It is really funny watching what the market is doing these days. Optimism replacing pessimism within days. Last week we heard what the worst week for the markets it was since 2008 and today we see a great optimism again just to be replaced with a pessimism next week.
Today, the news are trumpeting how optimistic the investors are about the crisis in Europe being resolved. Then I found the following quote:
The plan — reported by CNBC — would allow troubled banks to swap bad debt for bonds backed by the European Investment Bank.
But doubts remain that the action, should it occur, would bring the crisis to a complete resolution given the continent’s extremely heavy debt burden.
Source: CNN Money
C’mon guys! Is this a reason for extreme optimism? You bet no! It will just move the debt from one pocket to another. It will solve nothing and the debt burden will be back again. Those doubts as mentioned in the quote will arise larger and stronger.
This market is poisoned to fall. Do not fall into a bull trap. If you take a look at my yesterday’s chart and look at the latest peaks, highs of the chart, they are lower highs. Let me post it again with the red dots indicating those new highs.
What trend do you see forming here? Of course, it can all change and the market can turn up and be growing, but it is quite unlikely at this point. And why do I think the market will continue down? What is that catalyst? It is European debt, which is far from solved.
The whole Wall Street is funny money!
Investing…
[…]Funny Money | Hello Suckers …[…]…
Great info on stock trading!
I don’t know about anyone else, but I believe stocks are on the verge of exploding upward, and I am buying not selling.
well…the market is on the right track so far today.hopefully it will stay that way and loose at least 800-1000 pts today. market must bust and we must get all the illegals rounded up and shipped out along with all you ****es who want them to stay here then and only then will this country get back on the right track.