Regional Banks Most Oversold Since June of 2016

Will the mean reversion magic kick in? Only time will tell. For now, I’ll leave you with the visuals and the fact that FAS flagged oversold last week in Exodus.

The Northeast regionals are the most oversold since June 24th of 2016.

The stats for FAS oversold are impressive, 12 up 1 down over the past 12 months.

NE regionals include STT, MTB, CFG, SBNY and others.

This isn’t a question of guilt or innocence, for the council of elders at iBC have already ascertained the explicit crimes committed by the accused. We are here, as a community of devout citizens of the law, truth, and justice, to decide if the one known as ‘Frog’ shall be executed and forever banished from these halls.

In order to make this trial fair, I am setting a high bar for execution. According to the demographics accumulated by our advertisers, only 40% of the iBC audience is either independent or left leaning. Ergo, in order to have a fair trial, we need to account for the explicit bias inherent in our ranks. Therefore, I’ve decided to fall back upon the constitution of the United States by mirroring the standard of the Senate, demanding a 60% majority to RATIFY the swift and painful execution of the accused.

HERETO: Frog has been accused of being a paid poster to promote a specific political ideology, thereby infecting the culture of the site with acrimonious venom — deserving of painful execution.

This is not a matter of whether you agree with Frog or not, only whether she’s a paid shill.

EXCERCISE YOUR DEMOCRATIC RITES NOW

Acta Diurna: Shall the one known as 'Frog' be executed and forever banished from iBankCoin?

— The_Real_Fly (@The_Real_Fly) May 21, 2017

The votes shall be tallied and the sentence carried out by tomorrow’s sundown.

There was a lot of pomp and circumstance upon Trump’s arrival in Saudi Arabia. It’s important to note, after 8 years of Iranian friendly Obama, the Saudis have strong motives to curry the favor of the new American President.

The visit to Saudi Arabia is historic. It marks the first time in American history a President had chosen to make Saudi Arabia his first international visit. Upon landing in the oil rich gulf state, the President signed a massive arms deal — which could swell to more than $350b over the next decade. The deal includes blackhawk helicopters, a modified version of the Freedom-variant Littoral Combat Ship, thousands of precision guided weaponry, cargo helicopters, transport helicopters, 115 M1A2s tanks, anti-ballistic missile systems (THAAD), and ‘maritime assets.’

The theory behind arming Saudi Arabia is that it would permit them to handle Iran in the Persian Gulf, granting us license to throw a few logs on the fire and doze off a bit while they do all the work for a change. All that sounds well and good, especially since the money will be spent with our weapons manufacturers, who employ thousands of Americans. But what about all of the stuff Trump said about Saudi Arabia during the campaign? Does that count for anything, or was it just election time shit talking?

Here’s Trump chastising Clinton for accepting Saudi money, a country that ‘kills women’ and ‘treat women horribly.’

Or what about the time Trump told The Morning Shill that Saudi Arabia was arming ISIS?

This is the “if, then” logic I want to put on the table for you to think about. If Saudi Arabia funds radical Islam and ISIS, like Trump said, then should we be selling them advanced weaponry?

One minor detail that is vexing me today. All of the conservatards are out in force, praising Melania Trump for not wearing a headscarf, which she’s 100% right for doing.

But Michelle Obama didn’t wear one either. I don’t know why people are saying she did wear one.

As a matter of fact, President Trump actually had the stones to criticize Michelle for doing so back then, calling it an insult.

Many people are saying it was wonderful that Mrs. Obama refused to wear a scarf in Saudi Arabia, but they were insulted.We have enuf enemies

— Donald J. Trump (@realDonaldTrump) January 29, 2015

If we’re gonna talk about this ‘historic trip’, let’s be honest about it then.

These motherfuckers are so cringeworthy, but they’re a necessary counter-cringe in the vast ocean of beta male leftist idiocracy.

Following a brief protest for having their super ‘based’ mods getting banned by Reddit, The_Donald is back in business — because Seth Rich’s killers are still out there.

The republic has been saved.

One week after the conservative community of people inside Reddit started to investigate the mysterious death of Seth Rich, Reddit has removed the immensely popular subreddit dubbed The_Donald.

They were easily the President’s biggest supporters, an online dan club dedicated to investigating and promoting Donald Trump.

And just like that, a community of 400,000 people have been wiped clean from the internet.

Corporate controlled internet is the worst type of internet. Fuck them all.

This has now reached TMZ styled gossip. Now the ‘intelligence community’, aka the CIA, are leaking private conversations between unnamed Russian officials who bragged about how they could influence Trump via Flynn? Who actually believes this malarkey?

Let’s think this through for a minute.

It’s fairly obvious the CIA/NSA/FBI loathe President Trump and have decided they want to remove him, or at least greatly diminish his power. These are the sort of leaks, however, that make them look desperate. How are we to believe an unnamed source intercepted the conversations of unnamed Russian officials who discussed how they could control Trump via their influence over Flynn?

