By www.thetrader.se [2]
The Trader has been bearish on (especially) the Spanish and Italian markets over the past weeks. Our short term targets are approaching, and despite our negative views on the economy of those countries, we feel that the short term probabality of further declines is getting somewhat limited. If you have been short these markets as we advised, it is time to cover those shorts/try a small long at these extremely oversold levels.
A few weeks ago, not many wrote of the problems in Spain, but all we read now is regarding the Spanish flue hitting everything. Yes, that is true, but don’t forget, the Spanish market has already plunged close to 20% in a few weeks.
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Ibex
MIB
Eurostoxx 50
SPX vs IBEX. It doesn't take a genius to see where Bernanke has been active.
