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A SUDDEN AVERSION TO MARKET RISK

|Includes:BWX, C, DBA, DBB, DBC, EEM, EFA, EPI, EWA, EWC, EWJ, EWZ, FXE, FXI, FXY, GLD, IEF, IEV, IWM, IYR, IYT, KBE, KRE, MDY, QQQ, RSP, RSX, SMH, SPDR S&P 500 Trust ETF (SPY), TLT, UUP, VTI, XHB, XLB, XLE, XLF, XLI, XLV, XLY, XME, ZION

 

A SUDDEN AVERSION TO MARKET RISK

 

Investors’ rediscovered risk Wednesday as the Greek situation dragged on and Fitch downgraded Portugal’s debt.  Those two events combined to rally the dollar sharply against most currencies while trashing commodity prices.  And, as we’ve postulated often, if commodities can’t rally there’s only sluggish economic growth taking place.  In the US New Home Sales data came in much worse than expected (snow storms and such we suppose) while Durable Goods Orders increased about as expected.....READ MORE!

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Stocks: SPY, RSP, VTI, MDY, IWM, QQQ, SMH, XLF, KBE, C, KRE, ZION, XLY, XLI, XLB, XLV, IYR, XHB, IYT, IEF, TLT, BWX, UUP, FXE, FXY, GLD, DBC, XLE, DBB, XME, DBA, EFA, EEM, EWJ, EWA, EWC, IEV, EWZ, RSX, EPI, FXI