Time to sell, hedge or go short

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Have been reading a bit about Greece, Spain and Italy over the weekend that has made me turn much more bearish. Austerity kills GDP and jobs. Unemployment in those countries are going sky high and consumer confidence dipping to long time lows. I hope the US is learning from their mistakes. As Austerity is coming to this country that will work against job creation and stop GDP right in its tracks here to. In Europe 17 countries has to agree. Hard working countries like germany who got their shit in order has to pay for lazy Greeks who don’t care about shit.  I would love to see what the US congressional super committee comes up with. Can they come us with real savings and without hurting the job markets? Doubt it.  Austerity cost jobs. Higher taxes cost jobs. Pick your poison.

Maybe we already hit the top on Dow and S&P last week or we will do shortly. Can’t see us go much futher than 12350 and 1310. Don’t think we will see 12500 and 1350 on this wave up. New target on S &P 1260. then 1220.

Mr Market doesn’t always give us what we want. I would love to see 1310 but don’t think it will be that easy.

What news in the forecast:

Next Euro Disaster de Jour like missed targets for Greece and Italy

Occupy Wallstreet will grow, turn violent and start targeting major US corporations.

Euro going down. Dollar going back up to 80

Bonds: $TLT going back up to testing old highs around 125

Gold going below 1500

Silver going below 30

Food prices going through the roof creating more screwflation. Will start riots.

Good luck all with your trading. Be careful out there.

One Response to “Time to sell, hedge or go short”

  1. Up-date futures down 11 points. I was hoping to add some shorts higher. But I guess that would have been to easy. People are slowly catching on to the big European scam aka “The Emperor’s New Clothes” Going to Philly AM so I will be travelling all day. Have fun. Bank lots of coins. http://ivyjoy.com/fables/emperor.html

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