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.
Tuesday, June 5, 2012
Monday, June 4, 2012
Save the Liver!
OK, the title is a stretch as the real topic is what is already baked into the cake in this market.
On the Facebook page, we had a brief discussion about money printing. Everyone "knows" the market will rally when Ben and his gaggle of international money printers get busy again. I contended that it is already baked into the market and that is why the Dow "only" fell 275 last Friday.
What really is baked into the market? Greek default? Spanish default? Germany throwing in the towel and leaving the euro first? How about Morgan Stanley going down? or Facebook leading the end of the social media phenomenon?
I think gold's rally was only part in response to possible money printing. Perhaps they are baking safe haven status back into the yellow metal.
It would be fun to ponder all the things the markets can cook if it were not so sad what is happening out there.
And now, to explain the title of this blog.
Way back when, it was Dan Akroyd playing chef Julia Child on Saturday Night Live in a rather (fake) bloody scene extolling the viewer to "save the liver." I thought baked in the cake, then chef, then save the liver. What do you want from a free blog?
On the Facebook page, we had a brief discussion about money printing. Everyone "knows" the market will rally when Ben and his gaggle of international money printers get busy again. I contended that it is already baked into the market and that is why the Dow "only" fell 275 last Friday.
What really is baked into the market? Greek default? Spanish default? Germany throwing in the towel and leaving the euro first? How about Morgan Stanley going down? or Facebook leading the end of the social media phenomenon?
I think gold's rally was only part in response to possible money printing. Perhaps they are baking safe haven status back into the yellow metal.
It would be fun to ponder all the things the markets can cook if it were not so sad what is happening out there.
And now, to explain the title of this blog.
Way back when, it was Dan Akroyd playing chef Julia Child on Saturday Night Live in a rather (fake) bloody scene extolling the viewer to "save the liver." I thought baked in the cake, then chef, then save the liver. What do you want from a free blog?
Subscribe to:
Posts (Atom)