As a childhood wise guy, I had a few dumb slogans to rattle off from time to time. One of them was from geography - The Hungary Turkey slipped on Greece. Yes, I know, BFD and silly. But how about changing it to something more relevant. The pitiful Eurozone slipped on Greece.
PIIGs indeed. What a mess and I am restricting my opinions to charts of their stock markets. Greece was down over 5% today to a fresh, or should I say fetid (feta-d) decade low. The rest are pitiful, too.
And speaking of Hungary Turkey, the Budapest exchange has been trending lower since January. Remember the hot first quarter for global, non-PIIGS markets? Bocs haver. And the TUR Turkey ETF is in a bear flag under the 50-day average.
Do you want to know where stocks are holding up nicely? South Africa.What trades there? Gold and diamonds.