Another Bank Worth Watching
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Some Thinner Banks
Fit To Be Tied
I entered a new position today: Fifth Third Bancorp $34 puts expiring February 16 2024 (a lusty 210 days remaining). This is costing me virtually zero premium, and it’s a gorgeous-looking top.
Another Brick in The WAL
Ever since Janet Yellen completely threw the rules out the window and bailed out all her banking friends on March 13th, the financial sector has been thriving in the swimming pool of free cash they’ve received from the government. These explosive moves higher are continuing, but looking at the likes of Western Alliance Bancorp (symbol WAL) it seems to me the breathless ascent’s days are numbered. Before Yellen’s corruptive disruption was introduced, the stock was rightfully headed for $0. As it is now, it is approaching a mountain of overhead supply whose bottom is at about $53.62.
Bank On It
On the heels of bank earnings, the KBE went roaring higher today. Note how the small bullish pattern is complete. More important, however, look at the looming monster of a top that isn’t that far away from present price levels. How the battle between these very-differently-sized patterns plays out will dictate the rest of 2023 in the stock market.
