Wednesday, December 15, 2010

Spain Downgrade

Moody's put Spain on a downgrade watch and Spain 10 yr yields are approaching yearly highs.  I guess it doesn't matter because its December and Santa is coming to town.  We finally have a gap down which probably surprises the bulls who probably thought we could go up through the end of the year without any down days.  Market is vulnerable here to a sharp pullback.  Holding shorts.


Anonymous said...

interesting govt releases a 10 million draw on crude oil supplies to rip outside commod market.

Petsamo said...

The Russel 2000 (IWM) is behaving too bullishly. This is not looking good for the bears.