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New daily closing low for Wells Fargo, the bank most exposed to...

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eshmun

12,259 Posts.

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24/09/20

16:19

Post #: 47605526
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Originally posted by eshmun ↑

Even the stock pushers at CNBC know what the most important charts to watch are. The bank stocks haven't joined the Fed fuelled rally to the extent of other stocks, in fact they look to be turning over. JP Morgan's stock price has turned over along with others. As mentioned in a previous post Wells Fargo is the bell weather for the US housing market as it has the largest exposure to that market amongst all the major US banks. Wells is finding new lows. Wait until the Fed has to get its money printing bazookas out to save the banks, that's when all the Fed market gamblers will really see fireworks.Esh

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New daily closing low for Wells Fargo, the bank most exposed to US mortgages after the NY Fed that holds about 30% of all mortgaged backed securities on its balance sheet.Esh
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0 Great analysis

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