Credit Suisse is doing an emergency sale of its securitized loan portfolio.
The company has been under pressure for several weeks now — so this is NOT a sign of health.
The Swiss National Bank has opened over $13 billion of US Dollar swap lines with The Fed. The suspicion is that it’s to mask problems at Credit Suisse.
Meanwhile, the European Control Board (ECB) hiked rates by 75 basis points this morning.
So to recap: We’re moving through this recession, which is making itself increasingly evident.
► As such, we continue looking for smart ways to short this market. And we’re doing that with today’s FREE pick: MRO.
But you need to know how to play it and that includes a trigger price, target price and stop loss. You can get these by subscribing to The Daily Pick right now for just $9/mo.
👉👉We’ve already closed 24 winners and we’ve only been doing this since mid-August!
The Daily Pick is Don’s daily alert service, where for just a few dollars a month, he gives you a pick every trading day, complete with triggers, stop loss and profit targets.
ABOUT DON’S DAILY BRIEF:
Every market day, Don Yocham scans thousands of potential stocks, whittling down the list to just a handful that could be setting up to make BIG moves.
The top idea from his daily scan ends up here.
For specific trade instructions, including triggers and stop loss levels, take a look at The Daily Pick, where for just a few dollars a month, you’ll get full trade instructions on Don’s top idea each day.