German chancellor Angela Merkel has been making strong statements lately along with spearheading decisive action in defense of the euro and european bonds. She said she feels it's her vs. the speculators. If the speculators could respond I'm sure it would be along the same lines as to what Mr. Burns says here below
I sense we are getting close to a bottom here. The panic is palpable. The put/call ratio is off the charts right now at 1.66 and the VIX is closing in on 40 again. As always though, market action needs to confirm and it's not yet. I'm getting a shopping list of stocks prepared.
All this time people wanted a correction so they can get in. Well now we that have one on hand, where are the buyers?
ReplyDeleteIf S&P breaks 1050 with no bounce or anything like what happened today, I think this rally is in trouble. I am not bearish yet but damn cautious atm.