Posted on 03/21/2013 7:05:55 AM PDT by blam
Markets Turn South As Euro Train Wreck Continues At Full Speed
Joe Weisenthal
March 21, 2013, 4:58 AM
The Euro train wreck continues.
Just this morning we've got:
* A horrible German Flash PMI number.
* A horrible French Flash PMI number.
* An announcement from the ECB that it will shut off emergency funding for Cypriot banks by Monday.
And the day's really just started.
Markets are red.
Italy is down 0.6%.
Germany is down 0.8%.
France is off 1%.
For more on the Cypriot drop dead date, see here
(Excerpt) Read more at businessinsider.com ...
Some day when the smoke clears, people won’t believe that investors were so stupid as to let the drunken sailors on the USS Federal Reserve take the economy straight into the iceberg, which will then be known as the Bernanke Bubble.
Investors are blue.
Just wait 'til you see
what the government will do.
I would equate Going South as a lot more serious. FDX went South and may pull trasports with it...but SPX is just a little down today and has been strong since the Dec rally began. Your just missing big profits sitting it out. But yeah the B&H investors could get a haircut as the rally cant go on indefinately. I think we clear 1600 before the summer doldrums set in.
So it almost wiped out the gain from yesterday.....
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