IIFT Daily Note with Peter Brown

Oh Dear!

Posted by:  |  Time: 7:13 am  |  Topic:
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Bernanke, failed! Market in a tail spin after yesterday’s FOMC , basically the problem is too big to fix and we are going to have to live through it. Look at yesterday’s news.

Bank of America downgraded two notches, BNP Paribas looking for capital in the Mid East. And Greece!

Really serious stuff. The S&P finally buckled, (macro view will out in the end )Not enough in the FOMC  to weaken the dollar so the Euro got killed. This is the trend for the rest of the year. Question as always is will we get a bounce this morning.

Near term tarkets 1100 for the S&P and 1.3000 for the Euro. Buy the bounces in small and sell the falls in big.

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