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S&P 500 futures +1% following the Spanish bailout. German Dax futures +1.7%. The Nikkei...
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Sunday, June 10, 2012, 8:11 PM ETS&P 500 futures +1% following the Spanish bailout. German Dax futures +1.7%. The Nikkei opens higher by 1.8%. The euro gapped all the way to $1.2669 as trade opened in Auckland a few hours ago, now +0.9% to $1.2630. The euro/Swiss franc rate hasn't budged, still at CHF 1.2012. When the debt crisis is truly solved, one would expect the pressure on this cross to come off.
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Looking at the mccellan oscillator: http://bit.ly/LseZLF it seems that we are in for a really big up move. It is showing some positive divergence, which is a big deal when it shows divergence.
http://seekingalpha.co...
http://seekingalpha.co...
The effects of the latest euro smoke and mirrors will have worn off by lunch.
Europe is no less doomed.
You nailed it!
Regardless of how things finish today, the actual result was negative by lunch as you forecasted.
Did you take Regarded's wager?
Seriously...didn't anyone across the pond realize that they have screwed the senior bondholders and those new bagholders would just start dumping their now subordinated Spanish bonds?
The capital flight is NOT GOOD for Spanish and Italian equities.
I mean C'MON!!
Nahhh ... easy that we get to 1,800 or 1,900 in a matter of a few weeks. The EU has been saved and all the debt has magically disappeared. Booming economies and zero unemployment are right around the corner. A new raging bull market has just lifted off.