RIP European Financials

On the morning show, Garrett and I attended the funeral of EU banks…

And during the Profit Takeover show, I outlined four European financial names that are suffering…

Image from wallstreet.io

DB is down to $7.89 – a nearly 48% drop from $16.50 in February of this year.

Image from wallstreet.io

CS has steadily given up about 64% of its trading price from the high of $14.66 in late February 2021 – now at $5.24.

Image from wallstreet.io

UBS is trading at $15.65 – and we might see it drop to the March low of $15.12 we saw earlier this year… or lower.

Image from wallstreet.io

HSBC has teased this $30.45 level multiple times over the past 4 months… and it could easily drop below this time.

You could play the downside and buy puts on each of these names individually…

Or you could go short this ETF to play all these EU financials at once…

On Wednesday, my colleague and bond market expert, Bill Griffo, joined the Profit Revolution show…

This week, he had an idea to play iShares MSCI Europe Financials ETF (NASDAQ:EUFN)…

To go short all the EU financials at once…

EUFN is sitting at $14.70 – a low we haven’t seen since November of 2021…

Image from wallstreet.io

I think this ETF will be heading even lower soon.

We will be taking a look at EUFN and other financial names during the Profit Revolution show today at noon.

Until next time,

Mark Sebastian