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U.S. officials assessing possible 'manipulation' on banking shares - source
https://finance.yahoo.com/news/exclusive-u-officials-assessing-possible-181840774.html
MAYBE ? but for now its recovering well
despite the madness
As a trader you have no choice but to join the big guys who are relentless in shorting Bank stocks.
Gary Gensler former Goldman Sachs executive in bed with hedge funds? and Goldman Sachs and JP Morgan who make a majority of there money by illegally naked shorting stocks and paying fines?
Patrick Byrne
@PatrickByrne
At the core of the business model of Goldman Sachs is a crime. It creates 75% of their prime brokerage revenue. And every several years, when they get caught, they pay a tiny parking ticket.
?
Genevieve Roch-Decter, CFA
@GRDecter
·
Apr 4
Goldman was just fined $3 million for "mistakenly" marking short sales as longs
It allowed the firm to short millions of shares while short sale circuit breakers were in effect, over a period of 3 years(3 whole years!!)
So Goldman breaks the rules, profits, and then FINRA… Show more
?
At the core of the business model of Goldman Sachs is a crime. It creates 75% of their prime brokerage revenue. And every several years, when they get caught, they pay a tiny parking ticket. https://t.co/VRQT2INZBU
— Patrick Byrne (@PatrickByrne) April 5, 2023
Hedge funds make $7bn from betting against banks during turmoil https://t.co/ZZZY21gkZH
— Financial Times (@FT) April 5, 2023
The next stage of the #bankingcrisis showed up today, too, along w/bad steepening. Banks accusing the media of scandalously aiding "short sellers." Officials desperate to present a benign explanation for systemic events spiraling out of control.
The next stage of the #bankingcrisis showed up today, too, along w/bad steepening. Banks accusing the media of scandalously aiding "short sellers." Officials desperate to present a benign explanation for systemic events spiraling out of control. https://t.co/4F92FusbvU pic.twitter.com/QVaO0Boqf0
— Jeffrey P. Snider (@JeffSnider_EDU) May 5, 2023
The banking system is sound and resilient. Ummm okay... pic.twitter.com/F6iTBQ5tVL
— Steven Van Metre - AI 👑 (@MetreSteven) May 4, 2023
WAL will be the next FRC, JPM will swallow this one in the next few weeks. IMO
WAL Western Alliance Says ‘No Truth’ to Report of Deal Talks
https://finance.yahoo.com/news/western-alliance-says-no-truth-150903706.html
Lol…Short Sellers Cratered Silvergate Bank and First Republic; They’re Now Targeting PacWest and Numerous Other Regional Banks
By Pam Martens and Russ Martens: May 3, 2023 ~
President Joe Biden is putting the national security of the United States at risk by not suspending the short-selling of federally-insured banks. Concerns over the safety and soundness of the U.S. financial system could cause money flight out of the U.S., impacting the strength of the U.S. dollar and a loss of confidence by our foreign allies.
This is also a matter that impacts the financial lives of every American, because every American – rich, poor or middle class – will suffer the consequences in terms of ability to access bank credit and higher fees on that credit as a result of rebuilding the rapidly depleting federal Deposit Insurance Fund that protects bank deposits.
The second, third and fourth largest bank failures in the history of the U.S. have now occurred in the span of seven weeks (First Republic Bank, Silicon Valley Bank and Signature Bank, respectively) with the Federal Deposit Insurance Corporation (FDIC) taking big hits in each case to its Deposit Insurance Fund.
At the time of First Republic Bank’s failure on Monday (with JPMorgan Chase given a very sweet deal by the FDIC to buy its underwater assets and take over the deposits that hadn’t yet fled), it was one of the most heavily shorted bank stocks with one-third of its outstanding shares shorted as of one week before it failed, according to a report from Reuters.
First Republic Bank was not a small bank. At the time of its demise, it had $207.5 billion in assets. According to a statement from the FDIC on Monday, it “estimates that the cost to the Deposit Insurance Fund will be about $13 billion. This is an estimate and the final cost will be determined when the FDIC terminates the receivership.”
The FDIC estimated the cost to the Deposit Insurance Fund in the failure of Silicon Valley Bank to be $20 billion, and the cost to the DIF in the failure of Signature Bank to be $2.5 billion.
All of these FDIC estimates seem very optimistic but even if they are accurate, that’s a combined hit thus far of $35.5 billion to a Deposit Insurance Fund that had just $128.2 billion as of December 31, 2022.
