Dave's Daily: Biding Our Time
Dave's Daily
By Dave Fry, founder and publisher of
and author of the best-selling book
Create Your Own ETF Hedge Fund.
February 10, 2010
BIDING OUR TIME
Are conditions finally settling down? Everything seems to hinge on Greece, or more likely, how the EU will deal with it and Europe's other problem children. Markets were down early as indications noted some waffling and uncertainty about any outcome regarding Greece. Markets rallied back when news came of a plan to be presented Thursday. No doubt they'll do something but
what
is unknown.
As you may recall the G-7 finance ministers met a couple of days ago and pronounced a commitment to keep stimulus going. Then Bernanke stated today the discount rate needs to be lifted at some point. He didn't get the memo I guess.
Volume was lighter than on recent days and breadth was basically flat.
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The current fixation is Greece. The real significance is how the EU deals with it, and by extension, how it may apply to the other so-called PIGS. If the situation is resolved investors just might sell the news. Who knows?
There will be Jobless Claims on Thursday; then, of course, more about Greece and Iran. As to the latter, events there could get really ugly. Generally, I read
to stay up with hard news from the Middle East.
Let's see what happens and you can follow our pithy comments on
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Dave Fry is founder and publisher of
, Dave's Daily blog and the best-selling book author of
Create Your Own ETF Hedge Fund, A DIY Strategy for Private Wealth Management
, published by Wiley Finance in 2008. A detailed bio is here:
Dave Fry.