We Need A News Event. The Calendar and the Price Action Will Improve In A Week
Last week, the market fell into a tight trading range. The economic releases were light and earnings season started to wind down. Traders are searching for the next catalyst and this could be another quiet week. The Greek Parliament approved the austerity plan and that keeps the IMF/ECB bailout talks alive. They need to secure $130 billion in fresh loans within a month. Unfortunately, they haven't even secured that loan and analysts are wondering if more is needed. This problem will continue to fester until we have a disorderly default. The ECB's liquidity injection has temporarily restored confidence. Some traders even …
February 13, 2012
• Posted in: Options
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