People like myself have made a sh1t ton of money off the banking sector over the last few days - and looks like could be making a whole lot more soon.
Those in here saying that SIVB was an isolated event have been proven to be wrong with the 3rd biggest bank fail in history now coming to fruition over the past day or so.
Now go take a look at First Republic Bank - it's currently down around 60% today alone - that doesn't look like things are very isolated.
Fed apparently stepped in to save banks but take a look at the US banking sector today, it's getting absolutely hammered - again!
Now the Fed is caught in a bit of a pickle cause if they keep hiking they will really break the banking system but if they take their foot off the pedal and cut rates they will spur inflationary pressure that is already too hot for most households to handle.
At the end of the day mate I didn't need to work in banking with stress testing as my specialty to see the US banking sector was over-stressed.
Afaik I was the only one that called the US banks to be setting up for a big sell event a couple of weeks ago - after a green night in the US and for most banks!
Didn't see a single other person on HC or twitter or anywhere talk about what was happening with the price action across US banks - funny that CBA started its heavy sell the very next session; after a green lead from the US!
Or if you really wanted some gifts then you could have followed my posts last night on XJO thread.
I don't normally post as I'm live trading but gave a couple of signals just
before they happened that would have netted you over a hundred points in pretty quick time if you acted.
Unlike people like yourself, that wait out the weekend until CBA turned green to respond to my post telling me you'd bought on Friday.
Unfortunately you still didn't recognise the difference between shorts closing than meaningful buying.
I tried to explain this to you on Sunday night and even gave an example of JPM after the 2.5% rally on Friday.
And wouldn't you know it, barely a share traded above the key level I outlined in that post and JPM is down around 1.8% as I write this.
These are all things posted
before they happen.
Is this the GFC 2.0?
I don't know and tbh I don't really care.
I'm sitting in all cash with my only positions in the market being options and they are all looking pretty sweet rn and all other trades aren't held overnight.
Can we learn some lessons from trade patterns around the GFC?
I happen to think so but what would I know, I'm just a mug punter that reads tea leaves from time to time...
FWIW - Have included the daily chart for First Republic bank below.
It shows Friday's 'incident' is far from isolated and shows just how well insiders been distributing to the masses well ahead of time - in other words they knew this was coming and they aren't SIVB...
FRC Daily
.
.
(20min delay)