Friday, January 29, 2010


Financial journalists claim that the potential insolvency of Greece, Spain, and Portugal caused the market to tank today instead of maintaining its advancing morning.

The estimates for the fourth quarter GDP come in with the economy growing at a rate of 5.7%. Shite. One has to think that these numbers will be revised downward, still its rather amazing.

CNN: Best economic growth in six years
...rose at a 5.7% annual rate in the fourth quarter. That was much stronger than expected and provides another sign that a recovery in the economy is taking hold.
Reuters: Stocks fall on euro-zone worry, tech slide
"The pattern has been to sell into the weekend, wait for sovereign risk and sovereign default news in Europe, and if it doesn't happen, the relief rally begins.

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