Folks, the market was bullish; and by market I mean US, Europe, China, Japan… the whole enchilada. Why people even bother taking the headlines seriously is beyond me. All this Greek stuff did was reset sentiment to sustain the bull just as so many hysterics burped up by an unhinged system have done for years now. They are like a series of jolts to the system. What’s that thing EMT’s use to try to revive people?
MarketWatch headline
Don’t think in linear terms; it’ll get you killed. Instead, think about value and long-term term investment in things of value, but at the same time realize what bullish is in the casino. While I have continued trimming profits on individual US stocks, I have been replanting in others. I’ll take what the casino gives.
Meanwhile, the casino gives us Europe, which is following the US blueprint and as this chart from a pre-market NFTRH update and eLetter shows, Europe has held support vs. the US (Euro STOXX 50 vs. S&P 500). The chart is not updated for today’s activity, but it is higher still.
This week, barring immediate reversal next week, has brought us closer to a potential manic blow off scenario in US and global markets. Silver 2011 anyone? How about Oil 2008? Uranium 2007? Nasdaq 2000? This thing is not nearly as stretched as those things, but the market could be in the process.
