I think today is going to be an interesting day for the markets. As it appears, Europe seems weak again but the ECB is in there printing money to buy bonds so where does that leave us? To be honest I'm not sure what to do and thinking of selling/covering everything.
A couple interesting points.
- Two democratic governments in Europe replaced their head of state without elections (Greece and Italy) and that is disturbing to me.
- Europe is at odds over itself and is trying to prevent downgrades. Well judging from the rhetoric coming out of the also not elected "super committee" (the shitty committee) it sounds like they are going to have problems coming to an agreement. So are we going to have another issue in the US as it relates to our own home grown debt crisis?
- The Feds Bullard said today that the FED will reopen liquidity facilities if Europe Worsens**
Things are looking really bad around the world but that's what has me indecisive. Things are SO BAD that I feel like at any moment massive money printing is about to occur which will cause prices to soar. Will the powers that be allow a full blown balls-to-the-wall crisis before printing or will they get the printing on before it gets it out of control? I just don't know.
Good luck trading!