On April 18 – prior to the failure of First Republic Bank – the FDIC released the following statement:
“The Federal Deposit Insurance Act (FDI Act) requires that the FDIC’s Board of Directors adopt a restoration plan when the Fund’s reserves fall below 1.35 percent of all insured deposits held in FDIC-insured financial institutions. Extraordinary deposit growth during the first and second quarters of 2020 caused the Fund’s reserve ratio to decline below this statutory minimum. On September 15, 2020, the FDIC established a plan to restore the Fund’s reserves to at least 1.35 percent by September 30, 2028, while maintaining the assessment rate schedule in place at the time.”
In short, assessments on banks to restore the Deposit Insurance Fund are going to be going up as a result of these bank failures and attendant losses – which mean that banks are going to be passing those increased costs along to their customers. If more banks fail, those costs will rise exponentially, putting aside the more critical issue of loss of confidence in the U.S. banking system.
This is not some abstract theory. The newest target of the short sellers is PacWest Bancorp (ticker PACW). According to S&P Global Market Intelligence, as of March 31, 20.6 percent of PacWest’s shares outstanding were sold short, making it the third largest shorted bank stock at that point. (The bank stock with the largest percentage of shares shorted on March 31 was Silvergate Bank, which became an easy target of short sellers because it had entangled itself with crypto companies, including Sam Bankman-Fried’s house of frauds, FTX and Alameda Research. Silvergate wound itself down voluntarily by the end of the first quarter. The second largest short position in a bank as of March 31 was in First Republic Bank, which failed on Monday.)
PacWest Bancorp is showing similar distress. PacWest’s stock has lost 71 percent year-to-date. On Monday and Tuesday of this week, the stock has gone from a closing price of $10.15 on Friday to $6.55 at the close on Tuesday – a stunning collapse of 35 percent in just two trading sessions.
Other banks that are targets of short sellers that have seen outsized year-to-date losses in share price include Western Alliance, Comerica, Zions Bank, Republic First Bancorp (no relation to First Republic Bank other than similarity of its name, which may be why short sellers have piled on). Those stocks are down anywhere from 45 to 60 percent year-to-date versus a decline of 27 percent in the regional bank index (ticker KRX). See chart above.
The longer President Biden waits to sign an executive order suspending short sales in federally-insured banks, the faster the contagion will spread to other banks.
Editor’s Note: We believe that, in general, short sellers perform a critical role in U.S. markets – calling attention to corporate corruption and fraud that has been missed by regulators and the media. But the rapidly deteriorating condition of U.S. banks is a function of the unprecedented span of time that the Fed kept interest rates at the zero interest level, forcing banks to make fixed-rate mortgage loans at 3, 4 and 5 percent interest in order to remain competitive. Those loans and their related mortgage-backed securities are now underwater as a result of the Fed raising rates faster than at any time in the last 40 years. Exceptional times call for exceptional actions. President Biden needs to step up to the plate.
https://wallstreetonparade.com/2023/05/short-sellers-cratered-silvergate-bank-and-first-republic-theyre-now-targeting-pacwest-and-numerous-other-regional-banks/
Marker: After hours trading
WAL
$20.0301 -10.8999 (-35.24%)
Volume: 14,272,932
*Fed raised interest rates yet again today .25% to 5.25%
.
TRUE only the strong will survive.
WAL and PACW are running side by side. percentage wise. FRC brought PACW from $12. PACW and WAL at a discount here.
This is good bottom.IMOP
SchiffGold.com,
The failure of First Republic Bank reveals that the banking system isn’t nearly as sound as Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell would have us believe. But as Peter explained in a recent podcast, it’s not just the banking system that’s messed up. The Fed has screwed up everything that is a function of interest rates by keeping rates at zero for so long.
First Republic was the third major bank failure this year and the biggest bank to collapse since the 2008 financial crisis. It was the second-largest bank by assets to fail in US history. Peter said the whole banking system is a house of cards that is now collapsing one card at a time.
We’re still in the early days of the 2023 financial crisis.”
Of course, the mainstream media remains reluctant to call it a financial crisis. But if not, what is it?
Banks keep failing. Aren’t banks financial institutions? But no, they don’t want to do it because they don’t want to evoke the memory of 2008. They don’t want anyone to think that what we’re experiencing is another 2008. Now, in a way they’re right, because it’s not another 2008. It’s going to be way worse than 2008. But it is a financial crisis.”
And Peter said it’s not just banks.
The Fed screwed up everything that is a function of interest rates. Anything that is rate-sensitive is all screwed up because rates were so low for so long.”
