In case you've forgotten, back on January 15th we saw the following electrons winked out of existence forever:
Verdmont Capital - Royal Bank is a screaming short.
It spent a grand total of two days below the Jan 15th price. Yeah, it spent more time below on the US ticker, but only because CAD has gone down: your stated trade wasn't short-CAD, it was short-RY, so don't pull no US ticker crap with me.
And the pop today? Why did Royal Bank pop today?
Reeking Alpha - RBC beats and boosts dividend. Oh snap!
BNN - Royal Bank posts record profit and boosts dividend. OH SNAP!
Toronto Star - RBC income soars to $2.46 billion record in Q1. Aw geez, Blogger has banned flashing ASCII. I'm gonna need Gregory House's help with this:
Like I said, guys: the Canadian banks have always made money, all the time. And a drop in the price of oil ain't some scary new thing to us up here in the frigid backwater of Canada, y'know: in fact, we've lived through fishery collapses, lumber collapses, base metal and precious metal collapses too.
And yet our banks have always made money.
For your assigned homework: please ruminate on how market and stock analysis, if it leads you to take the same overcrowded position as the rest of the market, is guaranteed to be wrong and lose you a fortune.
And tomorrow you can close your shorts out with the rest of the honky white-ass cracker bitches.
Oh, and by the way:
In the time you've been short RY thinking you're all clever and shit, you could have made an easy 5.5% with SPY. Or 11% with HSU.to. The moral of this story? Maybe you should quit thinking, buy the SPY, and go away for ten years.
Like Mila Kunis.
In fact, I'll give you a motivational poster than you can print out and tack up beside your computer so that you don't do anything silly like shorting Canadian banks ever again, ok?
|click for an even larger Mila Kunis, which will be yet even more smarterer than you|
UPDATE: Geez, Verdmont guys! How many times do you have to come back to this post? Hasn't it sunk in yet? Close your Royal Bank short!