Hi Shoppers,

I am seeing a great trade set up in Well Fargo (Ticker: WFC).

WFC has had a really nice rally until yesterday.

The stock traded right up to and through that previous high before it made a complete reversal and created a bearish engulfing candle:

WFC rallied from $40 to $48.63 and is looking ready for a pullback.

I will be looking for an opening lower and, after an hour or so of trading, I will be a buyer of the Feb. 24 47.50 puts:

I think WFC will trade down to $46.25 and then on to $44.

Remember to wait for the confirmation and for at least an hour after the opening.

Trade Review
I recommended calls in Amazon (Ticker: AMZN), but the stock has not traded higher, so I have not made the trade.

It is still trading above my $97.60 support level, I will continue to watch it for a bullish signal.

Thanks for Reading … 

Licia Leslie