Sunday, February 28, 2010

Could this be the catalyst for a test of January Highs?

I think that traders and investors are already prepared for negative headlines. They have very low expectations, which is probably why we did not sell off more than the 9% that we got. The bad news out of Greece, the surprise hike in the discount rate, the interest rate hike in China. They all had the potential to be very devastating to the US equity markets. But for the most part they were shrugged off.  We are certainly not getting the same panic selling we got early last year.

All I am saying is this could be the piece of news that may change attitudes, as prospects of the tax payers money being paid back. I think it bodes well for the market overall. But we will just have to wait and see.

This could be interesting for the market!

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