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DOUBLE SHOT PRIMES MARKETS

|Includes:AAPL, DBA, DBB, DJP, EEM, EFA, EPI, EWA, EWC, EWG, EWJ, EWU, EWY, EWZ, FCG, FXE, FXY, GLD, HYG, IEF, IWM, IYR, JJG, KBE, QQQ, RFXI, RSX, SLV, SPDR S&P 500 Trust ETF (SPY), TLT, UGA, USL, XLB, XLE, XLF, XLI, XLU, XLY, XRT

  

 

The Fed completed the largest POMO action since QE2 began in September. Monday's POMO ("A Double Shot of My Baby's Love"?) came as markets were still oversold, which relieved this condition but may leave us drumming our fingers until after Wednesday's FOMC meeting results.

Although stocks rallied modestly Monday, volume was nearly 35% below last week's trading. The negative news overhang remains with most insiders believing Greece will have to accept (at least superficially) the harsh terms the IMF and ECB have announced. Behind the scenes American banksters led by Bernanke and the Chinese, with skin in the game, are pressing hard for a deal. Frankly, anything can happen but a breakup of the EU and the euro itself are on the table
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