$SMSI - Chart Link - Interesting there has
been nice positive divergence in the Spain index building for a
while, I noted this before in a newsletter. Now the news
comes up to justify it over the weekend.
EWP - Chart Link - ETF, had broken a
downtrend line on price and the ratio
Can't be that Spain admits it needs 125 billion Euro to shore up
its banks, nor can it be that their request has been granted.
After all, where's the money coming from, or should I say,
where is it being printed?
And with that news, Zerohedge reports that Ireland has asked
that their bailout terms be renegotiated. Can Greece be far
behind? Now that's certainly not bullish. So why will
the markets respond favorably to this absurdly irresponsible
action?
Link to Zerohedge
article: http://www.zerohedge.com/news/here-they-come-ireland-demands-renegotiation-its-bailout-terms-match-spain
all I meant was that futures responded to the Spanish Bank
Bailout news, I wasn't saying if it was positive or negative longer
term, obviously the Europe has major structural issues
and this doesn't solve that
listen to the newsletter, I discuss the market scenarios that I
see, I see this as a short term spike for the futures.
Otherwise I think the market is due for a lot of chop and
volatility.
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Spain
Posted by matt on 10th of Jun 2012 at 10:18 pm
$SMSI - Chart Link - Interesting there has been nice positive divergence in the Spain index building for a while, I noted this before in a newsletter. Now the news comes up to justify it over the weekend.
EWP - Chart Link - ETF, had broken a downtrend line on price and the ratio
Matt, I don't get it; what's the bullish news on Spain?
Posted by RichieD on 10th of Jun 2012 at 11:54 pm
Can't be that Spain admits it needs 125 billion Euro to shore up its banks, nor can it be that their request has been granted. After all, where's the money coming from, or should I say, where is it being printed?
And with that news, Zerohedge reports that Ireland has asked that their bailout terms be renegotiated. Can Greece be far behind? Now that's certainly not bullish. So why will the markets respond favorably to this absurdly irresponsible action?
Link to Zerohedge article: http://www.zerohedge.com/news/here-they-come-ireland-demands-renegotiation-its-bailout-terms-match-spain
all I meant was that
Posted by matt on 11th of Jun 2012 at 12:15 am
all I meant was that futures responded to the Spanish Bank Bailout news, I wasn't saying if it was positive or negative longer term, obviously the Europe has major structural issues and this doesn't solve that
listen to the newsletter, I discuss the market scenarios that I see, I see this as a short term spike for the futures. Otherwise I think the market is due for a lot of chop and volatility.