The Director was kind enough to send this to me, which shows how severely banking credit is contracting. Given the long timespan of this chart………….it’s not nothing.
Boil Some Water!
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.
Huntington Bancshares
I realize it’s uncomfortable to considering shorting a stock with a P/E of merely 7, but I’m a chartist, not a balance sheet reader. Below is HBAN, which is sporting a top analogous to the giant tinted area.
Divergent
Since the start of 2022 RUT has been negatively diverging from SPX. This divergence continues to mount, as today can testify to. As I am writing this, RUT is down roughly 1% on the session and SPX is flat. You can see how striking the divergence has become in the chart below. To highlight the continuing nature of the divergence, see that RUT topped last Friday has been moving down steadily throughout this week. In contrast, SPX has continued to charge higher.
Making Bank!
Wow, what a fantastic morning! I’ve been nursing these banking puts, and they are really starting to fly! It totally makes sense that every single idea I’ve offered is an absolute home run, and I’ve got to beg people for a few pennies to subscribe, while Cathie D. Wood has lost 40% in the past three months and manages billions, plus is on television every day. Yep. Clown world. Anyway. I remain deliciously unpopular, so I anticipate global worldwide cataclysm.
Good.
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Subsidized Surge
Earnings season is now underway, and as usual, it begins with the banks. I suppose they are always first, since the accounting is so simple. (AKA: Government Handouts MINUS 0.01% interest paid to customers EQUALS profits).
