Wells Fargo Bank (WFC) reported record first quarter earnings of $3 billion, blowing away street estimates and sending the stock surging higher last week.

If you’ve read this blog for any amount of time, you know I made a trade on WFC buying it at $8.20 and selling it 9 days later at $16.40. This was a no-brainer and one of the easiest trades I have ever done. I was even called crazy for buying it when I did.

One of the most important things I have learned is you don’t have to trade every day, or even every week. You just need to pick stocks that have the most potential upside and limited downside which is really a challenge. I also don’t pick at random. A lot of careful research goes into my trades and not all of them pan out. The quicker you can limit your losses, the better.

You haven’t seen a lot of posts lately from me because I’m sitting on the sidelines for the most part. When I see something good, I’ll post it here. Otherwise, I have been posting information from other traders who are more active than me and I hope you are enjoying them.

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