This is just the beginning...
Wells Fargo & Co, the largest U.S. mortgage lender, reported a 2.6 percent fall in quarterly profit on Tuesday as expenses rose and the bank set aside more money to cover bad loans.
I joined him $$$
Trade of the Week
By Doug Kass | Apr 27, 2015 | 9:42 AM EDT
Coming up in my Diary - shorting IWM $126.26.
Position: Short Iwm
I see your pain. Feel it as the market comes in. FEEL IT!
Right, your mother is calling you upstairs. Your Chef Boyardee is ready for lunch.
He is short on brains. He has no money. The plays to short WM. It is having an outside day.
And so am I! Looking for a major break to the downside ($120-$121) on IWM this week.
Funny thing is that people will be caught by surprise when it happens. I will owe my source big time if ever this materializes.