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.
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.
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).
Bank of America (BAC), shown below, neatly captures what is going on. On the one hand, there have been core breakdowns to major support objects. On the other hand, in recent days, there have been so-called bargain hunters bidding up the stock. My point is that the broader trend will regain control in short order.
There was a time that I was quite smitten with Canadian banks, but their options were too thin to hold my interest. All the same, they are crumbling away, just like I predicted.
