. Last Week's rally, as this week starts in a sour note.
. Surprised ? I am not.
. It was a rally on declining volume for a start.
. And looking overstretched technically.
. It was a textbook sucker rally on short coverings .
. Most newsletters I received, to their credit was cautious in their outlook
. While keeping an eye out for bullish strength,
. Can't blame them, I would have and have done the same.
. The European mess if not financial circus will take months to hack out the details
. As more or less they have agreed in principle.
. But principle that are made by people who have political immunity
. Is just as good as having none.
. The driver in the hot seat is Germany.
. So why should an Australian Finance Minister who probably is still wearing the big hat of
Best finance minister in the world, put pressure on Germany ?!
. And truth be told, Germany is in the hot seat just because of birth.
. As a EuroZone member.
. So why should we listen to the G20 Bozos when the crux of the matter lies with Germany.
. Who woke up after the party over the weekend, realize the immensity of the task at hand
. Quickly sober up and sombre the market with realistic expectation.
. It was a sucker short covering rally after all.
. The manipulators talked up the market, creating a bubble of optimism and the G20 Bozos
Played along.
. The plan requires multi stakeholders cooperation and implementation. Whose details are yet to be heshed.
. Tobin Tax
. Carbon tax
. Wealth tax
. Extra revenues, extraordinary items outside the budget.
. Infrastructure bank.....
http://www.vancouversun.com/business/Markets+start+week+sour+note/5565772/story.html
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