Average….. some follow the Buffett Indicator…. I like to follow the Diesel Indicator.
 
Wow, I wish I could get this guy to my house to teach me as you know I have taken an interest in charts but have no idea what I am doing at this point and most likely will not do anything near term or ever. But I like information as you can pick up pieces here and there and become quite informed over time. Im not a commodities person though but find the charting aspects fascinating as I have been seeing some of what he shows in my research.
I thought I would have more time to learn about this stuff but getting a little sidetracked once again in-between moving to the coast and an update yesterday from the contractor that time might be getting much closer to closing, meaning in my head no later than March.
If you order Vector Vest it will teach you to read charts and tell you when to Buy and Sell on something like 7500 stocks . I highly recommend it and it's only 99 cents for a 30 day trial >>>>>>>>>>>>>>

 
If you order Vector Vest it will teach you to read charts and tell you when to Buy and Sell on something like 7500 stocks . I highly recommend it and it's only 99 cents for a 30 day trial >>>>>>>>>>>>>>

Very cool, I just may check this out. Im kind of analytical most in here maybe know that, if not, just ask my wife, god bless her *LOL*
Anyway, this is the kind of stuff I think I am looking for and will be researching more than trading for the immediate future. Want to do this with some sense of sanity and knowledge.

I thought I would be further along with this but our new home is getting closer to completion and a bit side tracked here, meaning Im not sitting around doing nothing. Still most likely wont be done until March UNLESS the county gets the sewer hooked up in a timely manner which is possible, no way to know.
 

Big banks set aside $4 billion for a recession​


” Big banks including JPMorgan, Wells Fargo, Citigroup, and Bank of America all reported quarterly results on Friday.

These firms collectively sent a clear message to investors — we are preparing for a downturn.

As a group, these banks set aside more than $4 billion in loan-loss provisions, or money they expect won't be paid back by borrowers.

JPMorgan (JPM) set aside $1.85 billion in provisions for credit losses, saying these reserves were built as the firm's outlook is "now reflecting a mild recession in the central case."

Bank of America (BAC), for its part, set aside $1.1 billion for credit losses in the fourth quarter, Wells Fargo (WFC) $936 million, and Citigroup (C) another $640 million. “
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Lots of storm clouds on horizon with soooo much toxic debt. They are already prepared for upcoming recession.
 
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