Although nothing much has happen in the spx today. There are a lot going
behind the scene. It is a day where both the risk loving and the risk hating
are making their point.
On the one hand, positive data from china, rumor about a solution for europe
, along with positive data from the US provides a case for the risk loving.
Hence dumping us treasury, pushing down european CDS and also on the way
providing support for the Euro.
On the other hand, the risk hating, (the camp I'm in), taking clue from the
overnight spike in the euro overnight libor for the past two days, continue
to push down the emerging market, the european market , as well as commodity
market, (metal and oil are beaten pretty hard. although food price future
remain firm, crb index is down, so I'll give the score for the commodity
market to the risk hating). On the currency front, the risk hating, although
fail to attack the Euro, was also making their voice, as witness by the
commodity trio aud/cad/nzd)
a analyst today, (I forgot who) call the market “decidedly undecided'.
There are some truth to it. Yet we should never forget that after such “
decidedly undecided period”, one side will capitulate and the other side
will charge forward with violent force.
I believe firmly that the risk hating camp will win, and spx 1130/40 is
around the corner. Because
我们一定得胜,正义属于我方,
“我们信仰泰迪”,此语永矢不忘。
Disclaimer:
Opinions expressed are the opinions of Poiuytre and are subject to change
without notice. The information is provided to you for entertainment
purposes only.