Wednesday, June 15, 2011

What's happening in the world today ...

So, here's what I think is going on in the world: The Euro is being killed given the problems in Greece, which are severe.  This is driving the dollar up, which is driving commodities and securities down.  Added to some weaker than expected economic data, we've had a correction that started on 5/2 and has taken roughly 8% off the S&P 500.  It's been a long, slow, choppy downward slide. I've not seen any sort of capitulation selling yet, so I believe we go farther, with the catalyst for reversal perhaps being the meeting in a few weeks where Europe finally does what it should do.

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