Wednesday, April 4, 2012

A PIIG in a poke

Or a poke in the eye.

Spain and Italy are fading fast. Greece should have stabilized but it is falling once again. Portugal continues to scrape along the bottom.

The only breath of hope in the group was Ireland as it has been near 52-week highs.  Pigs on the wing (Pink Floyd)

We ran this chart in Quick Takes Pro yesterday. It shows a strong Irish stock market albeit with RSI divergence, but two of its major banks still looking very piigs-y. Can Irish stocks hold when Irish banks are toast?

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