REMEMBER we hit SPY $107.43 based on Europe uncertainty and us recession fears!!!! IT WORSE RIGHT NOW than it was THEN!! now instead of just greece, portugal, ireland, the market is saying Italy , its eventually going to reach Germany and France....the whole euro region is f*cked. MF just went under, whose the next one??? MS down 9% today!!! who else made outrageously risky bets that are blowing up in their faces????
who is going to buy bonds in europe if they won't honor CDS when the countries default??? the gov't hands in all this has nothing but delay the inevitable IMO!! and the more can kicking they've done the worse the outcome!!
play the bounce because it will come, and we will have our up days to go with these huge down days, but I think my SPY $105 price is comin a lot sooner than later