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).
Subsidized Surge
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.
Bank On It
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.
The Great Red North
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.
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The Spank Bank
Fit to Be Tied
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:
