Sorry for the late post today but there is a foot of snow out my window. Yesterday, my part of the world had about sixty feet of rain and it all ended up in my basement.
I am reading more and more about debt downgrades, currency plunges and civil unrest (Greece and Turkey). The Socionomics crew would say that the latter is just a result of the declining stock markets in many places but the point is that a lot of bad stuff is happening.
I do not have a Bloomberg so if anyone can suggest a place to find CDS charts, I'd be much obliged. Rumor has it that the Elliott Wave boys and girls down in Gainesville just published a list of countries (and states) with rather scary looking CDS charts.
Even thought the stock market is still holding on, I am holding a huge percentage of cash right now.
1 comment:
EWI published the CDS rates for Italy,UK,Japan,US & Germany in the Monthly Financial Forecast.
What they were trying to show is how the rates react to the Elliott wave counts in the equity markets (I am referencing a DOW weekly chart): ie rates went up in the primary wave 1 decline (07-08), rates went down in the corrective primary wave 2 advance (triple zig-zag p-43 EWI principle)(09) to the 52% fib level & now rising as we could well be at the start of a primay wave 3 decline (10) in the Equity markets.
Cheers
Anthony
PS: Funny I was complaining it was too hot where I live (30 C+) but its just fine today (25 C) in Qld.
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