Sunday, June 19, 2011

Greeks Over There And Tea Baggers Over Here

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

If Greeks can get something positive going in Europe and the House Reps signal that they wouldn't push for a government shut down in US, SPX very likely rallies to back test its 50D SMA (around 1320) sometime in the next couple of weeks. What happens after that will mostly depend on earnings and forecast by companies.  If they're good, indices go higher to set new highs, otherwise indices would sell off until Uncle Ben comes to the rescue with his QE-III.  

One thing is for sure: The last thing Big Money wants at this point is another financial meltdown.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.