Trading Strategy: Buy weakness to my annual value level of $49.56. My monthly and quarterly pivots are $52.39 and $53.27, respectively. Reduce holdings on strength to my semiannual risky level of $62.23.
Wells Fargo plunged to a test of its 50-day simple moving average of $52.84 this morning. This is between my quarterly and monthly pivots (or magnets) of $53.27 and $52.39.