WFC

Total System Services is one of the largest providers of electronic payment processing services to banks and retailers worldwide. New contract wins overseas are helping to offset customer losses stemming from consolidation in the financial industry, but there are few near-term catalysts for growth.

InTheMoneyStocks.com again calls a sell yesterday as the market hit into a major trendline resistance point at $115.15. Sure enough, the call was perfect as the markets are being slammed. DOW is down 200 points on

Since the March low when the SPX traded at 666 the market has had a rally beyond comparison. The SPX is currently trading at 1125 and this is a 460 point move in ten short months. It is important to realize since this bull run began that the market has not experienced a single 10 percent correction. This is not healthy action.

As of today the top ten most active stock option contracts traded were:

1. BP (BP) November 55 Call Options
2. BP January 50 Call Options
3. BP January 40 Call Options
4. Eli Lilly (LLY) January 30 Call Options
5. S&P 500 SPDR (SPY) November 107 Put Options
6. BP January 45 Call Options
7. Bank of America (BAC) November 16 Call Options

Wells Fargo & Company (NYSE: WFC) reported diluted earnings per common share of $0.56, up 14 percent from $0.49 last year. Analysts average $0.37. WFC beats by $0.19.

Record net income of $3.2 billion, up 98 percent from last year.

Wells Fargo & Company, through its subsidiaries, provides retail, commercial, and corporate banking services principally in the United States.
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n this post I will compare some put options amongst some of the most actively traded financial stocks, which will benefit the most from rising market volatility. With the market rallying and volatility sinking like a stone lately, now may be a good time to get long some put options which will benefit from both a sell off as well as rising volatility.

In this post I will compare some put options amongst some of the most actively traded financial stocks, which will benefit the most from rising market volatility. With the market rallying and volatility sinking like a stone lately, now may be a good time to get long some put options which will benefit from both a sell off as well as rising volatility.

I happened to be on TV the afternoon of March 6th, broadcasting the last 3 hours of a day that the market was plunging 300 points off the open on Livestock with Tim Sykes, where I laid out my bullish case.

Remember those banks that the federal government bailed out because they were "too big to fail?" Well...after mergers and bank takeovers (some encouraged by the government) those banks bailed out because they were "too big to fail" now are much bigger. JP Morgan Chase and Bank of America combined now control more than 20% of all bank deposits in the United States.

I believe a pull back [7%-15%] on the major indices is not only inevitable but necessary for a healthy market recovery. Let's face it, we've come too far too fast, and as we were oversold on the downside until early March, I believe we are currently overbought.

As I recently wrote on OptionMaestro.com, I believe the bank stocks are especially overpriced, but don't really want to sell all of my shares (as this stock market could continue rallying). In this post there are two types of hedging or protective ideas that require the use and knowledge of stock options.

As recently posted in my blog, I've been expecting a pull back. However the market has made a fool of me lately. The S&P 500 passed through the 1010 mark today on rather bad news, so maybe this rally is for real and will continue.

People keep calling me a bear, but I'm just being conservative. Given the rally we've had, I think it's a great time to take profits. I was selling a lot of covered calls for the August expiration Thursday, as we approached market close. I'm getting conservative because I think we're due for a pull back on the major indices.

Thursday was another great day for the bulls on Wall Street, and another great opportunity to get short for me, as I believe this market is well overbought on the short term. The market sold off a bit going into the close, my guess is because some were taking profits before the GDP numbers.

Thursday was another great day for the bulls on Wall Street, and another great opportunity to get short for me, as I believe this market is well overbought on the short term. The market sold off a bit going into the close, my guess is because some were taking profits before the GDP numbers.