I don't know what it is, but something stinks at Wells Fargo (WFC). I'm sure it'll all look obvious in hindsight
Yes Wfc the worst of all of them . The massive credit card and mortgage loses coming for all the banks . Come Sept hell hits for a lot of co's. Thats when everything runs out . I'm sure Trump will desperately try to throw more money at co's as the election will be near
Above is a quote from Art Berman, prominent oil industry analyst dated May 6th. Yet WTI June contract is painting a fairly bullish chart with higher lows. ...and refuses to drop below $23. If you look hard enough, there is a bullish pennant being formed on the chart. Could this PA indicate the market awaiting an announcement from Trump to "save" the oil industry ?
I think demand finally is increasing last couple of days since more and more countries (partially) lift measures. In these countries it also becomes clear everyone that has an alternative chooses that over using public transport. So my guess is buyers are betting demand will pick up drastically from here on.
Yea, I'm standing clear of financials right now. They've been a favorite playground for me, but not no mo' until shit gets clearer. I hear those mortgage deferrals were quite popular