Submitted by ilene on 10/11/2011 - 14:05
Anyway, the short story is that, after seeing the S&P fail at the 1,200 level 5 times in 8 weeks, we take the opportunity of another run-up to take a short position.
Submitted by Phoenix Capital... on 10/11/2011 - 11:15defaultLehman
Sarkozy and Merkel continue to make "plans" for what to do... The reality is all they're doing is playing for time while they prepare for a Greek default. Indeed, German officials recently told the Telegraph that a "hard" default for Greece is coming which will feature investors taking a 60% "haircut" on their investments in Greek bonds.
Submitted by Phoenix Capital... on 10/11/2011 - 11:05
The "powers that be" have lost control of the markets. Both the IMF and the Bank of England have warned we are facing a financial meltdown of historic proportions and possibly the worst ever in history. These are the very groups that are supposed to hold up the financial system... telling us that we're facing a "meltdown."
Submitted by Phoenix Capital... on 10/10/2011 - 14:15
Europe’s banking system is in far FAR worse shape than anyone over there is admitting. The stress tests were complete and total fiction. And the market is starting to figure this out.