SHORT KRE @ $35.77

Shorting KRE @ $35.77

5% position

Shorting regional banks here with them up over 3% on the day. After seeing that ECB vs. European banks chart in my Morning Note today, I'm pretty (justifiably) bearish on US banks - regardless of which direction broader equity markets go.

Banks just can't make big profits with rates so low. Unless they charge other fees. And consumers HATE those other fees. Thankfully, internet banks have all but eliminated the traditional fees so the old school banks will suffer.