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.
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2 comments:
interesting govt releases a 10 million draw on crude oil supplies to rip outside commod market.
The Russel 2000 (IWM) is behaving too bullishly. This is not looking good for the bears.
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