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.

So Far So Good on Cardboard Pizza

The puts on CM I mentioned are even cheaper today. The market is pricing on volatility, but it's cheap if I have the direction right.

Canadian Bank

The June 95 puts look good to me. The implied volatility is less than half of the corrolary KRE puts. CM is less volatile, but it trades like KRE at times. This is a bet that the financial sector sell-off goes global and CM's volatility converges with KRE.

Canadian Imperial Bank

Great topping pattern. If it doesn't retake the support line (zoomed in on third chart) then this will start accelerating to the downside.