High Risk – Low Reward. Keep Your Powder Dry Until the Euro Decision.


There is a lot of news to sort through today. Earnings season is in full bloom and we will know exactly where we stand by the end of the week. Key economic releases and a bailout decision in Europe will impact trading. Let me start with the most basic concept. As long as the market believes that Europe is addressing credit concerns, the market will grind higher. Stocks are undervalued and Asset Managers do not want to miss a year-end rally. Global economic activity has pulled back from higher levels, but it is stable and it should not weigh heavily on …

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