xjo weekend zoomba lounge, page-53

Hi Funky,

I know the VSA stuff is usually suspicious of a big up day on big volume ... hiding distribution from smart money to dumb money.

But maybe ... sometimes it is just what it is.

Maybe, in this case, it's dumb money caught with their pants down and in short positions - and now have to cover and cover and cover. That's what the chart pattern looks like to me.

We never know for sure just what is happening. But it seems OK to me.

The Europeans seem to have have come up with a solution that will hold the wolf from the door at least for a few months. The German parliament has ratified the agreement. Merkel is finally caving in (somewhat) to pressure from the pro-growthists. (Personally, I'm on the pro-growth side of the rhetorical battle.)

The only stumbling block now is the German Constitutional Court. If it doesn't give the thumbs up, the markets might take a big tumble. But surely Merkel has already taken the best legal advice available (outside the CC) and is confident of it passing this final hurdle.

Cheers
Redbacka