Friday, October 7, 2011

Someone Just Sneezed in Europe, S&P Drops 10 Points in a Few Minutes

It remains a nonsense, headline driven market - unhealthy to the extreme.  Things were coasting along on a very quiet Friday afternoon and then suddenly the S&P 500 lost 10 points in minutes ... best I can tell is because there is a quote of Merkel saying Eurobonds are the wrong way to go.  Is that the reason?  Who knows - the point is we are not trading on anything sensible anymore.  Fitch also just downgraded the debt of Spain and Italy - shocker! The volatility due to headlines is complete nonsense.  At any moment you can turn your head and the market can be moving to the tune of 1-2% due to a headline a computer reads....


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