General Stock Ideas

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>>> This Is What You’ll Get: Globally Coordinated Bupkus


By Mark Gongloff
AP

Wall St Journal

December 13, 2011, 3:50 PM ET




http://blogs.wsj.com/marketbeat/2011/12/13/this-is-what-youll-get-globally-coordinated-bupkus/?mod=yahoo_hs




There’s no apparent news driving the late-afternoon collapse in stocks, aside from playing catch-up to the euro, which has been screaming in agony all day.

You could argue that the truly inexplicable move was not the late-day selloff but the bizarre gain earlier today. But the Fed’s decision not to make a decision has driven home a message we’ve gotten from the ECB and EU last week and from the Fed today: We’re once again getting little help from policy makers.

Earlier, there was a predictable blowup over the private-sector involvement (PSI) in a Greek bailout — banks shockingly are reluctant to take big haircuts on that debt. Just another rally support kicked away.

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