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BofA Warns Euro Bank Stocks Are Rolling Over, "Negative For All Risk Assets"
Despite the recent significant weakness in the broader European and US equity indices, European bank stocks are only just beginning to resume their larger downtrend (as the hopes of a Draghi put remained firm until the last few days of BES debacle). As such, BofA's Macenil Curry believes, they are likely to be the catalyst for the next leg of "risk off" and in that environment EURUSD should continue to suffer.
Via BofAML,
Chart of the week: European bank stocks are rolling over
European bank stocks are resuming their downtrend. The 6 month topping formation (Head and Shoulders Top) points to further downside in the sessions and weeks ahead.
Downside targets seen to 130.52/126.83 (approximately 8%/11% lower from current levels) before renewed basing.
Stay bearish EURUSD
While intra-day and daily charts say that €/$ risks a further corrective squeeze higher, bounces must be sold.
The combination of vulnerable European bank stocks and poor price action say that €/$ should continue lower to 1.3104 and below.
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Tylers, give him a perma-ban
Just want to get on topic and add my friend Kyle Bass is short all European Banks. If you can't legally shoot a banker, you might as well make money off their demise.
"He" is a spammer using multiple account names, but it should be possible to create a "Rule" which automatically sends to junk by entering the text of the message, which is always the same.
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Ask for her ping pong ball trick- not to be missed!
Hey, honey, how you doing?
Ever seen her "shoot" darts?
Damnest thing I've watched yet.
Your sister's friend's ass must be plenty sore.
Not to mention the cousinwife's...
And again I say your full of shit!next you tell me i can stay at home and jerk off and get paid for it. Zero should charge you to advertise when you need a cell next to Madoff. My Dad till tell me a sucker born every minute though
maybe it's not quite 'staying home and jerking off' but while I was an undergrad a sperm bank would post on campus offering to pay for 'contributions'. apparently you can sell your genetic material at a premium in places where even at 2 st.devs. IQs all fall in the 'gifted' range.
it may not be 'buying brain power' but it certainly increases the probability that your progeny will be among the brightest children in any environment.
Sperm Banks have been replaced by Cum Dumpsters.
they have infested the pubs here in California. met 1 so drunk last night she literally dumped her drink down her shirt trying to convince me to show her my place while attempting to drink at the same time. self-respect is the 1st thing CDs lose, coordination the 2nd.
GO AWAY!!!
Ah don't believe in Euro-Peons. I aint never seen one.
I am one, shame you can't see me.
Good thing that Land, PM, Diamonds or Art aren't targeted as manipulated risk assets.
Yikes, I got myself a Junk Stalker. Shall I play Misty for you?
I suggest you contact me to address/resolve our differences, or agree that "Same to you, the feeling's mutual".
Hey, Captain, I have legions of junkers too.
Out damn spot!
Land will just be confiscated by Obama when he declares marshall law and he takes it all. My precious metals are in the ground and good luck getting me to say where when they ask for it.
I'm certain that Argentina defaulting and Banco Espirito Santo going tits up have nothing to do with this.
*cough*
Beer....and I'm goin to yellowstone next week....What could go wrong?
Massive vulcano eruption ?
Grab a beer, some popcorn, a comfy chair and sit down and relax. You have a front row seat to the greatest clusterfuck the world has ever known. The show will start shortly. Enjoy!
+1....caption obvious....You enjoy also
And what about US Bank Stocks?
Hmm.
If you draw that channel 20-30 years back it looks bullish. /sarc
There's only one way to trade this ponzi. "price action". I use 1-3-5 minute charts ad nauseum,(intraday) BUT, because of lack of volatility, find myself reverting to longer (H-4 & Daily) timeframes to make sense of things.
Channels and trend/lines are generally overshot, which makes traders overshoot their intended entry points. Trading isn't easy and requires a lot of due-diligence.
The "buy" and "sell side" each have their own theories, but "ultimately" have to cover their market making positions.
Play Chess or nuclear....What?
Do you think he's right on cable YC ?
Last time he pronounced it went the other way.
I'm long Cable Winston. (late Thursday) The retrace/
Ultimately, Cable has a date with the 200day average, and then much lower.I told you guys when things start to fall apart the Cable was going get "nail gunned". 75.00% of the British economy is service based.
BofA should use this instead of their euro stoxx index, maybe they would not be so late to the game in seeing where this is going
http://finance.yahoo.com/q/bc?s=DB+Basic+Chart&t=1y
good read btw Y/C
http://www.minyanville.com/trading-and-investing/fixed-income/articles/p...
Thanks for thinking of me Fonz. A good man you are. ;-)
I've read comments from these bloggers in the past Fonz. They seem to be up & up with their statistics. I'm curious what Hambone thinks about those figures?
The primary axiom that differentiates the Federal Reserve from The Bank of Japan is "reserve status".
When you gentlemen compare the JGB to treasury holdings, I get really concerned... Japan is US #2 and nothing more.
Japan has no resources, armies, or arable land/ Contrary to popular belief i-Pads aren't edible.
Kill the middle class....Now take away the guns...I dare you
Have fun in Texas
You could nuke us first.....that wouldn't be much fun
Nukes (other than neutrons) don't leave the infrastructure and natural resources useable.
Bio & chem is where it's at, dawg. Especially bio.
Hmm, better add gas masks to my Bug-In kit. Everclear for sanitizing stuff too.
Masks are a pain in our clime DoChen.
Everclear makes a mean molotov.
I drop everything when the Bank of Assholes and Murdering Lice says. . . .
No, you are too kind by far.
Me thinks the Dip Buyers are soon to shite the bed.
I'm long on Ebola. Trend is up on all timeframes.
The Russians are gonna flood the market with product folks. Gold, silver, copper, tin, lumber, nautural gas, oil, uranium...you name it.
Simply put the current pricing structure in the ENTIRETY of the commodity complex cannot be sustained. I wish the trucking business well...but when you have to compete against thousand foot long ore ships, well, simply put "that just ain't fair."
If Donetsk falls that's the Donbass coal region...second only to the USA in potential output. That would be a devastating blow to Putin's regime and simply put "might attract the interest of an entire English Army with the Prince of Wales leading the attack."
Hanover is one thing, Bellorusia quite another.
Bank of America thinks they see things when they can't even see themselves.
Why not rate the risk of your own company?