Dave's Daily: Biding Our Time - TheStreet

Dave's Daily: Biding Our Time

Everything seems to hinge on Greece. If the situation is resolved investors just might sell the news. This edition of Dave's Daily also looks at the Baltic Dry Index, currencies and related ETFs.This edition of Dave's Daily also
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Dave's Daily

By Dave Fry, founder and publisher of

ETF Digest

and author of the best-selling book

Create Your Own ETF Hedge Fund.

February 10, 2010

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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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Continue to Major U.S. Markets

Continue to U.S. Market Sectors & Bonds

Continue to Currency & Commodity Markets

Continue to Overseas & Emerging Markets

Continue to Closing Remarks

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Continue to U.S. Market Sectors & Bonds

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Continue to Currency & Commodity Markets

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Continue to Overseas & Emerging Markets

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Continue to Closing Remarks

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

Debka.com

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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and follow ETF Digest on

facebook.

Disclaimer:  Among other issues the ETF Digest maintains positions in:

The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at

www.etfdigest.com

.

Dave Fry is founder and publisher of

ETF Digest

, 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.