November 10, 2016 12:45 pm eastern sold some Wells Fargo

Markets are up strongly again today. With Wells Fargo up 6.6% and given its recent troubles and given there may be better stocks to own, I sold more than half my Wells Fargo today. First I sold the small amount in registered accounts. Then, with trigger finger somewhat primed, I decided to let go of half of the amount I held in a taxable account. I hesitated to sell as it will trigger paper work for taxes and the payment of taxes. But I will retain a fairly heavy allocation to Wells Fargo and this frees up cash for other uses.

I can’t predict market rallies. But I can react. My reaction to the increases of the past few days is to be inclined to trim just a little. I am not predicting it, but it is certainly possible that the gains of the past two days are just a little honeymoon for the Trump election.