Wed May 3 2023
With every assurance from Jamie Dimon and Janet Yellen that the fix is in, the KRE drops further already down 33% in three months.
The top candidate for the next bailout is here
Yes this is a Beverly Hills bank with branches all over the southern half of the Peoples Republic of California. It is now trading for less than its original public offering price.
Here is the big picture, notice how KRE is already closing in on the covid low. And this index is just over a year into its own bear market., note weekly chart.
Cullen Frost is the best regional bank I know of, it is down 37% in the same period.
CFR is testing its 200 week moving average a break of this level will bring much lower prices.
In fact it closed under the 200 week MA today.
How any big banks are there to rescue failing smaller banks?
CIti has wave one down, two up and now is starting number three down. It is doubtful Janet will have enough credit to induce the big four banks to continue to rescue the ones she and her cronies have failed to regulate. '
I apologized for being too bullish on crude oil. It is reaching our first objective of 66 in a hurry.
after a fabulous rally and making more money that God ccording to Joe Biden, even XOM is falling
While everyone has worried about inflation the root cause of all recessions depressions is that the collateral for loans fails.
Commercial real estate is the first casualty this time. The drop in crude oil prices is forecasting a lack of demand this is the freight recession J B Hunt is describing.
REITs Here is that same one down two up we see in bank stocks
A few shares of this real estate bear fund might be a good idea.
This is he opposite pattern of banks and real estate, just where we need to be.
HDGE is bear fund, the black line is SPX notice HDGE is the opposite this is where we want to be in HDGE
We have been telling you this is a bear market since early 2022. We have three of the four largest bank failures in two months, as usual the government is lying to eveyrone that the crisis is past indeed it is just beginning.
Take action, do not delay, the correction from last October is ending, the next wave down is beginning.
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