price will break out of this symmetrical wedge sometime within the next hour. no clue on the way it goes, but I wouldn't be shocked to see traps show up, especially during the slow time. I think sustained momentum over 4149 on ES is needed for longs.

Haven't yet. I don't think we're done with bank failures yet either, but I also don't believe KRE will be crushed much more. I am thinking we may not be at the bottom of KRE yet, but we could be pretty close.

Also, not gonna lie, Thursday was a bit unnerving with the WAL naked put, but at the same time that the story broke that Western Alliance was looking for a buyer, I immediately thought something didn't smell right with the article based on my research into that bank.

Heineken-Ashi said:

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fightintxag13 said:

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Just curious on what the general thoughts are of this group on entering a long term position in KRE in an IRA account. Are banks done bleeding with rates having likely topped, or being another 25 points from topping? Would it be better to identify individual banks that have been beaten down but are fundamentally solid and buy them?

I've already swung WAL once and am working on re-entering with naked puts. I just got assigned TFC shares last Friday.

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Let me just make sure you understand your own question by asking you a couple of questions.

1. Are regional banks healthy?
2. Is the dollar healthy?
3. Is our economy healthy enough that regional banks will get back to receiving deposits and lending money similar to the way they were before COVID?
4. With all of the potential avenues for investment that were beat down in 2022 and 2023, is this the one you think is best for a long term hold? If so, why?

If you answer to #1 is yes, can you explain why you believe that?

In my opinion, regional banking should ne for short term swings only until rates are either significantly lower or GDP is significantly higher with asset valuations matching growth in GDP and not devaluation of currency.

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1. They're not the healthiest, but with the change in language regarding future rate hikes from the Fed last week, they have just about reached max risk level when it comes to covering bond losses.

2. Not currently.

3 and 4 can be summed up with the same answer for me...the banks will recover as the economy recovers. Do I think the bottom is in for the market? Absolutely not, however of the potential avenues for investment that were beat down in '22 and '23, how many of them are done being beat down? I feel confident that tech isn't done. Retail dang sure isn't. Construction and materials? Not yet.

I'm probably early asking my initial question about an entry, as I think the buying window is probably is just beginning to open. I think there will be a buying window potentially into Q4.

FTAG 2000 said:

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I think you're playing with massive fire if you're trying to long KRE.

It absolutely can go lower, especially if we have more bank failures (inevitable IMO). The 08-09 failures took KRE all the way down to the $14 range.



Unrelated, but go NNOX go!

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Do you believe this banking crisis is potentially at the same level of severity as 08-09? If so, please explain.

My SCHW just turned red, not concerned yet, but tbh I'm tempted to sell off the last of my TQQQ to buy more.

I know there's concern but I just don't see it failing, plus the fact that it's not just a bank but an investment firm. Not sure I understand today's dip.

I did. I don't think it will fail.

fightintxag13 said:

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FTAG 2000 said:

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I think you're playing with massive fire if you're trying to long KRE.

It absolutely can go lower, especially if we have more bank failures (inevitable IMO). The 08-09 failures took KRE all the way down to the $14 range.



Unrelated, but go NNOX go!

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Do you believe this banking crisis is potentially at the same level of severity as 08-09? If so, please explain.

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I think it's got the potential to be worse.

No guarantees, but I sure wouldn't be longing anything in that space. Maybe day trade so you can move in and out, and not be impacted by something that happens after hours.

But longing in a retirement account?

I think I would only invest in the megas like JPM if I were going that route.

This is really really slow action.

That open price again!!

Bought a bit of Lucid on those posts earlier today. About 5% up, so thanks. Just playing shares.

Going to try long here

Who shot J.R.?

Oof that is a bad candle, did some new drop or something?

Holy smokes!

$30,000 Millionaire said:

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Going to try long here

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Those were some brutal red candles. What the heck just happened?

https://finance.yahoo.com/news/chicago-feds-goolsbee-credit-squeeze-is-beginning-170841489.html

maybe?

Stopped. Paper cut.

I bought 413Cs for .10. I mean, why not?

bulls dropped ball basically.

I may try again here.

Would that have been what people call a stop loss raid? We've already reclaimed the downs

These candles are crazy.

Boy Named Sue said:

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I bought 413Cs for .10. I mean, why not?

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Good call

Yeah shoulda bought more than 10 contracts

100 contracts?! Bold move in that environment, but congrats!

Now, when do we sell???

Sure the hedge funds just devoured premiums today.

You should have been out already. Wait more for last 30

Hard to read action for lottos