Global Bank Wariness

Credit Suisse Group (NYSE: CS) is the latest bank on a market downtrend.

Interestingly enough, it's a European bank and the catalyst is unrelated to the Silicon Valley Bank crisis in the U.S.

Shares gapped down this morning after news broke that a major investor won't be able to send the bank any more money.

This does not point to a weak global banking system. Let's understand that first and foremost. The Credit Suisse issue is largely coincidental.

Never the less … the resulting volatility could offer decent trade opportunities. Especially since the price is only $2 a share.

Low-priced stocks make high-percentage moves. For example, Credit Suisse gapped down 29% this morning. And so far today it's managed a 22% spike.

Here's a chart …

During periods of market fear, double down on the hottest setups.

That means stocks that draw a lot of attention and stocks with popular catalysts.

One of the best catalysts we're seeing right now is SPACs.

They're Getting Elon All Wrong..

Unless you live under a rock, you know everyone is talking about Twitter.

That's because the media can't stop talking about Elon's next big move.

But in typical fashion, the media has it all wrong!

They're so focused on the Twitter news, they're missing an even bigger story.

This is truly shocking.

Best,

Tim Bohen

Special purpose acquisition companies (SPACs) are shell companies that exist to merge with a private company to take it public.

The result is similar to an initial public offering (IPO) but there's less red tape to cut through.

When there's news of a merger, the price action often turns highly volatile.

There's a new company in the market. There are a lot of eyes on the initial price action.

Hot catalysts come and go. We've seen hot SPAC plays before. And right now the sector is back in force.

Our top example today is Hub Cyber Security Ltd. (NASDAQ: HUBC).

The price is spiking +30% today after moving sideways for almost two weeks.

Here's a chart that shows the intraday consolidation around $1.80 before pushing higher …

Need another example? Yesterday, SPAC Ambipar Emergency Response (AMEX: AMBI) spiked 314%.

Here's a chart of that price action …

Look for more SPAC plays in the market. But keep an eye on these two stocks.

There could still be opportunities to profit in the near future.

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