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Vet67to82 (< 20)

Mr. Warren Buffett likes WFC and GS



May 02, 2009 – Comments (1) | RELATED TICKERS: WFC , GS , FAS

Mr. Warren Buffett likes WFC and WFC is 5.22% of FAS  as of 3/31/2009. 

Top FAS holdings as of 3/31/2009
Symbl Company name (% Net asset) After Hours
JPM J.P. Morgan Chase & Co.( 8.56%) $32.72 +0.23  +0.71% Vol. 223,937
WFC Wells Fargo Company (5.22%) $19.61 unch  Vol. 190,666
GS Goldman Sachs Group, Inc. (4.07%) $127.00 -0.08  -0.06% Vol. 111,290
BAC Bank of America Corporation (3.75%) $8.72 +0.02  +0.23% Vol. 21.07 Mil
BK Bank of New York Mellon Cp (2.81%) $26.15 +0.25 / +0.97% Vol. 23,975
USB US Bancorp (2.21%) $17.95 -0.01 / -0.06% Vol. 24,134
V Visa, Inc. (2.16%) $64.75 -0.26 / -0.40% Vol. 72,098
TRV The Travelers Co, Inc. (2.14%) $41.21 0.00 / 0.00% Vol. 6,186
Percentage of holdings 30.92%

However, to be fair, the short term chart ( 10day / 15 minute  4/20/2009 - 5/1/2009 ) offers mixed signals ...:

Moving Average Price Compare
Yesterday, WFC closed below its 13 minute moving average. This is generally considered to be an indication of a bearish trend.

Moving Averages - No current signals

Bollinger Bands
WFC is trading near its lower Bollinger Band. This suggests that the stock price is low relative to its recent price action.

The Stochastic Oscillator is registering a strong bullish signal as the %K has crossed above the %D and the oscillator recently moved above the critical value of 20 and is no longer oversold.

On Balance Volume
The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term accumulation selling pressure.

Price Channel
WFC is trading within its price channel. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the price action over the last 5 minute period.

   Berkshire is a big shareholder in several bank holding companies undergoing the stress test, including Wells Fargo Co., American Express (AXP), and US Bancorp (USB).  Buffett also invested $5 billion in preferred securities of Goldman Sachs Group Inc. (GS).   Mr. Buffett's comments will no doubt have a positive effect on these stocks in the coming week through the stress test announcements.  


1 Comments – Post Your Own

#1) On May 02, 2009 at 10:09 PM, NOTvuffett (< 20) wrote:

i like wfc, it is one of my picks.  wachovia acquisition made them much stronger going foward, but the trouble is what is the government going to do?  will be a $24 stock if they say doesn't need to hold more capital, could be a $18 stock if they say they it must even though making profits.

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