More importantly, I’ve never seen a man, who has otherwise served his nation with great distinction (Flynn), get ripped apart like this on a daily basis. It’s important to remember that Flynn’s son was a big pedogate/pizzagate theorist and had drawn the venomous ire of the left after John Podesta’s emails were obtained by the public.

I’m not a huge fan of “The_Donald” because there’s a lot of fucked group think taking place there. However, since 99% of Reddit is one gigantic faggot cesspool of left leaning retards, the least Reddit could do it allow the 400,000 Donald shills have fun in their echo chamber. Apparently, for the cannibal who runs Reddit, one conservative subreddit is one too many.

The_Donald is now offline, leaving a message which states:

At 8:41pm ET on 5/19/2017, Reddit Admins removed three The_Donald mods without warning. This was punishment for our refusal to comply to a special set of rules that were imposed only on this subreddit and prevented our members from fully enjoying reddit or our mods from defending users against harassment.

We are temporarily private in a show of strength against these unfair restrictions. Check back in at 12 am ET for more info.

The people who run The_Donald subreddit cannot win and should be working towards moving that community to another website. Although Reddit is a terrific place to siphon information and traffic, it is a shit hole of corporate control. Some believe the recent actions taken against The_Donald have everything to do with the Seth Rich murder investigation, which has been talked about on the forum Ad nauseam — pointing fingers at Hillary and the DNC for his death.

That was a shitty close. For what it’s worth, the dollar getting gimp’d to the tune of 0.90% v the euro today was a major plus factor. Both oil and gold rallied, and even bonds held up. Nevertheless, stocks did not outperform this week, so that’s that.

I added to both TLT and GLD and look forward to a long weekend of debauchery and wayward drinking. What do folks like you do on the weekends? I imagine your housing tenements affords you with some light entertainment, such as bingo or hallway pizza parties?

Ciao.

Maggie Haberman from the NYT is out with yet another leak, regarding the meeting between Trump and the Russian foreign minister and ambassador. If true, I have mixed feelings about it. On one hand, we know Trump is a shit-talker and men tend to say inappropriate things in private. On the other, under no circumstances should the President of the United States impugn the former head of the FBI in front of foreign agents.

The positive aspect of acting like a shit-talking pavement ape is that it scares people — the old ‘Crazy Nixon’ routine. If people are scared of Trump, because of his changeability, then they’re less likely to fuck with him. Even still, this isn’t exactly “presidential” decorum, certainly not befitting for the highest office in the world.

Obviously, we must impeach now.

President Trump told Russian officials in the Oval Office this month that firing the F.B.I. director, James B. Comey, had relieved “great pressure” on him, according to a document summarizing the meeting.

“I just fired the head of the F.B.I. He was crazy, a real nut job,” Mr. Trump said, according to the document, which was read to The New York Times by an American official. “I faced great pressure because of Russia. That’s taken off.”

Mr. Trump added, “I’m not under investigation.”

The conversation, during a May 10 meeting — the day after he fired Mr. Comey — reinforces the notion that Mr. Trump dismissed him primarily because of the bureau’s investigation into possible collusion between his campaign and Russian operatives. Mr. Trump said as much in one televised interview, but the White House has offered changing justifications for the firing.

The White House document that contained Mr. Trump’s comments was based on notes taken from inside the Oval Office and has been circulated as the official account of the meeting. One official read quotations to The Times, and a second official confirmed the broad outlines of the discussion.

Sean Spicer, the White House press secretary, did not dispute the account.

In a statement, he said that Mr. Comey had put unnecessary pressure on the president’s ability to conduct diplomacy with Russia on matters such as Syria, Ukraine and the Islamic State.

“By grandstanding and politicizing the investigation into Russia’s actions, James Comey created unnecessary pressure on our ability to engage and negotiate with Russia,” Mr. Spicer said. “The investigation would have always continued, and obviously, the termination of Comey would not have ended it. Once again, the real story is that our national security has been undermined by the leaking of private and highly classified conversations.”

This is getting tedious, but who are these officials leaking to left wing newspapers? Does it matter? Should we embrace the transparency, just like we embraced the Podesta emails? If you were delighted over the Podesta leaks, then you cannot be pissed over these leaks, and vice versa. It’s part of the discussion now — a new era of neo-transparency and direct democracy.

It’s a real nice rally. I’m proud of all you heading into the burning house for the sake of capitalism. Personally, I’d like to see the entire house burn down.

But this isn’t about my feelings, and certainly not yours.

As an asset class, in spite of today’s tremendous rally, both gold and bonds outperformed stocks for the second straight week. Ergo, and this goes without saying, the correct call here is to buy more.

If stocks continue higher next week, I will correct my allocation. But for now, and this isn’t up for debate, risk off assets are the better performing asset classes.