U.S. Equities: Not Buying it for a Dollar
Mastery is not liking the trading waters today, we've got to many uncertainties (Greek Band-Aid, Iran, VIX) in the headlines not to mention the technical limitations of the S&P 500. Its got everyone trading with a "If you buy, I'll buy" mentality. I'd rather keep my dollar then throw it into the stock market garbage disposal.
As we wrote last week Fear is Back with a Vengeance and we anticipate traders to bank coin on emotional trading mistakes. Thanks to the ongoing drama with Iran crude oil has pushed past the $100 level. The EU is doing its best to work with Greece and as much as we want to believe -- we don't believe.
The euro is inching higher (Mon, Feb 13th) after yesterday Greece agreed to big cuts in pensions, jobs, and salaries. Its a ticking time bomb.
Be careful out there and in closing...
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