Oh boy. The absurd quotes from EU officials just keep rolling out. This time, the chairman of the Eurogroup forum of euro zone finance ministers Jean-Claude Juncker said that, “There is a certain reluctance to believe the Greeks can overcome the current crisis. I don’t think the markets are behaving in a rational way.”
Rational? Did he really suggest that financial markets should be rational?
In many ways, this quote exemplifies the attitude that led the EU to completely botch the Greek debt situation and invite investors to start selling the euro.
Talk is cheap. And the assertions that “…the euro is a solid and credible currency…”, as
The stock market is getting ugly. Futures were down big this morning. It seems to me we may be getting to one of those “high-panic” points where a reversal can occur. It’s moments like these that I like to hear from Jason Cimpl, the technical analyst and trading strategist at TradeMaster Daily Stock Alerts.
Jason anticipated the recent weakness in the stock market. He protected his readers’ trading profits with stop losses, several of which were triggered during the “flash crash’ on May 6.
Jason has also positioned his readers for downside profits with some short positions on select stocks. Just yesterday, they took a 7% gain on the ProShares UltraShort Financials (NYSE:SKF).
One of Jason’s readers just wrote with the following:
You wrote that the rally of last week would be short lived, so I got out of the market 9 days ago and SPX hit around 1156. I now have mostly cash.
Thank you very much for your nice advice. I really appreciate it. Susan
The “rally” she was referring to was the one that occurred on Monday May 10, after the EU voted to put up $1 trillion for loans and euro support.
At the time, Jason was skeptical and he’s been proved correct so far.
I understand that short-term trading is not for everyone. But if you’re interested in getting an advanced read on the stock markets next move and some insight on how to profit from it, there are none better than Jason Cimpl.
You can access his website HERE.