Bank of Nova Scotia had a nice gap down today. I’m going to go ahead and short it with a stop-loss at 57.35:
Nova Scotia Gap
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.
Break of America
Some interesting “pivots” happening in the world of banking stocks, such as Bank of Montreal (BMO). One in particular that caught my eye this morning was megacap Bank of America (BAC) which has been pounding out a series of higher highs and higher lows since the depths of the financial crisis. It seems to have stalled at the red horizontal, however, and this morning we’re seeing an intriguing flip lower.
Leave Home Without It
One powerhouse of a stock which is showing signs of weariness is American Express (AXP). Take note of how it’s already done some damage to its long-term uptrend, and how it has formed a small, but clean, distribution top.
Bank On It
I presently have 57 short positions, and 7 of them are banks. Below are the charts of the seven banks whose stocks I am presently short:
Modern Monetary Theory
In the book Modern Money Theory by L. Randall Wray, the author declares of MMT (that is, Modern Monetary Theory) that it will go through three phases of public opinion.
First, it will be ridiculed. Second, it will be violently opposed. Third, and finally, it will be accepted as self-evident. I’m not sure if it will play out that way, but I’m here for offer an essay which is probably straddling the first and second phases.
Interestingly, this prediction was word for word what a certain Elizabeth Holmes declared in this video when she was making her final, desperate bid to save Theranos from its inevitable failure.
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