Traders Are Testing the Strength of the Bid. Stocks Should Rally and Erase Most of the Losses Today
Every time stocks retreat, you know the source of the problem. Credit concerns in Europe are flaring up a bit this morning. Eurocrats rejected Greece's austerity package and the March 20th deadline draws near. Europe's finance ministers want the austerity package to pass through Greece's parliament before they give it a "thumbs up". Even then, they will question whether or not Greece will follow through on the plan. Greece will hold elections in April and the new Prime Minister might not honor previous agreements. The troika wants Greek officials to promise that they will follow through regardless of election results. I'm …
February 10, 2012
• Posted in: Options
Comments are closed for this entry.