Monday, February 23, 2015
A bit of news at the preopen, and a comment for Verdmont
Here's just a bit of reading:
New Deal Demoncrat - weekly indicators. Everything's generally still positive, quit piddling your frilly pink panties.
BI - investors sour on Canadian banks. There's already a big short interest in Canadian banks ahead of earnings, for probably exactly the reason the guys at Verdmont Capital gave a month ago. But I would like to note, yet again, that:
1) The shorts are generally white-ass honky crackers who don't know Canada;
2) If they did know Canada, they'd know that Canadian banks always have good earnings because they essentially own the government and can do as they please;
3) Honestly, do you really want to stay short on the crowded side of the boat with earnings around the corner?
It turns out you're not ahead of the herd, you're in the herd. Bad place to be.
If I were Verdmont, I'd close my Royal Bank short ASAP. It's done nothing since you called it on Jan 15th, and since then all the short selling hasn't pushed it lower.
In fact I might just buy a Canadian bank ETF today. ZEB.to has a 3.5% yield and its weekly chart looks just as amazing as this:
That sure looks like one hell of a buy point, not a sell point! January has a 3-candle negation, and now there's a big fight happening at the weekly SMA(50), Bollinger mean, and weekly EMA(12)!
Sorry, guys: you don't sell that chart, you buy it. Especially when a bunch of white-ass honky crackers are selling.
Thanks for giving me a good idea for a buy, guys. I was wondering what to do now that SPY, QQQ and Japan have all already taken off. I owe you one!
Talk all you want about skating with your head down, but any real Canadian will tell you it's more dangerous to get clobbered by Wendel Clark while admiring the pass you just made:
You gotta be a man to play this game!