U.S. Equities: Not Buying it for a Dollar

Robocopy - I'd buy that for a Dollar

The latest patch job has been completed with Greece.  You buying it?

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.


image thanks to tribalinsight - I WANT TO BELIEVE

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. 

Mastery recommends checking out some of our latest commentary.  Re-think the stocks that made the cut in Black Swan Stock Picks and Road Warrior Inspired Stocks.

Be careful out there and in closing... 


(Bloomberg) Euro, U.S. Futures Retreat After Moody’s Cuts

The yen rose against all of its major peers, while the euro weakened and U.S. equity futures retreated after Moody’s Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal.

The yen gained 0.2 percent against the euro as of 9:39 a.m. in Tokyo. The euro slipped 0.2 percent to $1.3167. Standard & Poor’s 500 Index futures lost 0.1 percent after the stock benchmark climbed 0.7 percent yesterday. The MSCI Asia Pacific Index (MXAP) slipped 0.2 percent. Oil retreated from a five-week high, dropping 0.3 percent to $100.66 a barrel. Continue...

Stocks will open lower come Tuesday, here's how the futures are trading:


DJIA INDEX 12,808.00 -27.00 12,815.00 12,823.00 12,805.00 21:17
S&P 500 1,345.40 -3.70 1,349.30 1,349.50 1,345.00 21:26
NASDAQ 100 2,563.75 -4.00 2,569.00 2,569.00 2,563.25 21:16

Agreed, but are you short this maket? It is too early to short... follow the market and not your predictions... dont know which direction this market will go...I agree with the comment....there is a lot of fear of revesal... Look, S&P downgraded PIGS and market shredded 4 handles and back in business...

You cant fight the tape. A few months back all news was bad news. Now no news is good news. Its a reversal of fear.