The above chart shows Wells Fargo’s sentiment moving up 9 pts from their last earnings announcement and flat for the overall quarter. Sentiment for the S&P was down 14 pts in the same period which makes Wells Fargo’s sentiment increase even more impressive. On the Piqqem scale, Wells Fargo’s sentiment rating of 27.12 is considered a buy and this absolute sentiment indicates a quality stock. Only Wells Fargo knows their actual results, but current sentiment points to the regional bank delivering good news on Wednesday.

http://www.piqqem.com/blog/20100420-wells-fargo-sentiment-rebounds-ahead-of-earnings

Single negative on Wells Fargo. I'd short the stock but with a tight stop (maybe a 5% upside stop). More problems ahead.

Single short. Whitney Tilson of T2 says he expects asset write offs to go up again next quarter, most recent was an anomaly.

On the contrary, they were able to acquire Wachovia because of their limited to exposure in the California housing market. Once wachovia is leaned out - I expect good earnings.

Way too much exposure to California real estate. Will likely not make it through the year but if it does, a huge win.