This includes the auto market and the housing market.
Fed monetary policy also facilitated massive government budget deficits.
How are we able to sustain a $31.7 trillion national debt? It’s because interest rates were so low. If the Federal Reserve had not kept interest rates at zero for so long, had interest rates reflected the appropriate price of money that a free market would set, there is no way the government could have gotten away with this. Government could not be this big. Government could not have spent all this money because it couldn’t have afforded to pay the interest on the debt.”
Now that the Fed has let rates go up, everything that was built on a foundation of zero percent crashes – including the government.
The government is going to come crashing down if the Fed holds the line on fighting inflation. … We can’t have these deficits and normal interest rates to fight inflation. So, the government is going to be forced to downsize dramatically, make big cuts in government spending, if the Fed is going to continue to fight inflation and keep rates up, which I don’t think it’s going to do.”
Peter said he thinks the Fed is going to reverse course to keep banks from failing, stop the auto industry from imploding, save the housing market, and prop up the government.
And then there is corporate America, which has also levered up thanks to easy money.
What’s going to happen over the next year or two as all this cheap money that they borrowed to buy back their overpriced stock comes due? What about all of the junk bonds that are out there?”
We’re already starting to see bankruptcies. Bed Bath and Beyond recently filed Chapter 11. In fact, there have been 70 major bankruptcies already in 2023. It’s the third-worst start to a year ever. That compares with 71 bankruptcies in the early part of 2020 when governments shut down the economy for COVID. The only other year that was worse was 2009, in the depths of the Great Recession.
In this podcast, Peter also talks about the first quarter GDP data, noting that economic growth is slowing down even as inflation is picking up speed.
"The whole banking system is a house of cards that is now collapsing one card at a time."
Peter Schiff
Fractional Reserves. Insolvency. Am I allowed to say these things about our banks on this platform?
Marker:
WAL
$30.7399 -5.7001 (-15.64%)
Volume: 25,857,218
*Contagion has only begun.
.
ZION and PACW on watch!
FAL is now on caution watch.
Marker:
$36.61 -0.51 (-1.37%)
Volume: 1,885,297
Now Schwab is showing TRADING HALTED.
Don't know what is going on with Schwab ,BUT, they have WAL UP $12.11. Hope it is true, will see in the morning.
Also, have FRC UP $90.94
WOW if it is true.
Just keep in mine that with the increase in O/S there is a VERY good chance of an R/S after things settle down.
Anyone interested in another trade - keep an eye on FRC.
Why the Bank Crisis is Not Over
The crashes of Silvergate, Silicon Valley Bank, Signature Bank and the related bank insolvencies are much more serious than the 2008-09 crash. The problem at that time was crooked banks making bad mortgage loans. Debtors were unable to pay and were defaulting, and it turned out that the real estate that they had pledged as collateral was fraudulently overvalued, “mark-to-fantasy” junk mortgages made by false valuations of the property’s actual market price and the borrower’s income. Banks sold these loans to institutional buyers such as pension funds, German savings banks and other gullible buyers who had drunk Alan Greenspan’s neoliberal Kool Aid, believing that banks would not cheat them.
Silicon Valley Bank (SVB) investments had no such default risk. The Treasury always can pay, simply by printing money, and the prime long-term mortgages whose packages SVP bought also were solvent. The problem is the financial system itself, or rather, the corner into which the post-Obama Fed has painted the banking system. It cannot escape from its 13 years of Quantitative Easing without reversing the asset-price inflation and causing bonds, stocks and real estate to lower their market value.
In a nutshell, solving the illiquidity crisis of 2009 that saved the banks from losing money (at the cost of burdening the economy with enormous debts), paved away for the deeply systemic illiquidity crisis that is just now becoming clear. I cannot resist that I pointed out its basic dynamics in 2007 (Harpers) and in my 2015 book Killing the Host.
Accounting fictions vs. market reality
No risks of loan default existed for the investments in government securities or packaged long-term mortgages that SVB and other banks have bought. The problem is that the market valuation of these mortgages has fallen as a result of interest rates being jacked up. The interest yield on bonds and mortgages bought a few years ago is much lower than is available on new mortgages and new Treasury notes and bonds. When interest rates rise, these “old securities” fall in price so as to bring their yield to new buyers in line with the Fed’s rising interest rates.
A market valuation problem is not a fraud problem this time around.
