What Are the Chances, from Ken Drees
I see a water boil type market where slowly the heating ramps up until it bursts into boil. Multiple country bond market auctions failing or stumbling, euro equities struggling, S&P hanging like a turkey from a hunter's hand, mf global is a needle in the confidence arena, the heating up of a bad kettle keeps going.
So I'm not seeing things from a contrary view, but I'm seeing things as slowly unraveling…or maybe there is a grand rescue that will be hatched on turkey day?
Somehow I feel that table talk will be interesting on Thursday.
Victor Niederhoffer comments:
The idea of buying the announcement and selling the rumor for profit has been exemplified recently.