For reasons behind human comprehension, banks exploded in value this morning following the CPI, only to have their teeth kicked in. As I’m typing this, the small caps are at their lows of the day, and things are looking VERY good for the bears.
One fine example, whose position I just augmented, is Fifth Third Bancorp (winner of the World’s Dumbest Corporate Name of the 21st century, with Ruth’s Chris Steak House close behind). The price gap makes me weep tears of joy:
I hope you can see as plainly as I can the potential for this thing to get nuked.
