Although Capital One is involved with more than consumer credit cards, it doesn't feel like a great place to be with record unemployment -- while unpopular, I am taking the gamble that the longer term trend is closer to '08 style credit crisis. The indicators line up, as well as the exact price levels. If this sells off (starting with poor earnings next week?) and was to do an exact length match to the bottom as in '08, it would be 17 monthly candles, or in this case roughly December 2021. COF broke through its 200 day moving average, and I don't see the earnings impressing.
So many shorts closing into these financial dips on open.
Also short the CC's - their outlook is terrible unless consumption resumes and everyone is re-hired/perpetual UBI? (more of a risk than it should be)..
So many shorts closing into these financial dips on open.
Also short the CC's - their outlook is terrible unless consumption resumes and everyone is re-hired/perpetual UBI? (more of a risk than it should be)..