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2 Posts: 1) Eurozone's Devil In The Details. 2) Oil/Middle East

1) The media appears to be focusing first and foremost on this Sunday's Greek elections, understandably so. Just after that, they are turning periodically to the German reaction to calls for more immediate banking and fiscal union within the Eurozone. But away from these headlines, a deeper dig into the situation, shows quite a few 'devils in the details' of any road forward. This article by Marshall Auerback, Germany's Constitutional Conundrum, is certainly evidence of that and in turn, shows just how unlikely it is that there could be a non-chaotic road ahead.

So with the US equity market quite euphoric today on the hopes for QE3, I remain skeptical…and yes….defensive…..FYI….

2) Far less market relevant (near-term) but nonetheless quite important, today's ruling by Egypt's High Court is likely to be a bit of 'rain' on the 'Arab Spring'….(see this Washington Post article).

Add this into the mix of OPEC freezing production at current levels, P5+1 apparently striking out with Iran on nuclear talks, and Syria's now-called "Civil War" igniting tensions between the US and Russia, can't help but wonder if oil's bounce today might just be sustained… some….. ….

(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).

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