Silicon Valley Spanked Shares

I posted a bunch of times on the formerly named Silicon Valley Bancshares. It collapsed this morning. I wasn't in the trade at the time, haven't messed with SIVB in awhile, but I expected it would evenutally makes its way lower because it is at the crossroads of technology and banking. Fitting that today's plunge comes hours after Silvergate (SI) announced it would liquidate, a stock I said could fall 80 percent a year ago. SBNY was another target that has recently come in for a pummeling.

SVB Financial stock plummets toward biggest one-day selloff in 23 years after stock offering, large losses on securities sales I'm going to keep digging in a post more over at the Substack later.

Crypto Complex Breakdowns

I saw that the average stock in the market is down 38 percent from their high. Well, take a stock like SI. it is down 56 percent as of today. It still has an 80 percent drop ahead of it because the entire bubble will be reversed. The even better good news for bears is that the major indexes are still relatively high and VIX is still low.