Just a quick point. I follow Spain, Germany, France, UK, and US indexes. Obviously the FTSE follows Wall Street the most closely. Over the past few months it has been – relatively – far too resilient considering the underlying economic malaise [because of QE & silly-billy low interest rates]. As you know I’m also an uber-bear, but I’ve been banking profits too quickly – because of the “silly summer,” – make up gains, again, on the short side. However, I think things may be on a cusp. Spain [and the UK] have been too bullish relatively – but look at Spain tonight [cf. Spain and Germany]. I held one last short there, whilst closing all the rest, prematurely [for the reasons above] All I’m pointing out is that there may be subtle changes afoot. PS I need to “get more bullish in my bearishness” again, but I’m still a little worried about a continued “false flush” if the UK extends QE ATB
Weird; DJIA @ 10400, DAX @ 5800, FTSE @ almost 5400 yet no-one's had anything to say on Indices for many days now. One of the main news agencies has the following agenda going forward:
GLOBAL ECONOMIC RECOVERY
i. Bills come due: deficit fallout, social pain & unrest, unemployment ii. Exit strategies: end of cheap money, inflation becomes policy of choice iii. Recovery speed: risk of double dip, diversions among regions, access to credit iv. Markets: dollar crisis, stocks rally is fool’s gold, C&E as inflation hedge
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