Thursday, April 22, 2010

Grecian Formula

What is the formula for pounding the futures without anything substantial happening?  Mention the keywords Greece and bonds and credit spreads and you have an automatic big gap down.  Greek credit spreads are blowing out again and fears of another needed bailout are hitting the rumor mill.  The Europeans are losing it again over Greece, a cancer on the whole continent that doesn't go away.  I am sure the US will ignore this and it will be just another buying opportunity, but it does keep the bulls on their toes.  I am targeting 1191-2 as good support and yesterday's cash close at 1202 as resistance.  I see no runaway downtrend today.

1 comment:

iv said...

there starts the runaway owl imo