OK, so Wednesday not only Greece, but Portugal hung over the market like two dark Euro-clouds, and the market couldn't take it.
The key here is, does the Euro completely fall apart now, or later? If its now then we have some serious issues, if its later then we'll get a snap sharp rally as soon as these issues are resolved for the time being, which they will be.
I'm still looking for that Window Dressing beast run to bust us out and maybe it gets going on some good news out of Europe. The Dollar looks like it could really crank here until/if that happens.
GOOG finally got that sweet reversal, I caught some of it, but couldn't trade all day so missed some as well. Still, very nice, who knew?
Financials are ON FIRE, FAS looks like it may hit $100 before April. BAC looks like it has $20 written all over it. I own some BAC calls, btw.
Today is tough day to call, we're coming into a holiday weekend and trading is light and we're still way overbought so it SEEMS like a good time to pull in a bit more, but I still think we have to see 11,000 and 1200 on S & P so hard to imagine baring bad news that we don't hold steady until we reramp and hit those levels. We'll see soon enough but I didn't see any panic selling WEdnesday and I guess we don't either way right here.
See ya on the other side,