There is a massive move in European banks taking place in Europe today, thanks to incentives offered to them by the ECB for lending money. The whole thing is sort of a mess. But in the interim, European stocks are spiraling higher, led by Unicredit, Axa and Deutsche Bank.
The euro is selling off v the dollar, a net positive for European exporters.
Look at those banks run.
It’s about time. I’ve been sitting on a dead-money SAN position for years. I’ve added as SAN went down which, technically speaking, was a stupid strategy.
Time to shave Russell Crowe’s beard and abandon the Ark. We are going higher.
Captain : we need more tar and pitch for the hull
Considerably? The EUR moved 400 points in 4 hours. A pullback is to be expected, but a EUR rally is baked into the cake and that could boost equities. US equities, that is.