April 12, 2014 Comments

On Friday, the S&P 500 was down 1.0% and Toronto was down 0.4%

Some weaker stocks of note included:

Visa, down 2.4% to $197. We had last rated this a Buy back in 2012 at $147 and thereafter called it a Weak Buy, most recently at $220. It might be worth nibbling on at this point.

Toll Brothers down 2.4% at $34.73. I may add to my position especially if it goes to $34 or less.

Bank of America was down 2.2% to $15.77. It is speculative but I would buy at this price.

With American Express down a little more on Friday I added to my position in that stock.

Wells Fargo is updated and rated Strong Buy at $48.08. Perhaps I am getting too exuberant, but when you look at this bank and how it is earning an ROE of 14% and trades at a price to book of 1.62 and a P/E of 12 and is growing strongly, it cerainly looks like an excellent investment. There are no guarantees but it seems reasonable to forecast that this will be a good investment if held for the longer term.

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