The public has just discovered that the statistical picture that banks report about their assets and liabilities does not reflect market reality. Bank accountants are allowed to price their assets at “book value” based on the price that was paid to acquire them – without regard for what these investments are worth today. During the 14-year boom in prices for bonds, stocks and real estate this undervalued the actual gain that banks had made as the Fed lowered interest rates to inflate asset prices. But this Quantitative Easing (QE) ended in 2022 when the Fed began to tighten interest rates in order to slow down wage gains.
When interest rates rise and bond prices fall, stock prices tend to follow. But banks don’t have to mark down the market price of their assets to reflect this decline if they simply hold on to their bonds or packaged mortgages. They only have to reveal the loss in market value if depositors on balance withdraw their money and the bank actually has to sell these assets to raise the cash to pay their depositors.
That is what happened at Silicon Valley Bank. In fact, it has been a problem for the entire U.S. banking system. The following chart comes from Naked Capitalism, which has been following the banking crisis daily:
How SVP’s short-termism failed to see where the financial sector is heading
During the years of low interest rates, the U.S. banking system found that its monopoly power was too strong. It only had to pay depositors 0.1 or 0.2 percent on deposits. That was all that the Treasury was paying on short-term risk-free Treasury bills. So depositors had little alternative, but banks were charging much higher rates for their loans, mortgages and credit cards. And when the Covid crisis hit in 2020, corporations held back on new investments and flooded the banks with money that they were not spending.
The banks were able to make an arbitrage gain – obtaining higher rates from investments than they were paying for deposits – by buying longer-term securities. SVB bought long-term Treasury bonds. The margin wasn’t large – less than 2 percentage points. But it was the only safe “free money” around.
Last year Federal Reserve Chairman Powell announced that the central bank was going to raise interest rates in order to slow the wage growth that developed as the economy began to recover. That led most investors to realize that higher interest rates would lower the price of bonds – most steeply for the longest-term bonds. Most money managers avoided such price declines by moving their money into short-term Treasury bills or money-market funds, while real estate, bond and stock prices fell.
For some reason SVB did not make this obvious move. They kept their assets concentrated in long-term Treasury bonds and similar securities. As long as the bank did not have any net deposit withdrawals, it did not have to report this decline in the market value of its assets.
However, it was left holding the bag when Mr. Powell announced that not enough American workers were unemployed to hold down their wage gains, so he planned to raise interest rates even more than he had expected. He said that a serious recession was needed to keep wages low enough to keep U.S. corporate profits high, and hence their stock price.
This reversed the Obama bailout’s Quantitative Easing that steadily inflated asset prices for real estate, stocks and bonds. But the Fed has painted itself into a corner: If it restores the era of “normal” interest rates, that will reversed the 15-year run-up of asset-price gains for the FIRE sector.
This sudden shift on March 11-12 left SVB “sitting on an unrealized loss of close to $163bn – more than its equity base. Deposit outflows then started to crystallize this into a realized loss.” SVB was not alone. Banks across the country were losing deposits.
This was not a “run on the banks” resulting from fears of insolvency. It was because banks were strong enough monopolies to avoid sharing their rising earnings with their depositors. They were making soaring profits on the rates they charge borrowers and the rates yielded by their investments. But they continued to pay depositors only about 0.2%.
The U.S. Treasury was paying much more, and on Thursday, March 11, the 2-year Treasury note was yielding almost 5 percent. The widening gap between what investors can earn by buying risk-free Treasury securities and the pittance that banks were paying their depositors led the more well-to-do depositors to withdraw their money to earn a fairer market return elsewhere.
It would be wrong to think of this as a “bank run” – much less as a panic. The depositors were not irrational or falling subject to “the madness of crowds” in withdrawing their money. The banks simply were too selfish. And as customers withdrew their deposits, banks had to sell off their portfolio of securities – including the long-term securities held by SVB.
All this is part of the unwinding of the Obama bank bailouts and Quantitative Easing. The result of trying to return to more normal historic interest-rate levels is that on March 14, Moody’s rating agency cut the outlook for the U.S. banking system from stable to negative, citing the “rapidly changing operating environment.” What they are referring to is the plunge in the ability of bank reserves to cover what they owed to their depositors, who were withdrawing their money and forcing the banks to sell securities at a loss.
President Biden’s deceptive cover-up
President Biden is trying to confuse voters by assuring them that the “rescue” of uninsured wealthy SVB depositors is not a bailout. But of course it is a bailout. What he meant was that bank stockholders were not bailed out. But its large uninsured depositors who were saved from losing a single penny, despite the fact that they did not qualify for safety, and in fact had jointly talked among themselves and decided to jump ship and cause the bank collapse.
