Should I sell to lock in gains?
I bought shares in BAC, HIG, AXP and JAVA back in MId-March. I've seen them gain quite a bit especially this past day when WFC announced a surprise profit forecast. I feel that I want to cash in because I have a feeling that not all financial institutions have made the same choices as Wells Fargo.
- Anonymous1 decade agoFavorite Answer
trust your instincts...i personally think the rally has room to run but if you want to lock in some profits you could sell only half of it. That way you got yourself some profits and keep some skin in the game.
- Space Invader101Lv 61 decade ago
I'd at least hold onto BAC. They're 2008 annual income statement was similar to WFC's. The market might start down with profit taking after last Thursday's rally, but then you've got JP Morgan's results on Thursday followed by GE, Citi and BAC on Friday. I'm expecting JPM, GE and BAC's 1st QTR results to be good.
- 1 decade ago
I don't know what you should do my friend but i will tell you that i have dumped all my bank stocks at the end of thursday rally simply because I am still not too confident that the banks are out of the woods. I have nothing to show that the banks are well capitalized even if they have toxic assets. Wells fargo made $100 billion morgage loans out of $196 billion applications. This shows they are still not there yet. I am at moment shoping around for undervalued bearish stocks mostly industrial sector.