Hmmm.. I find it quite interesting that new home sales are getting stronger with each passing month. I wonder what that means for companies like Wells (WFC) and Bank of America (BAC) with massive exposure to housing?

Disclaimer: I am LONG Wells Fargo (WFC) and Bank of America (BAC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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Simply Amazing, the housing market is recovering and the market is in full bull mode and Wells Fargo (WFC) is negative…..pure manipulation!

Disclaimer: I am LONG Wells Fargo (WFC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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Boy, the old stage coach got held up today. If you looked at the negative action in Wells Fargo (WFC) today, you would think that they went back to request more TARP money, but that was not the case…they beats earnings by $0.23c and also on the top line. The media and the shorts chose to focus on “continued” credit losses. Listen, at the end of the day the company is 1) profitable, 2) if you believe credit quality is going to get worse, the commodities and rest of markets upward movement don’t suggest that…they indicate a recovery. If the economy recovers, credit losses will stabilize and decrease. At the end of the day, anyone who sold Wells today that was long got robbed…plain and simple.

Disclaimer: I am LONG Wells Fargo (WFC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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Wow, I know the action today was options related, but man…they really have it in for this guy — can’t catch a break. The million dollar question is… how long will the media dog this company focusing in on credit losses and completely ignore the collective earning power of the bank that negates these losses. At the end of the day, Bank of America (BAC) is ”making” money and as the economy comes back, it will only get better….plus the earnings potential combined with Merrill and Countrywide will only juice earnings.

I know… what about TARP? what about double digit unemployment? I say the TARP will be repaid by latest mid 2010 or within a year. As for unemployment, it will hit 10%…but its a lagging number and will be the last thing that will improve. In otherwords, by the time unemployment goes back to say 7%, don’t expect the BAC bus to still be waiting for you at station 13. 

Disclaimer: I am LONG Bank of America (BAC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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They beat by $0.05 but it won’t be enough…..Waiting on the Bank of America (BAC) CC at 8:30am ET, but as I said before, this one will be pinned at 13 thanks to the options boys…have a nice day!

Disclaimer: I am LONG Bank of America (BAC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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