http://ibankcoin.com/flyblog/2011/08/07/all-eyes-on-europe/
Israeli and Saudi markets are down sharply. I don’t care about that. There are rumors floating that the ECB will begin massive buying of Spanish and Italian bonds. Should that come to fruition, this market is going to explode to the upside, skull-fucking every single short within a 50 mile radius of me, as well as worldwide, then lighting their craniums on fire. On the contrary, if nothing is done, so are we.
I am not being melodramatic by stating the obvious, am I? Naturally, the S&P downgrade is irrelevant, as it will not affect our borrowing costs. The main issue is Europe. Having said that, we all know how cheap stocks are and how oversold the markets are at this point in time. But we’re not trading on the fundies here. Let’s wait and see what comes out of Europe. And, don’t forget, THE BEARDED CLAM wishes to have a word or two this Tuesday, at the infamous JACKSON HOLE. All sorts of fabulously gay shit might happen this week.
Comments