Hi Folks,
Had been thinking for a while that the DOW, poc and PNA sp all getting a bit too exuberant, given global challenges.
Might however be easy to overreact now. Couldn't get too excited about Greece, cant't get too excited about Ireland, which probably has more cows than people. And no, I do not expect Spain to succumb, but perhaps best to see Ireland, Portugal and Greece give the bondholders a haircut - someone is going to get one, and if it keeps being the peasants as in whackoland there's going to be a revolution of sorts.
China, well since when has the govt. trying to prevent bubbles been cause for concern outside of whackoland? Methinks the vampire squid needs a new round of instability in order to refill the sacs with blood.
I could be wrong, but my gut feel is that this will all pass pretty quickly. PNA well positioned, although even 70 might be a little too far too soon? not sure.
EL
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