China Lowers Bank Requirements and Greece Gets Bailout. Good News Will Push Stocks Higher
The news over the weekend was generally positive and the market should be able to push higher. Gains will be hard fought since we are bumping up against major resistance. China lowered bank reserve requirements by .5%. Last week, officials said that they expect inflation to drop to .4%. That is the best level in almost 2 years and it could lead to more easing. Greece was able to renegotiate "haircuts" and private investors will get paid $.30 on the dollar. This paved the way for a deal with the troika. Greece will secure its next bailout, but this is a …
February 21, 2012
• Posted in: Options
Comments are closed for this entry.