The Euro (and Europe) is crashing, the U.S, is now Greece on the cocktail party circuit, the Bangkok stock exchange just got attacked by crazies and our futures are down 1% this morning. Oil could drop to $66 technically as solar panels now do all the work for us. Evil GS, MS and BAC had big upside predictions on black gold, but they were all selling USO while pounding the table, how dare they? By the way, 7 of 9 of Goldman’s major calls this year have gone craphouse according to Bloomberg this morning.
But wait, everything will be fine because Germany just installed their own “no short” rule on various banks. Do you remember our own “no short” rule on the banks during the 2008-09 deleveraging? I do, like it was last night. Those stocks and the market got crushed even further. What governments will never understand is that you can’t stop momentum with the flip of a switch, just look at how well our circuit breakers did a couple of weeks ago. Water will seek its own level anyway.
If your day trading this market that’s one thing, but if your holding “stuff” overnight and your not hedged, your just crazy.
Some plays yesterday on the premium site were:
Long: UPI +10%, VCLK +6&, VVUS +4%
Shorts: AGM +10%, FSLR +5%