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Look Who’s Got “The Shine” on Banks

 
   
     
   
 
MAY 02 2023
 
 
Look Who’s Got “The Shine” on Banks
   
DON YOCHAM
Banks Bleeding Out
 

Calling banks a ticking time bomb makes Don a dull boy.
Calling banks a ticking time bomb makes Don a dull boy.
Calling banks a ticking time bomb makes Don a dull boy.
Regional bank stocks painted the tape a sea of red today.
 
 
It’s frankly impossible to say exactly what opened the floodgates. But at the time of this writing, the KBW Nasdaq Regional Banking Ind (^KRX) was down over 6.5%.
 
 
PacWest Bancorp (PACW) led the way, lopping 25% of its share price. But Western Alliance Bancorporation (WAL) and Metropolitan Bank Holding Corp. (MCB) were not far behind.

Even diversified “Too Big to Fail” banks took it on the chin.

Just yesterday I said that name would be put to the test as the entire banking system (including the Federal Reserve bank) is permanently impaired.

Earlier this month I suggested that bank failures are merely a prelude for major economic turmoil in the months ahead.

And last month I pointed out how unsalvageable this whole banking fiasco will turn out to be, ultimately kicking open The Back Door to Centralized Banking. 

Maybe I got “the Shine” when it comes to systemic global financial collapse…

In any case, however bad it gets, banks are clearly bleeding out. And Scott Welsh, Garrett Baldwin, and Jack Carter will join me for tomorrow’s “Roundtable” to discuss the implications.

We’ll cover lots of other topics too, of course. Including the implications of the IMF’s lowered estimate on global growth, the Fed’s rate decision due tomorrow afternoon, and the looming debt ceiling.

Plus, Scott will share a simple indicator that has predicted every bear market turn.

Join us at 11am ET, right here.
 
Take What the Markets Give You.
 
 
JEFFRY TURNMIRE’S MORNING MONSTER 🎥
FOMC Decision Stirring the Pot
 
 
 

The FOMC’s rate decision is due tomorrow. Earnings are still pouring in. Bank’s are tanking again. Plus, the debt ceiling is suddenly relevant.

There’s plenty to shake markets this week. So get ahead of tomorrow’s big movers and join me for  “30 Minutes of Awesome” tonight.

It starts promptly at 5pm ET.

See you there.

Jeffry
SCOTT WELSH
Red Light, Green Light
 

Trading around a Fed announcement is usually tricky business.

And lately, that’s been especially true.

While what the Fed does always matters, in recent months every single syllable uttered from Fed Chairman Powell has been global news.

Stock traders desperately want the rate-raising to end. 

Because if it does end, it’s all-systems-go.

Pausing or lowering rates is the green light. 

But there’s a lot going on right now. 

The economy is slowing down and a recession looks like it’s coming. That ultimately is not good for companies, which is also not good for stocks. 

If the Fed stops raising rates (hooray!), what does that mean?

It means the economy is struggling (boo!). 

Even if the market gets what it wants, it’s not great. 

And this is why the market’s been in such a constrictive channel. With the SPDR S&P 500 ETF Trust (SPY) as a proxy, if the market gets bullish, it stops and turns around at $416 level. There just isn’t enough good news to push it through.
 
 
And being rejected again today at $416 plus the Fed saying it’s still raising rates, that’s a red light. 

Overall, it’s been eight months of start and stop for the market. 

Red light, green light, red light, green light.

But if somehow the Fed delights tomorrow and we see a break above that magic $416 level, it could lead to a very bullish move. 

Like everyone else, we’ll be watching closely. 

Happy trading,

Scott
TOM BUSBY
Special Training Event Tonight at 8 (Fed Buster Trade Revealed)
 

You know how highly I value education for traders.

So I couldn’t be more excited to share that tonight, at 8pm ET, two of my friends, Celeste Lindman and Jeffry Turnmire – trading minds I highly respect – are going LIVE with a special workshop ahead of tomorrow’s Fed meeting.

Not only will you be able to get all your questions answered, but they’ll also cover:
 
• A full review of the market
• How long extreme volatility will be at play
• Key levels to watch on multiple stocks
• How to measure volatility AND take advantage of it

And as an added bonus, they’ll dive deep into Jeffry’s “Fed Buster” 60 minute trade.

With this technique, in one of his best trades ever, he was able to lasso a massive 475% gain in 34 minutes on a recent Federal Reserve day.

Of course that outsized return might not be repeatable, but they’re going to teach you the exact setup that made it possible on a recent Fed day.

So sign up for their special training here.

It’s going to be a ton of education that you don’t want to miss.

TBUZ

The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 1/3/2022 through 3/27/2023 the average return is 16% per trade (winners and losers) with a win rate of 61%. The average winner is 79.8% over a 54 minute holding time. The annualized rate of return is 383%.
   
 
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