I will take the extreme pop in price of JPM (assumed, after they announce) and Wells as an opportunity to dig beneath the numbers and the government authorized rhetoric to see if there is an opportunity to profit once again from these companies' concealing of the facts from the investing public.
Hopefully, my stress tests will be done in time. I no longer have any positions in WFC, having taken profits a while ago, but we shall see if they are harboring considerable non-performing assets under the auspice of a significantly relaxed regulatory and reporting environment - which is what I suspect. If so, it is very bad for the consumer and unsuspecting investor and very good for the investigative, forensic speculator given the pop in price.
CNBC sports the headline "Wells Fargo Projects Record Profit" - a tad bit optimistic considering this bank's exposure to consumer debt, CA mortgages, and swallowing a very large bank that was literally collapsing under it's own NPAs and bad mortgages. I won't know for sure until I take a close look, but I believe this record profit is sans the weight of the non-performing assets, which would be quite misleading, indeed.