What Biden really meant was that this is not a taxpayer bailout. It does not involve money creation or a budget deficit, any more than the Fed’s $9 trillion in Quantitative Easing for the banks since 2008 has been money creation or increased the budget deficit. It is a balance-sheet exercise – technically a kind of “swap” with offsets of good Federal Reserve credit for “bad” bank securities pledged as collateral – way above current market pricing, to be sure. That is precisely what “rescued” the banks after 2009. Federal credit was created without taxation.
The banking system’s inherent tunnel vision
One may echo Queen Elizabeth II and ask, “Did nobody see this coming?” Where was the Federal Home Loan Bank that was supposed to regulate SVB? Where were the Federal Reserve examiners?
To answer that, one should look at just who the bank regulators and examiners are. They are vetted by the banks themselves, chosen for their denial that there is any inherently structural problem in our financial system. They are “true believers” that financial markets are self-correcting by “automatic stabilizers” and “common sense.”
Deregulatory corruption played a role in carefully selecting such tunnel-visioned regulators and examiners. SVB was overseen by the Federal Home Loan Bank (FHLB). The FHLB is notorious for regulatory capture by the banks who choose to operate under its supervision. Yet SVB’s business is not home-mortgage lending. It is lending to high-tech private equity entities being prepared for IPOs – to be issued at high prices, talked up, and then often left to fall in a pump and dump game. Bank officials or examiners who recognize this problem are disqualified from employment by being “over-qualified.”
Another political consideration is that Silicon Valley is a Democratic Party stronghold and rich source of campaign financing. The Biden Administration was not going to kill the goose that lays the golden eggs of campaign contributions. Of course it was going to bail out the bank and its private-capital customers. The financial sector is the core of Democratic Party support, and the party leadership is loyal to its supporters. As President Obama told the bankers who worried that he might follow through on his campaign promises to write down mortgage debts to realistic market valuations in order to enable exploited junk-mortgage clients to remain in their homes, “I’m the only one between you [the bankers visiting the White House] and the mob with the pitchforks,” that is, his characterization of voters who believed his “hope and change” patter talk.
Why the Banking System is Breaking Up
The Fed gets frightened and rolls back interest rates
On March 14 stock and bond prices soared. Margin buyers made a killing as they saw that the Administration’s plan is the usual one: to kick the bank problem down the road, flood the economy with bailouts (for the bankers, not for student debtors) until election day in November 2024.
The great question is thus whether interest rates can ever get back to a historic “normal” without turning the entire banking system into something like SVB. If the Fed really raises interest rates back to normal levels to slow wage growth, there must be a financial crash. To avoid this, the Fed must create an exponentially rising flow of Quantitative Easing.
The underlying problem is that interest-bearing debt grows exponentially, but the economy follows an S-curve and then turns down. And when the economy turns down – or is deliberately slowed down when labor’s wage rates tend to catch up with the price inflation caused by monopoly prices and U.S. anti-Russian sanctions that raise energy and food prices, the magnitude of financial claims on the economy exceeds the ability to pay.
That is the real financial crisis that the economy faces. It goes beyond banking. The entire economy is saddled with debt deflation, even in the face of Federal Reserve-backed asset-price inflation. So the great question – literally the “bottom line” – is how can the Fed maneuver its way out of the low-interest Quantitative Easing corner in which it has painted the U.S. economy? The longer it and whichever party is in power continues to save FIRE sector investors from taking a loss, the more violent the ultimate resolution must be.
Any bank has a problem of keeping its asset valuations higher than its deposit liabilities. When the Fed raises interest rates sharply enough to crash bond prices, the banking system’s asset structure weakens. That is the corner into which the Fed has painted the economy by QE.
The Fed recognizes this inherent problem, of course. That is why it avoided raising interest rates for so long – until the wage-earning bottom 99 Percent began to benefit by the recovery in employment. When wages began to recover, the Fed could not resist fighting the usual class war against labor. But in doing so, its policy has turned into a war against the banking system as well.
Silvergate was the first to go, but it was a special case. It had sought to ride the cryptocurrency wave by serving as a bank for various currencies. After SBF’s vast fraud was exposed, there was a run on cryptocurrencies. Investor/gamblers jumped ship. The crypto-managers had to pay by drawing down the deposits they had at Silverlake. It went under.
