Canadian Banks

Good spot for shorting.

Canadian Banks

EWC is the Canada ETF. Banks have been outperforming in recent years. In relative terms, RY has done best compared to EWC. CM is the most exposed to the housing market.

Here is residential home prices and RY on the same chart. Prices are down 20 percent from the February 2021 peak. Interesting that it peaked at the same time as ARKK and other speculative stocks.

Canadian Skanks

They took the plunge today. These were second-half trades I was saving for later. Hopefully a bounce for a good entry in late August or early September. CM is my top taregt for a housing bust, probably guaranteed if the central banker comments below are put into policy.

Another Trade Setup That Will Emerge

Short Australian and Canadian housing, via various proxies.