Thursday, November 3, 2011
ECB Rate Cut
Well, the new ECB head has lowered rates 25 bp, and we get a spike up on that. They could drop it to zero and it doesn't solve the problem of Greek debt. Greece looks like it is on the brink, with the ruling government probably in its final days, we may seem some chaos with no government soon. Expecting intraday weakness today.
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5 comments:
With ECB now in cutting mode it will set it up for big shorts to hit the Euro... this will trigger dollar strength causing earning for S&P500 the peak
It is bad news for US companies now that Europe is now going to cut rates and devalue the euro. The competitive devaluations keep going on, gold will only go higher.
MO, do you have a gad down signal for tomorrow? Also, seems like killing all the newbie longs past 2 days would be thing to do?
Hard to call tomorrow, I don't have an opinion on how the job report will come out.
If jobs are good it is good for dollar which in end is bad for mkt if jobs are bad we go down then maybe bounce on hopes for QE3.... The 99% are right system is broken
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