A Recipe for Exiting the Euro

The Euro drama has entered a new phase.  Unless the Germany, the European Central Bank, and the IMF blink it’s likely Greece will exit the Euro.  Financial austerity piled on top of crushing unemployment has fomented widespread discontent with ongoing demands from the richer countries for the poor to tighten their belts even further. The stay-the-course crowd still claims that this pain will lead to …

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Last leg of the correction? Time to break the 2010 trendline?

Although recent intra-day lows have crossed the 2010 trendline in the graph below I hallucinated in February we haven’t had a SPY closing yet that has crossed that line (104.87  for  9-June-2010).   My crystal ball has been notably hazy recently, but I’m still thinking this is a correction and not the beginning of a bear market. I continue to be bearish on the prospects …

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