costa's greek cousins friday, page-2

Who is starting to feel punch drunk?

Of interest this morning - Europe cuts interest rates. I have suggested for some time that the only way out of everyone's problems is to inflate the debt away and now with the new head of the ECB, Europe looks to have taken that line. Just remember when they start printing money, some, or even a lot of it, finds its way into the stock markets.

Have to watch here that the SPX doesn't form a right shoulder of a head and shoulders top.

My Genius Index is above 45%. So a lot of money has been ploughed into the market. But obviously a lot still on the sidelines. But as mentioned before, looking at the published figures, I didn't find an instance when the market had a serious top without 50% of the money invested. So we are near that level.

Australia put in a sterling performance yesterday considering everything that was going on. But here again, bit concerned that we might form a right shoulder as well.

I have decided to just stay with longer term position until the market becomes a bit less manic.

And no - BiggDaddy that was not me in your gym.....