Silvergate’s failure destroyed the great illusion of cryptocurrency deposits. The popular impression was that crypto provided an alternative to commercial banks and “fiat currency.” But what could crypto funds invest in to back their coin purchases, if not bank deposits and government securities or private stocks and bonds? What is crypto, ultimately, if not simply a mutual fund with secrecy of ownership to protect money launderers?
Silicon Valley Bank also is in many ways a special case, given its specialized lending to IT startups. New Republic bank also has suffered a run, and it too is specialized, lending to wealthy depositors in the San Francisco and northern California area. But a bank run was being talked up last week, and financial markets were shaken up as bond prices declined when Fed Chairman Jerome Powell announced that he actually planned to raise interest rates even more than he earlier had targeted. Rising employment rates make wage earners more uppity in their demands to at least keep up with the inflation caused by the U.S. sanctions against Russian energy and food and the actions by monopolies to raise prices “to anticipate the coming inflation.” Wages have not kept pace with the resulting high inflation rates.
It looks like Silicon Valley Bank will have to liquidate its securities at a loss. Probably it will be taken over by a larger bank, but the entire financial system is being squeezed. Reuters reported on Friday that bank reserves at the Fed were plunging. That hardly is surprising, as banks are enjoying record interest rate spreads. No wonder well-to-do investors are running from the banks.
The obvious question is why the Fed doesn’t simply bail out banks in SVB’s position. The answer is that the lower prices for financial assets looks like the New Normal. For banks with negative equity, how can solvency be resolved without sharply reducing interest rates to restore the 15-year Zero Interest-Rate Policy (ZIRP)?
There is an even larger elephant in the room: derivatives. Volatility increased last Thursday and Friday. The turmoil has reached vast magnitudes beyond what characterized the 2008 crash of AIG and other speculators. Today, JP Morgan Chase and other New York banks have tens of trillions of dollar valuations of derivatives – casino bets on which way interest rates, bond prices, stock prices and other measures will change.
For every winning guess, there is a loser. When trillions of dollars are bet on, some bank trader is bound to wind up with a loss that can easily wipe out the bank’s entire net equity.
There is now a flight to “cash,” to a safe haven – something even better than cash: U.S. Treasury securities. Despite the talk of Republicans refusing to raise the debt ceiling, the Treasury can always print the money to pay its bondholders. It looks like the Treasury will become the new depository of choice for those who have the financial resources. Bank deposits will fall. And with them, bank holdings of reserves at the Fed.
So far, the stock market has resisted following the plunge in bond prices. My guess is that we will now see the Great Unwinding of the great Fictitious Capital boom of 2008-2015. So the chickens are coming hope to roost – with the “chicken” being, perhaps, the elephantine overhang of derivatives fueled by the post-2008 loosening of financial regulation and risk analysis.
https://michael-hudson.com/2023/03/why-the-banking-system-is-breaking-up/
Doesn't look like $CS will get any warm fuzzies without tapping up to $54B.
No fuel most likely.
$CS calming could add more fuel here.
Either way, this one has been epic!
Looks like I may have missed it. Don't think it will be going back down now.
I am hopefull I can get a few in the low 20s.
LOWEST I PAID TODAY 28.63 HIGHEST 28.20
JUST HIT $34'S THIS MARKET IS SO VOLATILE
GOTTA BE CAREFUL
this is jumping all over the place
to the window ....to the WAL
yep a BANK RUN to remember
GOOD CALL 28.88
Citadel.
Those boys are connected.
Very good sign.
Hold on boys and girls - I believe this is going to go back into the high $20s again before it goes into the $30s and stayes and then ease higher, back to that $80 something range.
Rich keep getting Richer. This was a planned Narrative to crash the bank stocks. Crash Treasury Yields and try to Blame it on the Fed lololololol. Congrats if you scored BIG!!! Inflation wrecking the Middle and Lower class. I hope it all crashed one day and burns to the ground.
$WAL: Boing boing boingggggggg......... back over $40 hear
We gonna have a greattttttttttttt day today.
Yesterday was one of the best buying opportunities of the YEAR !
GO $WAL
$WAL: Bottomed at $7.70 yesterday.......... now $31.50 !!!!!!!!!!!!!!!!
YAHhhhhhhhhhhoooooooooooooo....................... thats how youu make MONEY !!!!!!!!!!!!
You better than 4x bagged it !
GO $WAL
Congratulations to all those that took a trade around $7-$9 this morning!!
Makinzemoney, great eyes! I saw you calling this one early!
Glta
I need so much needed blessing
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