Friday, October 7, 2011
Someone Just Sneezed in Europe, S&P Drops 10 Points in a Few Minutes
It remains a nonsense, headline driven market - unhealthy to the extreme. Things were coasting along on a very quiet Friday afternoon and then suddenly the S&P 500 lost 10 points in minutes ... best I can tell is because there is a quote of Merkel saying Eurobonds are the wrong way to go. Is that the reason? Who knows - the point is we are not trading on anything sensible anymore. Fitch also just downgraded the debt of Spain and Italy - shocker! The volatility due to headlines is complete nonsense. At any moment you can turn your head and the market can be moving to the tune of 1-2% due to a headline a computer reads....
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Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows