The markets could have ripped tits off investors today given the uncertainty in Europe. Italy and Spain managed to buck the downtrend in Europe. Even France had a good day despite Sarkozy losing in the presidential election.
Today’s market action has all the makings of full decoupling from Europe. The only thing that could hold us back is a derivative bubble bursting or perhaps a bank failure in Europe. For now it seems like it is safe to play in the markets of Eden.
DOW down 6.6, NASDAQ up 9.4, S&P up 3.2
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