Well, kinda. They’ve come in and scooped up a good chunk of Silicon Valley Bank’s assets. Roughly $72 Billion of their assets were purchased at a steep discount, only paying $16.5 Billion which sent shares of First Citizens soaring 45% during yesterday’s trading. This transpired after regulators transferred all SVB deposits and assets into a…
Oil sunk to levels that are leaving traders wondering two things: Will OPEC implement further cuts to raise prices? Will the United States finally move to purchase some crude to refill its drained reserves? Traders who have been brutalized by falling prices over the last couple of weeks were likely disappointed this week when they…
When it comes to the economy, confidence is key. However, the banking sector has threatened to disrupt how most folks feel about their financial stability. A decline in spending slows retail sales and that, in turn, triggers a market reaction that spills back onto consumers. At the same time, inflation-adjusted income is going down, interest…
The Fed’s decision to hike rates by a quarter percentage point leads to two schools of thought… Inflation is easing and they’re going to taper rate increases. They’re scared to death that raising rates will lead to further financial collapse. I’m leaning towards numero dos — they’re trying to prevent mass hysteria. The Federal Reserve…
The “G” to the rescue … God help us! Treasury Secretary Janet Yellen said Tuesday the government is ready to provide further guarantees of deposits if the banking crisis worsens. “The steps we took were not focused on aiding specific banks or classes of banks. Our intervention was necessary to protect the broader U.S. banking…
It’s been quite obvious over the last few weeks that crude was looking for a direction. It has been trading in a pendant shaped, tightening range, and in that situation any breakout beyond the initial support or resistance usually proves to be significant. That is not because of any technical signal, but rather because a…
Oil market sentiment has never been more fragile, the price action traded this past week takes me back to the cusp of the Covid-19 collapse. Geopolitical tensions have the power to move the energy markets violently, but the real impact on supply and demand remains elusive, the markets hold much more immediate sway. What started…
Most traders are so caught up in the excitement of trading, they forget to look at the bigger picture. For the most part this isn’t their fault. In fact, society as a whole does the exact same thing by design. The most successful people I know leveraged their most important asset . . . TIME.…
The bubble is bursting and the knife is falling. For most, it’s best to sidestep this. For me and my traders, volatility = opportunity! As far as the Saudis are concerned, they’re seeing the cracks in the financial system, and they’re looking to steer clear of any more exposure than what is absolutely necessary. Shares…
I sure didn’t, at least not at my Main Street day job. In fact, since Covid happened I can tell you my day job income has significantly diminished. Why? Because EVERYTHING has gotten too expensive, too quickly. The consumer price index rose 0.4% in February and 6% from a year ago, which was in line…
